- Issuer
- YieldMax
- Inception Date
- Mar 26, 2025
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $67M
Share Price Chart
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Performance
WNTR Performance Chart
YieldMax Short MSTR Option Income Strategy ETF (WNTR) is down 7.5% since the beginning of the year. WNTR is currently trading at $26 per share.
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Returns By Period
YieldMax Short MSTR Option Income Strategy ETF (WNTR) has returned -7.49% so far this year and 73.88% over the past 12 months.
YieldMax Short MSTR Option Income Strategy ETF
- 1D
- 4.50%
- 1M
- 25.47%
- YTD
- -7.49%
- 6M
- 10.48%
- 1Y
- 73.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
WNTR Monthly Returns History
Based on dividend-adjusted daily data since Mar 27, 2025, WNTR's average daily return is +0.18%, while the average monthly return is +3.12%. At this rate, an investment would double in approximately 1.9 years.
Historically, 63% of months were positive and 38% were negative. The best month was Nov 2025 with a return of +29.5%, while the worst month was Apr 2026 at -25.7%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, WNTR closed higher 56% of trading days. The best single day was Feb 5, 2026 with a return of +13.4%, while the worst single day was Feb 6, 2026 at -19.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -3.62% | 8.36% | 1.75% | -25.74% | 1.57% | 15.42% | -7.49% | ||||||
| 2025 | 6.07% | -19.45% | -0.06% | -4.19% | -2.77% | 12.83% | 1.92% | 14.02% | 29.47% | 14.36% | 54.43% |
Benchmark Metrics
YieldMax Short MSTR Option Income Strategy ETF has an annualized alpha of 122.53%, beta of -1.41, and R2 of 0.22 versus S&P 500 Index. Calculated based on daily prices since March 28, 2025.
- This ETF captured 32.46% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -341.81%) - a profile typical of hedging or uncorrelated assets.
- Beta of -1.41 may look defensive, but with R2 of 0.22 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.22 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 122.53%
- Beta
- -1.41
- R²
- 0.22
- Upside Capture
- 32.46%
- Downside Capture
- -341.81%
Expense Ratio
WNTR has a high expense ratio of 1.01%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
WNTR ranks 38 for risk / return — below 38% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for YieldMax Short MSTR Option Income Strategy ETF (WNTR) and compare them to S&P 500 Index.
| WNTR | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.47 | 2.24 | -0.78 |
Sortino ratioReturn per unit of downside risk | 1.88 | 3.07 | -1.20 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.41 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.93 | -1.19 |
Martin ratioReturn relative to average drawdown | 4.63 | 13.52 | -8.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
YieldMax Short MSTR Option Income Strategy ETF provided a 116.75% dividend yield over the last twelve months, with an annual payout of $30.93 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $30.93 | $23.23 |
Dividend yield | 116.75% | 58.56% |
Monthly Dividends
The table displays the monthly dividend distributions for YieldMax Short MSTR Option Income Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $2.67 | $2.41 | $2.10 | $2.08 | $1.16 | $0.00 | $10.42 | ||||||
| 2025 | $2.72 | $3.07 | $3.51 | $2.20 | $3.30 | $2.67 | $3.33 | $2.43 | $23.23 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the YieldMax Short MSTR Option Income Strategy ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the YieldMax Short MSTR Option Income Strategy ETF was 42.65%, occurring on May 11, 2026. The portfolio has not yet recovered.
The current YieldMax Short MSTR Option Income Strategy ETF drawdown is 24.53%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -42.65%May 2026 | 3mo 4d | — | 3mo 28dFeb 2026 - now |
2025 bear market2025 | -38.59%Jul 2025 | 3mo 8d | 4mo | 7mo 8dApr 2025 - Nov 2025 |
2026 correction2026 | -12.24%Jan 2026 | 12d | 15d | 27dJan 2026 - Jan 2026 |
2025 pullback2025 | -7.20%Dec 2025 | 1d | 12d | 13dDec 2025 - Dec 2025 |
2025 selloff2025 | -6.11%Apr 2025 | 2d | 1d | 3dMar 2025 - Apr 2025 |
Drawdown Indicators
| WNTR | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.65% | -56.78% | +14.13% |
Max Drawdown (1Y)Largest decline over 1 year | -42.65% | -9.10% | -33.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -24.53% | -0.74% | -23.79% |
Average DrawdownAverage peak-to-trough decline | -20.98% | -10.72% | -10.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.02% | 1.97% | +14.05% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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