SGVT vs. MRNY

Last updated Jun 16, 2026

SGVT (Schwab Government Money Market ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both exchange-traded funds - SGVT is a Money Market fund actively managed by Charles Schwab, while MRNY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, SGVT returned 3.74% vs 53.54% for MRNY. At a 0.01 correlation, their price movements are largely independent. SGVT charges 0.28%/yr vs 0.99%/yr for MRNY.

Performance

SGVT vs. MRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Government Money Market ETF (SGVT) 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, SGVT achieves a 1.51% return, which is significantly lower than MRNY's 56.58% return.

SGVT

• 1D: -0.01%
• 1M: 0.26%
• YTD: 1.51%
• 6M: 1.68%
• 1Y: 3.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MRNY

• 1D: 2.91%
• 1M: 5.64%
• YTD: 56.58%
• 6M: 51.42%
• 1Y: 53.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGVT vs. MRNY - Yearly Performance Comparison

	2026 (YTD)	2025
SGVT Schwab Government Money Market ETF	1.51%	2.22%
MRNY YieldMax MRNA Option Income Strategy ETF	56.58%	-3.89%

Correlation

The correlation between SGVT and MRNY is 0.01, 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 (1Y) Calculated over the trailing 1-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.01

Return for Risk

SGVT vs. MRNY — Risk / Return Rank

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

SGVT

SGVT Risk / Return Rank: 100
SGVT Sharpe Ratio Rank: 100
SGVT Sortino Ratio Rank: 100
SGVT Omega Ratio Rank: 100
SGVT Calmar Ratio Rank: 100
SGVT Martin Ratio Rank: 100

MRNY

MRNY Risk / Return Rank: 34
MRNY Sharpe Ratio Rank: 32
MRNY Sortino Ratio Rank: 38
MRNY Omega Ratio Rank: 34
MRNY Calmar Ratio Rank: 37
MRNY Martin Ratio Rank: 26

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.

SGVT vs. MRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Government Money Market ETF (SGVT) 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.

	SGVT	MRNY	Difference
Sharpe ratio: Return per unit of total volatility	18.33	1.08	+17.25
Sortino ratio: Return per unit of downside risk	100.91	1.81	+99.10
Omega ratio: Gain probability vs. loss probability	36.10	1.21	+34.89
Calmar ratio: Return relative to maximum drawdown	138.97	1.71	+137.27
Martin ratio: Return relative to average drawdown	1,477.41	3.30	+1,474.11

SGVT vs. MRNY - Sharpe Ratio Comparison

The current SGVT Sharpe Ratio is 18.33, which is higher than the MRNY Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of SGVT 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

SGVT vs. MRNY - Drawdown Comparison

The maximum SGVT drawdown since its inception was -0.03%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for SGVT and MRNY.

Drawdown Indicators

	SGVT	MRNY	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-82.15%	+82.12%
Max Drawdown (1Y) Largest decline over 1 year	-0.03%	-31.53%	+31.50%
Current Drawdown Current decline from peak	-0.01%	-67.04%	+67.03%
Average Drawdown Average peak-to-trough decline	-0.00%	-52.78%	+52.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	16.25%	-16.25%

Volatility

SGVT vs. MRNY - Volatility Comparison

The current volatility for Schwab Government Money Market ETF (SGVT) is 0.07%, while YieldMax MRNA Option Income Strategy ETF (MRNY) has a volatility of 12.97%. This indicates that SGVT 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

	SGVT	MRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	12.97%	-12.90%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	37.72%	-37.59%
Volatility (1Y) Calculated over the trailing 1-year period	0.21%	49.94%	-49.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.21%	50.72%	-50.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.21%	50.72%	-50.51%

SGVT vs. MRNY - Expense Ratio Comparison

SGVT has a 0.28% expense ratio, which is lower than MRNY's 0.99% expense ratio.

Dividends

SGVT vs. MRNY - Dividend Comparison

SGVT's dividend yield for the trailing twelve months is around 3.12%, less than MRNY's 102.17% yield.

Position	TTM	2025	2024	2023
MRNY YieldMax MRNA Option Income Strategy ETF	102.17%	145.98%	178.49%	1.75%
SGVT Schwab Government Money Market ETF	3.12%	1.73%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGVT and MRNY in my portfolio?

SGVT and MRNY have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGVT or MRNY?

MRNY has higher volatility (12.97%) compared to SGVT (0.07%). In terms of maximum drawdown, SGVT dropped -0.03% vs MRNY's -82.15%.

Which ETF is better, SGVT or MRNY?

On 1-year performance, MRNY leads with 53.54% vs 3.74% for SGVT. On fees, SGVT is cheaper at 0.28% per year. On volatility, SGVT has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGVT or MRNY?

Over the 1-year period, MRNY has performed better with a 53.54% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGVT or MRNY?

SGVT is cheaper with a 0.28% expense ratio, compared with 0.99% for MRNY.

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

MRNY has the higher dividend yield at 102.17%, compared with 3.12% for SGVT.

What is the main difference between SGVT and MRNY?

SGVT is categorized as Money Market, while MRNY is Derivative Income. They also come from different issuers: Charles Schwab and YieldMax. Their fees differ too: 0.28% for SGVT and 0.99% for MRNY.

Which has better risk-adjusted returns?

SGVT currently has the higher Sharpe Ratio (18.33 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.