XME vs. MSTY

Last updated Jun 14, 2026

XME (SPDR S&P Metals & Mining ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - XME is a Materials fund tracking the S&P Metals & Mining Select Industry Index, while MSTY is a Derivative Income fund actively managed by YieldMax. XME is passively managed, while MSTY is actively managed. Over the past year, XME returned 85.07% vs -62.19% for MSTY. At a 0.36 correlation, their price movements are largely independent. XME charges 0.35%/yr vs 0.99%/yr for MSTY.

Performance

XME vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Metals & Mining ETF (XME) 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, XME achieves a 16.32% return, which is significantly higher than MSTY's -16.01% return.

XME

• 1D: 1.77%
• 1M: 4.20%
• YTD: 16.32%
• 6M: 18.13%
• 1Y: 85.07%
• 3Y*: 35.23%
• 5Y*: 21.78%
• 10Y*: 19.60%

MSTY

• 1D: 2.79%
• 1M: -27.19%
• YTD: -16.01%
• 6M: -25.33%
• 1Y: -62.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XME vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XME SPDR S&P Metals & Mining ETF	16.32%	83.47%	2.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-16.01%	-42.71%	212.16%

Correlation

The correlation between XME and MSTY is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.36

Return for Risk

XME vs. MSTY — Risk / Return Rank

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

XME

XME Risk / Return Rank: 75
XME Sharpe Ratio Rank: 86
XME Sortino Ratio Rank: 74
XME Omega Ratio Rank: 73
XME Calmar Ratio Rank: 82
XME Martin Ratio Rank: 61

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.

XME vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Metals & Mining ETF (XME) 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.

	XME	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	2.41	-1.01	+3.42
Sortino ratio: Return per unit of downside risk	2.86	-1.72	+4.58
Omega ratio: Gain probability vs. loss probability	1.37	0.81	+0.56
Calmar ratio: Return relative to maximum drawdown	3.84	-0.86	+4.71
Martin ratio: Return relative to average drawdown	9.58	-1.29	+10.86

XME vs. MSTY - Sharpe Ratio Comparison

The current XME Sharpe Ratio is 2.41, which is higher than the MSTY Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of XME 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

XME vs. MSTY - Drawdown Comparison

The maximum XME drawdown since its inception was -85.89%, which is greater than MSTY's maximum drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for XME and MSTY.

Drawdown Indicators

	XME	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-71.79%	-14.10%
Max Drawdown (1Y) Largest decline over 1 year	-22.60%	-71.79%	+49.19%
Max Drawdown (3Y) Largest decline over 3 years	-30.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.69%	—	—
Current Drawdown Current decline from peak	-9.33%	-66.98%	+57.65%
Average Drawdown Average peak-to-trough decline	-44.09%	-26.54%	-17.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.05%	48.20%	-39.15%

Volatility

XME vs. MSTY - Volatility Comparison

The current volatility for SPDR S&P Metals & Mining ETF (XME) is 15.26%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 19.17%. This indicates that XME 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

	XME	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.26%	19.17%	-3.91%
Volatility (6M) Calculated over the trailing 6-month period	28.51%	49.63%	-21.12%
Volatility (1Y) Calculated over the trailing 1-year period	36.11%	61.33%	-25.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.84%	71.88%	-39.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.96%	71.88%	-38.92%

XME vs. MSTY - Expense Ratio Comparison

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

Dividends

XME vs. MSTY - Dividend Comparison

XME's dividend yield for the trailing twelve months is around 0.32%, less than MSTY's 241.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSTY YieldMax™ MSTR Option Income Strategy ETF	241.17%	294.61%	104.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XME SPDR S&P Metals & Mining ETF	0.32%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

Can I hold both XME and MSTY in my portfolio?

XME and MSTY have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XME or MSTY?

MSTY has higher volatility (19.17%) compared to XME (15.26%). In terms of maximum drawdown, XME dropped -85.89% vs MSTY's -71.79%.

Which ETF is better, XME or MSTY?

On 1-year performance, XME leads with 85.07% vs -62.19% for MSTY. On fees, XME is cheaper at 0.35% per year. On volatility, XME has been the lower-risk option at 15.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XME or MSTY?

Over the 1-year period, XME has performed better with a 85.07% return vs -62.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XME or MSTY?

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

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

MSTY has the higher dividend yield at 241.17%, compared with 0.32% for XME.

What is the main difference between XME and MSTY?

XME is categorized as Materials, while MSTY is Derivative Income. They also come from different issuers: State Street and YieldMax. Their fees differ too: 0.35% for XME and 0.99% for MSTY.

Which has better risk-adjusted returns?

XME currently has the higher Sharpe Ratio (2.41 vs -1.01), 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.