CONY
Price
$20.68
Change
-$0.62 (-2.91%)
Updated
Sep 4 closing price
Net Assets
374.52M
Intraday BUY SELL Signals
MSTY
Price
$16.06
Change
-$0.23 (-1.41%)
Updated
Sep 4 closing price
Net Assets
1.03B
Intraday BUY SELL Signals
YMAX
Price
$7.69
Change
-$0.00 (-0.00%)
Updated
Sep 4 closing price
Net Assets
383.65M
Intraday BUY SELL Signals
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CONY or MSTY or YMAX

CONY vs MSTY vs YMAX Comparison Chart in %
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A.I.Advisor
Sep 03, 2026

Which ETF would AI Choose? YieldMax COIN Option Income Strategy ETF (CONY) vs. YieldMax MSTR Option Income Strategy ETF (MSTY) vs. YieldMax Universe Fund of Option Income ETFs (YMAX)

Key Takeaways

  • CONY and MSTY employ single-issuer synthetic covered call strategies targeting high-volatility names Coinbase Global Inc. (COIN) and MicroStrategy Incorporated (MSTR), respectively, while YMAX operates as a fund-of-funds allocating across multiple YieldMax option income ETFs.
  • All three ETFs prioritize current income generation through options premiums, with secondary objectives of capped exposure to underlying price movements, resulting in elevated expense ratios relative to broad-market funds.
  • CONY and MSTY exhibit concentrated single-stock risk and higher potential volatility tied to cryptocurrency-related equities, whereas YMAX provides broader diversification across multiple underlying strategies.
  • Expense ratios stand at approximately 1.04% for CONY, 1.03% for MSTY, and 1.33% for YMAX, reflecting active management and options-based structures.
  • YMAX’s monthly rebalancing across the YieldMax universe introduces a momentum-driven allocation layer absent in the single-issuer peers.
  • Performance differentials in recent market cycles stem primarily from concentration levels and underlying asset volatility rather than broad equity market beta.

Introduction

YieldMax COIN Option Income Strategy ETF (CONY), YieldMax MSTR Option Income Strategy ETF (MSTY), and YieldMax Universe Fund of Option Income ETFs (YMAX) represent distinct approaches within the derivative income category. CONY and MSTY focus on individual high-volatility technology and financial names linked to cryptocurrency exposure, while YMAX aggregates multiple YieldMax option income vehicles into a single portfolio. These ETFs appeal to income-oriented investors seeking elevated yields through options strategies, though they differ in diversification, risk concentration, and structural complexity within the current environment of elevated interest rates and sector-specific volatility.

YieldMax COIN Option Income Strategy ETF (CONY) Overview

CONY is an actively managed exchange-traded fund that seeks current income as its primary objective, with secondary exposure to the share price of Coinbase Global Inc. (COIN), subject to limits on gains. The fund employs a synthetic covered call or call spread strategy using options on COIN, collateralized primarily by U.S. Treasury bills. It holds approximately 23 positions, with significant allocations to short-term Treasuries and options overlays. The gross expense ratio is 1.04%. Key distinguishing features include its non-diversified structure and explicit single-issuer focus on COIN, without direct equity ownership.

YieldMax MSTR Option Income Strategy ETF (MSTY) Overview

MSTY is an actively managed exchange-traded fund whose primary goal is current income, paired with secondary exposure to MicroStrategy Incorporated (MSTR) share price movements, capped via options. It utilizes a synthetic covered call strategy involving exchange-traded and FLEX options on MSTR, supported by Treasury collateral. The fund maintains around 24 holdings, dominated by short-term U.S. Treasuries and options positions. The net expense ratio is 1.03%. Distinguishing characteristics encompass its non-diversified mandate and exclusive focus on MSTR’s volatility profile.

YieldMax Universe Fund of Option Income ETFs (YMAX) Overview

YMAX functions as an actively managed fund-of-funds that invests primarily in other YieldMax option income ETFs, aiming for current income with allocations guided by positive momentum methodology. The portfolio is rebalanced monthly and may include single-stock, portfolio, or ultra strategies from the YieldMax lineup. It holds approximately 17 underlying ETFs. The gross expense ratio is 1.33%, incorporating a management fee of 0.29%. Notable features include its diversified exposure across multiple underlying vehicles and weekly income distribution potential.

