MSST vs. BDRY

Last updated Jun 6, 2026

MSST (YieldMax MSTR Performance & Distribution Target 25 ETF) and BDRY (Breakwave Dry Bulk Shipping ETF) are both exchange-traded funds - MSST is a Derivative Income fund actively managed by YieldMax, while BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index. MSST is actively managed, while BDRY is passively managed. At a correlation of -0.03, they often move in opposite directions. MSST charges 0.99%/yr vs 3.76%/yr for BDRY.

Performance

MSST vs. BDRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MSTR Performance & Distribution Target 25 ETF (MSST) and Breakwave Dry Bulk Shipping ETF (BDRY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSST achieves a -20.98% return, which is significantly lower than BDRY's 44.81% return.

MSST

• 1D: -7.10%
• 1M: -34.34%
• YTD: -20.98%
• 6M: -31.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDRY

• 1D: 0.32%
• 1M: 4.87%
• YTD: 44.81%
• 6M: 41.11%
• 1Y: 131.33%
• 3Y*: 24.70%
• 5Y*: -11.58%
• 10Y*: —

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

MSST vs. BDRY - Yearly Performance Comparison

	2026 (YTD)	2025
MSST YieldMax MSTR Performance & Distribution Target 25 ETF	-20.98%	-22.94%
BDRY Breakwave Dry Bulk Shipping ETF	44.81%	-2.45%

Correlation

The correlation between MSST and BDRY is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	-0.03

Return for Risk

MSST vs. BDRY — Risk / Return Rank

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

BDRY

BDRY Risk / Return Rank: 85
BDRY Sharpe Ratio Rank: 92
BDRY Sortino Ratio Rank: 79
BDRY Omega Ratio Rank: 75
BDRY Calmar Ratio Rank: 92
BDRY Martin Ratio Rank: 86

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.

MSST vs. BDRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MSTR Performance & Distribution Target 25 ETF (MSST) and Breakwave Dry Bulk Shipping ETF (BDRY). 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.

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

Sharpe Ratios by Period

	MSST	BDRY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.14	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.83	-0.13	-0.70

Drawdowns

MSST vs. BDRY - Drawdown Comparison

The maximum MSST drawdown since its inception was -44.05%, smaller than the maximum BDRY drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for MSST and BDRY.

Drawdown Indicators

	MSST	BDRY	Difference
Max Drawdown Largest peak-to-trough decline	-44.05%	-89.16%	+45.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.60%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-69.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-89.16%	—
Current Drawdown Current decline from peak	-39.11%	-69.40%	+30.29%
Average Drawdown Average peak-to-trough decline	-21.28%	-58.39%	+37.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.41%	—

Volatility

Volatility by Period

	MSST	BDRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	29.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	72.68%	42.09%	+30.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.68%	60.66%	+12.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.68%	62.55%	+10.13%

MSST vs. BDRY - Expense Ratio Comparison

MSST has a 0.99% expense ratio, which is lower than BDRY's 3.76% expense ratio.

Dividends

MSST vs. BDRY - Dividend Comparison

MSST's dividend yield for the trailing twelve months is around 17.99%, while BDRY has not paid dividends to shareholders.

Position	TTM	2025
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%
MSST YieldMax MSTR Performance & Distribution Target 25 ETF	17.99%	2.71%

Frequently Asked Questions

Can I hold both MSST and BDRY in my portfolio?

MSST and BDRY have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSST or BDRY?

On fees, MSST is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSST or BDRY?

MSST is cheaper with a 0.99% expense ratio, compared with 3.76% for BDRY.

Which ETF pays a higher dividend yield, MSST or BDRY?

MSST has the higher dividend yield at 17.99%, compared with 0.00% for BDRY.

What is the main difference between MSST and BDRY?

MSST is categorized as Derivative Income, while BDRY is Commodities. They also come from different issuers: YieldMax and ETFMG. Their fees differ too: 0.99% for MSST and 3.76% for BDRY.