YSPY vs. MSTY

Last updated Jun 24, 2026

YSPY (GraniteShares YieldBOOST SPY ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - YSPY is a Leveraged Equities fund actively managed by GraniteShares, while MSTY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, YSPY returned 20.09% vs -66.58% for MSTY. At a 0.47 correlation, their price movements are largely independent. YSPY charges 1.07%/yr vs 0.99%/yr for MSTY.

Performance

YSPY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST SPY ETF (YSPY) 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, YSPY achieves a 2.65% return, which is significantly higher than MSTY's -27.80% return.

YSPY

• 1D: -0.71%
• 1M: -2.24%
• YTD: 2.65%
• 6M: 0.20%
• 1Y: 20.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -4.55%
• 1M: -31.74%
• YTD: -27.80%
• 6M: -29.80%
• 1Y: -66.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YSPY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025
YSPY GraniteShares YieldBOOST SPY ETF	2.65%	8.36%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-27.80%	-34.60%

Correlation

The correlation between YSPY and MSTY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	0.47

Return for Risk

YSPY vs. MSTY — Risk / Return Rank

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

YSPY

YSPY Risk / Return Rank: 31
YSPY Sharpe Ratio Rank: 30
YSPY Sortino Ratio Rank: 26
YSPY Omega Ratio Rank: 36
YSPY Calmar Ratio Rank: 29
YSPY Martin Ratio Rank: 35

MSTY

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

YSPY vs. MSTY - Risk-Adjusted Trends Comparison

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

	YSPY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	1.05	-1.08	+2.13
Sortino ratio: Return per unit of downside risk	1.37	-1.96	+3.33
Omega ratio: Gain probability vs. loss probability	1.23	0.79	+0.45
Calmar ratio: Return relative to maximum drawdown	1.38	-0.93	+2.31
Martin ratio: Return relative to average drawdown	5.05	-1.35	+6.40

YSPY vs. MSTY - Sharpe Ratio Comparison

The current YSPY Sharpe Ratio is 1.05, which is higher than the MSTY Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of YSPY 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

YSPY vs. MSTY - Drawdown Comparison

The maximum YSPY drawdown since its inception was -18.74%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for YSPY and MSTY.

Drawdown Indicators

	YSPY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-18.74%	-71.79%	+53.05%
Max Drawdown (1Y) Largest decline over 1 year	-14.60%	-71.79%	+57.19%
Current Drawdown Current decline from peak	-3.15%	-71.62%	+68.47%
Average Drawdown Average peak-to-trough decline	-4.90%	-26.97%	+22.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	49.36%	-45.37%

Volatility

YSPY vs. MSTY - Volatility Comparison

The current volatility for GraniteShares YieldBOOST SPY ETF (YSPY) is 3.13%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 19.32%. This indicates that YSPY 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

	YSPY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	19.32%	-16.19%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	49.66%	-35.66%
Volatility (1Y) Calculated over the trailing 1-year period	19.23%	62.02%	-42.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.01%	71.82%	-50.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.01%	71.82%	-50.81%

YSPY vs. MSTY - Expense Ratio Comparison

YSPY has a 1.07% expense ratio, which is higher than MSTY's 0.99% expense ratio.

Dividends

YSPY vs. MSTY - Dividend Comparison

YSPY's dividend yield for the trailing twelve months is around 56.44%, less than MSTY's 286.06% yield.

Position	TTM	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	286.06%	294.61%	104.56%
YSPY GraniteShares YieldBOOST SPY ETF	56.44%	45.57%	0.00%

Frequently Asked Questions

Can I hold both YSPY and MSTY in my portfolio?

YSPY and MSTY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YSPY or MSTY?

MSTY has higher volatility (19.32%) compared to YSPY (3.13%). In terms of maximum drawdown, YSPY dropped -18.74% vs MSTY's -71.79%.

Which ETF is better, YSPY or MSTY?

On 1-year performance, YSPY leads with 20.09% vs -66.58% for MSTY. On fees, MSTY is cheaper at 0.99% per year. On volatility, YSPY has been the lower-risk option at 3.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YSPY or MSTY?

Over the 1-year period, YSPY has performed better with a 20.09% return vs -66.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YSPY or MSTY?

MSTY is cheaper with a 0.99% expense ratio, compared with 1.07% for YSPY.

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

MSTY has the higher dividend yield at 286.06%, compared with 56.44% for YSPY.

What is the main difference between YSPY and MSTY?

YSPY is categorized as Leveraged Equities, while MSTY is Derivative Income. They also come from different issuers: GraniteShares and YieldMax. Their fees differ too: 1.07% for YSPY and 0.99% for MSTY.

Which has better risk-adjusted returns?

YSPY currently has the higher Sharpe Ratio (1.05 vs -1.08), 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.