MSGS vs. ULTY

Last updated Jun 4, 2026

MSGS (Madison Square Garden Sports Corp.) is a stock, while ULTY (YieldMax Ultra Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax. Over the past year, MSGS returned 101.13% vs 8.24% for ULTY. At a 0.35 correlation, their price movements are largely independent.

Performance

MSGS vs. ULTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Square Garden Sports Corp. (MSGS) and YieldMax Ultra Option Income Strategy ETF (ULTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSGS achieves a 47.23% return, which is significantly higher than ULTY's 11.14% return.

MSGS

• 1D: -0.50%
• 1M: 11.95%
• YTD: 47.23%
• 6M: 70.36%
• 1Y: 101.13%
• 3Y*: 28.76%
• 5Y*: 17.73%
• 10Y*: 16.70%

ULTY

• 1D: -1.25%
• 1M: 4.53%
• YTD: 11.14%
• 6M: 9.84%
• 1Y: 8.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSGS vs. ULTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSGS Madison Square Garden Sports Corp.	47.23%	14.61%	19.92%
ULTY YieldMax Ultra Option Income Strategy ETF	11.14%	-0.84%	0.54%

Correlation

The correlation between MSGS and ULTY is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Mar 1, 2024	0.35

Return for Risk

MSGS vs. ULTY — Risk / Return Rank

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

MSGS

MSGS Risk / Return Rank: 97
MSGS Sharpe Ratio Rank: 96
MSGS Sortino Ratio Rank: 97
MSGS Omega Ratio Rank: 96
MSGS Calmar Ratio Rank: 97
MSGS Martin Ratio Rank: 96

ULTY

ULTY Risk / Return Rank: 13
ULTY Sharpe Ratio Rank: 14
ULTY Sortino Ratio Rank: 14
ULTY Omega Ratio Rank: 14
ULTY Calmar Ratio Rank: 13
ULTY Martin Ratio Rank: 12

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.

MSGS vs. ULTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Square Garden Sports Corp. (MSGS) and YieldMax Ultra Option Income Strategy ETF (ULTY). 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.

	MSGS	ULTY	Difference
Sharpe ratio: Return per unit of total volatility	3.45	0.40	+3.05
Sortino ratio: Return per unit of downside risk	4.98	0.66	+4.32
Omega ratio: Gain probability vs. loss probability	1.64	1.08	+0.56
Calmar ratio: Return relative to maximum drawdown	10.09	0.34	+9.75
Martin ratio: Return relative to average drawdown	24.05	0.67	+23.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSGS vs. ULTY - Sharpe Ratio Comparison

The current MSGS Sharpe Ratio is 3.45, which is higher than the ULTY Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of MSGS and ULTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSGS	ULTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.45	0.40	+3.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.17	+0.35

Drawdowns

MSGS vs. ULTY - Drawdown Comparison

The maximum MSGS drawdown since its inception was -41.57%, which is greater than ULTY's maximum drawdown of -26.85%. Use the drawdown chart below to compare losses from any high point for MSGS and ULTY.

Drawdown Indicators

	MSGS	ULTY	Difference
Max Drawdown Largest peak-to-trough decline	-41.57%	-26.85%	-14.72%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-24.16%	+14.08%
Max Drawdown (3Y) Largest decline over 3 years	-25.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.96%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.57%	—	—
Current Drawdown Current decline from peak	-0.50%	-8.88%	+8.38%
Average Drawdown Average peak-to-trough decline	-10.58%	-9.37%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	12.31%	-8.09%

Volatility

MSGS vs. ULTY - Volatility Comparison

Madison Square Garden Sports Corp. (MSGS) has a higher volatility of 7.21% compared to YieldMax Ultra Option Income Strategy ETF (ULTY) at 4.51%. This indicates that MSGS's price experiences larger fluctuations and is considered to be riskier than ULTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSGS	ULTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	4.51%	+2.70%
Volatility (6M) Calculated over the trailing 6-month period	23.35%	15.03%	+8.32%
Volatility (1Y) Calculated over the trailing 1-year period	29.52%	20.79%	+8.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.35%	26.92%	-1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.44%	26.92%	+4.52%

Dividends

MSGS vs. ULTY - Dividend Comparison

MSGS has not paid dividends to shareholders, while ULTY's dividend yield for the trailing twelve months is around 114.67%.

Position	TTM	2025	2024	2023	2022	2021	2020
MSGS Madison Square Garden Sports Corp.	0.00%	0.00%	0.00%	0.00%	3.82%	0.00%	36.97%
ULTY YieldMax Ultra Option Income Strategy ETF	114.67%	142.99%	111.70%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSGS and ULTY in my portfolio?

MSGS and ULTY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSGS or ULTY?

MSGS has higher volatility (7.21%) compared to ULTY (4.51%). In terms of maximum drawdown, MSGS dropped -41.57% vs ULTY's -26.85%.

Which has better risk-adjusted returns?

MSGS currently has the higher Sharpe Ratio (3.45 vs 0.40), 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.