SNOY vs. MSTY

Last updated Aug 2, 2026

SNOY (YieldMax SNOW 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, SNOY returned 35.92% vs -68.40% for MSTY. Their 0.33 correlation means their historical movements had little consistent relationship. Both charge a 0.99% expense ratio.

Performance

SNOY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax SNOW Option Income Strategy ETF (SNOY) 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, SNOY achieves a 32.13% return, which is significantly higher than MSTY's -33.29% return.

SNOY

• 1D: -2.06%
• 1M: 12.09%
• 6M: 48.18%
• YTD: 32.13%
• 1Y: 35.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 41.34%

MSTY

• 1D: -2.60%
• 1M: -2.63%
• 6M: -31.98%
• YTD: -33.29%
• 1Y: -68.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.52%

*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	$12.71M	$13.42M	$28.94M
SNOY YieldMax SNOW Option Income Strategy ETF	$2.23M	$1.69M	$1.13M

SNOY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SNOY YieldMax SNOW Option Income Strategy ETF	32.13%	30.66%	21.28%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-33.29%	-42.71%	53.88%

Correlation

The correlation between SNOY and MSTY is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (All Time) Calculated using the full available price history since Jun 11, 2024	0.33

Return for Risk

SNOY vs. MSTY — Risk / Return Rank

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

SNOY

SNOY Risk / Return Rank: 25
SNOY Sharpe Ratio Rank: 22
SNOY Sortino Ratio Rank: 32
SNOY Omega Ratio Rank: 33
SNOY Calmar Ratio Rank: 20
SNOY Martin Ratio Rank: 19

MSTY

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

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.

SNOY vs. MSTY - Risk-Adjusted Trends Comparison

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

	SNOY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	0.45	-1.09	+1.54
Sortino ratio: Return per unit of downside risk	1.19	-2.13	+3.32
Omega ratio: Gain probability vs. loss probability	1.16	0.77	+0.38
Calmar ratio: Return relative to maximum drawdown	0.51	-0.95	+1.46
Martin ratio: Return relative to average drawdown	1.13	-1.40	+2.53

SNOY vs. MSTY - Sharpe Ratio Comparison

The current SNOY Sharpe Ratio is 0.45, which is higher than the MSTY Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of SNOY 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

SNOY vs. MSTY - Drawdown Comparison

The maximum SNOY drawdown since its inception was -50.90%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for SNOY and MSTY.

Drawdown Indicators

	SNOY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-50.90%	-77.40%	+26.50%
Max Drawdown (1Y) Largest decline over 1 year	-50.90%	-74.91%	+24.01%
Current Drawdown Current decline from peak	-2.06%	-73.77%	+71.71%
Average Drawdown Average peak-to-trough decline	-12.16%	-29.05%	+16.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.11%	50.99%	-27.88%

Volatility

SNOY vs. MSTY - Volatility Comparison

The current volatility for YieldMax SNOW Option Income Strategy ETF (SNOY) is 6.86%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 14.46%. This indicates that SNOY 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

	SNOY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	14.46%	-7.60%
Volatility (6M) Calculated over the trailing 6-month period	47.35%	52.28%	-4.93%
Volatility (1Y) Calculated over the trailing 1-year period	58.05%	65.31%	-7.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.80%	71.91%	-21.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.80%	71.91%	-21.11%

SNOY vs. MSTY - Expense Ratio Comparison

Both SNOY and MSTY have an expense ratio of 0.99%.

Dividends

SNOY vs. MSTY - Dividend Comparison

SNOY's dividend yield for the trailing twelve months is around 71.03%, less than MSTY's 251.54% yield.

Position	TTM	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	251.54%	294.61%	104.56%
SNOY YieldMax SNOW Option Income Strategy ETF	71.03%	84.96%	33.32%

Frequently Asked Questions

Can I hold both SNOY and MSTY in my portfolio?

SNOY and MSTY have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNOY or MSTY?

MSTY has higher volatility (14.46%) compared to SNOY (6.86%). In terms of maximum drawdown, SNOY dropped -50.90% vs MSTY's -77.40%.

Which ETF is better, SNOY or MSTY?

On 1-year performance, SNOY leads with 35.92% vs -68.40% for MSTY. Both ETFs have the same 0.99% expense ratio. On volatility, SNOY has been the lower-risk option at 6.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNOY or MSTY?

Over the 1-year period, SNOY has performed better with a 35.92% return vs -68.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNOY or MSTY?

SNOY and MSTY have the same expense ratio: 0.99% per year.

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

MSTY has the higher dividend yield at 251.54%, compared with 71.03% for SNOY.

Which has better risk-adjusted returns?

SNOY currently has the higher Sharpe Ratio (0.45 vs -1.09), 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.