Which paid more, APLY or MSTY?

Over the year to Oct 28, 2026, APLY paid 28.6% of its starting price in cash and MSTY paid 33.4%, so MSTY paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, APLY or MSTY?

With every distribution reinvested, APLY returned +18.2% and MSTY −43.4% over the year to Oct 28, 2026.

Which is cheaper, APLY or MSTY?

APLY charges 1.04% a year and MSTY charges 0.99%, so MSTY is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Income ETFs

APLY vs MSTY: Dividend Yield & Total Return

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Over the year to Oct 28, 2026, MSTY paid 33.4% of its price in cash against APLY’s 28.6%, though APLY returned more with it reinvested.

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Net assets on Oct 27, 2026: $112m for YieldMax AAPL Option Income Strategy ETF and $1.0bn for YieldMax MSTR Option Income Strategy ETF.

APLY on its own →MSTY on its own →

At a glance

28.6%

APLY cash paid, 1 year

33.4%

MSTY cash paid, 1 year

+18.2%

APLY total return, 1 year

−43.4%

MSTY total return, 1 year

APLY · 1 year to Oct 28, 2026 10.1 pts behind AAPL

APLY

+18.2%

AAPL

+28.3%

10.1 pts behind AAPL

APLY over 1 year: paid 28.6%, price −14.2%, total +18.2%, AAPL +28.3%, −10.1 pts. Data to Oct 28, 2026.

AAPL

+28.3%

APLY

+18.2%

28.6% as cash

10.1 pts behind AAPL

Total return, distributions reinvested

10.1 pts behind AAPL

APLY over 1 year: paid 28.6%, price −14.2%, total +18.2%, AAPL +28.3%, −10.1 pts. Data to Oct 28, 2026.

AAPL

+28.3%

APLY

+18.2%

10.1 pts behind AAPL

28.6% of it arrived as cash. Total return, distributions reinvested. APLY over 1 year: paid 28.6%, price −14.2%, total +18.2%, AAPL +28.3%, −10.1 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

MSTY · 1 year to Oct 28, 2026 5.6 pts ahead of MSTR

MSTY

−43.4%

MSTR

−49.0%

5.6 pts ahead of MSTR

MSTY over 1 year: paid 33.4%, price −75.2%, total −43.4%, MSTR −49.0%, +5.6 pts. Data to Oct 28, 2026.

MSTR

−49.0%

MSTY

−43.4%

5.6 pts ahead of MSTR

Total return, distributions reinvested

5.6 pts ahead of MSTR

MSTY over 1 year: paid 33.4%, price −75.2%, total −43.4%, MSTR −49.0%, +5.6 pts. Data to Oct 28, 2026.

MSTR

−49.0%

MSTY

−43.4%

5.6 pts ahead of MSTR

33.4% of it arrived as cash. Both charts share one scale, with zero at the line. MSTY over 1 year: paid 33.4%, price −75.2%, total −43.4%, MSTR −49.0%, +5.6 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

Pair scorecard

MSTY costs 0.05 points a year less; their one-year returns differ by 61.6 points; MSTY is 8.9 times larger.

Points (pts) are percentage points.

APLY vs MSTY: Dividend Yield & Total Return
Measure	APLY	MSTY
Paid and earned
Measure	APLY	MSTY
Total return, 1 year	+18.2%	−43.4%
Price change, 1 year	fell 14.2%	fell 75.2%
Return of capital, issuer estimate		14% of the Oct 30, 2026 payment
Against its benchmark
Measure	APLY	MSTY
Benchmark	Apple (AAPL)	MicroStrategy (MSTR)
Cost and size
Measure	APLY	MSTY
Expense ratio	1.04%	0.99%
Net assets, as of Oct 27, 2026	$112m	$1.0bn
Holdings
Measure	APLY	MSTY
Holdings in common	20%

ETFIQ Distribution Coverage Score · APLY scores higher How much of what it paid out did its total return cover?

