SMCY vs. MSTY

Last updated Jul 14, 2026

SMCY (YieldMax SMCI Option Income 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, SMCY returned -43.14% vs -73.76% for MSTY. At a 0.35 correlation, their price movements are largely independent. SMCY charges 1.01%/yr vs 0.99%/yr for MSTY.

Performance

SMCY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax SMCI Option Income Strategy ETF (SMCY) 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, SMCY achieves a -10.35% return, which is significantly higher than MSTY's -35.55% return.

SMCY

• 1D: -2.07%
• 1M: -5.16%
• 6M: -13.46%
• YTD: -10.35%
• 1Y: -43.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -2.03%
• 1M: -23.27%
• 6M: -39.01%
• YTD: -35.55%
• 1Y: -73.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMCY YieldMax SMCI Option Income Strategy ETF	-10.35%	-15.41%	-33.36%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-35.55%	-42.71%	75.86%

Correlation

The correlation between SMCY and MSTY is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	0.35

Return for Risk

SMCY vs. MSTY — Risk / Return Rank

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

SMCY

SMCY Risk / Return Rank: 4
SMCY Sharpe Ratio Rank: 4
SMCY Sortino Ratio Rank: 5
SMCY Omega Ratio Rank: 5
SMCY Calmar Ratio Rank: 3
SMCY Martin Ratio Rank: 4

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 0
MSTY Omega Ratio Rank: 0
MSTY Calmar Ratio Rank: 1
MSTY Martin Ratio Rank: 1

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.

SMCY vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax SMCI Option Income Strategy ETF (SMCY) 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.

	SMCY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-1.15	+0.55
Sortino ratio: Return per unit of downside risk	-0.49	-2.35	+1.86
Omega ratio: Gain probability vs. loss probability	0.93	0.75	+0.18
Calmar ratio: Return relative to maximum drawdown	-0.72	-0.95	+0.24
Martin ratio: Return relative to average drawdown	-1.14	-1.41	+0.28

SMCY vs. MSTY - Sharpe Ratio Comparison

The current SMCY Sharpe Ratio is -0.60, which is higher than the MSTY Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of SMCY 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

SMCY vs. MSTY - Drawdown Comparison

The maximum SMCY drawdown since its inception was -64.75%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for SMCY and MSTY.

Drawdown Indicators

	SMCY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-64.75%	-77.40%	+12.65%
Max Drawdown (1Y) Largest decline over 1 year	-60.43%	-77.40%	+16.97%
Current Drawdown Current decline from peak	-56.78%	-74.66%	+17.88%
Average Drawdown Average peak-to-trough decline	-37.81%	-28.01%	-9.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.01%	52.19%	-14.18%

Volatility

SMCY vs. MSTY - Volatility Comparison

YieldMax SMCI Option Income Strategy ETF (SMCY) and YieldMax™ MSTR Option Income Strategy ETF (MSTY) have volatilities of 22.87% and 23.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.87%	23.76%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	68.08%	53.06%	+15.02%
Volatility (1Y) Calculated over the trailing 1-year period	72.73%	64.61%	+8.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.10%	72.32%	+7.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.10%	72.32%	+7.78%

SMCY vs. MSTY - Expense Ratio Comparison

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

Dividends

SMCY vs. MSTY - Dividend Comparison

SMCY's dividend yield for the trailing twelve months is around 206.39%, less than MSTY's 289.43% yield.

Position	TTM	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	289.43%	294.61%	104.56%
SMCY YieldMax SMCI Option Income Strategy ETF	206.39%	231.43%	38.43%

Frequently Asked Questions

Can I hold both SMCY and MSTY in my portfolio?

SMCY and MSTY have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMCY or MSTY?

MSTY has higher volatility (23.76%) compared to SMCY (22.87%). In terms of maximum drawdown, SMCY dropped -64.75% vs MSTY's -77.40%.

Which ETF is better, SMCY or MSTY?

On 1-year performance, SMCY leads with -43.14% vs -73.76% for MSTY. On fees, MSTY is cheaper at 0.99% per year. On volatility, SMCY has been the lower-risk option at 22.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMCY or MSTY?

Over the 1-year period, SMCY has performed better with a -43.14% return vs -73.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMCY or MSTY?

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

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

MSTY has the higher dividend yield at 289.43%, compared with 206.39% for SMCY.

What is the main difference between SMCY and MSTY?

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

Which has better risk-adjusted returns?

SMCY currently has the higher Sharpe Ratio (-0.60 vs -1.15), 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.