XDTE vs. MSTY

Last updated Jun 9, 2026

XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XDTE returned 22.20% vs -60.53% for MSTY. At a 0.44 correlation, their price movements are largely independent. XDTE charges 0.97%/yr vs 0.99%/yr for MSTY.

Performance

XDTE vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) 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, XDTE achieves a 6.69% return, which is significantly higher than MSTY's -14.65% return.

XDTE

• 1D: 0.31%
• 1M: -0.27%
• YTD: 6.69%
• 6M: 6.52%
• 1Y: 22.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: 4.76%
• 1M: -29.07%
• YTD: -14.65%
• 6M: -26.17%
• 1Y: -60.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDTE vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.69%	12.60%	16.39%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-14.65%	-42.71%	100.94%

Correlation

The correlation between XDTE and MSTY is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.44

Return for Risk

XDTE vs. MSTY — Risk / Return Rank

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

XDTE

XDTE Risk / Return Rank: 68
XDTE Sharpe Ratio Rank: 67
XDTE Sortino Ratio Rank: 63
XDTE Omega Ratio Rank: 68
XDTE Calmar Ratio Rank: 64
XDTE Martin Ratio Rank: 76

MSTY

MSTY Risk / Return Rank: 2
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 1
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 2
MSTY Martin Ratio Rank: 3

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.

XDTE vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) 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.

	XDTE	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	1.99	-1.00	+2.98
Sortino ratio: Return per unit of downside risk	2.64	-1.67	+4.30
Omega ratio: Gain probability vs. loss probability	1.37	0.81	+0.55
Calmar ratio: Return relative to maximum drawdown	2.90	-0.85	+3.75
Martin ratio: Return relative to average drawdown	13.13	-1.28	+14.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDTE vs. MSTY - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 1.99, which is higher than the MSTY Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of XDTE 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.

Sharpe Ratios by Period

	XDTE	MSTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	-1.00	+2.98
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	0.26	+0.91

Drawdowns

XDTE vs. MSTY - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for XDTE and MSTY.

Drawdown Indicators

	XDTE	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-71.79%	+52.70%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-71.79%	+64.11%
Current Drawdown Current decline from peak	-2.61%	-66.45%	+63.84%
Average Drawdown Average peak-to-trough decline	-2.31%	-26.30%	+23.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	47.43%	-45.74%

Volatility

XDTE vs. MSTY - Volatility Comparison

The current volatility for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) is 3.50%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 18.89%. This indicates that XDTE 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

	XDTE	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	18.89%	-15.39%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	49.13%	-40.45%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	60.99%	-49.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	71.94%	-58.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.92%	71.94%	-58.02%

XDTE vs. MSTY - Expense Ratio Comparison

XDTE has a 0.97% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

XDTE vs. MSTY - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 33.68%, less than MSTY's 233.09% yield.

Position	TTM	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	233.09%	294.61%	104.56%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.68%	39.16%	20.35%

Frequently Asked Questions

Can I hold both XDTE and MSTY in my portfolio?

XDTE and MSTY have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDTE or MSTY?

MSTY has higher volatility (18.89%) compared to XDTE (3.50%). In terms of maximum drawdown, XDTE dropped -19.09% vs MSTY's -71.79%.

Which ETF is better, XDTE or MSTY?

On 1-year performance, XDTE leads with 22.20% vs -60.53% for MSTY. On fees, XDTE is cheaper at 0.97% per year. On volatility, XDTE has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDTE or MSTY?

Over the 1-year period, XDTE has performed better with a 22.20% return vs -60.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDTE or MSTY?

XDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 233.09%, compared with 33.68% for XDTE.

What is the main difference between XDTE and MSTY?

They also come from different issuers: Roundhill and YieldMax. Their fees differ too: 0.97% for XDTE and 0.99% for MSTY.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.99 vs -1.00), 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.