XEY vs. MRNY

Last updated Jul 3, 2026

XEY (GraniteShares YieldBOOST Ether ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. XEY charges 1.07%/yr vs 0.99%/yr for MRNY.

Performance

XEY vs. MRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST Ether ETF (XEY) and YieldMax MRNA Option Income Strategy ETF (MRNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XEY

• 1D: 1.01%
• 1M: -8.21%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MRNY

• 1D: 7.93%
• 1M: 51.89%
• 6M: 117.77%
• YTD: 117.77%
• 1Y: 94.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XEY vs. MRNY - Yearly Performance Comparison

	2026 (YTD)
XEY GraniteShares YieldBOOST Ether ETF	-10.97%
MRNY YieldMax MRNA Option Income Strategy ETF	45.64%

Correlation

The correlation between XEY and MRNY is 0.15, 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 Apr 28, 2026	0.15

Return for Risk

XEY vs. MRNY — Risk / Return Rank

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

XEY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MRNY

MRNY Risk / Return Rank: 62
MRNY Sharpe Ratio Rank: 67
MRNY Sortino Ratio Rank: 68
MRNY Omega Ratio Rank: 60
MRNY Calmar Ratio Rank: 71
MRNY Martin Ratio Rank: 43

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.

XEY vs. MRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST Ether ETF (XEY) 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.

	XEY	MRNY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.83	—
Sortino ratio: Return per unit of downside risk	—	2.60	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	3.03	—
Martin ratio: Return relative to average drawdown	—	5.86	—

Drawdowns

XEY vs. MRNY - Drawdown Comparison

The maximum XEY drawdown since its inception was -15.60%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for XEY and MRNY.

Drawdown Indicators

	XEY	MRNY	Difference
Max Drawdown Largest peak-to-trough decline	-15.60%	-82.15%	+66.55%
Max Drawdown (1Y) Largest decline over 1 year	—	-31.53%	—
Current Drawdown Current decline from peak	-13.83%	-54.16%	+40.33%
Average Drawdown Average peak-to-trough decline	-6.15%	-52.93%	+46.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.26%	—

Volatility

Volatility by Period

	XEY	MRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	39.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.25%	52.25%	-35.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	51.38%	-34.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.25%	51.38%	-34.13%

XEY vs. MRNY - Expense Ratio Comparison

XEY has a 1.07% expense ratio, which is higher than MRNY's 0.99% expense ratio.

Dividends

XEY vs. MRNY - Dividend Comparison

XEY's dividend yield for the trailing twelve months is around 12.34%, less than MRNY's 73.03% yield.

Position	TTM	2025	2024	2023
MRNY YieldMax MRNA Option Income Strategy ETF	73.03%	145.98%	178.49%	1.75%
XEY GraniteShares YieldBOOST Ether ETF	12.34%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XEY and MRNY in my portfolio?

XEY and MRNY have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XEY or MRNY?

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.

Which ETF is cheaper, XEY or MRNY?

MRNY is cheaper with a 0.99% expense ratio, compared with 1.07% for XEY.

Which ETF pays a higher dividend yield, XEY or MRNY?

MRNY has the higher dividend yield at 73.03%, compared with 12.34% for XEY.

What is the main difference between XEY and MRNY?

They also come from different issuers: GraniteShares and YieldMax. Their fees differ too: 1.07% for XEY and 0.99% for MRNY.