YMAX vs. MSTW

Last updated Jun 4, 2026

YMAX (YieldMax Universe Fund of Option Income ETFs) and MSTW (Roundhill MSTR WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. A 0.70 correlation means they provide meaningful diversification when combined. YMAX charges 1.28%/yr vs 0.99%/yr for MSTW.

Performance

YMAX vs. MSTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Universe Fund of Option Income ETFs (YMAX) and Roundhill MSTR WeeklyPay ETF (MSTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YMAX achieves a 6.06% return, which is significantly higher than MSTW's -23.56% return.

YMAX

• 1D: -1.70%
• 1M: 6.76%
• YTD: 6.06%
• 6M: 3.56%
• 1Y: 9.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTW

• 1D: -8.54%
• 1M: -36.78%
• YTD: -23.56%
• 6M: -41.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YMAX vs. MSTW - Yearly Performance Comparison

	2026 (YTD)	2025
YMAX YieldMax Universe Fund of Option Income ETFs	6.06%	-6.36%
MSTW Roundhill MSTR WeeklyPay ETF	-23.56%	-71.42%

Correlation

The correlation between YMAX and MSTW is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.70

Return for Risk

YMAX vs. MSTW — Risk / Return Rank

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

YMAX

YMAX Risk / Return Rank: 14
YMAX Sharpe Ratio Rank: 14
YMAX Sortino Ratio Rank: 14
YMAX Omega Ratio Rank: 15
YMAX Calmar Ratio Rank: 13
YMAX Martin Ratio Rank: 12

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.

YMAX vs. MSTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Universe Fund of Option Income ETFs (YMAX) and Roundhill MSTR WeeklyPay ETF (MSTW). 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.

	YMAX	MSTW	Difference
Sharpe ratio: Return per unit of total volatility	0.42	—	—
Sortino ratio: Return per unit of downside risk	0.70	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.35	—	—
Martin ratio: Return relative to average drawdown	0.82	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	YMAX	MSTW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	-0.94	+1.63

Drawdowns

YMAX vs. MSTW - Drawdown Comparison

The maximum YMAX drawdown since its inception was -26.13%, smaller than the maximum MSTW drawdown of -81.85%. Use the drawdown chart below to compare losses from any high point for YMAX and MSTW.

Drawdown Indicators

	YMAX	MSTW	Difference
Max Drawdown Largest peak-to-trough decline	-26.13%	-81.85%	+55.72%
Max Drawdown (1Y) Largest decline over 1 year	-26.13%	—	—
Current Drawdown Current decline from peak	-5.98%	-78.15%	+72.17%
Average Drawdown Average peak-to-trough decline	-6.33%	-54.49%	+48.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.99%	—	—

Volatility

Volatility by Period

	YMAX	MSTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.62%	89.01%	-67.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.97%	89.01%	-66.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.97%	89.01%	-66.04%

YMAX vs. MSTW - Expense Ratio Comparison

YMAX has a 1.28% expense ratio, which is higher than MSTW's 0.99% expense ratio.

Dividends

YMAX vs. MSTW - Dividend Comparison

YMAX's dividend yield for the trailing twelve months is around 72.94%, less than MSTW's 239.64% yield.

Position	TTM	2025	2024
MSTW Roundhill MSTR WeeklyPay ETF	239.64%	106.94%	0.00%
YMAX YieldMax Universe Fund of Option Income ETFs	72.94%	78.70%	44.20%

Frequently Asked Questions

Can I hold both YMAX and MSTW in my portfolio?

YMAX and MSTW have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, YMAX or MSTW?

On fees, MSTW 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, YMAX or MSTW?

MSTW is cheaper with a 0.99% expense ratio, compared with 1.28% for YMAX.

Which ETF pays a higher dividend yield, YMAX or MSTW?

MSTW has the higher dividend yield at 239.64%, compared with 72.94% for YMAX.

What is the main difference between YMAX and MSTW?

They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 1.28% for YMAX and 0.99% for MSTW.