MSTY vs. SHLD

Last updated Jun 24, 2026

MSTY (YieldMax™ MSTR Option Income Strategy ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - MSTY is a Derivative Income fund actively managed by YieldMax, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. MSTY is actively managed, while SHLD is passively managed. Over the past year, MSTY returned -66.58% vs 4.03% for SHLD. At a 0.33 correlation, their price movements are largely independent. MSTY charges 0.99%/yr vs 0.50%/yr for SHLD.

Performance

MSTY vs. SHLD - 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 Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTY achieves a -27.80% return, which is significantly lower than SHLD's -6.53% return.

MSTY

• 1D: -4.55%
• 1M: -31.74%
• YTD: -27.80%
• 6M: -29.80%
• 1Y: -66.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -0.05%
• 1M: -7.05%
• YTD: -6.53%
• 6M: -8.73%
• 1Y: 4.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTY vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	-27.80%	-42.71%	212.16%
SHLD Global X Defense Tech ETF	-6.53%	74.16%	23.82%

Correlation

The correlation between MSTY and SHLD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.33

Return for Risk

MSTY vs. SHLD — 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

SHLD

SHLD Risk / Return Rank: 11
SHLD Sharpe Ratio Rank: 11
SHLD Sortino Ratio Rank: 11
SHLD Omega Ratio Rank: 10
SHLD Calmar Ratio Rank: 10
SHLD Martin Ratio Rank: 11

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. SHLD - 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 Defense Tech ETF (SHLD). 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	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	-1.08	0.16	-1.24
Sortino ratio: Return per unit of downside risk	-1.96	0.41	-2.38
Omega ratio: Gain probability vs. loss probability	0.79	1.05	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.93	0.18	-1.11
Martin ratio: Return relative to average drawdown	-1.35	0.46	-1.81

MSTY vs. SHLD - Sharpe Ratio Comparison

The current MSTY Sharpe Ratio is -1.08, which is lower than the SHLD Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of MSTY and SHLD, 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. SHLD - Drawdown Comparison

The maximum MSTY drawdown since its inception was -71.79%, which is greater than SHLD's maximum drawdown of -22.38%. Use the drawdown chart below to compare losses from any high point for MSTY and SHLD.

Drawdown Indicators

	MSTY	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-71.79%	-22.38%	-49.41%
Max Drawdown (1Y) Largest decline over 1 year	-71.79%	-22.38%	-49.41%
Current Drawdown Current decline from peak	-71.62%	-22.38%	-49.24%
Average Drawdown Average peak-to-trough decline	-26.97%	-3.49%	-23.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.36%	8.69%	+40.67%

Volatility

MSTY vs. SHLD - Volatility Comparison

YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a higher volatility of 19.32% compared to Global X Defense Tech ETF (SHLD) at 9.04%. This indicates that MSTY's price experiences larger fluctuations and is considered to be riskier than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTY	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.32%	9.04%	+10.28%
Volatility (6M) Calculated over the trailing 6-month period	49.66%	20.19%	+29.47%
Volatility (1Y) Calculated over the trailing 1-year period	62.02%	24.71%	+37.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.82%	21.33%	+50.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.82%	21.33%	+50.49%

MSTY vs. SHLD - Expense Ratio Comparison

MSTY has a 0.99% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

MSTY vs. SHLD - Dividend Comparison

MSTY's dividend yield for the trailing twelve months is around 286.06%, more than SHLD's 0.59% yield.

Position	TTM	2025	2024	2023
MSTY YieldMax™ MSTR Option Income Strategy ETF	286.06%	294.61%	104.56%	0.00%
SHLD Global X Defense Tech ETF	0.59%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both MSTY and SHLD in my portfolio?

MSTY and SHLD have a correlation of 0.39, 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 SHLD?

MSTY has higher volatility (19.32%) compared to SHLD (9.04%). In terms of maximum drawdown, MSTY dropped -71.79% vs SHLD's -22.38%.

Which ETF is better, MSTY or SHLD?

On 1-year performance, SHLD leads with 4.03% vs -66.58% for MSTY. On fees, SHLD is cheaper at 0.50% per year. On volatility, SHLD has been the lower-risk option at 9.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTY or SHLD?

Over the 1-year period, SHLD has performed better with a 4.03% return vs -66.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTY or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 286.06%, compared with 0.59% for SHLD.

What is the main difference between MSTY and SHLD?

MSTY is categorized as Derivative Income, while SHLD is Aerospace & Defense. They also come from different issuers: YieldMax and Global X. Their fees differ too: 0.99% for MSTY and 0.50% for SHLD.

Which has better risk-adjusted returns?

SHLD currently has the higher Sharpe Ratio (0.16 vs -1.08), 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.