PAYH vs. MRNY
PAYH (TrueShares S&P Autocallable High Income ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. At a 0.09 correlation, their price movements are largely independent. PAYH charges 0.74%/yr vs 0.99%/yr for MRNY.
Performance
PAYH vs. MRNY - Performance Comparison
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Returns By Period
In the year-to-date period, PAYH achieves a 8.63% return, which is significantly lower than MRNY's 55.67% return.
PAYH
- 1D
- -0.66%
- 1M
- 0.43%
- YTD
- 8.63%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MRNY
- 1D
- 2.69%
- 1M
- 7.98%
- YTD
- 55.67%
- 6M
- 64.78%
- 1Y
- 53.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAYH vs. MRNY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAYH TrueShares S&P Autocallable High Income ETF | 8.63% | -0.58% |
MRNY YieldMax MRNA Option Income Strategy ETF | 55.67% | -2.84% |
Correlation
The correlation between PAYH and MRNY is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 31, 2025 | 0.09 |
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Return for Risk
PAYH vs. MRNY — Risk / Return Rank
PAYH
MRNY
PAYH vs. MRNY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares S&P Autocallable High Income ETF (PAYH) and YieldMax MRNA Option Income Strategy ETF (MRNY). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| PAYH | MRNY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | -0.48 | +1.32 |
Drawdowns
PAYH vs. MRNY - Drawdown Comparison
The maximum PAYH drawdown since its inception was -16.33%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for PAYH and MRNY.
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Drawdown Indicators
| PAYH | MRNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.33% | -82.15% | +65.82% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.53% | — |
Current DrawdownCurrent decline from peak | -1.04% | -67.23% | +66.19% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -52.64% | +49.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 16.15% | — |
Volatility
PAYH vs. MRNY - Volatility Comparison
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Volatility by Period
| PAYH | MRNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 37.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 23.64% | 49.38% | -25.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.64% | 50.75% | -27.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.64% | 50.75% | -27.11% |
PAYH vs. MRNY - Expense Ratio Comparison
PAYH has a 0.74% expense ratio, which is lower than MRNY's 0.99% expense ratio.
Dividends
PAYH vs. MRNY - Dividend Comparison
PAYH's dividend yield for the trailing twelve months is around 6.46%, less than MRNY's 100.06% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
MRNY YieldMax MRNA Option Income Strategy ETF | 100.06% | 145.98% | 178.49% | 1.75% |
PAYH TrueShares S&P Autocallable High Income ETF | 6.46% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAYH and MRNY have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAYH is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAYH is cheaper with a 0.74% expense ratio, compared with 0.99% for MRNY.
MRNY has the higher dividend yield at 100.06%, compared with 6.46% for PAYH.
They also come from different issuers: TrueShares and YieldMax. Their fees differ too: 0.74% for PAYH and 0.99% for MRNY.
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