Which paid more, CONY or MSTY?

Over the year to Oct 28, 2026, CONY paid 32.2% 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, CONY or MSTY?

With every distribution reinvested, CONY returned −46.4% and MSTY −43.4% over the year to Oct 28, 2026.

Which is cheaper, CONY or MSTY?

CONY 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

CONY 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 CONY’s 32.2%, and returned more with it reinvested.

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Net assets on Oct 27, 2026: $339m for YieldMax COIN Option Income Strategy ETF and $1.0bn for YieldMax MSTR Option Income Strategy ETF.

CONY on its own →MSTY on its own →

At a glance

32.2%

CONY cash paid, 1 year

33.4%

MSTY cash paid, 1 year

−46.4%

CONY total return, 1 year

−43.4%

MSTY total return, 1 year

CONY · 1 year to Oct 28, 2026 7.9 pts ahead of COIN

CONY

−46.4%

COIN

−54.3%

7.9 pts ahead of COIN

CONY over 1 year: paid 32.2%, price −73.9%, total −46.4%, COIN −54.3%, +7.9 pts. Data to Oct 28, 2026.

COIN

−54.3%

CONY

−46.4%

7.9 pts ahead of COIN

Total return, distributions reinvested

7.9 pts ahead of COIN

CONY over 1 year: paid 32.2%, price −73.9%, total −46.4%, COIN −54.3%, +7.9 pts. Data to Oct 28, 2026.

COIN

−54.3%

CONY

−46.4%

7.9 pts ahead of COIN

32.2% of it arrived as cash. Total return, distributions reinvested. CONY over 1 year: paid 32.2%, price −73.9%, total −46.4%, COIN −54.3%, +7.9 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 3.0 points; MSTY is 2.9 times larger.

Points (pts) are percentage points.

CONY vs MSTY: Dividend Yield & Total Return
Measure	CONY	MSTY
Paid and earned
Measure	CONY	MSTY
Total return, 1 year	−46.4%	−43.4%
Price change, 1 year	fell 73.9%	fell 75.2%
Return of capital, issuer estimate	21% of the Oct 30, 2026 payment	14% of the Oct 30, 2026 payment
Against its benchmark
Measure	CONY	MSTY
Benchmark	Coinbase (COIN)	MicroStrategy (MSTR)
Cost and size
Measure	CONY	MSTY
Expense ratio	1.04%	0.99%
Net assets, as of Oct 27, 2026	$339m	$1.0bn
Holdings
Measure	CONY	MSTY
Holdings in common	25%

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

IQ Income Score16.9CONY19.6MSTY

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

CONY 16.9

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

CONY MSTY

Return

Total return edge MSTY −27.0% +36.1%

Annualized edge MSTY −11.2% +12.3%

Price return edge MSTY (slight) −93.0% −89.1%

Risk

Volatility edge CONY (slight) 59.8% 61.8%

Max drawdown edge CONY −60.8% −76.2%

Downside capture 97.3% 97.2%

Beta 0.74 0.73

Risk-adjusted

Sharpe edge MSTY 0.02 0.42

Sortino edge MSTY 0.03 0.65

Treynor 0.315 0.358

Calmar edge MSTY −0.18 0.16

Against the benchmark

Alpha −13.1% a year −2.3% a year

Alpha t-stat −1.62 −0.23

Information ratio −1.04 −0.47

Tracking error 25.2% 27.4%

Each against its own benchmark: CONY against COIN, Aug 25, 2023 to Oct 23, 2026; MSTY against MSTR, Mar 1, 2024 to Oct 23, 2026.

Reading

MSTY returned more: +36.1% to −27.0%. CONY swung slightly less: 59.8% to 61.8%. CONY fell less at its worst: −60.8% to −76.2%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: CONY vs MSTY: Dividend Yield & Total Return
Measure	CONY	MSTY	Edge	How it is measured
Return
Total return	−27.0%	+36.1%	MSTY	Price change plus distributions, reinvested.
Annualized	−11.2%	+12.3%	MSTY	Total return as a yearly rate.
Price return	−93.0%	−89.1%	MSTY (slight)	Price change alone, distributions left out.
Risk
Volatility	59.8%	61.8%	CONY (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	39.1%	40.0%	CONY (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−60.8%	−76.2%	CONY	Deepest fall from a high to the low after it.
Upside capture	33.2%	35.5%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	97.3%	97.2%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.74	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	0.02	0.42	MSTY	Return above Treasury bills per unit of volatility.
Sortino	0.03	0.65	MSTY	Return above Treasury bills per unit of downside deviation.
Treynor	0.315	0.358		Return above Treasury bills per unit of beta.
Calmar	−0.18	0.16	MSTY	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	COIN	MSTR		The ETF each fund is measured against.
Alpha	−13.1% a year	−2.3% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−1.62	−0.23	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−29.1% to +2.8%	−21.9% to +17.3%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−1.04	−0.47		Return against its benchmark per unit of tracking error.
Tracking error	25.2%	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

25%

By the books each fund has filed, CONY and MSTY hold 25% of their money in the same securities at the same weight. Holdings dated Oct 28, 2026.

