TEST vs. MSTY
TEST (YieldMax TSLA Performance & Distribution Target 25 ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. TEST charges 1.01%/yr vs 0.99%/yr for MSTY.
Performance
TEST vs. MSTY - Performance Comparison
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Returns By Period
In the year-to-date period, TEST achieves a -8.43% return, which is significantly higher than MSTY's -18.53% return.
TEST
- 1D
- -4.27%
- 1M
- -0.51%
- YTD
- -8.43%
- 6M
- -10.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTY
- 1D
- -6.43%
- 1M
- -32.38%
- YTD
- -18.53%
- 6M
- -28.01%
- 1Y
- -61.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TEST vs. MSTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TEST YieldMax TSLA Performance & Distribution Target 25 ETF | -8.43% | 9.05% |
MSTY YieldMax™ MSTR Option Income Strategy ETF | -18.53% | -20.81% |
Correlation
The correlation between TEST and MSTY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.41 |
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Return for Risk
TEST vs. MSTY — Risk / Return Rank
TEST
MSTY
TEST vs. MSTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Performance & Distribution Target 25 ETF (TEST) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| TEST | MSTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -1.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.22 | -0.23 |
Drawdowns
TEST vs. MSTY - Drawdown Comparison
The maximum TEST drawdown since its inception was -23.35%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for TEST and MSTY.
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Drawdown Indicators
| TEST | MSTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.35% | -71.79% | +48.44% |
Max Drawdown (1Y)Largest decline over 1 year | — | -71.79% | — |
Current DrawdownCurrent decline from peak | -14.44% | -67.97% | +53.53% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -26.23% | +15.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 47.25% | — |
Volatility
TEST vs. MSTY - Volatility Comparison
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Volatility by Period
| TEST | MSTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 17.83% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 48.88% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 32.46% | 60.72% | -28.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.46% | 71.94% | -39.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.46% | 71.94% | -39.48% |
TEST vs. MSTY - Expense Ratio Comparison
TEST has a 1.01% expense ratio, which is higher than MSTY's 0.99% expense ratio.
Dividends
TEST vs. MSTY - Dividend Comparison
TEST's dividend yield for the trailing twelve months is around 14.42%, less than MSTY's 244.17% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MSTY YieldMax™ MSTR Option Income Strategy ETF | 244.17% | 294.61% | 104.56% |
TEST YieldMax TSLA Performance & Distribution Target 25 ETF | 14.42% | 2.50% | 0.00% |
Frequently Asked Questions
TEST and MSTY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MSTY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSTY is cheaper with a 0.99% expense ratio, compared with 1.01% for TEST.
MSTY has the higher dividend yield at 244.17%, compared with 14.42% for TEST.
Their fees differ too: 1.01% for TEST and 0.99% for MSTY.
Find the right allocation for TEST and MSTY
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