MSST vs. CONY
MSST (YieldMax MSTR Performance & Distribution Target 25 ETF) and CONY (YieldMax COIN Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.99% expense ratio.
Performance
MSST vs. CONY - Performance Comparison
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Returns By Period
In the year-to-date period, MSST achieves a -20.98% return, which is significantly higher than CONY's -29.61% return.
MSST
- 1D
- -7.10%
- 1M
- -34.34%
- YTD
- -20.98%
- 6M
- -31.73%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CONY
- 1D
- -6.41%
- 1M
- -19.86%
- YTD
- -29.61%
- 6M
- -38.52%
- 1Y
- -43.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSST vs. CONY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSST YieldMax MSTR Performance & Distribution Target 25 ETF | -20.98% | -22.94% |
CONY YieldMax COIN Option Income Strategy ETF | -29.61% | -11.84% |
Correlation
The correlation between MSST and CONY is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.82 |
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Return for Risk
MSST vs. CONY — Risk / Return Rank
MSST
CONY
MSST vs. CONY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MSTR Performance & Distribution Target 25 ETF (MSST) and YieldMax COIN Option Income Strategy ETF (CONY). 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.
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Sharpe Ratios by Period
| MSST | CONY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.74 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.83 | 0.09 | -0.92 |
Drawdowns
MSST vs. CONY - Drawdown Comparison
The maximum MSST drawdown since its inception was -44.05%, smaller than the maximum CONY drawdown of -63.57%. Use the drawdown chart below to compare losses from any high point for MSST and CONY.
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Drawdown Indicators
| MSST | CONY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.05% | -63.57% | +19.52% |
Max Drawdown (1Y)Largest decline over 1 year | — | -63.39% | — |
Current DrawdownCurrent decline from peak | -39.11% | -60.12% | +21.01% |
Average DrawdownAverage peak-to-trough decline | -21.28% | -22.27% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 38.04% | — |
Volatility
MSST vs. CONY - Volatility Comparison
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Volatility by Period
| MSST | CONY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 16.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 43.86% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 72.68% | 58.47% | +14.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.68% | 60.10% | +12.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.68% | 60.10% | +12.58% |
MSST vs. CONY - Expense Ratio Comparison
Both MSST and CONY have an expense ratio of 0.99%.
Dividends
MSST vs. CONY - Dividend Comparison
MSST's dividend yield for the trailing twelve months is around 17.99%, less than CONY's 204.87% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | 204.87% | 192.07% | 155.66% | 16.43% |
MSST YieldMax MSTR Performance & Distribution Target 25 ETF | 17.99% | 2.71% | 0.00% | 0.00% |
Frequently Asked Questions
MSST and CONY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MSST and CONY have the same expense ratio: 0.99% per year.
CONY has the higher dividend yield at 204.87%, compared with 17.99% for MSST.
Find the right allocation for MSST and CONY
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