MSTI vs. MSTY

Last updated Jul 12, 2026

MSTI (Madison Short-Term Strategic Income ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - MSTI is a Short-Term Bond fund actively managed by Madison, while MSTY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, MSTI returned 3.69% vs -73.21% for MSTY. At a 0.17 correlation, their price movements are largely independent. MSTI charges 0.40%/yr vs 0.99%/yr for MSTY.

Performance

MSTI vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Short-Term Strategic Income ETF (MSTI) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTI achieves a 0.77% return, which is significantly higher than MSTY's -34.22% return.

MSTI

• 1D: -0.05%
• 1M: 0.05%
• 6M: 0.67%
• YTD: 0.77%
• 1Y: 3.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: 0.79%
• 1M: -21.68%
• 6M: -35.96%
• YTD: -34.22%
• 1Y: -73.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTI vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTI Madison Short-Term Strategic Income ETF	0.77%	6.33%	4.99%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-34.22%	-42.71%	212.16%

Correlation

The correlation between MSTI and MSTY is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.17

Return for Risk

MSTI vs. MSTY — Risk / Return Rank

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

MSTI

MSTI Risk / Return Rank: 63
MSTI Sharpe Ratio Rank: 55
MSTI Sortino Ratio Rank: 57
MSTI Omega Ratio Rank: 60
MSTI Calmar Ratio Rank: 68
MSTI Martin Ratio Rank: 76

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 0
MSTY Omega Ratio Rank: 0
MSTY Calmar Ratio Rank: 1
MSTY Martin Ratio Rank: 2

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.

MSTI vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Short-Term Strategic Income ETF (MSTI) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). 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.

	MSTI	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	1.49	-1.13	+2.62
Sortino ratio: Return per unit of downside risk	2.21	-2.27	+4.48
Omega ratio: Gain probability vs. loss probability	1.30	0.76	+0.54
Calmar ratio: Return relative to maximum drawdown	2.73	-0.94	+3.67
Martin ratio: Return relative to average drawdown	11.21	-1.40	+12.61

MSTI vs. MSTY - Sharpe Ratio Comparison

The current MSTI Sharpe Ratio is 1.49, which is higher than the MSTY Sharpe Ratio of -1.13. The chart below compares the historical Sharpe Ratios of MSTI and MSTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSTI vs. MSTY - Drawdown Comparison

The maximum MSTI drawdown since its inception was -1.48%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for MSTI and MSTY.

Drawdown Indicators

	MSTI	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-1.48%	-77.40%	+75.92%
Max Drawdown (1Y) Largest decline over 1 year	-1.32%	-77.40%	+76.08%
Current Drawdown Current decline from peak	-0.27%	-74.14%	+73.87%
Average Drawdown Average peak-to-trough decline	-0.28%	-27.93%	+27.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	51.98%	-51.66%

Volatility

MSTI vs. MSTY - Volatility Comparison

The current volatility for Madison Short-Term Strategic Income ETF (MSTI) is 0.48%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 23.73%. This indicates that MSTI experiences smaller price fluctuations and is considered to be less risky than MSTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTI	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	23.73%	-23.25%
Volatility (6M) Calculated over the trailing 6-month period	1.57%	53.10%	-51.53%
Volatility (1Y) Calculated over the trailing 1-year period	2.41%	64.53%	-62.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.68%	72.37%	-69.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.68%	72.37%	-69.69%

MSTI vs. MSTY - Expense Ratio Comparison

MSTI has a 0.40% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

MSTI vs. MSTY - Dividend Comparison

MSTI's dividend yield for the trailing twelve months is around 5.35%, less than MSTY's 283.56% yield.

Position	TTM	2025	2024	2023
MSTI Madison Short-Term Strategic Income ETF	5.35%	5.40%	5.48%	1.55%
MSTY YieldMax™ MSTR Option Income Strategy ETF	283.56%	294.61%	104.56%	0.00%

Frequently Asked Questions

Can I hold both MSTI and MSTY in my portfolio?

MSTI and MSTY have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTI or MSTY?

MSTY has higher volatility (23.73%) compared to MSTI (0.48%). In terms of maximum drawdown, MSTI dropped -1.48% vs MSTY's -77.40%.

Which ETF is better, MSTI or MSTY?

On 1-year performance, MSTI leads with 3.69% vs -73.21% for MSTY. On fees, MSTI is cheaper at 0.40% per year. On volatility, MSTI has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTI or MSTY?

Over the 1-year period, MSTI has performed better with a 3.69% return vs -73.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTI or MSTY?

MSTI is cheaper with a 0.40% expense ratio, compared with 0.99% for MSTY.

Which ETF pays a higher dividend yield, MSTI or MSTY?

MSTY has the higher dividend yield at 283.56%, compared with 5.35% for MSTI.

What is the main difference between MSTI and MSTY?

MSTI is categorized as Short-Term Bond, while MSTY is Derivative Income. They also come from different issuers: Madison and YieldMax. Their fees differ too: 0.40% for MSTI and 0.99% for MSTY.

Which has better risk-adjusted returns?

MSTI currently has the higher Sharpe Ratio (1.49 vs -1.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.