MSR vs. IVVW

Last updated Jul 21, 2026

MSR (GraniteShares Autocallable MSTR ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. MSR is actively managed, while IVVW is passively managed. At a 0.39 correlation, their price movements are largely independent. MSR charges 1.07%/yr vs 0.25%/yr for IVVW.

Performance

MSR vs. IVVW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Autocallable MSTR ETF (MSR) and iShares S&P 500 BuyWrite ETF (IVVW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSR

• 1D: 3.32%
• 1M: -15.44%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

IVVW

• 1D: 0.11%
• 1M: 0.80%
• 6M: 5.28%
• YTD: 6.13%
• 1Y: 17.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.17%

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

MSR vs. IVVW - Yearly Performance Comparison

	2026 (YTD)
MSR GraniteShares Autocallable MSTR ETF	-39.20%
IVVW iShares S&P 500 BuyWrite ETF	2.51%

Correlation

The correlation between MSR and IVVW is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 12, 2026	0.39

Return for Risk

MSR vs. IVVW — Risk / Return Rank

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

MSR

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IVVW

IVVW Risk / Return Rank: 86
IVVW Sharpe Ratio Rank: 87
IVVW Sortino Ratio Rank: 85
IVVW Omega Ratio Rank: 90
IVVW Calmar Ratio Rank: 79
IVVW Martin Ratio Rank: 91

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.

MSR vs. IVVW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Autocallable MSTR ETF (MSR) and iShares S&P 500 BuyWrite ETF (IVVW). 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.

	MSR	IVVW	Difference
Sharpe ratio: Return per unit of total volatility	—	2.12	—
Sortino ratio: Return per unit of downside risk	—	2.92	—
Omega ratio: Gain probability vs. loss probability	—	1.45	—
Calmar ratio: Return relative to maximum drawdown	—	3.00	—
Martin ratio: Return relative to average drawdown	—	15.87	—

Drawdowns

MSR vs. IVVW - Drawdown Comparison

The maximum MSR drawdown since its inception was -50.94%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for MSR and IVVW.

Drawdown Indicators

	MSR	IVVW	Difference
Max Drawdown Largest peak-to-trough decline	-50.94%	-16.79%	-34.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.81%	—
Current Drawdown Current decline from peak	-41.12%	-1.00%	-40.12%
Average Drawdown Average peak-to-trough decline	-26.61%	-1.69%	-24.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.10%	—

Volatility

Volatility by Period

	MSR	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	75.10%	8.24%	+66.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.10%	12.56%	+62.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.10%	12.56%	+62.54%

MSR vs. IVVW - Expense Ratio Comparison

MSR has a 1.07% expense ratio, which is higher than IVVW's 0.25% expense ratio.

Dividends

MSR vs. IVVW - Dividend Comparison

MSR's dividend yield for the trailing twelve months is around 5.05%, less than IVVW's 19.18% yield.

Position	TTM	2025	2024
IVVW iShares S&P 500 BuyWrite ETF	19.18%	18.55%	13.72%
MSR GraniteShares Autocallable MSTR ETF	5.05%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSR and IVVW in my portfolio?

MSR and IVVW have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSR or IVVW?

On fees, IVVW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSR or IVVW?

IVVW is cheaper with a 0.25% expense ratio, compared with 1.07% for MSR.

Which ETF pays a higher dividend yield, MSR or IVVW?

IVVW has the higher dividend yield at 19.18%, compared with 5.05% for MSR.

What is the main difference between MSR and IVVW?

They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.07% for MSR and 0.25% for IVVW.