Compare/Updated Oct 26, 2026, refreshed every trading day
ULTY vs MSTY
YieldMax Ultra Option Income Strategy ETF against YieldMax MSTR Option Income Strategy ETF: 3 years of returns, risk and today’s technical read, from Kavout’s own data.
MSTY did better over the period: $1,000 invested on February 29, 2024 grew to $1,381, versus $952 for ULTY. However, MSTY’s higher return came with substantially greater risk. Its 12-month volatility was 70.5% compared with ULTY’s 22.4%, and its worst drawdown was 77.4% versus 29.3% for ULTY. MSTY also charged a lower expense ratio, 0.99% versus 1.40%, while both funds had approximately $1B in assets. Recent performance was mixed: MSTY lost 42.2% over one year and 14.9% over six months, while ULTY lost 9.3% and 3.7%, respectively. Their daily moves had a 0.577 correlation, so they were related but not interchangeable. The result matters because MSTY delivered the stronger cumulative outcome, but ULTY provided materially lower volatility and drawdown risk.
- Price is below its 200-day average ($23); 50-day at $24.
- RSI 30, oversold. Supertrend says sell. ADX 27, so the trend is strong.
- Price is above its 200-day average ($14); 50-day at $14.
- RSI 49, neutral. Supertrend says sell. ADX 23, so the trend is developing.
Head to head
Which has returned more, ULTY or MSTY?
ULTY beat MSTY in 16 of the last 32 months; MSTY won the other 16. The typical monthly gap was 13.84 points.
Total return by period
Which is riskier?
ULTY: Mar 4, 2024 to Apr 8, 2025; MSTY: Jul 16, 2025 to Jun 26, 2026
- 0.577
- correlation of daily moves, 3 years
- 0.22
- ULTY move per 1% in MSTY
- 0.564
- correlation, last 12 months
Month by month
Of the last 32 months. The typical gap was 13.84 points.
When did they diverge?
| Month | ULTY | MSTY | Gap |
|---|---|---|---|
| March 2024 | +1.1% | +70.9% | -69.87 pts |
| June 2026 | -1.9% | -42.0% | +40.12 pts |
| October 2024 | +1.3% | +33.7% | -32.38 pts |
| August 2026 | +5.3% | +32.1% | -26.88 pts |
Where the numbers come from. 666 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with ULTY and MSTY?
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