MRNY vs SPY
YieldMax MRNA Option Income Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MRNY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MRNY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.27% | 0.09% | |
| AUM | $120M | $821.1B | |
| Dividend Yield | 99.96% | 1.01% | |
| Holdings | 18 | 505 | |
| YTD Return | +253.75% | +12.22% | |
| 1Y Return | +277.54% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 91.9% | 15.3% | |
| Max Drawdown | -82.2% | -56.5% | |
| Fund Family | YieldMax ETF | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 23, 2023 | Jan 22, 1993 |
MRNY vs SPY Performance
YieldMax MRNA Option Income Strategy ETF (MRNY) is a ETF from YieldMax ETF and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MRNY returned +277.54% while SPY returned +20.83%. Year to date, MRNY is up 253.75% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
MRNY has been the more volatile fund, with annualized monthly volatility of 91.9% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -82.2% for MRNY and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MRNY charges 1.27% per year while SPY charges 0.09%. On a $10,000 position that is $127 vs $9 annually, a gap of $118 per year that compounds over a long holding period. On income, MRNY currently yields 99.96% against 1.01% for SPY.
Holdings Overlap
MRNY and SPY share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MRNY or SPY?
MRNY has an expense ratio of 1.27% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $118 per year of difference.
Which performed better, MRNY or SPY?
Over the past year MRNY returned +277.54% vs +20.83% for SPY, so MRNY leads on 1-year performance. Over the longest common window we track (3 years), MRNY annualized +5.02% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, MRNY or SPY?
MRNY has been the more volatile fund at 91.9% annualized versus 15.3% for SPY. Worst drawdown: MRNY -82.2% vs SPY -56.5%.
Should I hold both MRNY and SPY?
MRNY and SPY have a monthly-return correlation of -0.03, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MRNY and SPY?
MRNY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, MRNY or SPY?
MRNY yields 99.96% while SPY yields 1.01%, so MRNY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.