PLDR vs. MRNY

Last updated Jun 24, 2026

PLDR (Putnam Sustainable Leaders ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both exchange-traded funds - PLDR is a Sustainable fund actively managed by Power Corporation of Canada, while MRNY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, PLDR returned 15.57% vs 74.19% for MRNY. At a 0.32 correlation, their price movements are largely independent. PLDR charges 0.59%/yr vs 0.99%/yr for MRNY.

Performance

PLDR vs. MRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Sustainable Leaders ETF (PLDR) and YieldMax MRNA Option Income Strategy ETF (MRNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLDR achieves a 1.69% return, which is significantly lower than MRNY's 75.79% return.

PLDR

• 1D: -0.32%
• 1M: -1.54%
• YTD: 1.69%
• 6M: 0.88%
• 1Y: 15.57%
• 3Y*: 17.17%
• 5Y*: 8.99%
• 10Y*: —

MRNY

• 1D: 1.61%
• 1M: 20.79%
• YTD: 75.79%
• 6M: 62.11%
• 1Y: 74.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLDR vs. MRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PLDR Putnam Sustainable Leaders ETF	1.69%	12.03%	23.47%	15.99%
MRNY YieldMax MRNA Option Income Strategy ETF	75.79%	-35.72%	-59.32%	18.27%

Correlation

The correlation between PLDR and MRNY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Oct 24, 2023	0.32

Return for Risk

PLDR vs. MRNY — Risk / Return Rank

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

PLDR

PLDR Risk / Return Rank: 34
PLDR Sharpe Ratio Rank: 37
PLDR Sortino Ratio Rank: 36
PLDR Omega Ratio Rank: 36
PLDR Calmar Ratio Rank: 27
PLDR Martin Ratio Rank: 33

MRNY

MRNY Risk / Return Rank: 43
MRNY Sharpe Ratio Rank: 43
MRNY Sortino Ratio Rank: 46
MRNY Omega Ratio Rank: 42
MRNY Calmar Ratio Rank: 50
MRNY Martin Ratio Rank: 32

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.

PLDR vs. MRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Sustainable Leaders ETF (PLDR) 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.

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.

	PLDR	MRNY	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.46	-0.21
Sortino ratio: Return per unit of downside risk	1.79	2.21	-0.43
Omega ratio: Gain probability vs. loss probability	1.23	1.26	-0.04
Calmar ratio: Return relative to maximum drawdown	1.23	2.37	-1.14
Martin ratio: Return relative to average drawdown	4.62	4.58	+0.04

PLDR vs. MRNY - Sharpe Ratio Comparison

The current PLDR Sharpe Ratio is 1.25, which is comparable to the MRNY Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of PLDR and MRNY, 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

PLDR vs. MRNY - Drawdown Comparison

The maximum PLDR drawdown since its inception was -29.58%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for PLDR and MRNY.

Drawdown Indicators

	PLDR	MRNY	Difference
Max Drawdown Largest peak-to-trough decline	-29.58%	-82.15%	+52.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.81%	-31.53%	+18.72%
Max Drawdown (3Y) Largest decline over 3 years	-23.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.58%	—	—
Current Drawdown Current decline from peak	-3.21%	-62.99%	+59.78%
Average Drawdown Average peak-to-trough decline	-8.57%	-52.86%	+44.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	16.26%	-12.86%

Volatility

PLDR vs. MRNY - Volatility Comparison

The current volatility for Putnam Sustainable Leaders ETF (PLDR) is 3.62%, while YieldMax MRNA Option Income Strategy ETF (MRNY) has a volatility of 15.74%. This indicates that PLDR experiences smaller price fluctuations and is considered to be less risky than MRNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLDR	MRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	15.74%	-12.12%
Volatility (6M) Calculated over the trailing 6-month period	9.83%	39.32%	-29.49%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	51.06%	-38.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	51.05%	-33.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	51.05%	-34.01%

PLDR vs. MRNY - Expense Ratio Comparison

PLDR has a 0.59% expense ratio, which is lower than MRNY's 0.99% expense ratio.

Dividends

PLDR vs. MRNY - Dividend Comparison

PLDR's dividend yield for the trailing twelve months is around 0.37%, less than MRNY's 82.61% yield.

Position	TTM	2025	2024	2023	2022	2021
MRNY YieldMax MRNA Option Income Strategy ETF	82.61%	145.98%	178.49%	1.75%	0.00%	0.00%
PLDR Putnam Sustainable Leaders ETF	0.37%	0.37%	0.38%	0.56%	0.63%	0.39%

Frequently Asked Questions

Can I hold both PLDR and MRNY in my portfolio?

PLDR and MRNY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLDR or MRNY?

MRNY has higher volatility (15.74%) compared to PLDR (3.62%). In terms of maximum drawdown, PLDR dropped -29.58% vs MRNY's -82.15%.

Which ETF is better, PLDR or MRNY?

On 1-year performance, MRNY leads with 74.19% vs 15.57% for PLDR. On fees, PLDR is cheaper at 0.59% per year. On volatility, PLDR has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLDR or MRNY?

Over the 1-year period, MRNY has performed better with a 74.19% return vs 15.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLDR or MRNY?

PLDR is cheaper with a 0.59% expense ratio, compared with 0.99% for MRNY.

Which ETF pays a higher dividend yield, PLDR or MRNY?

MRNY has the higher dividend yield at 82.61%, compared with 0.37% for PLDR.

What is the main difference between PLDR and MRNY?

PLDR is categorized as Sustainable, while MRNY is Derivative Income. They also come from different issuers: Power Corporation of Canada and YieldMax. Their fees differ too: 0.59% for PLDR and 0.99% for MRNY.

Which has better risk-adjusted returns?

MRNY currently has the higher Sharpe Ratio (1.46 vs 1.25), 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.