IQ Income Score84.5APLY19.6MSTY

How much of its payouts the fund's total return covered, ranked against 74 income ETFs writing on a single company. 100 is best. How it is computed

APLY 84.5

MSTY 19.6

0.7, the lowest in this set 99.3, the highest

A percentile among the 74 income ETFs writing on a single company. One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Holdings in common uses holdings dated Oct 28, 2026. Method

Risk and return

Mar 1, 2024 to Oct 23, 2026 · 138 weekly returns

APLY MSTY

Return

Total return edge APLY +53.9% +36.1%

Annualized edge APLY +17.6% +12.3%

Price return edge APLY −32.9% −89.1%

Risk

Volatility edge APLY 22.0% 61.8%

Max drawdown edge APLY −24.1% −76.2%

Downside capture 91.8% 97.2%

Beta 0.78 0.73

Risk-adjusted

Sharpe edge APLY 0.65 0.42

Sortino edge APLY 0.90 0.65

Treynor 0.145 0.358

Calmar edge APLY 0.73 0.16

Against the benchmark

Alpha −4.1% a year −2.3% a year

Alpha t-stat −1.45 −0.23

Information ratio −1.09 −0.47

Tracking error 7.8% 27.4%

Each against its own benchmark: APLY against AAPL, Apr 28, 2023 to Oct 23, 2026; MSTY against MSTR, Mar 1, 2024 to Oct 23, 2026.

Reading

APLY returned more: +53.9% to +36.1%. APLY swung less: 22.0% to 61.8%. APLY fell less at its worst: −24.1% to −76.2%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: APLY vs MSTY: Dividend Yield & Total Return
Measure	APLY	MSTY	Edge	How it is measured
Return
Total return	+53.9%	+36.1%	APLY	Price change plus distributions, reinvested.
Annualized	+17.6%	+12.3%	APLY	Total return as a yearly rate.
Price return	−32.9%	−89.1%	APLY	Price change alone, distributions left out.
Risk
Volatility	22.0%	61.8%	APLY	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	16.1%	40.0%	APLY	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−24.1%	−76.2%	APLY	Deepest fall from a high to the low after it.
Upside capture	66.1%	35.5%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	91.8%	97.2%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.78	0.73	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.94	0.93	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.65	0.42	APLY	Return above Treasury bills per unit of volatility.
Sortino	0.90	0.65	APLY	Return above Treasury bills per unit of downside deviation.
Treynor	0.145	0.358		Return above Treasury bills per unit of beta.
Calmar	0.73	0.16	APLY	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	AAPL	MSTR		The ETF each fund is measured against.
Alpha	−4.1% a year	−2.3% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−1.45	−0.23	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−9.7% to +1.5%	−21.9% to +17.3%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−1.09	−0.47		Return against its benchmark per unit of tracking error.
Tracking error	7.8%	27.4%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 138 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

20%

By the books each fund has filed, APLY and MSTY hold 20% of their money in the same securities at the same weight. Holdings dated Oct 28, 2026.

50%

0 half 100%

half

20% in common

Positions both hold · largest shared weight first APLY MSTY

United States Treasury Note/Bond 2.375% 05/15/2027 13.93% 18.81%

United States Treasury Note/Bond 3.375% 09/15/2027 26.10% 5.96%

Only in one fund ↓

Only in APLY

AAPL 12/18/2026 310.01 C 11.68%

AAPL US 10/30/26 C352.5 0.03%

AAPL US 10/30/26 C355 0.02%

AAPL US 10/30/26 C350 -0.12%

AAPL US 10/30/26 C347.5 -0.13%

AAPL 12/18/2026 310.01 P -0.86%

Only in MSTY

MSTR US 11/20/26 C135 6.30%

MSTR 12/18/2026 150.01 C 4.40%

MSTR US 10/30/26 C157.5 0.19%

MSTR US 10/30/26 C160 0.11%

MSTR US 10/30/26 C162.5 0.10%

MSTR US 10/30/26 C148 -0.03%

MSTR US 10/30/26 C150 -0.19%

MSTR US 10/30/26 C155 -0.23%

Check overlap with more funds →

Side by side

APLY YieldMax AAPL Option Income Strategy ETF · Synthetic covered call on AAPL, paying weekly MSTY YieldMax MSTR Option Income Strategy ETF · Synthetic covered call on MSTR, paying weekly

