MSTY vs. HOOY

Last updated Jun 14, 2026

MSTY (YieldMax™ MSTR Option Income Strategy ETF) and HOOY (YieldMax HOOD Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, MSTY returned -62.19% vs 16.41% for HOOY. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

Performance

MSTY vs. HOOY - Performance Comparison

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

Returns By Period

In the year-to-date period, MSTY achieves a -16.01% return, which is significantly lower than HOOY's -13.15% return.

MSTY

• 1D: 2.79%
• 1M: -27.19%
• YTD: -16.01%
• 6M: -25.33%
• 1Y: -62.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOY

• 1D: 0.37%
• 1M: 14.61%
• YTD: -13.15%
• 6M: -15.59%
• 1Y: 16.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTY vs. HOOY - Yearly Performance Comparison

	2026 (YTD)	2025
MSTY YieldMax™ MSTR Option Income Strategy ETF	-16.01%	-55.17%
HOOY YieldMax HOOD Option Income Strategy ETF	-13.15%	67.41%

Correlation

The correlation between MSTY and HOOY is 0.61, 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	0.61
Correlation (All Time) Calculated using the full available price history since May 8, 2025	0.60

The correlation between MSTY and HOOY has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

MSTY vs. HOOY — Risk / Return Rank

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

MSTY

MSTY Risk / Return Rank: 2
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 1
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 2
MSTY Martin Ratio Rank: 3

HOOY

HOOY Risk / Return Rank: 14
HOOY Sharpe Ratio Rank: 14
HOOY Sortino Ratio Rank: 16
HOOY Omega Ratio Rank: 17
HOOY Calmar Ratio Rank: 13
HOOY Martin Ratio Rank: 12

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.

MSTY vs. HOOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax™ MSTR Option Income Strategy ETF (MSTY) and YieldMax HOOD Option Income Strategy ETF (HOOY). 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.

	MSTY	HOOY	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	0.26	-1.27
Sortino ratio: Return per unit of downside risk	-1.72	0.75	-2.47
Omega ratio: Gain probability vs. loss probability	0.81	1.09	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.86	0.28	-1.14
Martin ratio: Return relative to average drawdown	-1.29	0.50	-1.78

MSTY vs. HOOY - Sharpe Ratio Comparison

The current MSTY Sharpe Ratio is -1.01, which is lower than the HOOY Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of MSTY and HOOY, 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

MSTY vs. HOOY - Drawdown Comparison

The maximum MSTY drawdown since its inception was -71.79%, which is greater than HOOY's maximum drawdown of -51.54%. Use the drawdown chart below to compare losses from any high point for MSTY and HOOY.

Drawdown Indicators

	MSTY	HOOY	Difference
Max Drawdown Largest peak-to-trough decline	-71.79%	-51.54%	-20.25%
Max Drawdown (1Y) Largest decline over 1 year	-71.79%	-51.54%	-20.25%
Current Drawdown Current decline from peak	-66.98%	-35.28%	-31.70%
Average Drawdown Average peak-to-trough decline	-26.54%	-20.56%	-5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.20%	28.94%	+19.26%

Volatility

MSTY vs. HOOY - Volatility Comparison

YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a higher volatility of 19.17% compared to YieldMax HOOD Option Income Strategy ETF (HOOY) at 17.45%. This indicates that MSTY's price experiences larger fluctuations and is considered to be riskier than HOOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTY	HOOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.17%	17.45%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	49.63%	42.40%	+7.23%
Volatility (1Y) Calculated over the trailing 1-year period	61.33%	55.83%	+5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.88%	54.40%	+17.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.88%	54.40%	+17.48%

MSTY vs. HOOY - Expense Ratio Comparison

Both MSTY and HOOY have an expense ratio of 0.99%.

Dividends

MSTY vs. HOOY - Dividend Comparison

MSTY's dividend yield for the trailing twelve months is around 241.17%, more than HOOY's 155.65% yield.

Position	TTM	2025	2024
HOOY YieldMax HOOD Option Income Strategy ETF	155.65%	82.87%	0.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	241.17%	294.61%	104.56%

Frequently Asked Questions

Can I hold both MSTY and HOOY in my portfolio?

MSTY and HOOY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTY or HOOY?

MSTY has higher volatility (19.17%) compared to HOOY (17.45%). In terms of maximum drawdown, MSTY dropped -71.79% vs HOOY's -51.54%.

Which ETF is better, MSTY or HOOY?

On 1-year performance, HOOY leads with 16.41% vs -62.19% for MSTY. Both ETFs have the same 0.99% expense ratio. On volatility, HOOY has been the lower-risk option at 17.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTY or HOOY?

Over the 1-year period, HOOY has performed better with a 16.41% return vs -62.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTY or HOOY?

MSTY and HOOY have the same expense ratio: 0.99% per year.

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

MSTY has the higher dividend yield at 241.17%, compared with 155.65% for HOOY.

Which has better risk-adjusted returns?

HOOY currently has the higher Sharpe Ratio (0.26 vs -1.01), 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.