MSFW vs. MSFO

Last updated Aug 4, 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. Over the past year, MSFW returned -11.69% vs -3.86% for MSFO. Their 0.96 correlation means they have historically moved very closely together. MSFW charges 0.99%/yr vs 1.03%/yr for MSFO.

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 -1.17% return, which is significantly lower than MSFO's 0.49% return.

MSFW

• 1D: 6.13%
• 1M: 29.95%
• 6M: 16.42%
• YTD: -1.17%
• 1Y: -11.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -8.65%

MSFO

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

*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
MSFW Roundhill MSFT WeeklyPay™ ETF	$682.19K	$485.58K	$595.84K

MSFW vs. MSFO - Yearly Performance Comparison

	2026 (YTD)	2025
MSFW Roundhill MSFT WeeklyPay™ ETF	-1.17%	-7.80%
MSFO YieldMax MSFT Option Income Strategy ETF	0.49%	-1.81%

Correlation

The correlation between MSFW and MSFO is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.96

The correlation between MSFW and MSFO has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

MSFW vs. MSFO — Risk / Return Rank

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

MSFW

MSFW Risk / Return Rank: 7
MSFW Sharpe Ratio Rank: 7
MSFW Sortino Ratio Rank: 7
MSFW Omega Ratio Rank: 7
MSFW Calmar Ratio Rank: 7
MSFW Martin Ratio Rank: 8

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

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.

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	-0.30	-0.14	-0.16
Sortino ratio: Return per unit of downside risk	-0.20	-0.01	-0.19
Omega ratio: Gain probability vs. loss probability	0.98	1.00	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.28	-0.13	-0.15
Martin ratio: Return relative to average drawdown	-0.49	-0.24	-0.25

MSFW vs. MSFO - Sharpe Ratio Comparison

The current MSFW Sharpe Ratio is -0.30, which is lower than the MSFO Sharpe Ratio of -0.14. The chart below compares the historical Sharpe Ratios of MSFW and MSFO, 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

MSFW vs. MSFO - Drawdown Comparison

The maximum MSFW drawdown since its inception was -41.85%, which is greater than MSFO's maximum drawdown of -29.65%. 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	-41.85%	-29.65%	-12.20%
Max Drawdown (1Y) Largest decline over 1 year	-41.85%	-29.65%	-12.20%
Current Drawdown Current decline from peak	-14.54%	-7.92%	-6.62%
Average Drawdown Average peak-to-trough decline	-19.91%	-7.46%	-12.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.81%	16.15%	+7.66%

Volatility

MSFW vs. MSFO - Volatility Comparison

Roundhill MSFT WeeklyPay™ ETF (MSFW) has a higher volatility of 19.19% compared to YieldMax MSFT Option Income Strategy ETF (MSFO) at 14.36%. This indicates that MSFW's price experiences larger fluctuations and is considered to be riskier than MSFO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFW	MSFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.19%	14.36%	+4.83%
Volatility (6M) Calculated over the trailing 6-month period	32.17%	23.34%	+8.83%
Volatility (1Y) Calculated over the trailing 1-year period	38.68%	27.74%	+10.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.51%	21.90%	+16.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.51%	21.90%	+16.61%

MSFW vs. MSFO - Expense Ratio Comparison

MSFW has a 0.99% expense ratio, which is lower than MSFO's 1.03% expense ratio.

Dividends

MSFW vs. MSFO - Dividend Comparison

MSFW's dividend yield for the trailing twelve months is around 40.59%, more than MSFO's 34.78% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	34.78%	33.91%	35.15%	6.44%
MSFW Roundhill MSFT WeeklyPay™ ETF	40.59%	20.25%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFW and MSFO in my portfolio?

With a correlation of 0.97, 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 is riskier, MSFW or MSFO?

MSFW has higher volatility (19.19%) compared to MSFO (14.36%). In terms of maximum drawdown, MSFW dropped -41.85% vs MSFO's -29.65%.

Which ETF is better, MSFW or MSFO?

On 1-year performance, MSFO leads with -3.86% vs -11.69% for MSFW. On fees, MSFW is cheaper at 0.99% per year. On volatility, MSFO has been the lower-risk option at 14.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFW or MSFO?

Over the 1-year period, MSFO has performed better with a -3.86% return vs -11.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFW or MSFO?

MSFW is cheaper with a 0.99% expense ratio, compared with 1.03% for MSFO.

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

MSFW has the higher dividend yield at 40.59%, compared with 34.78% 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. Their fees differ too: 0.99% for MSFW and 1.03% for MSFO.

Which has better risk-adjusted returns?

MSFO currently has the higher Sharpe Ratio (-0.14 vs -0.30), 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.