WISE vs. MSTY

Last updated Jul 14, 2026

WISE (Themes Generative Artificial Intelligence ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - WISE is a Technology Equities fund tracking the Solactive Generative Artificial Intelligence Index - Benchmark TR Gross, while MSTY is a Derivative Income fund actively managed by YieldMax. WISE is passively managed, while MSTY is actively managed. Over the past year, WISE returned 2.71% vs -73.76% for MSTY. At a 0.49 correlation, their price movements are largely independent. WISE charges 0.35%/yr vs 0.99%/yr for MSTY.

Performance

WISE vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Generative Artificial Intelligence ETF (WISE) 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, WISE achieves a -7.50% return, which is significantly higher than MSTY's -35.55% return.

WISE

• 1D: -2.71%
• 1M: -9.39%
• 6M: -13.42%
• YTD: -7.50%
• 1Y: 2.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -2.03%
• 1M: -23.27%
• 6M: -39.01%
• YTD: -35.55%
• 1Y: -73.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WISE vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WISE Themes Generative Artificial Intelligence ETF	-7.50%	5.88%	34.08%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-35.55%	-42.71%	212.16%

Correlation

The correlation between WISE and MSTY is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.49

The correlation between WISE and MSTY has been stable across timeframes, ranging from 0.49 to 0.51 - a consistent structural relationship.

Return for Risk

WISE vs. MSTY — Risk / Return Rank

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

WISE

WISE Risk / Return Rank: 11
WISE Sharpe Ratio Rank: 11
WISE Sortino Ratio Rank: 11
WISE Omega Ratio Rank: 11
WISE Calmar Ratio Rank: 10
WISE Martin Ratio Rank: 10

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.

WISE vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Generative Artificial Intelligence ETF (WISE) 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.

	WISE	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	0.08	-1.15	+1.23
Sortino ratio: Return per unit of downside risk	0.34	-2.35	+2.70
Omega ratio: Gain probability vs. loss probability	1.04	0.75	+0.29
Calmar ratio: Return relative to maximum drawdown	0.08	-0.95	+1.03
Martin ratio: Return relative to average drawdown	0.18	-1.41	+1.59

WISE vs. MSTY - Sharpe Ratio Comparison

The current WISE Sharpe Ratio is 0.08, which is higher than the MSTY Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of WISE 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

WISE vs. MSTY - Drawdown Comparison

The maximum WISE drawdown since its inception was -39.15%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for WISE and MSTY.

Drawdown Indicators

	WISE	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-77.40%	+38.25%
Max Drawdown (1Y) Largest decline over 1 year	-34.08%	-77.40%	+43.32%
Current Drawdown Current decline from peak	-21.26%	-74.66%	+53.40%
Average Drawdown Average peak-to-trough decline	-12.04%	-28.01%	+15.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.06%	52.19%	-37.13%

Volatility

WISE vs. MSTY - Volatility Comparison

The current volatility for Themes Generative Artificial Intelligence ETF (WISE) is 10.35%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 23.76%. This indicates that WISE 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

	WISE	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.35%	23.76%	-13.41%
Volatility (6M) Calculated over the trailing 6-month period	26.32%	53.06%	-26.74%
Volatility (1Y) Calculated over the trailing 1-year period	33.96%	64.61%	-30.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.89%	72.32%	-38.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.89%	72.32%	-38.43%

WISE vs. MSTY - Expense Ratio Comparison

WISE has a 0.35% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

WISE vs. MSTY - Dividend Comparison

WISE's dividend yield for the trailing twelve months is around 4.46%, less than MSTY's 289.43% yield.

Position	TTM	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	289.43%	294.61%	104.56%
WISE Themes Generative Artificial Intelligence ETF	4.46%	4.12%	0.00%

Frequently Asked Questions

Can I hold both WISE and MSTY in my portfolio?

WISE and MSTY have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WISE or MSTY?

MSTY has higher volatility (23.76%) compared to WISE (10.35%). In terms of maximum drawdown, WISE dropped -39.15% vs MSTY's -77.40%.

Which ETF is better, WISE or MSTY?

On 1-year performance, WISE leads with 2.71% vs -73.76% for MSTY. On fees, WISE is cheaper at 0.35% per year. On volatility, WISE has been the lower-risk option at 10.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WISE or MSTY?

Over the 1-year period, WISE has performed better with a 2.71% return vs -73.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WISE or MSTY?

WISE is cheaper with a 0.35% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 289.43%, compared with 4.46% for WISE.

What is the main difference between WISE and MSTY?

WISE is categorized as Technology Equities, while MSTY is Derivative Income. They also come from different issuers: Themes and YieldMax. Their fees differ too: 0.35% for WISE and 0.99% for MSTY.

Which has better risk-adjusted returns?

WISE currently has the higher Sharpe Ratio (0.08 vs -1.15), 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.