ULTI vs. MRNY
ULTI (REX IncomeMax Option Strategy ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. At a 0.33 correlation, their price movements are largely independent. ULTI charges 1.25%/yr vs 0.99%/yr for MRNY.
Performance
ULTI vs. MRNY - Performance Comparison
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Returns By Period
In the year-to-date period, ULTI achieves a -3.92% return, which is significantly lower than MRNY's 93.46% return.
ULTI
- 1D
- -2.81%
- 1M
- -24.77%
- 6M
- -22.06%
- YTD
- -3.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MRNY
- 1D
- 1.05%
- 1M
- 23.55%
- 6M
- 49.76%
- YTD
- 93.46%
- 1Y
- 67.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ULTI vs. MRNY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ULTI REX IncomeMax Option Strategy ETF | -3.92% | -38.67% |
MRNY YieldMax MRNA Option Income Strategy ETF | 93.46% | -1.55% |
Correlation
The correlation between ULTI and MRNY is 0.33, 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 Oct 31, 2025 | 0.33 |
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Return for Risk
ULTI vs. MRNY — Risk / Return Rank
ULTI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MRNY
ULTI vs. MRNY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for REX IncomeMax Option Strategy ETF (ULTI) 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.
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.
| ULTI | MRNY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.24 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.14 | — |
| Martin ratioReturn relative to average drawdown | — | 4.12 | — |
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Drawdowns
ULTI vs. MRNY - Drawdown Comparison
The maximum ULTI drawdown since its inception was -42.09%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for ULTI and MRNY.
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Drawdown Indicators
| ULTI | MRNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.09% | -82.15% | +40.06% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.53% | — |
Current DrawdownCurrent decline from peak | -41.08% | -59.27% | +18.19% |
Average DrawdownAverage peak-to-trough decline | -28.36% | -52.98% | +24.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 16.34% | — |
Volatility
ULTI vs. MRNY - Volatility Comparison
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Volatility by Period
| ULTI | MRNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 20.13% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 39.63% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 61.35% | 52.91% | +8.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.35% | 51.49% | +9.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.35% | 51.49% | +9.86% |
ULTI vs. MRNY - Expense Ratio Comparison
ULTI has a 1.25% expense ratio, which is higher than MRNY's 0.99% expense ratio.
Dividends
ULTI vs. MRNY - Dividend Comparison
ULTI's dividend yield for the trailing twelve months is around 79.75%, less than MRNY's 86.35% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
MRNY YieldMax MRNA Option Income Strategy ETF | 86.35% | 145.98% | 178.49% | 1.75% |
ULTI REX IncomeMax Option Strategy ETF | 79.75% | 14.96% | 0.00% | 0.00% |
Frequently Asked Questions
ULTI and MRNY 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.
On fees, MRNY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MRNY is cheaper with a 0.99% expense ratio, compared with 1.25% for ULTI.
MRNY has the higher dividend yield at 86.35%, compared with 79.75% for ULTI.
They also come from different issuers: REX Shares and YieldMax. Their fees differ too: 1.25% for ULTI and 0.99% for MRNY.
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