Data as of Oct 28, 2026.
MSTY vs ULTY: Dividend Yield & Total Return
Over the year to Oct 28, 2026, ULTY paid 44.3% of its price in cash against MSTY’s 33.4%, and returned more with it reinvested.
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Net assets on Oct 27, 2026: $1.0bn for YieldMax MSTR Option Income Strategy ETF and $627m for YieldMax Ultra Option Income Strategy ETF.
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. Total return, distributions reinvested. 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, 2026.4.1 pts ahead of its own holdings
ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
its own holdings
−15.3%
ULTY
−11.2%
4.1 pts ahead of its own holdings
Total return, distributions reinvested
4.1 pts ahead of its own holdings
ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
its own holdings
−15.3%
ULTY
−11.2%
4.1 pts ahead of its own holdings
44.3% of it arrived as cash. Both charts share one scale, with zero at the line. ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.Pair scorecard
MSTY costs 0.31 points a year less; their one-year returns differ by 32.2 points; MSTY is 1.6 times larger.
Points (pts) are percentage points.
| Measure | MSTY | ULTY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | −43.4% | −11.2% |
| Price change, 1 year | fell 75.2% | fell 55.2% |
| Return of capital, issuer estimate | 14% of the Oct 30, 2026 payment | 100% of the Oct 29, 2026 payment |
| Against its benchmark | ||
| Benchmark | MicroStrategy (MSTR) | its own holdings |
| Cost and size | ||
| Expense ratio | 0.99% | 1.30% |
| Net assets, as of Oct 27, 2026 | $1.0bn | $627m |
| Holdings | ||
| Holdings in common | 0% | |
MSTY among the 74 income ETFs writing on a single company
How much of its payouts the fund's total return covered, ranked against 74 income ETFs writing on a single company and 164 income ETFs not writing on a single company. 100 is best. How it is computed
ULTY among the 164 income ETFs not writing on a single company
A percentile among the 74 income ETFs writing on a single company. ULTY is a percentile among the 164 income ETFs not writing on a single company, a different set, so the two marks are not on one scale. 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 8, 2024 to Oct 23, 2026 · 137 weekly returnsMSTY returned more: +4.3% to −0.3%. ULTY swung less: 24.1% to 59.2%. ULTY fell less at its worst: −25.9% to −76.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | MSTY | ULTY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +4.3% | −0.3% | MSTY | Price change plus distributions, reinvested. |
| Annualized | +1.6% | −0.1% | MSTY | Total return as a yearly rate. |
| Price return | −91.6% | −88.7% | ULTY (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 59.2% | 24.1% | ULTY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 40.2% | 18.4% | ULTY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −76.2% | −25.9% | ULTY | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.25 | −0.06 | MSTY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.37 | −0.08 | MSTY | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.02 | 0.00 | MSTY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 137 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, MSTY and ULTY hold 0% of their money in the same securities at the same weight. Holdings dated Oct 28, 2026.
half
0% in common
Only in one fund ↓
Side by side
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
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | MSTY | ULTY | MSTY | ULTY | MSTY | ULTY |
| 3 months | +42.2% | +4.2% | 25.1% | 15.4% | −13.3 pts | −9.8 pts |
| 6 months | −9.7% | +1.0% | 28.9% | 28.1% | −1.4 pts | −6.6 pts |
| 1 year | −43.4% | −11.2% | 33.4% | 44.3% | +5.6 pts | +4.1 pts |
| Since launchNot the same days: MSTY Feb 2024 · ULTY Feb 2024 | +69.4% | +4.4% | 224.6% | 87.8% | −34.2 pts | not measured |
MSTY and ULTY are built for the same job. How do they differ in cost, holdings and results?
- Income paid. MSTY paid 33.4% and ULTY 44.3% (cash paid over 1 year, as a share of its price at the start), a gap of 10.9 points.
- What each is measured against. MSTY is measured against MicroStrategy (MSTR) and ULTY against its own holdings.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 28, 2026).
Data as of Oct 28, 2026.
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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.
ULTY
Over the year to Oct 28, 2026, ULTY paid 44.3% of its starting value in cash distributions while its price fell 55.2%. With every distribution reinvested, the fund returned −11.2%. ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 26, 2026) returned −15.3% over the same days, so a holder was ahead by 4.1 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 60.7%, paid weekly. YieldMax estimates that 100% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
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.
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ETFIQ, MSTY against ULTY, data as of Oct 28, 2026. https://etfiq.com/compare/income/msty-vs-ulty
ETFIQ. (Oct 28, 2026). MSTY against ULTY. Retrieved from https://etfiq.com/compare/income/msty-vs-ulty
[MSTY against ULTY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/income/msty-vs-ulty)
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