MSTE.TO vs. CONY
MSTE.TO (Harvest Strategy Inc. Enhanced High Income Shares ETF) and CONY (YieldMax COIN Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, MSTE.TO returned -80.38% vs -53.19% for CONY. A 0.70 correlation means they provide meaningful diversification when combined. MSTE.TO charges 1.89%/yr vs 0.99%/yr for CONY.
Performance
MSTE.TO vs. CONY - Performance Comparison
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Different Trading Currencies
MSTE.TO is traded in CAD, while CONY is traded in USD. To make them comparable, the CONY values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MSTE.TO achieves a -44.46% return, which is significantly lower than CONY's -27.13% return.
MSTE.TO
- 1D
- 13.02%
- 1M
- -46.65%
- YTD
- -44.46%
- 6M
- -45.85%
- 1Y
- -80.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CONY
- 1D
- 1.49%
- 1M
- -14.24%
- YTD
- -27.13%
- 6M
- -29.06%
- 1Y
- -53.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTE.TO vs. CONY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTE.TO Harvest Strategy Inc. Enhanced High Income Shares ETF | -44.46% | -50.82% |
CONY YieldMax COIN Option Income Strategy ETF | -27.13% | -19.95% |
Correlation
The correlation between MSTE.TO and CONY is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2025 | 0.70 |
The correlation between MSTE.TO and CONY has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.
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Return for Risk
MSTE.TO vs. CONY — Risk / Return Rank
MSTE.TO
CONY
MSTE.TO vs. CONY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Strategy Inc. Enhanced High Income Shares ETF (MSTE.TO) 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.
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.
| MSTE.TO | CONY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.84 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.84 | -0.11 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.32 | -0.07 |
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Drawdowns
MSTE.TO vs. CONY - Drawdown Comparison
The maximum MSTE.TO drawdown since its inception was -85.33%, which is greater than CONY's maximum drawdown of -64.73%. Use the drawdown chart below to compare losses from any high point for MSTE.TO and CONY.
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Drawdown Indicators
| MSTE.TO | CONY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.33% | -64.73% | -20.60% |
Max Drawdown (1Y)Largest decline over 1 year | -85.33% | -63.82% | -21.51% |
Current DrawdownCurrent decline from peak | -83.42% | -59.68% | -23.74% |
Average DrawdownAverage peak-to-trough decline | -41.66% | -23.12% | -18.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 57.80% | 40.33% | +17.47% |
Volatility
MSTE.TO vs. CONY - Volatility Comparison
Harvest Strategy Inc. Enhanced High Income Shares ETF (MSTE.TO) has a higher volatility of 31.28% compared to YieldMax COIN Option Income Strategy ETF (CONY) at 16.04%. This indicates that MSTE.TO's price experiences larger fluctuations and is considered to be riskier than CONY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTE.TO | CONY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.28% | 16.04% | +15.24% |
Volatility (6M)Calculated over the trailing 6-month period | 67.24% | 45.08% | +22.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 81.89% | 57.78% | +24.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 86.11% | 60.09% | +26.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.11% | 60.09% | +26.02% |
MSTE.TO vs. CONY - Expense Ratio Comparison
MSTE.TO has a 1.89% expense ratio, which is higher than CONY's 0.99% expense ratio.
Dividends
MSTE.TO vs. CONY - Dividend Comparison
MSTE.TO's dividend yield for the trailing twelve months is around 214.66%, more than CONY's 190.08% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | 190.08% | 192.07% | 155.66% | 16.43% |
MSTE.TO Harvest Strategy Inc. Enhanced High Income Shares ETF | 214.66% | 121.40% | 0.00% | 0.00% |
Frequently Asked Questions
MSTE.TO and CONY have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CONY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CONY is cheaper with a 0.99% expense ratio, compared with 1.89% for MSTE.TO.
They also come from different issuers: Harvest and YieldMax. Their fees differ too: 1.89% for MSTE.TO and 0.99% for CONY.
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