SMMIX vs. MSTY
SMMIX (Invesco Summit Fund) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both funds - SMMIX is a Large Cap Growth Equities fund managed by Invesco, while MSTY is a Derivative Income fund actively managed by YieldMax. Over the past year, SMMIX returned 22.54% vs -66.58% for MSTY. At a 0.48 correlation, their price movements are largely independent. SMMIX charges 0.84%/yr vs 0.99%/yr for MSTY.
Performance
SMMIX vs. MSTY - Performance Comparison
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Returns By Period
In the year-to-date period, SMMIX achieves a 9.39% return, which is significantly higher than MSTY's -27.80% return.
SMMIX
- 1D
- -0.03%
- 1M
- 3.52%
- YTD
- 9.39%
- 6M
- 7.16%
- 1Y
- 22.54%
- 3Y*
- 21.50%
- 5Y*
- 7.95%
- 10Y*
- 16.18%
MSTY
- 1D
- -4.55%
- 1M
- -31.74%
- YTD
- -27.80%
- 6M
- -29.80%
- 1Y
- -66.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMMIX vs. MSTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMMIX Invesco Summit Fund | 9.39% | 11.08% | 24.77% |
MSTY YieldMax™ MSTR Option Income Strategy ETF | -27.80% | -42.71% | 212.16% |
Correlation
The correlation between SMMIX and MSTY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024 | 0.48 |
The correlation between SMMIX and MSTY has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.
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Return for Risk
SMMIX vs. MSTY — Risk / Return Rank
SMMIX
MSTY
SMMIX vs. MSTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Summit Fund (SMMIX) 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.
| SMMIX | MSTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.20 | ||
| Sortino ratioReturn per unit of downside risk | +3.54 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.79 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | -0.93 | +2.14 |
| Martin ratioReturn relative to average drawdown | 3.53 | -1.35 | +4.88 |
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Drawdowns
SMMIX vs. MSTY - Drawdown Comparison
The maximum SMMIX drawdown since its inception was -69.64%, roughly equal to the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for SMMIX and MSTY.
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Drawdown Indicators
| SMMIX | MSTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.64% | -71.79% | +2.15% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -71.79% | +51.84% |
Max Drawdown (3Y)Largest decline over 3 years | -28.51% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.62% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -71.62% | +71.59% |
Average DrawdownAverage peak-to-trough decline | -19.24% | -26.97% | +7.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.80% | 49.36% | -42.56% |
Volatility
SMMIX vs. MSTY - Volatility Comparison
The current volatility for Invesco Summit Fund (SMMIX) is 8.60%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 19.32%. This indicates that SMMIX 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.
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Volatility by Period
| SMMIX | MSTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.60% | 19.32% | -10.72% |
Volatility (6M)Calculated over the trailing 6-month period | 16.98% | 49.66% | -32.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.56% | 62.02% | -40.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.28% | 71.82% | -47.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.03% | 71.82% | -48.79% |
SMMIX vs. MSTY - Expense Ratio Comparison
SMMIX has a 0.84% expense ratio, which is lower than MSTY's 0.99% expense ratio.
Dividends
SMMIX vs. MSTY - Dividend Comparison
SMMIX's dividend yield for the trailing twelve months is around 13.51%, less than MSTY's 286.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSTY YieldMax™ MSTR Option Income Strategy ETF | 286.06% | 294.61% | 104.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMMIX Invesco Summit Fund | 13.51% | 14.78% | 2.01% | 0.00% | 10.02% | 20.10% | 6.46% | 8.44% | 12.16% | 3.77% | 6.28% | 6.88% |
Frequently Asked Questions
SMMIX and MSTY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTY has higher volatility (19.32%) compared to SMMIX (8.60%). In terms of maximum drawdown, SMMIX dropped -69.64% vs MSTY's -71.79%.
SMMIX currently has the higher Sharpe Ratio (1.12 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.
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