Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
CONY has outpaced MSTY over the trailing twelve months, posting a -40.99% total return against -46.90%. Measured from Feb 2024 — the start of shared available history — MSTY has compounded at 24.54% a year versus -9.77% for CONY. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Feb 2024” measures every fund from February 22, 2024 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Distribution rate, SEC yield and return of capital
Metric
CONY
MSTY
Forward distribution rate
68.65%
98.88%
Trailing 12-month yield
127.95%
139.76%
30-day SEC yield
2.52%
0.96%
Return of capital
88.09%
98.87%
Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
YieldMax COIN Option Income Strategy ETF seeks current income while providing indirect exposure to the share price returns of Coinbase Global, Inc. common stock, subject to a limit on potential investment gains. The fund does not invest directly in Coinbase Global, Inc.; it uses a synthetic covered call strategy built from standardized exchange-traded options.
Actively managed fund that seeks current income while maintaining indirect exposure to the share price of MicroStrategy Incorporated (MSTR), subject to a limit on potential investment gains.
Bottom lineChoose CONY if you are comfortable trading away most upside for a large, steady payout. Choose MSTY if you want to maximize current income — roughly 98.88%, generated by selling options premium. CONY and MSTY both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.
Coinbase option income versus Strategy option income
CONY writes options on Coinbase. MSTY writes options on Strategy. The stock underneath, not the headline rate, is the split.
CONY
MSTY
Underlying stock
Coinbase (COIN)
Strategy (MSTR)
Expense ratio
1.04%
1.03%
Distribution rate
68.65%
98.88%
Fund size
$392M
$1.13B
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. CONY and MSTY generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.
See our curated list of related YouTube videos on CONY and MSTY.
CONY (YieldMax COIN Option Income Strategy ETF) and MSTY (YieldMax MSTR Option Income Strategy ETF) are both weekly-pay dividend ETFs, but they take different approaches.
MSTY offers the higher yield at 98.88% vs 68.65% for CONY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
MSTY is cheaper with an expense ratio of 1.03% compared to 1.04%.
They have different reference exposures: CONY is linked to Coinbase (COIN) while MSTY is linked to Strategy (MSTR), which means their performance drivers differ.
MSTY is the larger fund by assets ($1.13B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, CONY would generate roughly $132.02 cash per distribution, while MSTY would produce $190.15 cash per distribution, at current distribution rates. Both pay weekly distributions.
CONY yield68.65%
MSTY yield98.88%
Cash diff on $10K$58.13
Cost & efficiency
Over 10 years on $10,000, CONY would cost approximately $1,040 in fees vs $1,030 for MSTY (simplified, not compounded). The $10.00 difference may be offset by yield or performance.
CONY ER1.04%
MSTY ER1.03%
Strategy & risk
CONY uses Coinbase (COIN) as its reference exposure with a covered call approach, while MSTY is actively managed around Strategy (MSTR) exposure with a covered call approach. Beta is 2.83 for CONY and 2.5604 for MSTY, making MSTY the less volatile of the two by this measure.
CONY beta2.83
MSTY beta2.5604
Fund details
CONY is managed by YieldMax (launched 08/14/2023) with $392M in assets. MSTY is managed by YieldMax (launched 02/21/2024) with $1.13B in assets.
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Frequently asked questions
What is the difference between CONY and MSTY?
CONY (YieldMax COIN Option Income Strategy ETF) writes options on Coinbase stock. MSTY (YieldMax MSTR Option Income Strategy ETF) writes options on Strategy stock. Both use synthetic positions, so they track the stock's moves without owning its shares, and both cap the upside they sell. Cost is 1.04% versus 1.03%. Distributions are 68.65% and 98.88% as of October 2026. Compare total return with distributions reinvested: a high rate can come with a falling share price.
What is the current distribution rate for CONY and MSTY?
CONY currently distributes 68.65% and MSTY 98.88%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is CONY or MSTY better for dividend income?
It depends on your goals. MSTY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
Can I hold both CONY and MSTY?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is CONY or MSTY safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — CONY scores 62, MSTY scores 58, so CONY's payout currently looks the more resilient of the two. MSTY has also shown lower price volatility (beta 2.56 vs 2.83 for CONY). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
Which has lower fees, CONY or MSTY?
CONY has an expense ratio of 1.04% while MSTY charges 1.03%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in CONY vs MSTY generate?
At current rates, $10,000 in CONY would generate roughly $132.02 cash per distribution ($6,865.00 annually). The same in MSTY would produce about $190.15 cash per distribution ($9,888.00 annually).
Which has performed better historically, CONY or MSTY?
CONY has outpaced MSTY over the trailing twelve months, posting a -40.99% total return against -46.90%. Measured from Feb 2024 — the start of shared available history — MSTY has compounded at 24.54% a year versus -9.77% for CONY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
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