STRF vs. SPYI
STRF (Strategy 10.00% Series A Perpetual Strife Preferred Stock) is a stock, while SPYI (NEOS S&P 500 High Income ETF) is Derivative Income fund actively managed by Neos. Over the past year, STRF returned -2.09% vs 23.19% for SPYI. At a 0.35 correlation, their price movements are largely independent.
Performance
STRF vs. SPYI - Performance Comparison
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Returns By Period
In the year-to-date period, STRF achieves a -3.33% return, which is significantly lower than SPYI's 8.08% return.
STRF
- 1D
- -0.48%
- 1M
- -5.29%
- YTD
- -3.33%
- 6M
- -9.75%
- 1Y
- -2.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYI
- 1D
- 0.33%
- 1M
- 3.47%
- YTD
- 8.08%
- 6M
- 8.61%
- 1Y
- 23.19%
- 3Y*
- 16.57%
- 5Y*
- —
- 10Y*
- —
STRF vs. SPYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
STRF Strategy 10.00% Series A Perpetual Strife Preferred Stock | -3.33% | 16.74% |
SPYI NEOS S&P 500 High Income ETF | 8.08% | 18.09% |
Correlation
The correlation between STRF and SPYI is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | 0.35 |
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Return for Risk
STRF vs. SPYI — Risk / Return Rank
STRF
SPYI
STRF vs. SPYI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy 10.00% Series A Perpetual Strife Preferred Stock (STRF) and NEOS S&P 500 High Income ETF (SPYI). 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.
| STRF | SPYI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.50 | ||
| Sortino ratioReturn per unit of downside risk | -3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.47 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 3.02 | -3.11 |
| Martin ratioReturn relative to average drawdown | -0.16 | 15.73 | -15.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| STRF | SPYI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | 2.42 | -2.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.22 | -0.78 |
Drawdowns
STRF vs. SPYI - Drawdown Comparison
The maximum STRF drawdown since its inception was -24.01%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for STRF and SPYI.
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Drawdown Indicators
| STRF | SPYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.01% | -16.47% | -7.54% |
Max Drawdown (1Y)Largest decline over 1 year | -24.01% | -7.72% | -16.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.47% | — |
Current DrawdownCurrent decline from peak | -19.18% | -0.17% | -19.01% |
Average DrawdownAverage peak-to-trough decline | -10.49% | -1.80% | -8.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.21% | 1.48% | +11.73% |
Volatility
STRF vs. SPYI - Volatility Comparison
Strategy 10.00% Series A Perpetual Strife Preferred Stock (STRF) has a higher volatility of 3.36% compared to NEOS S&P 500 High Income ETF (SPYI) at 1.78%. This indicates that STRF's price experiences larger fluctuations and is considered to be riskier than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STRF | SPYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 1.78% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 14.02% | 7.42% | +6.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.35% | 9.62% | +15.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.43% | 12.91% | +11.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.43% | 12.91% | +11.52% |
Dividends
STRF vs. SPYI - Dividend Comparison
STRF's dividend yield for the trailing twelve months is around 10.64%, less than SPYI's 11.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
SPYI NEOS S&P 500 High Income ETF | 11.60% | 11.70% | 12.04% | 12.01% | 4.10% |
STRF Strategy 10.00% Series A Perpetual Strife Preferred Stock | 10.64% | 7.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
STRF and SPYI have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STRF has higher volatility (3.36%) compared to SPYI (1.78%). In terms of maximum drawdown, STRF dropped -24.01% vs SPYI's -16.47%.
SPYI currently has the higher Sharpe Ratio (2.42 vs -0.08), 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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