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ETF Comparison

MSTY vs YBIT: Which Is the Better Pick in 2026?

A head-to-head comparison of YieldMax MSTR Option Income Strategy ETF and YieldMax Bitcoin Option Income Strategy ETF covering yield, cost, risk, and income potential.

Data updated September 18, 2026

Best for

  • MSTYInvestors who want to maximize current income — roughly 75.73%, generated by selling options premium.
  • YBITInvestors who want crypto exposure that pays you along the way, not just price gains.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

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.

MSTY has lagged YBIT over the trailing twelve months, posting a -49.43% total return against -28.23%. Measured from Apr 2024 — the start of shared available history — MSTY has compounded at -0.52% a year versus -5.14% for YBIT. YBIT has been the steadier holding, though — annualized volatility of 38.0% against 69.5% for MSTY. 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.
SymbolYTD1YSince Apr 2024Volatility Sharpe Sortino Max drawdown
MSTY-3.10%-49.43%-0.52%69.5%-1.05-1.45-71.9%
YBIT-11.14%-28.23%-5.14%38.0%-0.99-1.31-47.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Apr 2024” measures every fund from April 23, 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricMSTYYBIT
Full nameYieldMax MSTR Option Income Strategy ETFYieldMax Bitcoin Option Income Strategy ETF
IssuerYieldMaxYieldMax
Underlying indexStrategy (MSTR)Bitcoin
Last Close$16.48 as of September 18, 2026$20.84 as of September 18, 2026
Distribution rate75.73%67.86%
Distribution Safety Score™ 5967
Safety-Adjusted Yield 44.68%45.47%
Expense ratio1.03%1.02%
AUM$959M$46.1M
Distribution frequencyWeeklyWeekly
ObjectiveActively 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.Actively managed fund that seeks weekly income while providing indirect exposure to the share price of U.S.-listed bitcoin exchange-traded products, subject to a limit on potential gains.
Asset classEquityEquity
Inception date02/21/202404/22/2024
Beta2.56041.5424
Last dividend$0.24 payable today$0.272 payable today
Ex-dividend date09/17/202609/17/2026

Bottom lineChoose MSTY if you want to maximize current income — roughly 75.73%, generated by selling options premium. Choose YBIT if you want crypto exposure that pays you along the way, not just price gains. MSTY and YBIT 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.

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. MSTY and YBIT 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.
  • Crypto volatility. YBIT sits on top of crypto-asset prices, which routinely swing far more than equities. A single drawdown can exceed a year of distributions, so income projections deserve extra skepticism here.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

YieldMax
ETFs61
Total AUM$9.59B

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 MSTY and YBIT.

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Quick verdict

MSTY (YieldMax MSTR Option Income Strategy ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both weekly-pay dividend ETFs, but they take different approaches.

MSTY offers the higher yield at 75.73% vs 67.86% for YBIT. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

YBIT is cheaper with an expense ratio of 1.02% compared to 1.03%.

They have different reference exposures: MSTY is linked to Strategy (MSTR) while YBIT is linked to Bitcoin, which means their performance drivers differ.

MSTY is the larger fund by assets ($959M), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose MSTY

YieldMax MSTR Option Income Strategy ETF

  • Want to maximize current income — MSTY distributes roughly 75.73% from selling options premium, vs 67.86% for YBIT.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Choose YBIT

YieldMax Bitcoin Option Income Strategy ETF

  • Want crypto exposure that pays income rather than waiting on price alone.
  • Want to keep costs low — a 1.02% expense ratio vs 1.03% for MSTY.
  • Prefer lower volatility — a beta of 1.5 vs 2.6 for MSTY.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, MSTY would generate roughly $631.08/month, while YBIT would produce $565.50/month, at current distribution rates. Both pay weekly distributions.

MSTY yield75.73%
YBIT yield67.86%
Monthly diff on $10K$65.58

Cost & efficiency

Over 10 years on $10,000, MSTY would cost approximately $1,030 in fees vs $1,020 for YBIT (simplified, not compounded). The $10.00 difference may be offset by yield or performance.

