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MSFO vs. SPYI
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

MSFO vs. SPYI

Last updated May 15, 2025

Compare and contrast key facts about YieldMax MSFT Option Income Strategy ETF (MSFO) and NEOS S&P 500 High Income ETF (SPYI).

MSFO and SPYI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSFO is an actively managed fund by YieldMax. It was launched on Aug 24, 2023. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MSFO or SPYI.

Correlation

The correlation between MSFO and SPYI is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Performance

MSFO vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MSFT Option Income Strategy ETF (MSFO) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

MSFO:

0.29

SPYI:

0.71

Sortino Ratio

MSFO:

0.57

SPYI:

1.13

Omega Ratio

MSFO:

1.08

SPYI:

1.19

Calmar Ratio

MSFO:

0.33

SPYI:

0.76

Martin Ratio

MSFO:

0.74

SPYI:

3.19

Ulcer Index

MSFO:

8.41%

SPYI:

3.91%

Daily Std Dev

MSFO:

20.60%

SPYI:

17.12%

Max Drawdown

MSFO:

-19.16%

SPYI:

-16.47%

Current Drawdown

MSFO:

-0.96%

SPYI:

-3.09%

Returns By Period

In the year-to-date period, MSFO achieves a 7.38% return, which is significantly higher than SPYI's 1.00% return.

MSFO

YTD

7.38%

1M

12.50%

6M

5.35%

1Y

5.85%

5Y*

N/A

10Y*

N/A

SPYI

YTD

1.00%

1M

7.32%

6M

-0.11%

1Y

12.03%

5Y*

N/A

10Y*

N/A

*Annualized

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MSFO vs. SPYI - Expense Ratio Comparison

MSFO has a 0.99% expense ratio, which is higher than SPYI's 0.68% expense ratio.

MSFO
YieldMax MSFT Option Income Strategy ETF
SPYI
NEOS S&P 500 High Income ETF

Risk-Adjusted Performance

MSFO vs. SPYI — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MSFO
The Risk-Adjusted Performance Rank of MSFO is 3232
Overall Rank
The Sharpe Ratio Rank of MSFO is 3030
Sharpe Ratio Rank
The Sortino Ratio Rank of MSFO is 3232
Sortino Ratio Rank
The Omega Ratio Rank of MSFO is 3232
Omega Ratio Rank
The Calmar Ratio Rank of MSFO is 3838
Calmar Ratio Rank
The Martin Ratio Rank of MSFO is 2727
Martin Ratio Rank
SPYI
The Risk-Adjusted Performance Rank of SPYI is 7171
Overall Rank
The Sharpe Ratio Rank of SPYI is 6666
Sharpe Ratio Rank
The Sortino Ratio Rank of SPYI is 6767
Sortino Ratio Rank
The Omega Ratio Rank of SPYI is 7676
Omega Ratio Rank
The Calmar Ratio Rank of SPYI is 7171
Calmar Ratio Rank
The Martin Ratio Rank of SPYI is 7474
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

MSFO vs. SPYI - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) and NEOS S&P 500 High Income ETF (SPYI). 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.

The current MSFO Sharpe Ratio is 0.29, which is lower than the SPYI Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of MSFO and SPYI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Dividends

MSFO vs. SPYI - Dividend Comparison

MSFO's dividend yield for the trailing twelve months is around 28.70%, more than SPYI's 12.46% yield.

TTM202420232022
MSFO
YieldMax MSFT Option Income Strategy ETF 		28.70%35.17%6.44%0.00%
SPYI
NEOS S&P 500 High Income ETF		12.46%12.04%12.01%4.10%

Drawdowns

MSFO vs. SPYI - Drawdown Comparison

The maximum MSFO drawdown since its inception was -19.16%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for MSFO and SPYI. For additional features, visit the drawdowns tool.

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Volatility

MSFO vs. SPYI - Volatility Comparison

YieldMax MSFT Option Income Strategy ETF (MSFO) has a higher volatility of 8.34% compared to NEOS S&P 500 High Income ETF (SPYI) at 5.49%. This indicates that MSFO's price experiences larger fluctuations and is considered to be riskier than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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