MSFO vs. XLRI

Last updated Aug 4, 2026

MSFO (YieldMax MSFT Option Income Strategy ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - MSFO is a Options Trading fund actively managed by YieldMax, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, MSFO returned -3.86% vs 10.04% for XLRI. Their 0.03 correlation means their historical movements had little consistent relationship. MSFO charges 1.03%/yr vs 0.35%/yr for XLRI.

Performance

MSFO vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MSFT Option Income Strategy ETF (MSFO) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFO achieves a 0.49% return, which is significantly lower than XLRI's 7.92% return.

MSFO

• 1D: 4.63%
• 1M: 20.78%
• 6M: 12.36%
• YTD: 0.49%
• 1Y: -3.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.38%

XLRI

• 1D: -0.49%
• 1M: 0.85%
• 6M: 6.33%
• YTD: 7.92%
• 1Y: 10.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSFO YieldMax MSFT Option Income Strategy ETF	$1.07M	$907.81K	$1.05M
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	$67.65K	$68.45K	$64.14K

MSFO vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
MSFO YieldMax MSFT Option Income Strategy ETF	0.49%	-2.77%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	7.92%	-0.57%

Correlation

The correlation between MSFO and XLRI is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.04
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.03

Return for Risk

MSFO vs. XLRI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSFO

MSFO Risk / Return Rank: 9
MSFO Sharpe Ratio Rank: 9
MSFO Sortino Ratio Rank: 9
MSFO Omega Ratio Rank: 9
MSFO Calmar Ratio Rank: 9
MSFO Martin Ratio Rank: 9

XLRI

XLRI Risk / Return Rank: 36
XLRI Sharpe Ratio Rank: 35
XLRI Sortino Ratio Rank: 32
XLRI Omega Ratio Rank: 33
XLRI Calmar Ratio Rank: 38
XLRI Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSFO vs. XLRI - 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 Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	0.92	-1.06
Sortino ratio: Return per unit of downside risk	-0.01	1.29	-1.30
Omega ratio: Gain probability vs. loss probability	1.00	1.17	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.13	1.42	-1.55
Martin ratio: Return relative to average drawdown	-0.24	4.95	-5.19

MSFO vs. XLRI - Sharpe Ratio Comparison

The current MSFO Sharpe Ratio is -0.14, which is lower than the XLRI Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of MSFO and XLRI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSFO vs. XLRI - Drawdown Comparison

The maximum MSFO drawdown since its inception was -29.65%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for MSFO and XLRI.

Drawdown Indicators

	MSFO	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-29.65%	-7.12%	-22.53%
Max Drawdown (1Y) Largest decline over 1 year	-29.65%	-7.12%	-22.53%
Current Drawdown Current decline from peak	-7.92%	-1.11%	-6.81%
Average Drawdown Average peak-to-trough decline	-7.46%	-1.54%	-5.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.15%	2.03%	+14.12%

Volatility

MSFO vs. XLRI - Volatility Comparison

YieldMax MSFT Option Income Strategy ETF (MSFO) has a higher volatility of 14.36% compared to State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI) at 3.34%. This indicates that MSFO's price experiences larger fluctuations and is considered to be riskier than XLRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFO	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.36%	3.34%	+11.02%
Volatility (6M) Calculated over the trailing 6-month period	23.34%	8.74%	+14.60%
Volatility (1Y) Calculated over the trailing 1-year period	27.74%	11.02%	+16.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.90%	11.10%	+10.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.90%	11.10%	+10.80%

MSFO vs. XLRI - Expense Ratio Comparison

MSFO has a 1.03% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

MSFO vs. XLRI - Dividend Comparison

MSFO's dividend yield for the trailing twelve months is around 34.78%, more than XLRI's 14.37% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	34.78%	33.91%	35.15%	6.44%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	14.37%	6.85%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFO and XLRI in my portfolio?

MSFO and XLRI have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFO or XLRI?

MSFO has higher volatility (14.36%) compared to XLRI (3.34%). In terms of maximum drawdown, MSFO dropped -29.65% vs XLRI's -7.12%.

Which ETF is better, MSFO or XLRI?

On 1-year performance, XLRI leads with 10.04% vs -3.86% for MSFO. On fees, XLRI is cheaper at 0.35% per year. On volatility, XLRI has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFO or XLRI?

Over the 1-year period, XLRI has performed better with a 10.04% return vs -3.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFO or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 1.03% for MSFO.

Which ETF pays a higher dividend yield, MSFO or XLRI?

MSFO has the higher dividend yield at 34.78%, compared with 14.37% for XLRI.

What is the main difference between MSFO and XLRI?

MSFO is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: YieldMax and State Street. Their fees differ too: 1.03% for MSFO and 0.35% for XLRI.

Which has better risk-adjusted returns?

XLRI currently has the higher Sharpe Ratio (0.92 vs -0.14), 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.