TOPW vs. MRNY
TOPW (Roundhill Top WeeklyPay ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds. TOPW is passively managed, while MRNY is actively managed. At a 0.27 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.
Performance
TOPW vs. MRNY - Performance Comparison
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Returns By Period
In the year-to-date period, TOPW achieves a 7.03% return, which is significantly lower than MRNY's 55.67% return.
TOPW
- 1D
- -0.63%
- 1M
- 2.63%
- YTD
- 7.03%
- 6M
- -1.44%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MRNY
- 1D
- 2.69%
- 1M
- 7.98%
- YTD
- 55.67%
- 6M
- 64.78%
- 1Y
- 53.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TOPW vs. MRNY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TOPW Roundhill Top WeeklyPay ETF | 7.03% | -2.47% |
MRNY YieldMax MRNA Option Income Strategy ETF | 55.67% | 10.97% |
Correlation
The correlation between TOPW and MRNY is 0.27, 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 Sep 5, 2025 | 0.27 |
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Return for Risk
TOPW vs. MRNY — Risk / Return Rank
TOPW
MRNY
TOPW vs. MRNY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) and YieldMax MRNA Option Income Strategy ETF (MRNY). 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
| TOPW | MRNY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | -0.48 | +0.70 |
Drawdowns
TOPW vs. MRNY - Drawdown Comparison
The maximum TOPW drawdown since its inception was -29.87%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for TOPW and MRNY.
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Drawdown Indicators
| TOPW | MRNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.87% | -82.15% | +52.28% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.53% | — |
Current DrawdownCurrent decline from peak | -10.58% | -67.23% | +56.65% |
Average DrawdownAverage peak-to-trough decline | -12.86% | -52.64% | +39.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 16.15% | — |
Volatility
TOPW vs. MRNY - Volatility Comparison
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Volatility by Period
| TOPW | MRNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 37.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.30% | 49.38% | -22.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.30% | 50.75% | -23.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.30% | 50.75% | -23.45% |
TOPW vs. MRNY - Expense Ratio Comparison
Both TOPW and MRNY have an expense ratio of 0.99%.
Dividends
TOPW vs. MRNY - Dividend Comparison
TOPW's dividend yield for the trailing twelve months is around 40.58%, less than MRNY's 100.06% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
MRNY YieldMax MRNA Option Income Strategy ETF | 100.06% | 145.98% | 178.49% | 1.75% |
TOPW Roundhill Top WeeklyPay ETF | 40.58% | 21.52% | 0.00% | 0.00% |
Frequently Asked Questions
TOPW and MRNY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TOPW and MRNY have the same expense ratio: 0.99% per year.
MRNY has the higher dividend yield at 100.06%, compared with 40.58% for TOPW.
They also come from different issuers: Roundhill Investments and YieldMax.
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