MSTY vs. PFFA

Last updated Jun 20, 2026

MSTY (YieldMax™ MSTR Option Income Strategy ETF) and PFFA (Virtus InfraCap U.S. Preferred Stock ETF) are both exchange-traded funds - MSTY is a Derivative Income fund actively managed by YieldMax, while PFFA is a Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners. Both are actively managed. Over the past year, MSTY returned -64.25% vs 12.59% for PFFA. At a 0.28 correlation, their price movements are largely independent. MSTY charges 0.99%/yr vs 1.47%/yr for PFFA.

Performance

MSTY vs. PFFA - Performance Comparison

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

Returns By Period

In the year-to-date period, MSTY achieves a -22.84% return, which is significantly lower than PFFA's 3.08% return.

MSTY

• 1D: -3.45%
• 1M: -29.31%
• YTD: -22.84%
• 6M: -27.46%
• 1Y: -64.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFFA

• 1D: 0.19%
• 1M: -0.14%
• YTD: 3.08%
• 6M: 2.32%
• 1Y: 12.59%
• 3Y*: 14.42%
• 5Y*: 6.42%
• 10Y*: —

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

MSTY vs. PFFA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	-22.84%	-42.71%	212.16%
PFFA Virtus InfraCap U.S. Preferred Stock ETF	3.08%	8.22%	14.03%

Correlation

The correlation between MSTY and PFFA is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.28

The correlation between MSTY and PFFA shifts across timeframes, from 0.28 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MSTY vs. PFFA — Risk / Return Rank

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

MSTY

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

PFFA

PFFA Risk / Return Rank: 49
PFFA Sharpe Ratio Rank: 54
PFFA Sortino Ratio Rank: 55
PFFA Omega Ratio Rank: 55
PFFA Calmar Ratio Rank: 41
PFFA Martin Ratio Rank: 42

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. PFFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax™ MSTR Option Income Strategy ETF (MSTY) and Virtus InfraCap U.S. Preferred Stock ETF (PFFA). 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	PFFA	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	1.77	-2.81
Sortino ratio: Return per unit of downside risk	-1.83	2.53	-4.36
Omega ratio: Gain probability vs. loss probability	0.80	1.33	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.90	1.95	-2.85
Martin ratio: Return relative to average drawdown	-1.31	6.47	-7.79

MSTY vs. PFFA - Sharpe Ratio Comparison

The current MSTY Sharpe Ratio is -1.04, which is lower than the PFFA Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of MSTY and PFFA, 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. PFFA - Drawdown Comparison

The maximum MSTY drawdown since its inception was -71.79%, roughly equal to the maximum PFFA drawdown of -70.52%. Use the drawdown chart below to compare losses from any high point for MSTY and PFFA.

Drawdown Indicators

	MSTY	PFFA	Difference
Max Drawdown Largest peak-to-trough decline	-71.79%	-70.52%	-1.27%
Max Drawdown (1Y) Largest decline over 1 year	-71.79%	-6.49%	-65.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.70%	—
Current Drawdown Current decline from peak	-69.67%	-1.50%	-68.17%
Average Drawdown Average peak-to-trough decline	-26.82%	-6.62%	-20.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.95%	1.95%	+47.00%

Volatility

MSTY vs. PFFA - Volatility Comparison

YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a higher volatility of 19.32% compared to Virtus InfraCap U.S. Preferred Stock ETF (PFFA) at 2.17%. This indicates that MSTY's price experiences larger fluctuations and is considered to be riskier than PFFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTY	PFFA	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.32%	2.17%	+17.15%
Volatility (6M) Calculated over the trailing 6-month period	49.58%	5.89%	+43.69%
Volatility (1Y) Calculated over the trailing 1-year period	61.87%	7.13%	+54.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.86%	11.53%	+60.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.86%	31.76%	+40.10%

MSTY vs. PFFA - Expense Ratio Comparison

MSTY has a 0.99% expense ratio, which is lower than PFFA's 1.47% expense ratio.

Dividends

MSTY vs. PFFA - Dividend Comparison

MSTY's dividend yield for the trailing twelve months is around 267.66%, more than PFFA's 9.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MSTY YieldMax™ MSTR Option Income Strategy ETF	267.66%	294.61%	104.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFFA Virtus InfraCap U.S. Preferred Stock ETF	9.62%	9.47%	9.18%	9.56%	10.75%	7.64%	8.54%	10.02%	5.15%

Frequently Asked Questions

Can I hold both MSTY and PFFA in my portfolio?

MSTY and PFFA have a correlation of 0.40, 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 PFFA?

MSTY has higher volatility (19.32%) compared to PFFA (2.17%). In terms of maximum drawdown, MSTY dropped -71.79% vs PFFA's -70.52%.

Which ETF is better, MSTY or PFFA?

On 1-year performance, PFFA leads with 12.59% vs -64.25% for MSTY. On fees, MSTY is cheaper at 0.99% per year. On volatility, PFFA has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTY or PFFA?

Over the 1-year period, PFFA has performed better with a 12.59% return vs -64.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTY or PFFA?

MSTY is cheaper with a 0.99% expense ratio, compared with 1.47% for PFFA.

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

MSTY has the higher dividend yield at 267.66%, compared with 9.62% for PFFA.

What is the main difference between MSTY and PFFA?

MSTY is categorized as Derivative Income, while PFFA is Preferred Stock/Convertible Bonds. They also come from different issuers: YieldMax and Virtus Investment Partners. Their fees differ too: 0.99% for MSTY and 1.47% for PFFA.

Which has better risk-adjusted returns?

PFFA currently has the higher Sharpe Ratio (1.77 vs -1.04), 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.