MSFY vs. MSFO

Last updated Jul 14, 2026

MSFY (Kurv Yield Premium Strategy Microsoft ETF) and MSFO (YieldMax MSFT Option Income Strategy ETF ) are both exchange-traded funds - MSFY is a Derivative Income fund actively managed by Kurv, while MSFO is a Options Trading fund actively managed by YieldMax. Both are actively managed. Over the past year, MSFY returned -21.89% vs -17.30% for MSFO. Their correlation of 0.90 suggests significant overlap in exposure. MSFY charges 1.00%/yr vs 0.99%/yr for MSFO.

Performance

MSFY vs. MSFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Microsoft ETF (MSFY) 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, MSFY achieves a -22.42% return, which is significantly lower than MSFO's -16.34% return.

MSFY

• 1D: 1.69%
• 1M: 0.10%
• 6M: -21.15%
• YTD: -22.42%
• 1Y: -21.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFO

• 1D: 1.61%
• 1M: -0.22%
• 6M: -15.04%
• YTD: -16.34%
• 1Y: -17.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFY vs. MSFO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSFY Kurv Yield Premium Strategy Microsoft ETF	-22.42%	14.11%	10.88%	2.57%
MSFO YieldMax MSFT Option Income Strategy ETF	-16.34%	15.69%	10.34%	7.92%

Correlation

The correlation between MSFY and MSFO is 0.95 - 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 (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.90

The correlation between MSFY and MSFO has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

MSFY vs. MSFO — Risk / Return Rank

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

MSFY

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

MSFO

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

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.

MSFY vs. MSFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Microsoft ETF (MSFY) 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.

	MSFY	MSFO	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	-0.74	-0.01
Sortino ratio: Return per unit of downside risk	-0.92	-0.92	+0.01
Omega ratio: Gain probability vs. loss probability	0.88	0.88	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.62	-0.59	-0.03
Martin ratio: Return relative to average drawdown	-1.22	-1.14	-0.08

MSFY vs. MSFO - Sharpe Ratio Comparison

The current MSFY Sharpe Ratio is -0.76, which is comparable to the MSFO Sharpe Ratio of -0.74. The chart below compares the historical Sharpe Ratios of MSFY 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

MSFY vs. MSFO - Drawdown Comparison

The maximum MSFY drawdown since its inception was -35.65%, which is greater than MSFO's maximum drawdown of -29.65%. Use the drawdown chart below to compare losses from any high point for MSFY and MSFO.

Drawdown Indicators

	MSFY	MSFO	Difference
Max Drawdown Largest peak-to-trough decline	-35.65%	-29.65%	-6.00%
Max Drawdown (1Y) Largest decline over 1 year	-35.65%	-29.65%	-6.00%
Current Drawdown Current decline from peak	-28.32%	-23.34%	-4.98%
Average Drawdown Average peak-to-trough decline	-8.03%	-7.17%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.02%	15.26%	+2.76%

Volatility

MSFY vs. MSFO - Volatility Comparison

Kurv Yield Premium Strategy Microsoft ETF (MSFY) has a higher volatility of 11.94% compared to YieldMax MSFT Option Income Strategy ETF (MSFO) at 9.07%. This indicates that MSFY'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

	MSFY	MSFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.94%	9.07%	+2.87%
Volatility (6M) Calculated over the trailing 6-month period	27.39%	20.91%	+6.48%
Volatility (1Y) Calculated over the trailing 1-year period	29.12%	23.42%	+5.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.12%	20.22%	+2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.12%	20.22%	+2.90%

MSFY vs. MSFO - Expense Ratio Comparison

MSFY has a 1.00% expense ratio, which is higher than MSFO's 0.99% expense ratio.

Dividends

MSFY vs. MSFO - Dividend Comparison

MSFY's dividend yield for the trailing twelve months is around 25.52%, less than MSFO's 42.86% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	42.86%	33.91%	35.15%	6.44%
MSFY Kurv Yield Premium Strategy Microsoft ETF	25.52%	18.56%	14.35%	1.94%

Frequently Asked Questions

Can I hold both MSFY and MSFO in my portfolio?

With a correlation of 0.95, MSFY 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, MSFY or MSFO?

MSFY has higher volatility (11.94%) compared to MSFO (9.07%). In terms of maximum drawdown, MSFY dropped -35.65% vs MSFO's -29.65%.

Which ETF is better, MSFY or MSFO?

On 1-year performance, MSFO leads with -17.30% vs -21.89% for MSFY. On fees, MSFO is cheaper at 0.99% per year. On volatility, MSFO has been the lower-risk option at 9.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFY or MSFO?

Over the 1-year period, MSFO has performed better with a -17.30% return vs -21.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFY or MSFO?

MSFO is cheaper with a 0.99% expense ratio, compared with 1.00% for MSFY.

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

MSFO has the higher dividend yield at 42.86%, compared with 25.52% for MSFY.

What is the main difference between MSFY and MSFO?

MSFY is categorized as Derivative Income, while MSFO is Options Trading. They also come from different issuers: Kurv and YieldMax. Their fees differ too: 1.00% for MSFY and 0.99% for MSFO.

Which has better risk-adjusted returns?

MSFO currently has the higher Sharpe Ratio (-0.74 vs -0.76), 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.