MSFW vs. MSFO

Last updated Jun 24, 2026

MSFW (Roundhill MSFT WeeklyPay™ ETF) and MSFO (YieldMax MSFT Option Income Strategy ETF ) are both exchange-traded funds - MSFW is a Derivative Income fund actively managed by Roundhill, while MSFO is a Options Trading fund actively managed by YieldMax. Both are actively managed. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.99% expense ratio.

Performance

MSFW vs. MSFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill MSFT WeeklyPay™ ETF (MSFW) and YieldMax MSFT Option Income Strategy ETF (MSFO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFW achieves a -27.29% return, which is significantly lower than MSFO's -18.98% return.

MSFW

• 1D: 2.55%
• 1M: -12.61%
• YTD: -27.29%
• 6M: -27.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFO

• 1D: 1.83%
• 1M: -10.24%
• YTD: -18.98%
• 6M: -19.24%
• 1Y: -18.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFW vs. MSFO - Yearly Performance Comparison

	2026 (YTD)	2025
MSFW Roundhill MSFT WeeklyPay™ ETF	-27.29%	-7.80%
MSFO YieldMax MSFT Option Income Strategy ETF	-18.98%	-1.81%

Correlation

The correlation between MSFW and MSFO is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.96

Return for Risk

MSFW vs. MSFO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MSFW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MSFO

MSFO Risk / Return Rank: 3
MSFO Sharpe Ratio Rank: 3
MSFO Sortino Ratio Rank: 3
MSFO Omega Ratio Rank: 3
MSFO Calmar Ratio Rank: 4
MSFO Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MSFW vs. MSFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill MSFT WeeklyPay™ ETF (MSFW) and YieldMax MSFT Option Income Strategy ETF (MSFO). 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.

	MSFW	MSFO	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.81	—
Sortino ratio: Return per unit of downside risk	—	-1.01	—
Omega ratio: Gain probability vs. loss probability	—	0.87	—
Calmar ratio: Return relative to maximum drawdown	—	-0.62	—
Martin ratio: Return relative to average drawdown	—	-1.28	—

Drawdowns

MSFW vs. MSFO - Drawdown Comparison

The maximum MSFW drawdown since its inception was -40.42%, which is greater than MSFO's maximum drawdown of -29.29%. Use the drawdown chart below to compare losses from any high point for MSFW and MSFO.

Drawdown Indicators

	MSFW	MSFO	Difference
Max Drawdown Largest peak-to-trough decline	-40.42%	-29.29%	-11.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-29.29%	—
Current Drawdown Current decline from peak	-37.13%	-25.76%	-11.37%
Average Drawdown Average peak-to-trough decline	-18.26%	-6.84%	-11.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	14.12%	—

Volatility

Volatility by Period

	MSFW	MSFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.71%	22.40%	+10.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.71%	19.97%	+12.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.71%	19.97%	+12.74%

MSFW vs. MSFO - Expense Ratio Comparison

Both MSFW and MSFO have an expense ratio of 0.99%.

Dividends

MSFW vs. MSFO - Dividend Comparison

MSFW's dividend yield for the trailing twelve months is around 48.66%, more than MSFO's 46.39% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	46.39%	33.91%	35.15%	6.44%
MSFW Roundhill MSFT WeeklyPay™ ETF	48.66%	20.25%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFW and MSFO in my portfolio?

With a correlation of 0.96, MSFW and MSFO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, MSFW or MSFO?

Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSFW or MSFO?

MSFW and MSFO have the same expense ratio: 0.99% per year.

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

MSFW has the higher dividend yield at 48.66%, compared with 46.39% for MSFO.

What is the main difference between MSFW and MSFO?

MSFW is categorized as Derivative Income, while MSFO is Options Trading. They also come from different issuers: Roundhill and YieldMax.