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.
MRNA has outpaced MRNY over the shared window since Oct 2023, posting a 40.15% total return against 21.11%. 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 16, 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 Oct 2023” measures every fund from October 24, 2023 — 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 shared window since Oct 2023. 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 shared window since Oct 2023) — 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
MRNA
MRNY
Forward distribution rate
—
42.75%
Trailing 12-month yield
—
42.75%
30-day SEC yield
—
0.68%
Return of capital
—
99.42%
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.
Not a distribution payer
MRNA (Moderna Inc.) has no distribution rate on file and its distribution frequency is None. MRNA is not a payer. The blank yield is not a zero yield.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
YieldMax MRNA Option Income Strategy ETF seeks current income while providing indirect exposure to the share price returns of Moderna, Inc. common stock, subject to a limit on potential investment gains. The fund does not invest directly in Moderna, Inc.; it uses a synthetic covered call strategy built from standardized exchange-traded options.
Bottom lineChoose MRNA if you want direct ownership of the underlying business, with no fund wrapper or management fee. Choose MRNY if you want to maximize current income — roughly 42.75%, generated by selling options premium. There's no free lunch: MRNY's payout comes from selling options, which caps upside and can erode the share price over time, while MRNA keeps full price exposure.
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. MRNY generates 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 MRNY.
MRNA (Moderna Inc.) is a stock, while MRNY (YieldMax MRNA Option Income Strategy ETF) is an ETF — their trading structures differ.
MRNY currently shows a 42.75% distribution yield. MRNA has not yet established a full distribution history, so a comparable yield figure is not available.
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On a $10,000 investment, MRNA has no reported distribution yield yet, so a cash estimate is not available, while MRNY would produce $82.21 cash per distribution, at current distribution rates.
MRNA yield—
MRNY yield42.75%
Cost & efficiency
MRNY charges a 1.00% expense ratio — roughly $1,000 over 10 years on $10,000 (simplified, not compounded). MRNA is a stock, not a fund, so it charges no expense ratio.
MRNY ER1.00%
Strategy & risk
MRNA is a stock built around healthcare exposure, while MRNY tracks Moderna (MRNA) with a covered call approach.
MRNA beta1.095
MRNY beta—
Security details
MRNA (Moderna Inc.) is a stock. MRNY is managed by YieldMax (launched 10/23/2023) with $243M in assets.
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Frequently asked questions
Which of MRNA or MRNY pays more dividend income?
MRNY currently reports a distribution yield, while MRNA has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.
What is the difference between MRNA and MRNY?
MRNA (Moderna Inc.) is a stock built around healthcare exposure, while MRNY (YieldMax MRNA Option Income Strategy ETF) tracks Moderna (MRNA) with a covered call approach. They are issued by — and YieldMax respectively.
Can I hold both MRNA and MRNY?
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.
Which has lower fees, MRNA or MRNY?
MRNY charges a 1.00% expense ratio. MRNA is a stock, not a fund, so it has no expense ratio — owning it directly costs nothing in ongoing fund fees.
How much income does $10,000 in MRNA vs MRNY generate?
At current rates, MRNA does not pay distributions, so there is no cash income to estimate. The same in MRNY would produce about $82.21 cash per distribution ($4,275.00 annually).
Which has performed better historically, MRNA or MRNY?
MRNA has outpaced MRNY over the shared window since Oct 2023, posting a 40.15% total return against 21.11%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
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MRNA is a stock—the common equity of Moderna Inc., a biotechnology company focused on mRNA-based therapeutics and vaccines. The two represent fundamentally different ways to gain exposure to the same underlying company.
How they differ
The biggest difference is structure and income. That income comes with a hard cap on capital appreciation—if Moderna rallies past the strike price, your gain is frozen. MRNA trades at $218.01 per share; MRNY trades at $42.00 with an expense ratio of 1.00% and $243M in assets. MRNY was incepted on 10/23/2023, while MRNA went public on 12/07/2018.
Who each is best for
MRNA: Fits investors who believe in Moderna's long-term growth potential and are willing to forgo current income in exchange for unlimited upside if the stock rallies significantly. Suits those with a multi-year horizon who want direct equity participation without the income-capping mechanics of options strategies.
MRNY: Fits investors who prioritize near-term cash flow over capital appreciation and accept that meaningful gains in Moderna above the strike price will be capped. Designed for those comfortable with options complexity and weekly distribution schedules who view Moderna as range-bound or who want steady income more than growth.
Key risks to know
NAV erosion at extreme yields: A 42.75% annualized distribution rate will erode NAV over time unless Moderna's underlying options position generates sufficient premium to sustain it. At this yield level, the fund is likely selling near-the-money or in-the-money calls repeatedly, which limits upside capture and creates structural headwind for long-term capital preservation.
Call strike cap:MRNY's gains are capped at the option strike price. If Moderna rallies sharply, MRNY holders miss the full move while MRNA shareholders capture it in full. The opportunity cost can be substantial in strong bull markets.
Options assignment and rollover risk: Weekly call selling requires continuous management and rolling of expiring options. If assignment occurs or market conditions shift, the fund may be forced to roll at unfavorable prices or face gaps in execution. Illiquidity or wide bid-ask spreads in the underlying options could degrade returns.
Concentration and sector risk: Both securities expose you entirely to one company in a capital-intensive, regulatory-dependent biotech sector. Moderna's pipeline, clinical trial outcomes, and competitive position drive returns; there is no diversification within either holding.
Volatility in biotech equity:MRNA has a beta of 1.095, indicating elevated sensitivity to market swings. The tradeoff is capital appreciation potential versus current cash flow—weigh your time horizon and income need accordingly. Past performance does not predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
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