MSTY ER1.03%
YBIT ER1.02%

Strategy & risk

MSTY is actively managed around Strategy (MSTR) exposure with a crypto approach, while YBIT is actively managed around Bitcoin exposure with a covered call approach. Beta is 2.5604 for MSTY and 1.5424 for YBIT, making YBIT the less volatile of the two by this measure.

MSTY beta2.5604
YBIT beta1.5424

Fund details

MSTY is managed by YieldMax (launched 02/21/2024) with $959M in assets. YBIT is managed by YieldMax (launched 04/22/2024) with $46.1M in assets.

MSTY AUM$959M
YBIT AUM$46.1M
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Frequently asked questions

What is the current distribution rate for MSTY and YBIT?

MSTY currently distributes 75.73% and YBIT 67.86%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is MSTY or YBIT 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.

What is the difference between MSTY and YBIT?

MSTY (YieldMax MSTR Option Income Strategy ETF) is actively managed around Strategy (MSTR) exposure with a crypto approach, while YBIT (YieldMax Bitcoin Option Income Strategy ETF) is actively managed around Bitcoin exposure with a covered call approach. They are issued by YieldMax and YieldMax respectively.

Can I hold both MSTY and YBIT?

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 MSTY or YBIT safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — YBIT scores 67, MSTY scores 59, so YBIT's payout currently looks the more resilient of the two. YBIT has also shown lower price volatility (beta 1.54 vs 2.56 for MSTY). 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, MSTY or YBIT?

MSTY has an expense ratio of 1.03% while YBIT charges 1.02%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in MSTY vs YBIT generate?

At current rates, $10,000 in MSTY would generate roughly $631.08 per month ($7,573.00 annually). The same in YBIT would produce about $565.50 per month ($6,786.00 annually).

Which has performed better historically, MSTY or YBIT?

MSTY has lagged YBIT over the trailing twelve months, posting a -49.43% total return against -28.23%. Measured from Apr 2024 — the start of shared available history — MSTY has compounded at -0.52% a year versus -5.14% for YBIT. YBIT has been the steadier holding, though — annualized volatility of 38.0% against 69.5% for MSTY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

MSTY vs YBIT — at a glance

Generated September 19, 2026.

Overview

MSTY and YBIT are both actively managed ETFs using covered call overlays to generate weekly income from concentrated crypto exposures. YBIT bypasses the corporate entity and targets Bitcoin ETPs directly, eliminating company-specific operational and balance-sheet risk. That structural difference shows up in beta: MSTY carries a 2.5604 beta versus YBIT's 1.5424, reflecting MicroStrategy's leverage embedded in its business model.

Distribution yields are close—75.73% for MSTY, 67.86% for YBIT—but MSTY's higher payout is traded against steeper NAV erosion risk given the magnitude of that yield relative to underlying asset returns. Expense ratios are nearly identical (1.03% and 1.02%), so fees won't differentiate them.

  • YBIT: Fits investors who want weekly Bitcoin income without company-specific risk, preferring a cleaner, less leveraged path to digital-asset income generation tied directly to Bitcoin's price action.

Key risks to know

  • NAV erosion at ultra-high yields. Both funds distribute yields well above typical market returns.
  • Capped upside from covered calls. Both overlay short calls to generate income, which caps appreciation if Bitcoin or MicroStrategy rally sharply. Investors forgo gains beyond the strike price—a meaningful drag in bull markets. If the company faces margin pressure, refinancing stress, or operational headwinds, the stock can underperform Bitcoin itself, even as the covered call caps recovery.
  • Crypto volatility and options decay. Both are levered to Bitcoin's price swings. When volatility spikes, call premiums widen (good for income), but when volatility contracts, premium income declines and call assignment risk falls—forcing portfolio adjustments at unfavorable times.

Bottom line

If you prioritize maximum income and tolerate MicroStrategy's corporate and leverage overlay, MSTY offers a more established, well-capitalized vehicle with significantly higher AUM. If you want Bitcoin income without corporate debt and business risk, YBIT provides a leaner structure—though at a cost of much smaller scale and potential liquidity friction. Both carry the same core tradeoff: exceptional yield in exchange for capped upside and NAV pressure if crypto consolidates. 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.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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