YMAG vs. MSFO

Last updated Jun 24, 2026

YMAG (YieldMax Magnificent 7 Fund of Option Income ETFs) and MSFO (YieldMax MSFT Option Income Strategy ETF ) are both exchange-traded funds - YMAG is a Derivative Income fund actively managed by YieldMax, while MSFO is a Options Trading fund actively managed by YieldMax. Both are actively managed. Over the past year, YMAG returned 16.69% vs -18.05% for MSFO. A 0.66 correlation means they provide meaningful diversification when combined. YMAG charges 1.28%/yr vs 0.99%/yr for MSFO.

Performance

YMAG vs. MSFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) and YieldMax MSFT Option Income Strategy ETF (MSFO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YMAG achieves a -3.07% return, which is significantly higher than MSFO's -18.98% return.

YMAG

• 1D: -0.87%
• 1M: -7.55%
• YTD: -3.07%
• 6M: -4.07%
• 1Y: 16.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFO

• 1D: 1.83%
• 1M: -10.24%
• YTD: -18.98%
• 6M: -19.24%
• 1Y: -18.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YMAG vs. MSFO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YMAG YieldMax Magnificent 7 Fund of Option Income ETFs	-3.07%	18.64%	34.66%
MSFO YieldMax MSFT Option Income Strategy ETF	-18.98%	15.69%	4.27%

Correlation

The correlation between YMAG and MSFO is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Jan 30, 2024	0.66

The correlation between YMAG and MSFO shifts across timeframes, from 0.54 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.

Return for Risk

YMAG vs. MSFO — Risk / Return Rank

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

YMAG

YMAG Risk / Return Rank: 27
YMAG Sharpe Ratio Rank: 29
YMAG Sortino Ratio Rank: 27
YMAG Omega Ratio Rank: 27
YMAG Calmar Ratio Rank: 25
YMAG Martin Ratio Rank: 29

MSFO

MSFO Risk / Return Rank: 3
MSFO Sharpe Ratio Rank: 3
MSFO Sortino Ratio Rank: 3
MSFO Omega Ratio Rank: 3
MSFO Calmar Ratio Rank: 4
MSFO Martin Ratio Rank: 2

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.

YMAG vs. MSFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) and YieldMax MSFT Option Income Strategy ETF (MSFO). 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.

	YMAG	MSFO	Difference
Sharpe ratio: Return per unit of total volatility	1.01	-0.81	+1.82
Sortino ratio: Return per unit of downside risk	1.42	-1.01	+2.44
Omega ratio: Gain probability vs. loss probability	1.18	0.87	+0.31
Calmar ratio: Return relative to maximum drawdown	1.17	-0.62	+1.78
Martin ratio: Return relative to average drawdown	3.84	-1.28	+5.12

YMAG vs. MSFO - Sharpe Ratio Comparison

The current YMAG Sharpe Ratio is 1.01, which is higher than the MSFO Sharpe Ratio of -0.81. The chart below compares the historical Sharpe Ratios of YMAG and MSFO, 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

YMAG vs. MSFO - Drawdown Comparison

The maximum YMAG drawdown since its inception was -25.96%, smaller than the maximum MSFO drawdown of -29.29%. Use the drawdown chart below to compare losses from any high point for YMAG and MSFO.

Drawdown Indicators

	YMAG	MSFO	Difference
Max Drawdown Largest peak-to-trough decline	-25.96%	-29.29%	+3.33%
Max Drawdown (1Y) Largest decline over 1 year	-14.38%	-29.29%	+14.91%
Current Drawdown Current decline from peak	-9.15%	-25.76%	+16.61%
Average Drawdown Average peak-to-trough decline	-4.56%	-6.84%	+2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.35%	14.12%	-9.77%

Volatility

YMAG vs. MSFO - Volatility Comparison

The current volatility for YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) is 5.86%, while YieldMax MSFT Option Income Strategy ETF (MSFO) has a volatility of 9.49%. This indicates that YMAG experiences smaller price fluctuations and is considered to be less risky than MSFO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YMAG	MSFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.86%	9.49%	-3.63%
Volatility (6M) Calculated over the trailing 6-month period	12.60%	19.90%	-7.30%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	22.40%	-5.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.98%	19.97%	+1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.98%	19.97%	+1.01%

YMAG vs. MSFO - Expense Ratio Comparison

YMAG has a 1.28% expense ratio, which is higher than MSFO's 0.99% expense ratio.

Dividends

YMAG vs. MSFO - Dividend Comparison

YMAG's dividend yield for the trailing twelve months is around 53.52%, more than MSFO's 46.39% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	46.39%	33.91%	35.15%	6.44%
YMAG YieldMax Magnificent 7 Fund of Option Income ETFs	53.52%	52.27%	35.22%	0.00%

Frequently Asked Questions

Can I hold both YMAG and MSFO in my portfolio?

YMAG and MSFO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YMAG or MSFO?

MSFO has higher volatility (9.49%) compared to YMAG (5.86%). In terms of maximum drawdown, YMAG dropped -25.96% vs MSFO's -29.29%.

Which ETF is better, YMAG or MSFO?

On 1-year performance, YMAG leads with 16.69% vs -18.05% for MSFO. On fees, MSFO is cheaper at 0.99% per year. On volatility, YMAG has been the lower-risk option at 5.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YMAG or MSFO?

Over the 1-year period, YMAG has performed better with a 16.69% return vs -18.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YMAG or MSFO?

MSFO is cheaper with a 0.99% expense ratio, compared with 1.28% for YMAG.

Which ETF pays a higher dividend yield, YMAG or MSFO?

YMAG has the higher dividend yield at 53.52%, compared with 46.39% for MSFO.

What is the main difference between YMAG and MSFO?

YMAG is categorized as Derivative Income, while MSFO is Options Trading. Their fees differ too: 1.28% for YMAG and 0.99% for MSFO.

Which has better risk-adjusted returns?

YMAG currently has the higher Sharpe Ratio (1.01 vs -0.81), 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.