Alternatives
Best MSTY Alternatives in 2026
Top single-stock and crypto option-income ETFs to consider alongside or instead of YieldMax MSTR Option Income (MSTY).
Data updated August 2026 · 12 ETFs
Who this page is for
Best for
- MSTY holders who want to diversify away from single-stock (MSTR) concentration risk
- High-yield seekers comfortable with extreme volatility and NAV erosion
- Investors treating option-income ETFs as a small, actively-monitored satellite sleeve
Not a fit for
- Conservative or income-dependent investors — these funds can erode principal fast
- Anyone who wants the underlying stock's upside; the overlay caps it hard
- Buy-and-forget investors — these require watching NAV trends and return-of-capital levels
Analysis
MSTY is the flagship of YieldMax's single-stock option-income lineup, harvesting the enormous volatility of Strategy (MSTR) into headline yields that can exceed 80%. Those same mechanics power a whole family of alternatives, and the reason to consider them is concentration: MSTY lives and dies with one extraordinarily volatile stock. CONY (Coinbase), NVDY (Nvidia), TSLY (Tesla), and PLTY (Palantir) run the identical strategy on different underliers, letting you spread single-name risk. ULTY and YMAX diversify further by holding baskets of these option-income funds in one ticker. And for the Bitcoin-linked thesis specifically, MAXI, BTCI, and YBIT offer crypto income without betting on a single company's stock. Every fund here shares MSTY's core trade-off — huge distributions funded largely by return of capital, capped upside, and real NAV erosion in a downturn — so the headline yield is never the whole story. Judge them on total return, and size any position as a small, closely-watched sleeve.
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How these alternatives are selected
- Universe: a hand-curated peer set of same-strategy funds, maintained editorially so an off-strategy fund never appears; MSTY itself is excluded.
- Eligibility: active ETFs only — liquidated, delisted, and renamed funds drop out automatically.
- Ranking: assets under management, a size-and-liquidity proxy. Never ranked by yield — yields are shown as data, not used to order the list.
- Fit: how each fund's strategy differs from MSTY — and who each one suits — is covered in the strategy notes and FAQ below.
Top picks
Top 3 MSTY alternatives by assets under management.
Yield distribution
Expense ratio distribution
Income projection
Estimated income if the current average distribution rate of 49.04% held for a full year with share prices unchanged. Distribution rate is not total return—a fund can pay a large distribution while its share price falls—so treat these as an upper-bound illustration, not a forecast.
| Investment | Annual income | Monthly income | Weekly income |
|---|---|---|---|
| $10,000 | $4,904 | $409 | $94 |
| $25,000 | $12,259 | $1,022 | $236 |
| $50,000 | $24,518 | $2,043 | $472 |
| $100,000 | $49,037 | $4,086 | $943 |
Issuer breakdown
Distribution of ETFs by fund issuer. Larger issuers often offer lower expense ratios and higher liquidity.
All 12 ETFs
| Ticker | Name | Issuer | Yield | Expense ratio | AUM | Frequency |
|---|---|---|---|---|---|---|
| NVDY | YieldMax NVDA Option Income Strategy ETF | YieldMax | 38.80% | 1.01% | $1.4B | Weekly |
| BTCI | NEOS Bitcoin High Income ETF | NEOS | 26.90% | 0.98% | $1.1B | Monthly |
| ULTY | YieldMax Ultra Option Income Strategy ETF | YieldMax | 58.65% | 1.14% | $764M | Weekly |
| TSLY | YieldMax TSLA Option Income Strategy ETF | YieldMax | 55.50% | 1.01% | $642M | Weekly |
| PLTY | YieldMax PLTR Option Income Strategy ETF | YieldMax | 47.60% | 1.07% | $397M | Weekly |
| YMAX | YieldMax Universe Fund of Option Income ETFs | YieldMax | 39.84% | 1.28% | $396M | Weekly |
| CONY | YieldMax COIN Option Income Strategy ETF | YieldMax | 72.20% | 1.01% | $338M | Weekly |
| YMAG | Tidal Trust II - YieldMax Magnificent 7 Fund of Option Income ETFs | YieldMax | 43.11% | 1.28% | $294M | Weekly |
| AMZY | YieldMax AMZN Option Income Strategy ETF | YieldMax | 65.11% | 1.01% | $260M | Weekly |
| SMCY | YieldMax SMCI Option Income Strategy ETF | YieldMax | 90.34% | 1.01% | $112M | Weekly |
| YBIT | YieldMax Bitcoin Option Income Strategy ETF | YieldMax | 46.45% | 0.99% | $48M | Weekly |
| MAXI | Simplify Bitcoin Strategy PLUS Income ETF | Simplify ETFs | 3.94% | 1.31% | $25M | Monthly |
Frequently asked questions
What are the best msty alternatives?
This page lists the top 12 ETFs in this category ranked by key metrics. The list includes funds from issuers like YieldMax, NEOS and more.
How often is this list updated?
The data on this page is refreshed regularly using the latest available distribution rates, expense ratios, and AUM figures. Last updated August 2026.
What is the average yield of these ETFs?
The average distribution yield across the 12 ETFs on this list is 49.04%. Individual yields range from 3.94% to 90.34%.
What is the best alternative to MSTY?
For diversification within the same strategy, CONY, NVDY, and TSLY run MSTY's exact option-income approach on Coinbase, Nvidia, and Tesla. To avoid single-stock risk entirely, ULTY and YMAX hold baskets of these funds, and MAXI or BTCI offer Bitcoin income without tying it to one company's stock.
Why look for an MSTY alternative?
Concentration. MSTY's return depends entirely on one very volatile stock (MSTR), so its NAV can swing violently. Spreading across several single-stock income ETFs — or using a diversified fund-of-funds like YMAX/ULTY — reduces the risk that one company's decline wipes out a large share of your income and principal.
Do MSTY alternatives also erode in value?
Most do. Like MSTY, these funds fund large distributions partly through return of capital and cap the underlying's upside, so their NAV can grind lower over time — especially if the underlying stock falls. A high yield does not offset a declining NAV; always evaluate total return, not the distribution rate alone.
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The metrics and risks behind this list, explained in the Academy.
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