50%

0 half 100%

half

25% in common

Positions both hold · largest shared weight first CONY MSTY

United States Treasury Note/Bond 2.375% 05/15/2027 27.08% 18.81%

United States Treasury Note/Bond 3.375% 09/15/2027 15.23% 5.96%

Only in one fund ↓

Only in CONY

COIN US 11/20/26 C170 3.18%

COIN US 12/18/26 C185 2.34%

COIN US 10/30/26 C180 0.50%

COIN US 10/30/26 C177.5 0.19%

COIN US 10/30/26 C182.5 0.13%

COIN US 10/30/26 C185 0.04%

COIN US 10/30/26 C167.5 -0.01%

COIN US 10/30/26 C175 -0.26%

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

CONY YieldMax COIN Option Income Strategy ETF · Synthetic covered call on COIN, 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 Coinbase (COIN) MicroStrategy (MSTR)

Pays weekly weekly

Payout rate, annualized 58.5% 60.3%

Expense ratio 1.04% 0.99%

Cash paid, 1 year 32.2% 33.4%

Price change, 1 year −73.9% −75.2%

Total return, 1 year −46.4% −43.4%

Benchmark return, 1 year −54.3% −49.0%

Ahead or behind +7.9 pts +5.6 pts

Return of capital, latest estimate 21% 14%

Age 3.2 years 2.7 years

Net assets, as of Oct 27, 2026 $339m $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: CONY vs MSTY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	CONY	MSTY	CONY	MSTY	CONY	MSTY
3 months	+4.5%	+42.2%	17.6%	25.1%	+3.1 pts	−13.3 pts
6 months	−5.0%	−9.7%	30.0%	28.9%	+5.7 pts	−1.4 pts
1 year	−46.4%	−43.4%	32.2%	33.4%	+7.9 pts	+5.6 pts
3 years	+33.8%	–	180.5%	–	−95.5 pts	–
Since launchNot the same days: CONY Aug 2023 · MSTY Feb 2024	+30.9%	+69.4%	172.2%	224.6%	−74.1 pts	−34.2 pts

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

Client brief · page 1 of 2 Report BR-DD3CB0A583

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

What each is measured against. CONY is measured against Coinbase (COIN) and MSTY against MicroStrategy (MSTR).
Holdings in common. 25% of the weight is in the same securities (holdings dated Oct 28, 2026).
One-year total return. Over 1 year to Oct 28, 2026 CONY returned −46.4% and MSTY −43.4% with distributions reinvested, a gap of 3.0 points.

Data as of Oct 28, 2026.

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About each fund

CONY

Over the year to Oct 28, 2026, CONY paid 32.2% of its starting value in cash distributions while its price fell 73.9%. With every distribution reinvested, the fund returned −46.4%. Coinbase (COIN) returned −54.3% over the same days, so a holder was ahead by 7.9 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 58.5%, paid weekly. YieldMax estimates that 21% 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.

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).

Questions people ask

Which paid more, CONY or MSTY?: Over the year to Oct 28, 2026, CONY paid 32.2% 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, CONY or MSTY?: With every distribution reinvested, CONY returned −46.4% and MSTY −43.4% over the year to Oct 28, 2026.
Which is cheaper, CONY or MSTY?: CONY charges 1.04% a year and MSTY charges 0.99%, so MSTY is cheaper. Fees come from each fund's prospectus.

Other comparisons

CONY vs RYLD CONY vs NVDY CONY vs MSFO CONY vs FEPI MSTY vs YMAX MSTY vs ULTY MSTY vs TSLY MSTY vs FEPI

Where to next

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

Sources and dates

CONY and MSTY filings on SEC EDGAR ↗

CONY prospectus with the expense ratio (SEC) ↗

CONY 19a-1 distribution notice ↗

YieldMax page for CONY ↗

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

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