MSTY vs. SBIT

Last updated Jul 14, 2026

MSTY (YieldMax™ MSTR Option Income Strategy ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - MSTY is a Derivative Income fund actively managed by YieldMax, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). MSTY is actively managed, while SBIT is passively managed. Over the past year, MSTY returned -73.76% vs 124.12% for SBIT. At a correlation of -0.77, they often move in opposite directions. MSTY charges 0.99%/yr vs 0.95%/yr for SBIT.

Performance

MSTY vs. SBIT - Performance Comparison

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

Returns By Period

In the year-to-date period, MSTY achieves a -35.55% return, which is significantly lower than SBIT's 44.00% return.

MSTY

• 1D: -2.03%
• 1M: -23.27%
• 6M: -39.01%
• YTD: -35.55%
• 1Y: -73.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTY vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	-35.55%	-42.71%	50.65%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-73.74%

Correlation

The correlation between MSTY and SBIT is -0.84, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.84
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.77

The correlation between MSTY and SBIT has been stable across timeframes, ranging from -0.84 to -0.77 - a consistent structural relationship.

Return for Risk

MSTY vs. SBIT — 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: 0
MSTY Omega Ratio Rank: 0
MSTY Calmar Ratio Rank: 1
MSTY Martin Ratio Rank: 1

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax™ MSTR Option Income Strategy ETF (MSTY) and Proshares Ultrashort Bitcoin ETF (SBIT). 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	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-1.15	1.41	-2.56
Sortino ratio: Return per unit of downside risk	-2.35	2.05	-4.40
Omega ratio: Gain probability vs. loss probability	0.75	1.25	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.95	2.60	-3.56
Martin ratio: Return relative to average drawdown	-1.41	5.92	-7.34

MSTY vs. SBIT - Sharpe Ratio Comparison

The current MSTY Sharpe Ratio is -1.15, which is lower than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of MSTY and SBIT, 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. SBIT - Drawdown Comparison

The maximum MSTY drawdown since its inception was -77.40%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for MSTY and SBIT.

Drawdown Indicators

	MSTY	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-77.40%	-91.35%	+13.95%
Max Drawdown (1Y) Largest decline over 1 year	-77.40%	-47.94%	-29.46%
Current Drawdown Current decline from peak	-74.66%	-77.15%	+2.49%
Average Drawdown Average peak-to-trough decline	-28.01%	-68.83%	+40.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.19%	21.04%	+31.15%

Volatility

MSTY vs. SBIT - Volatility Comparison

YieldMax™ MSTR Option Income Strategy ETF (MSTY) and Proshares Ultrashort Bitcoin ETF (SBIT) have volatilities of 23.76% and 22.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTY	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.76%	22.98%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	53.06%	68.89%	-15.83%
Volatility (1Y) Calculated over the trailing 1-year period	64.61%	88.51%	-23.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.32%	96.89%	-24.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.32%	96.89%	-24.57%

MSTY vs. SBIT - Expense Ratio Comparison

MSTY has a 0.99% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

MSTY vs. SBIT - Dividend Comparison

MSTY's dividend yield for the trailing twelve months is around 289.43%, more than SBIT's 3.97% yield.

Position	TTM	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	289.43%	294.61%	104.56%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both MSTY and SBIT in my portfolio?

MSTY and SBIT have a correlation of -0.84, 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 SBIT?

MSTY has higher volatility (23.76%) compared to SBIT (22.98%). In terms of maximum drawdown, MSTY dropped -77.40% vs SBIT's -91.35%.

Which ETF is better, MSTY or SBIT?

On 1-year performance, SBIT leads with 124.12% vs -73.76% for MSTY. On fees, SBIT is cheaper at 0.95% per year. On volatility, SBIT has been the lower-risk option at 22.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTY or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs -73.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTY or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 289.43%, compared with 3.97% for SBIT.

What is the main difference between MSTY and SBIT?

MSTY is categorized as Derivative Income, while SBIT is Cryptocurrency. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 0.99% for MSTY and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.41 vs -1.15), 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.