TSLY vs. MSTY

Last updated Jun 25, 2026

TSLY (YieldMax TSLA Option Income Strategy ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - TSLY is a Options Trading fund actively managed by YieldMax, while MSTY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, TSLY returned 16.20% vs -70.33% for MSTY. At a 0.39 correlation, their price movements are largely independent. TSLY charges 1.07%/yr vs 0.99%/yr for MSTY.

Performance

TSLY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax TSLA Option Income Strategy ETF (TSLY) 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, TSLY achieves a -10.36% return, which is significantly higher than MSTY's -34.39% return.

TSLY

• 1D: -1.31%
• 1M: -9.35%
• YTD: -10.36%
• 6M: -16.04%
• 1Y: 16.20%
• 3Y*: 7.79%
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -9.12%
• 1M: -37.97%
• YTD: -34.39%
• 6M: -36.51%
• 1Y: -70.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TSLY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLY YieldMax TSLA Option Income Strategy ETF	-10.36%	13.62%	52.60%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-34.39%	-42.71%	212.16%

Correlation

The correlation between TSLY and MSTY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.39

Return for Risk

TSLY vs. MSTY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TSLY

TSLY Risk / Return Rank: 17
TSLY Sharpe Ratio Rank: 16
TSLY Sortino Ratio Rank: 17
TSLY Omega Ratio Rank: 16
TSLY Calmar Ratio Rank: 18
TSLY Martin Ratio Rank: 18

MSTY

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TSLY vs. MSTY - Risk-Adjusted Trends Comparison

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

	TSLY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	0.46	-1.13	+1.58
Sortino ratio: Return per unit of downside risk	0.85	-2.17	+3.02
Omega ratio: Gain probability vs. loss probability	1.10	0.76	+0.34
Calmar ratio: Return relative to maximum drawdown	0.75	-0.95	+1.70
Martin ratio: Return relative to average drawdown	1.79	-1.42	+3.21

TSLY vs. MSTY - Sharpe Ratio Comparison

The current TSLY Sharpe Ratio is 0.46, which is higher than the MSTY Sharpe Ratio of -1.13. The chart below compares the historical Sharpe Ratios of TSLY 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

TSLY vs. MSTY - Drawdown Comparison

The maximum TSLY drawdown since its inception was -49.52%, smaller than the maximum MSTY drawdown of -74.21%. Use the drawdown chart below to compare losses from any high point for TSLY and MSTY.

Drawdown Indicators

	TSLY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-49.52%	-74.21%	+24.69%
Max Drawdown (1Y) Largest decline over 1 year	-21.64%	-74.21%	+52.57%
Max Drawdown (3Y) Largest decline over 3 years	-49.52%	—	—
Current Drawdown Current decline from peak	-16.18%	-74.21%	+58.03%
Average Drawdown Average peak-to-trough decline	-19.86%	-27.06%	+7.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.19%	49.58%	-40.39%

Volatility

TSLY vs. MSTY - Volatility Comparison

The current volatility for YieldMax TSLA Option Income Strategy ETF (TSLY) is 12.18%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 20.77%. This indicates that TSLY 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

	TSLY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.18%	20.77%	-8.59%
Volatility (6M) Calculated over the trailing 6-month period	23.76%	50.35%	-26.59%
Volatility (1Y) Calculated over the trailing 1-year period	35.67%	62.64%	-26.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.50%	72.01%	-26.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.50%	72.01%	-26.51%

TSLY vs. MSTY - Expense Ratio Comparison

TSLY has a 1.07% expense ratio, which is higher than MSTY's 0.99% expense ratio.

Dividends

TSLY vs. MSTY - Dividend Comparison

TSLY's dividend yield for the trailing twelve months is around 90.66%, less than MSTY's 314.78% yield.

Position	TTM	2025	2024	2023
MSTY YieldMax™ MSTR Option Income Strategy ETF	314.78%	294.61%	104.56%	0.00%
TSLY YieldMax TSLA Option Income Strategy ETF	90.66%	91.19%	82.30%	76.47%

Frequently Asked Questions

Can I hold both TSLY and MSTY in my portfolio?

TSLY and MSTY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLY or MSTY?

MSTY has higher volatility (20.77%) compared to TSLY (12.18%). In terms of maximum drawdown, TSLY dropped -49.52% vs MSTY's -74.21%.

Which ETF is better, TSLY or MSTY?

On 1-year performance, TSLY leads with 16.20% vs -70.33% for MSTY. On fees, MSTY is cheaper at 0.99% per year. On volatility, TSLY has been the lower-risk option at 12.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLY or MSTY?

Over the 1-year period, TSLY has performed better with a 16.20% return vs -70.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLY or MSTY?

MSTY is cheaper with a 0.99% expense ratio, compared with 1.07% for TSLY.

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

MSTY has the higher dividend yield at 314.78%, compared with 90.66% for TSLY.

What is the main difference between TSLY and MSTY?

TSLY is categorized as Options Trading, while MSTY is Derivative Income. Their fees differ too: 1.07% for TSLY and 0.99% for MSTY.

Which has better risk-adjusted returns?

TSLY currently has the higher Sharpe Ratio (0.46 vs -1.13), 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.