MSST vs. EMLP
MSST (YieldMax MSTR Performance & Distribution Target 25 ETF) and EMLP (First Trust North American Energy Infrastructure Fund) are both exchange-traded funds - MSST is a Derivative Income fund actively managed by YieldMax, while EMLP is a MLPs fund actively managed by First Trust. Both are actively managed. At a correlation of -0.03, they often move in opposite directions. MSST charges 0.99%/yr vs 0.96%/yr for EMLP.
Performance
MSST vs. EMLP - Performance Comparison
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Returns By Period
In the year-to-date period, MSST achieves a -33.85% return, which is significantly lower than EMLP's 17.02% return.
MSST
- 1D
- 6.17%
- 1M
- -25.86%
- 6M
- -33.85%
- YTD
- -33.85%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMLP
- 1D
- 1.32%
- 1M
- 2.03%
- 6M
- 17.02%
- YTD
- 17.02%
- 1Y
- 21.29%
- 3Y*
- 21.26%
- 5Y*
- 15.96%
- 10Y*
- 9.97%
MSST vs. EMLP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSST YieldMax MSTR Performance & Distribution Target 25 ETF | -33.85% | -24.58% |
EMLP First Trust North American Energy Infrastructure Fund | 17.02% | -0.67% |
Correlation
The correlation between MSST and EMLP 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 18, 2025 | -0.03 |
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Return for Risk
MSST vs. EMLP — Risk / Return Rank
MSST
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EMLP
MSST vs. EMLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MSTR Performance & Distribution Target 25 ETF (MSST) and First Trust North American Energy Infrastructure Fund (EMLP). 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.
| MSST | EMLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.36 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.33 | — |
| Martin ratioReturn relative to average drawdown | — | 12.47 | — |
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Drawdowns
MSST vs. EMLP - Drawdown Comparison
The maximum MSST drawdown since its inception was -58.68%, which is greater than EMLP's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for MSST and EMLP.
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Drawdown Indicators
| MSST | EMLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.68% | -43.61% | -15.07% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.94% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.61% | — |
Current DrawdownCurrent decline from peak | -50.11% | -1.60% | -48.51% |
Average DrawdownAverage peak-to-trough decline | -25.55% | -5.74% | -19.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.71% | — |
Volatility
MSST vs. EMLP - Volatility Comparison
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Volatility by Period
| MSST | EMLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.27% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.19% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 75.61% | 10.01% | +65.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.61% | 14.51% | +61.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 75.61% | 17.67% | +57.94% |
MSST vs. EMLP - Expense Ratio Comparison
MSST has a 0.99% expense ratio, which is higher than EMLP's 0.96% expense ratio.
Dividends
MSST vs. EMLP - Dividend Comparison
MSST's dividend yield for the trailing twelve months is around 24.05%, more than EMLP's 2.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 2.78% | 3.18% | 3.19% | 3.92% | 3.15% | 3.29% | 4.70% | 3.71% | 4.71% | 3.80% | 3.62% | 4.63% |
MSST YieldMax MSTR Performance & Distribution Target 25 ETF | 24.05% | 2.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSST and EMLP 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.
On fees, EMLP is cheaper at 0.96% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMLP is cheaper with a 0.96% expense ratio, compared with 0.99% for MSST.
MSST has the higher dividend yield at 24.05%, compared with 2.78% for EMLP.
MSST is categorized as Derivative Income, while EMLP is MLPs. They also come from different issuers: YieldMax and First Trust. Their fees differ too: 0.99% for MSST and 0.96% for EMLP.
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