NAV Erosion Leaderboard
Option-income ETFs ranked by share-price change over the measurement window, worst first. The column that matters is the last one: a fund can lose 30% of its NAV and still have been a positive holding if it distributed more than 30% over the same period. Several did not.
Over the last 1Y, MSTY distributed 126.6% of its price while NAV fell 86.2%. The decline was larger than everything paid out, so a holder across the full window is down on a total-return basis despite the distributions.
Ranking covers funds with a full twelve-month price history that paid at least one distribution in the window. 6 funds were excluded for having under a year of history. 1 fund was excluded for paying no distribution over the window — a non-paying fund has nothing to weigh its NAV decline against.
| # | Fund | NAV change (1Y) | Distributions / share | TTM yield | Real yield | Recovery needed |
|---|---|---|---|---|---|---|
| 1 | MSTYMicroStrategy | -86.2% | $15.66 | +126.6% | -68.6% | +622% |
| 2 | RBLYRoblox | -83.0% | $14.67 | +165.2% | -55.0% | +490% |
| 3 | AIYYAI stock basket | -78.6% | $5.94 | +77.9% | -62.0% | +368% |
| 4 | SMCYSuper Micro Computer | -78.0% | $7.99 | +177.5% | -39.0% | +355% |
| 5 | MAROMarathon Digital | -75.4% | $9.18 | +196.2% | -27.1% | +306% |
| 6 | CONYCoinbase | -75.3% | $15.37 | +85.4% | -54.3% | +305% |
| 7 | CRCOCircle | -75.2% | $19.60 | +158.1% | -36.0% | +303% |
| 8 | HIYYHims & Hers | -73.5% | $15.54 | +121.5% | -41.4% | +278% |
| 9 | DRAYDraftKings | -71.1% | $16.14 | +110.3% | -39.3% | +246% |
| 10 | RDYYReddit | -69.0% | $18.22 | +117.6% | -32.6% | +223% |
| 11 | YBITBitcoin | -65.6% | $10.89 | +59.3% | -45.2% | +191% |
| 12 | YBTCBitcoin | -62.5% | $14.07 | +81.0% | -32.2% | +167% |
| 13 | HOOYRobinhood | -62.1% | $35.09 | +142.0% | -8.4% | +164% |
| 14 | PLTYPalantir | -58.0% | $35.05 | +123.2% | -6.2% | +138% |
| 15 | ULTYUltra high-yield basket | -56.4% | $16.48 | +62.9% | -29.0% | +129% |
| 16 | CVNYCarvana | -55.6% | $22.29 | +114.6% | -4.8% | +125% |
| 17 | SLTYUltra Short basket | -55.4% | $18.88 | +84.8% | -17.6% | +124% |
| 18 | NFLYNetflix | -54.9% | $4.66 | +62.0% | -27.0% | +122% |
| 19 | FBYMeta Platforms | -50.2% | $5.26 | +62.8% | -18.9% | +101% |
| 20 | CRSHShort Tesla | -49.8% | $9.91 | +42.4% | -28.5% | +99% |
| 21 | FEATDorsey Wright Featured 5 | -49.3% | $13.95 | +77.8% | -9.8% | +97% |
| 22 | XYZYBlock (XYZ) | -46.1% | $13.87 | +53.6% | -17.2% | +86% |
| 23 | PYPYPayPal | -46.1% | $10.84 | +35.8% | -26.8% | +86% |
| 24 | LFGYCrypto & Tech basket | -45.6% | $16.63 | +85.7% | +1.1% | +84% |
| 25 | GMEYGameStop | -45.6% | $14.84 | +54.0% | -16.1% | +84% |
| 26 | TSLYTesla | -44.0% | $14.21 | +67.4% | -6.2% | +78% |
| 27 | YMAXYieldMax portfolio | -43.9% | $5.32 | +72.2% | -3.4% | +78% |
| 28 | BABOAlibaba | -43.7% | $8.13 | +95.8% | +10.2% | +78% |
| 29 | DIPSShort NVIDIA | -43.3% | $14.76 | +38.6% | -21.4% | +76% |
| 30 | FIVYDorsey Wright Hybrid 5 | -36.8% | $10.66 | +43.5% | -9.3% | +58% |
| 31 | OARKARK Innovation | -36.7% | $11.94 | +43.8% | -9.0% | +58% |
| 32 | FIATShort Coinbase | -35.8% | $13.53 | +63.3% | +4.8% | +56% |
| 33 | GDXYGold Miners | -35.1% | $8.40 | +88.0% | +22.0% | +54% |
| 34 | MSFOMicrosoft | -33.2% | $4.40 | +36.4% | -8.9% | +50% |
| 35 | MRNYModerna | -30.1% | $10.51 | +73.0% | +20.9% | +43% |