Industry and Thematic Landscape

These ETFs operate within the derivative income segment, capitalizing on options premiums from volatile individual equities in technology, financials, and software sectors. Macroeconomic drivers include interest rate environments influencing Treasury collateral yields, cryptocurrency market cycles affecting COIN and MSTR fundamentals, and broader equity volatility supporting elevated option premiums. Regulatory developments around digital assets and corporate treasury strategies involving Bitcoin holdings influence sentiment. Earnings trends at major underlying holdings and sector-specific risks, such as regulatory scrutiny in crypto and fintech, shape the external backdrop for capital flows into income-generating strategies.

Performance and Positioning Comparison

In recent weeks and months, structural differences have driven relative behavior. CONY and MSTY have displayed higher sensitivity to movements in their respective single issuers, leading to greater volatility and potential drawdowns during adverse crypto-related cycles. YMAX’s multi-fund allocation has moderated concentration risk, resulting in more stable trend consistency across market cycles. Performance gaps arise from exposure breadth: single-name concentration amplifies upside capture in favorable periods but heightens downside risk, while YMAX’s momentum-based rebalancing offers relative resilience. All three exhibit limited correlation to broad equity benchmarks due to their options overlays and income focus.

AI Screener

Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. AI Screener

Tickeron AI Verdict

Based on observable structural characteristics, YMAX demonstrates advantages in diversification depth and risk-adjusted positioning through its fund-of-funds construction and momentum allocation, potentially offering more stable income generation across varied market environments compared with the concentrated profiles of CONY and MSTY. CONY and MSTY provide targeted exposure suited to investors with high conviction in specific volatile names, though at the cost of elevated single-issuer risk. Probabilistic assessment favors YMAX for balanced efficiency in the current thematic landscape.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations

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SUMMARIES
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FUNDAMENTALS
Fundamentals
MSTY has more net assets: 1.03B vs. YMAX (384M) and CONY (375M). YMAX has a higher annual dividend yield than MSTY and CONY: YMAX (7.353) vs MSTY (-6.617) and CONY (-14.682). CONY was incepted earlier than MSTY and YMAX: CONY (3 years) vs MSTY (3 years) and YMAX (3 years). MSTY (1.03) and CONY (1.04) has a lower expense ratio than YMAX (1.33).
CONYMSTYYMAX
Gain YTD-14.682-6.6177.353
Net Assets375M1.03B384M
Total Expense Ratio1.041.031.33
Turnover31.00N/A76.00
Yield38.6834.6842.93
Fund Existence3 years3 years3 years
TECHNICAL ANALYSIS
Technical Analysis
CONYMSTYYMAX
RSI
ODDS (%)
Bearish Trend 2 days ago
90%
Bearish Trend 2 days ago
90%
N/A
Stochastic
ODDS (%)
Bearish Trend 2 days ago
90%
Bearish Trend 2 days ago
89%
Bullish Trend 2 days ago
77%
Momentum
ODDS (%)
Bearish Trend 2 days ago
90%
Bullish Trend 2 days ago
90%
Bullish Trend 2 days ago
85%
MACD
ODDS (%)
Bullish Trend 2 days ago
90%
N/A
Bullish Trend 2 days ago
82%
TrendWeek
ODDS (%)
Bullish Trend 2 days ago
90%
Bullish Trend 2 days ago
90%
Bullish Trend 2 days ago
86%
TrendMonth
ODDS (%)
Bullish Trend 2 days ago
90%
Bullish Trend 2 days ago
90%
Bullish Trend 2 days ago
86%
Advances
ODDS (%)
Bullish Trend 16 days ago
90%
Bullish Trend 12 days ago
90%
Bullish Trend 10 days ago
86%
Declines
ODDS (%)
Bearish Trend 4 days ago
90%
Bearish Trend 4 days ago
90%
Bearish Trend 4 days ago
77%
BollingerBands
ODDS (%)
Bearish Trend 2 days ago
90%
Bearish Trend 2 days ago
90%
Bearish Trend 2 days ago
77%
Aroon
ODDS (%)
Bullish Trend 2 days ago
90%
Bullish Trend 2 days ago
86%
Bullish Trend 2 days ago
86%
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MSTY
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YMAX
Daily Signal:
Gain/Loss:
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