XYZY vs. MSTY

Last updated Aug 2, 2026

XYZY (YieldMax XYZ Option Income Strategy ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, XYZY returned 0.13% vs -68.40% for MSTY. Their 0.42 correlation means their historical movements had little consistent relationship. Both charge a 0.99% expense ratio.

Performance

XYZY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax XYZ Option Income Strategy ETF (XYZY) 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, XYZY achieves a 12.33% return, which is significantly higher than MSTY's -33.29% return.

XYZY

• 1D: -1.52%
• 1M: 3.92%
• 6M: 21.38%
• YTD: 12.33%
• 1Y: 0.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.57%

MSTY

• 1D: -2.60%
• 1M: -2.63%
• 6M: -31.98%
• YTD: -33.29%
• 1Y: -68.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSTY YieldMax™ MSTR Option Income Strategy ETF	$12.71M	$13.42M	$28.94M
XYZY YieldMax XYZ Option Income Strategy ETF	$283.87K	$283.65K	$420.24K

XYZY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XYZY YieldMax XYZ Option Income Strategy ETF	12.33%	-29.43%	43.75%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-33.29%	-42.71%	212.16%

Correlation

The correlation between XYZY and MSTY is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.42

Return for Risk

XYZY vs. MSTY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XYZY

XYZY Risk / Return Rank: 10
XYZY Sharpe Ratio Rank: 10
XYZY Sortino Ratio Rank: 11
XYZY Omega Ratio Rank: 11
XYZY Calmar Ratio Rank: 9
XYZY Martin Ratio Rank: 9

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 0
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 1
MSTY Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XYZY vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax XYZ Option Income Strategy ETF (XYZY) 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.

	XYZY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	-1.09	+1.00
Sortino ratio: Return per unit of downside risk	0.14	-2.13	+2.27
Omega ratio: Gain probability vs. loss probability	1.02	0.77	+0.24
Calmar ratio: Return relative to maximum drawdown	-0.10	-0.95	+0.86
Martin ratio: Return relative to average drawdown	-0.20	-1.40	+1.20

XYZY vs. MSTY - Sharpe Ratio Comparison

The current XYZY Sharpe Ratio is -0.09, which is higher than the MSTY Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of XYZY 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

XYZY vs. MSTY - Drawdown Comparison

The maximum XYZY drawdown since its inception was -52.30%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for XYZY and MSTY.

Drawdown Indicators

	XYZY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-52.30%	-77.40%	+25.10%
Max Drawdown (1Y) Largest decline over 1 year	-37.72%	-74.91%	+37.19%
Current Drawdown Current decline from peak	-29.47%	-73.77%	+44.30%
Average Drawdown Average peak-to-trough decline	-22.44%	-29.05%	+6.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.95%	50.99%	-33.04%

Volatility

XYZY vs. MSTY - Volatility Comparison

The current volatility for YieldMax XYZ Option Income Strategy ETF (XYZY) is 6.66%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 14.46%. This indicates that XYZY 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

	XYZY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	14.46%	-7.80%
Volatility (6M) Calculated over the trailing 6-month period	30.26%	52.28%	-22.02%
Volatility (1Y) Calculated over the trailing 1-year period	38.84%	65.31%	-26.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.58%	71.91%	-30.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.58%	71.91%	-30.33%

XYZY vs. MSTY - Expense Ratio Comparison

Both XYZY and MSTY have an expense ratio of 0.99%.

Dividends

XYZY vs. MSTY - Dividend Comparison

XYZY's dividend yield for the trailing twelve months is around 78.39%, less than MSTY's 251.54% yield.

Position	TTM	2025	2024	2023
MSTY YieldMax™ MSTR Option Income Strategy ETF	251.54%	294.61%	104.56%	0.00%
XYZY YieldMax XYZ Option Income Strategy ETF	78.39%	95.35%	62.54%	9.85%

Frequently Asked Questions

Can I hold both XYZY and MSTY in my portfolio?

XYZY and MSTY have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYZY or MSTY?

MSTY has higher volatility (14.46%) compared to XYZY (6.66%). In terms of maximum drawdown, XYZY dropped -52.30% vs MSTY's -77.40%.

Which ETF is better, XYZY or MSTY?

On 1-year performance, XYZY leads with 0.13% vs -68.40% for MSTY. Both ETFs have the same 0.99% expense ratio. On volatility, XYZY has been the lower-risk option at 6.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XYZY or MSTY?

Over the 1-year period, XYZY has performed better with a 0.13% return vs -68.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYZY or MSTY?

XYZY and MSTY have the same expense ratio: 0.99% per year.

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

MSTY has the higher dividend yield at 251.54%, compared with 78.39% for XYZY.

Which has better risk-adjusted returns?

XYZY currently has the higher Sharpe Ratio (-0.09 vs -1.09), 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.