MSTY vs. QYLD

Last updated Aug 4, 2026

MSTY (YieldMax™ MSTR Option Income Strategy ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - MSTY is a Derivative Income fund actively managed by YieldMax, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. MSTY is actively managed, while QYLD is passively managed. Over the past year, MSTY returned -68.04% vs 21.85% for QYLD. Their 0.42 correlation means their historical movements had little consistent relationship. MSTY charges 0.99%/yr vs 0.60%/yr for QYLD.

Performance

MSTY vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax™ MSTR Option Income Strategy ETF (MSTY) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTY achieves a -32.53% return, which is significantly lower than QYLD's 8.73% return.

MSTY

• 1D: 1.13%
• 1M: -1.52%
• 6M: -27.05%
• YTD: -32.53%
• 1Y: -68.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.99%

QYLD

• 1D: 0.99%
• 1M: 0.00%
• 6M: 6.38%
• YTD: 8.73%
• 1Y: 21.85%
• 3Y*: 13.13%
• 5Y*: 7.94%
• 10Y*: 9.65%
• ALL TIME*: 8.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSTY YieldMax™ MSTR Option Income Strategy ETF	$12.83M	$13.14M	$28.03M
QYLD Global X NASDAQ 100 Covered Call ETF	$81.92M	$78.72M	$98.91M

MSTY vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	-32.53%	-42.71%	212.16%
QYLD Global X NASDAQ 100 Covered Call ETF	8.73%	9.28%	15.84%

Correlation

The correlation between MSTY and QYLD is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.42

Return for Risk

MSTY vs. QYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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

QYLD

QYLD Risk / Return Rank: 87
QYLD Sharpe Ratio Rank: 83
QYLD Sortino Ratio Rank: 83
QYLD Omega Ratio Rank: 88
QYLD Calmar Ratio Rank: 89
QYLD Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSTY vs. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax™ MSTR Option Income Strategy ETF (MSTY) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	1.95	-3.01
Sortino ratio: Return per unit of downside risk	-1.96	2.78	-4.74
Omega ratio: Gain probability vs. loss probability	0.79	1.40	-0.61
Calmar ratio: Return relative to maximum drawdown	-0.91	3.80	-4.71
Martin ratio: Return relative to average drawdown	-1.34	17.57	-18.90

MSTY vs. QYLD - Sharpe Ratio Comparison

The current MSTY Sharpe Ratio is -1.05, which is lower than the QYLD Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of MSTY and QYLD, 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. QYLD - Drawdown Comparison

The maximum MSTY drawdown since its inception was -77.40%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for MSTY and QYLD.

Drawdown Indicators

	MSTY	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-77.40%	-24.75%	-52.65%
Max Drawdown (1Y) Largest decline over 1 year	-74.91%	-5.78%	-69.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.75%	—
Current Drawdown Current decline from peak	-73.47%	-2.00%	-71.47%
Average Drawdown Average peak-to-trough decline	-29.12%	-3.81%	-25.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.95%	1.25%	+49.70%

Volatility

MSTY vs. QYLD - Volatility Comparison

YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a higher volatility of 13.25% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 5.17%. This indicates that MSTY's price experiences larger fluctuations and is considered to be riskier than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTY	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.25%	5.17%	+8.08%
Volatility (6M) Calculated over the trailing 6-month period	52.14%	10.07%	+42.07%
Volatility (1Y) Calculated over the trailing 1-year period	64.93%	11.26%	+53.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.85%	15.05%	+56.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.85%	15.64%	+56.21%

MSTY vs. QYLD - Expense Ratio Comparison

MSTY has a 0.99% expense ratio, which is higher than QYLD's 0.60% expense ratio.

Dividends

MSTY vs. QYLD - Dividend Comparison

MSTY's dividend yield for the trailing twelve months is around 248.73%, more than QYLD's 11.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSTY YieldMax™ MSTR Option Income Strategy ETF	248.73%	294.61%	104.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QYLD Global X NASDAQ 100 Covered Call ETF	11.78%	11.55%	12.50%	11.78%	13.75%	12.85%	11.16%	9.84%	12.44%	7.69%	9.15%	9.42%

Frequently Asked Questions

Can I hold both MSTY and QYLD in my portfolio?

MSTY and QYLD have a correlation of 0.44, 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 QYLD?

MSTY has higher volatility (13.25%) compared to QYLD (5.17%). In terms of maximum drawdown, MSTY dropped -77.40% vs QYLD's -24.75%.

Which ETF is better, MSTY or QYLD?

On 1-year performance, QYLD leads with 21.85% vs -68.04% for MSTY. On fees, QYLD is cheaper at 0.60% per year. On volatility, QYLD has been the lower-risk option at 5.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTY or QYLD?

Over the 1-year period, QYLD has performed better with a 21.85% return vs -68.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTY or QYLD?

QYLD is cheaper with a 0.60% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 248.73%, compared with 11.78% for QYLD.

What is the main difference between MSTY and QYLD?

MSTY is categorized as Derivative Income, while QYLD is Nasdaq-100. They also come from different issuers: YieldMax and Global X. Their fees differ too: 0.99% for MSTY and 0.60% for QYLD.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (1.95 vs -1.05), 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.