SDTY vs. MSTY

Last updated Aug 4, 2026

SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, SDTY returned 21.18% vs -68.04% for MSTY. Their 0.46 correlation means their historical movements had little consistent relationship. SDTY charges 1.01%/yr vs 0.99%/yr for MSTY.

Performance

SDTY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDTY achieves a 10.44% return, which is significantly higher than MSTY's -32.53% return.

SDTY

• 1D: 1.26%
• 1M: 2.69%
• 6M: 8.01%
• YTD: 10.44%
• 1Y: 21.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.76%

MSTY

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

*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
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	$537.49K	$460.25K	$563.86K

SDTY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	10.44%	9.67%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-32.53%	-48.64%

Correlation

The correlation between SDTY and MSTY is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.46

Return for Risk

SDTY vs. MSTY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SDTY

SDTY Risk / Return Rank: 75
SDTY Sharpe Ratio Rank: 75
SDTY Sortino Ratio Rank: 74
SDTY Omega Ratio Rank: 75
SDTY Calmar Ratio Rank: 73
SDTY Martin Ratio Rank: 79

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

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.

SDTY vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). 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.

	SDTY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	1.79	-1.05	+2.84
Sortino ratio: Return per unit of downside risk	2.47	-1.96	+4.43
Omega ratio: Gain probability vs. loss probability	1.32	0.79	+0.53
Calmar ratio: Return relative to maximum drawdown	2.65	-0.91	+3.56
Martin ratio: Return relative to average drawdown	10.57	-1.34	+11.91

SDTY vs. MSTY - Sharpe Ratio Comparison

The current SDTY Sharpe Ratio is 1.79, which is higher than the MSTY Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of SDTY and MSTY, 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

SDTY vs. MSTY - Drawdown Comparison

The maximum SDTY drawdown since its inception was -18.63%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for SDTY and MSTY.

Drawdown Indicators

	SDTY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-18.63%	-77.40%	+58.77%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-74.91%	+66.89%
Current Drawdown Current decline from peak	0.00%	-73.47%	+73.47%
Average Drawdown Average peak-to-trough decline	-2.84%	-29.12%	+26.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	50.95%	-48.94%

Volatility

SDTY vs. MSTY - Volatility Comparison

The current volatility for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) is 3.66%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 13.25%. This indicates that SDTY experiences smaller price fluctuations and is considered to be less risky than MSTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDTY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	13.25%	-9.59%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	52.14%	-42.76%
Volatility (1Y) Calculated over the trailing 1-year period	11.92%	64.93%	-53.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	71.85%	-55.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	71.85%	-55.37%

SDTY vs. MSTY - Expense Ratio Comparison

SDTY has a 1.01% expense ratio, which is higher than MSTY's 0.99% expense ratio.

Dividends

SDTY vs. MSTY - Dividend Comparison

SDTY's dividend yield for the trailing twelve months is around 26.85%, less than MSTY's 248.73% yield.

Position	TTM	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	248.73%	294.61%	104.56%
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	26.85%	22.00%	0.00%

Frequently Asked Questions

Can I hold both SDTY and MSTY in my portfolio?

SDTY and MSTY have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDTY or MSTY?

MSTY has higher volatility (13.25%) compared to SDTY (3.66%). In terms of maximum drawdown, SDTY dropped -18.63% vs MSTY's -77.40%.

Which ETF is better, SDTY or MSTY?

On 1-year performance, SDTY leads with 21.18% vs -68.04% for MSTY. On fees, MSTY is cheaper at 0.99% per year. On volatility, SDTY has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDTY or MSTY?

Over the 1-year period, SDTY has performed better with a 21.18% return vs -68.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDTY or MSTY?

MSTY is cheaper with a 0.99% expense ratio, compared with 1.01% for SDTY.

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

MSTY has the higher dividend yield at 248.73%, compared with 26.85% for SDTY.

What is the main difference between SDTY and MSTY?

Their fees differ too: 1.01% for SDTY and 0.99% for MSTY.

Which has better risk-adjusted returns?

SDTY currently has the higher Sharpe Ratio (1.79 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.