Issuer YieldMax YieldMax

Strategy synthetic covered call synthetic covered call

Benchmark Apple (AAPL) MicroStrategy (MSTR)

Pays weekly weekly

Payout rate, annualized 20.9% 60.3%

Expense ratio 1.04% 0.99%

Cash paid, 1 year 28.6% 33.4%

Price change, 1 year −14.2% −75.2%

Total return, 1 year +18.2% −43.4%

Benchmark return, 1 year +28.3% −49.0%

Ahead or behind −10.1 pts +5.6 pts

Return of capital, latest estimate not published 14%

Age 3.5 years 2.7 years

Net assets, as of Oct 27, 2026 $112m $1.0bn

As of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: APLY vs MSTY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	APLY	MSTY	APLY	MSTY	APLY	MSTY
3 months	0.0%	+42.2%	6.7%	25.1%	−1.8 pts	−13.3 pts
6 months	+18.3%	−9.7%	17.5%	28.9%	−9.2 pts	−1.4 pts
1 year	+18.2%	−43.4%	28.6%	33.4%	−10.1 pts	+5.6 pts
3 years	+63.0%	–	73.1%	–	−44.1 pts	–
Since launchNot the same days: APLY Apr 2023 · MSTY Feb 2024	+62.0%	+69.4%	76.2%	224.6%	−47.9 pts	−34.2 pts

– means no data for this window. Open this comparison in the app →

Client brief · page 1 of 2 Report BR-DBACF179E8

APLY and MSTY are built for the same job. How do they differ in cost, holdings and results?

Income paid. APLY paid 28.6% and MSTY 33.4% (cash paid over 1 year, as a share of its price at the start), a gap of 4.8 points.
What each is measured against. APLY is measured against Apple (AAPL) and MSTY against MicroStrategy (MSTR).
Holdings in common. 20% of the weight is in the same securities (holdings dated Oct 28, 2026).

Data as of Oct 28, 2026.

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About each fund

APLY

Over the year to Oct 28, 2026, APLY paid 28.6% of its starting value in cash distributions while its price fell 14.2%. With every distribution reinvested, the fund returned +18.2%. Apple (AAPL) returned +28.3% over the same days, so a holder was behind by 10.1 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 20.9%, paid weekly.

MSTY

Over the year to Oct 28, 2026, MSTY paid 33.4% of its starting value in cash distributions while its price fell 75.2%. With every distribution reinvested, the fund returned −43.4%. MicroStrategy (MSTR) returned −49.0% over the same days, so a holder was ahead by 5.6 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 60.3%, paid weekly. YieldMax estimates that 14% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, APLY or MSTY?: Over the year to Oct 28, 2026, APLY paid 28.6% of its starting price in cash and MSTY paid 33.4%, so MSTY paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, APLY or MSTY?: With every distribution reinvested, APLY returned +18.2% and MSTY −43.4% over the year to Oct 28, 2026.
Which is cheaper, APLY or MSTY?: APLY charges 1.04% a year and MSTY charges 0.99%, so MSTY is cheaper. Fees come from each fund's prospectus.

Other comparisons

APLY vs RYLD APLY vs NVDY APLY vs FEPI APLY vs TSLY MSTY vs RYLD MSTY vs NVDY MSTY vs MSST MSTY vs GPIQ

Where to next

APLY on its own →MSTY on its own →APLY dividend history →APLY holdings →MSTY dividend history →MSTY holdings →Method →Standards and sources →

Sources and dates

APLY and MSTY filings on SEC EDGAR ↗

APLY prospectus with the expense ratio (SEC) ↗

APLY 19a-1 distribution notice ↗

YieldMax page for APLY ↗

MSTY prospectus with the expense ratio (SEC) ↗

MSTY 19a-1 distribution notice ↗

YieldMax page for MSTY ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, APLY against MSTY, data as of Oct 28, 2026. https://etfiq.com/compare/income/aply-vs-msty

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