MSFY vs. RYLD

Last updated Aug 5, 2026

MSFY (Kurv Yield Premium Strategy Microsoft ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both Derivative Income funds. MSFY is actively managed, while RYLD is passively managed. Over the past year, MSFY returned -12.05% vs 24.71% for RYLD. Their 0.34 correlation means their historical movements had little consistent relationship. MSFY charges 1.00%/yr vs 0.60%/yr for RYLD.

Performance

MSFY vs. RYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Microsoft ETF (MSFY) and Global X Russell 2000 Covered Call ETF (RYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFY achieves a -7.56% return, which is significantly lower than RYLD's 14.18% return.

MSFY

• 1D: 1.12%
• 1M: 19.29%
• 6M: 11.06%
• YTD: -7.56%
• 1Y: -12.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.86%

RYLD

• 1D: 0.62%
• 1M: 2.90%
• 6M: 11.01%
• YTD: 14.18%
• 1Y: 24.71%
• 3Y*: 8.92%
• 5Y*: 3.40%
• 10Y*: —
• ALL TIME*: 6.04%

*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)
MSFY Kurv Yield Premium Strategy Microsoft ETF	$332.29K	$251.71K	$274.77K
RYLD Global X Russell 2000 Covered Call ETF	$10.56M	$9.60M	$9.13M

MSFY vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSFY Kurv Yield Premium Strategy Microsoft ETF	-7.56%	14.11%	10.88%	2.57%
RYLD Global X Russell 2000 Covered Call ETF	14.18%	5.65%	10.13%	3.69%

Correlation

The correlation between MSFY and RYLD is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.34

The correlation between MSFY and RYLD shifts across timeframes, from 0.22 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MSFY vs. RYLD — Risk / Return Rank

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

MSFY

MSFY Risk / Return Rank: 6
MSFY Sharpe Ratio Rank: 6
MSFY Sortino Ratio Rank: 6
MSFY Omega Ratio Rank: 6
MSFY Calmar Ratio Rank: 7
MSFY Martin Ratio Rank: 6

RYLD

RYLD Risk / Return Rank: 90
RYLD Sharpe Ratio Rank: 89
RYLD Sortino Ratio Rank: 89
RYLD Omega Ratio Rank: 93
RYLD Calmar Ratio Rank: 88
RYLD Martin Ratio Rank: 91

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.

MSFY vs. RYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Microsoft ETF (MSFY) and Global X Russell 2000 Covered Call ETF (RYLD). 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.

	MSFY	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	2.38	-2.75
Sortino ratio: Return per unit of downside risk	-0.34	3.34	-3.67
Omega ratio: Gain probability vs. loss probability	0.96	1.50	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.34	3.94	-4.28
Martin ratio: Return relative to average drawdown	-0.63	16.16	-16.79

MSFY vs. RYLD - Sharpe Ratio Comparison

The current MSFY Sharpe Ratio is -0.37, which is lower than the RYLD Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of MSFY and RYLD, 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

MSFY vs. RYLD - Drawdown Comparison

The maximum MSFY drawdown since its inception was -35.65%, smaller than the maximum RYLD drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for MSFY and RYLD.

Drawdown Indicators

	MSFY	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-35.65%	-41.53%	+5.88%
Max Drawdown (1Y) Largest decline over 1 year	-35.65%	-6.29%	-29.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.33%	—
Current Drawdown Current decline from peak	-14.60%	0.00%	-14.60%
Average Drawdown Average peak-to-trough decline	-8.44%	-8.64%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.16%	1.53%	+17.63%

Volatility

MSFY vs. RYLD - Volatility Comparison

Kurv Yield Premium Strategy Microsoft ETF (MSFY) has a higher volatility of 14.28% compared to Global X Russell 2000 Covered Call ETF (RYLD) at 2.34%. This indicates that MSFY's price experiences larger fluctuations and is considered to be riskier than RYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFY	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.28%	2.34%	+11.94%
Volatility (6M) Calculated over the trailing 6-month period	27.36%	7.72%	+19.64%
Volatility (1Y) Calculated over the trailing 1-year period	32.50%	10.57%	+21.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.57%	13.98%	+10.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	17.04%	+7.53%

MSFY vs. RYLD - Expense Ratio Comparison

MSFY has a 1.00% expense ratio, which is higher than RYLD's 0.60% expense ratio.

Dividends

MSFY vs. RYLD - Dividend Comparison

MSFY's dividend yield for the trailing twelve months is around 22.66%, more than RYLD's 11.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
MSFY Kurv Yield Premium Strategy Microsoft ETF	22.66%	18.56%	14.35%	1.94%	0.00%	0.00%	0.00%	0.00%
RYLD Global X Russell 2000 Covered Call ETF	11.43%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%

Frequently Asked Questions

Can I hold both MSFY and RYLD in my portfolio?

MSFY and RYLD have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFY or RYLD?

MSFY has higher volatility (14.28%) compared to RYLD (2.34%). In terms of maximum drawdown, MSFY dropped -35.65% vs RYLD's -41.53%.

Which ETF is better, MSFY or RYLD?

On 1-year performance, RYLD leads with 24.71% vs -12.05% for MSFY. On fees, RYLD is cheaper at 0.60% per year. On volatility, RYLD has been the lower-risk option at 2.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFY or RYLD?

Over the 1-year period, RYLD has performed better with a 24.71% return vs -12.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFY or RYLD?

RYLD is cheaper with a 0.60% expense ratio, compared with 1.00% for MSFY.

Which ETF pays a higher dividend yield, MSFY or RYLD?

MSFY has the higher dividend yield at 22.66%, compared with 11.43% for RYLD.

What is the main difference between MSFY and RYLD?

They also come from different issuers: Kurv and Global X. Their fees differ too: 1.00% for MSFY and 0.60% for RYLD.

Which has better risk-adjusted returns?

RYLD currently has the higher Sharpe Ratio (2.38 vs -0.37), 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.