MSFY vs. MSFO

Last updated Aug 1, 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 -13.97% vs -8.12% for MSFO. Their correlation of 0.91 means they have usually moved in the same direction. MSFY charges 1.00%/yr vs 1.03%/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 -10.88% return, which is significantly lower than MSFO's -3.96% return.

MSFY

• 1D: 1.87%
• 1M: 15.01%
• 6M: 1.96%
• YTD: -10.88%
• 1Y: -13.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.47%

MSFO

• 1D: 1.68%
• 1M: 15.44%
• 6M: 6.49%
• YTD: -3.96%
• 1Y: -8.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.66%

*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	$984.76K	$840.67K	$1.06M
MSFY Kurv Yield Premium Strategy Microsoft ETF	$248.37K	$216.41K	$271.72K

MSFY vs. MSFO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSFY Kurv Yield Premium Strategy Microsoft ETF	-10.88%	14.11%	10.88%	2.57%
MSFO YieldMax MSFT Option Income Strategy ETF	-3.96%	15.69%	10.34%	7.92%

Correlation

The correlation between MSFY and MSFO is 0.96 - 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.	0.96
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.91

The correlation between MSFY and MSFO has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

MSFY vs. MSFO — Risk / Return Rank

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

MSFY

MSFY Risk / Return Rank: 6
MSFY Sharpe Ratio Rank: 5
MSFY Sortino Ratio Rank: 6
MSFY Omega Ratio Rank: 5
MSFY Calmar Ratio Rank: 6
MSFY Martin Ratio Rank: 6

MSFO

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

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. 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	-0.46	-0.35	-0.11
Sortino ratio: Return per unit of downside risk	-0.48	-0.36	-0.12
Omega ratio: Gain probability vs. loss probability	0.94	0.96	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.42	-0.32	-0.09
Martin ratio: Return relative to average drawdown	-0.77	-0.59	-0.18

MSFY vs. MSFO - Sharpe Ratio Comparison

The current MSFY Sharpe Ratio is -0.46, which is lower than the MSFO Sharpe Ratio of -0.35. 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	-17.66%	-12.00%	-5.66%
Average Drawdown Average peak-to-trough decline	-8.42%	-7.46%	-0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.11%	16.14%	+2.97%

Volatility

MSFY vs. MSFO - Volatility Comparison

Kurv Yield Premium Strategy Microsoft ETF (MSFY) and YieldMax MSFT Option Income Strategy ETF (MSFO) have volatilities of 14.33% and 13.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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	14.33%	13.86%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	27.28%	22.95%	+4.33%
Volatility (1Y) Calculated over the trailing 1-year period	32.55%	27.49%	+5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.55%	21.75%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.55%	21.75%	+2.80%

MSFY vs. MSFO - Expense Ratio Comparison

MSFY has a 1.00% expense ratio, which is lower than MSFO's 1.03% expense ratio.

Dividends

MSFY vs. MSFO - Dividend Comparison

MSFY's dividend yield for the trailing twelve months is around 23.50%, less than MSFO's 36.39% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	36.39%	33.91%	35.15%	6.44%
MSFY Kurv Yield Premium Strategy Microsoft ETF	23.50%	18.56%	14.35%	1.94%

Frequently Asked Questions

Can I hold both MSFY and MSFO in my portfolio?

With a correlation of 0.96, 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 (14.33%) compared to MSFO (13.86%). 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 -8.12% vs -13.97% for MSFY. On fees, MSFY is cheaper at 1.00% per year. On volatility, MSFO has been the lower-risk option at 13.86%. 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 -8.12% return vs -13.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFY or MSFO?

MSFY is cheaper with a 1.00% expense ratio, compared with 1.03% for MSFO.

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

MSFO has the higher dividend yield at 36.39%, compared with 23.50% 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 1.03% for MSFO.

Which has better risk-adjusted returns?

MSFO currently has the higher Sharpe Ratio (-0.35 vs -0.46), 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.