MSFO vs. SPYG
MSFO (YieldMax MSFT Option Income Strategy ETF ) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - MSFO is a Options Trading fund actively managed by YieldMax, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. MSFO is actively managed, while SPYG is passively managed. Over the past year, MSFO returned -13.71% vs 29.17% for SPYG. A 0.64 correlation means they provide meaningful diversification when combined. MSFO charges 0.99%/yr vs 0.04%/yr for SPYG.
Performance
MSFO vs. SPYG - Performance Comparison
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Returns By Period
In the year-to-date period, MSFO achieves a -16.15% return, which is significantly lower than SPYG's 9.70% return.
MSFO
- 1D
- 0.02%
- 1M
- -7.72%
- YTD
- -16.15%
- 6M
- -15.35%
- 1Y
- -13.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYG
- 1D
- 0.41%
- 1M
- -1.24%
- YTD
- 9.70%
- 6M
- 10.60%
- 1Y
- 29.17%
- 3Y*
- 25.85%
- 5Y*
- 14.92%
- 10Y*
- 17.91%
MSFO vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MSFO YieldMax MSFT Option Income Strategy ETF
| -16.15% | 15.69% | 10.34% | 18.74% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 9.70% | 22.09% | 35.99% | 8.43% |
Correlation
The correlation between MSFO and SPYG is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2023 | 0.64 |
The correlation between MSFO and SPYG shifts across timeframes, from 0.54 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MSFO vs. SPYG — Risk / Return Rank
MSFO
SPYG
MSFO vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MSFO | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.28 | ||
| Sortino ratioReturn per unit of downside risk | -3.01 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.29 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 2.01 | -2.48 |
| Martin ratioReturn relative to average drawdown | -1.02 | 8.08 | -9.10 |
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Drawdowns
MSFO vs. SPYG - Drawdown Comparison
The maximum MSFO drawdown since its inception was -29.29%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for MSFO and SPYG.
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Drawdown Indicators
| MSFO | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.29% | -67.63% | +38.34% |
Max Drawdown (1Y)Largest decline over 1 year | -29.29% | -13.76% | -15.53% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.14% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.67% | — |
Current DrawdownCurrent decline from peak | -23.17% | -4.65% | -18.52% |
Average DrawdownAverage peak-to-trough decline | -6.69% | -24.30% | +17.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.60% | 3.42% | +10.18% |
Volatility
MSFO vs. SPYG - Volatility Comparison
YieldMax MSFT Option Income Strategy ETF (MSFO) has a higher volatility of 8.81% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 6.33%. This indicates that MSFO's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFO | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.81% | 6.33% | +2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 19.32% | 13.48% | +5.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.81% | 16.81% | +5.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.81% | 21.27% | -1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.81% | 20.70% | -0.89% |
MSFO vs. SPYG - Expense Ratio Comparison
MSFO has a 0.99% expense ratio, which is higher than SPYG's 0.04% expense ratio.
Dividends
MSFO vs. SPYG - Dividend Comparison
MSFO's dividend yield for the trailing twelve months is around 44.05%, more than SPYG's 0.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSFO YieldMax MSFT Option Income Strategy ETF
| 44.05% | 33.91% | 35.15% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.48% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
MSFO and SPYG have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFO has higher volatility (8.81%) compared to SPYG (6.33%). In terms of maximum drawdown, MSFO dropped -29.29% vs SPYG's -67.63%.
On 1-year performance, SPYG leads with 29.17% vs -13.71% for MSFO. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYG has performed better with a 29.17% return vs -13.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.99% for MSFO.
MSFO has the higher dividend yield at 44.05%, compared with 0.48% for SPYG.
MSFO is categorized as Options Trading, while SPYG is S&P 500. They also come from different issuers: YieldMax and State Street. Their fees differ too: 0.99% for MSFO and 0.04% for SPYG.
SPYG currently has the higher Sharpe Ratio (1.65 vs -0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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