| 36 | SNOYSnowflake | -30.0% | $7.78 | +71.0% | +19.7% | +43% |
| 37 | DISODisney | -29.5% | $2.93 | +30.9% | -7.8% | +42% |
| 38 | NVDYNVIDIA | -29.3% | $7.17 | +59.4% | +12.7% | +41% |
| 39 | ABNYAirbnb | -26.9% | $11.37 | +28.9% | -5.7% | +37% |
| 40 | YQQQShort Nasdaq 100 | -26.5% | $2.82 | +27.7% | -6.2% | +36% |
| 41 | YMAGMagnificent 7 basket | -25.3% | $5.84 | +51.9% | +13.4% | +34% |
| 42 | AMZYAmazon | -22.6% | $5.30 | +46.0% | +13.0% | +29% |
| 43 | QDTENasdaq-100 (QQQ) | -17.1% | $13.19 | +45.9% | +21.0% | +21% |
| 44 | WNTRShort MicroStrategy | -15.8% | $27.37 | +101.6% | +69.7% | +19% |
| 45 | BRKCBerkshire Hathaway | -15.2% | $8.64 | +21.1% | +2.7% | +18% |
| 46 | RDTYRussell 2000 0DTE | -14.3% | $16.23 | +43.2% | +22.8% | +17% |
| 47 | QDTYNasdaq 100 0DTE | -11.7% | $13.91 | +35.7% | +19.8% | +13% |
| 48 | FEPIFANG & Innovation basket | -11.5% | $10.65 | +26.8% | +12.2% | +13% |
| 49 | XDTES&P 500 (SPY) | -10.9% | $12.37 | +32.0% | +17.6% | +12% |
| 50 | GPTYAI & Tech basket | -9.7% | $15.89 | +39.0% | +25.5% | +11% |
| 51 | XOMOExxon Mobil | -8.1% | $4.17 | +37.0% | +26.0% | +9% |
| 52 | SDTYS&P 500 0DTE | -7.6% | $11.49 | +27.9% | +18.1% | +8% |
| 53 | TLTWiShares 20+ Year Treasury BuyWrite | -7.6% | $2.41 | +11.4% | +2.9% | +8% |
| 54 | TSMYTSMC | -6.9% | $8.85 | +58.3% | +47.4% | +7% |
| 55 | APLYApple | -5.4% | $4.14 | +35.6% | +28.3% | +6% |
| 56 | SVOLSimplify Volatility Premium | -4.1% | $3.50 | +22.1% | +17.2% | +4% |
| 57 | RNTYReal Estate basket | -0.9% | $6.03 | +13.0% | +11.0% | +1% |
| 58 | GOOYAlphabet | +0.2% | $7.02 | +55.1% | +55.2% | — |
| 59 | BIGYBig 50 basket | +3.4% | $6.26 | +12.1% | +12.5% | — |
| 60 | SPYINEOS S&P 500 High Income | +5.2% | $6.31 | +11.9% | +12.6% | — |
| 61 | AMDYAMD | +5.9% | $23.71 | +51.7% | +54.7% | — |
| 62 | XYLDGlobal X S&P 500 Covered Call | +6.7% | $4.33 | +10.5% | +11.2% | — |
| 63 | QYLDGlobal X Nasdaq 100 Covered Call | +7.0% | $2.11 | +11.9% | +12.7% | — |
| 64 | DIVOAmplify CWP Enhanced Dividend Income | +10.4% | $2.99 | +6.4% | +7.0% | — |
| 65 | CHPYSemiconductor basket | +27.6% | $26.11 | +38.7% | +49.4% | — |
| 66 | DDDDU.S. Stocks Double Distribution | +31.1% | $0.51 | +1.5% | +2.0% | — |
| 67 | SOXYSemiconductor basket | +71.5% | $8.34 | +9.4% | +16.1% | — |
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Why NAV erosion matters more than yield
A covered-call or option-income ETF caps its upside by design. When the underlying rallies, the sold calls limit participation; when it falls, the fund takes most of the decline. The distribution is funded partly from option premium and partly, in weak periods, from capital — which shows up as return of capital in the 19a-1 notice and as a falling NAV on the chart.
That is not automatically bad. Return of capital defers tax and reduces cost basis rather than destroying value outright, and a fund that pays 60% while losing 20% of NAV has still delivered a positive economic return. The failure mode is the fund that pays 40% while losing 55% — the distribution looks identical in a brokerage statement, but the holder is behind.
The "recovery needed" column is the arithmetic most headline-yield coverage skips: a 50% NAV decline requires a 100% gain to get back to flat, not a 50% one.
Compare any two of these funds directly with the comparison tool, or see the same figures ranked by surviving yield on the real yield rankings.