AOTG vs. WNTR

Last updated Aug 2, 2026

AOTG (AOT Growth and Innovation ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - AOTG is a Technology Equities fund actively managed by AOT, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, AOTG returned 20.85% vs 107.38% for WNTR. Their -0.52 correlation means they have often moved in opposite directions in the past. AOTG charges 0.75%/yr vs 1.00%/yr for WNTR.

Performance

AOTG vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AOT Growth and Innovation ETF (AOTG) and YieldMax MSTR Short Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOTG achieves a 8.87% return, which is significantly lower than WNTR's 10.75% return.

AOTG

• 1D: 0.47%
• 1M: -3.36%
• 6M: 12.58%
• YTD: 8.87%
• 1Y: 20.85%
• 3Y*: 23.03%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.84%

WNTR

• 1D: 3.26%
• 1M: 8.13%
• 6M: 14.92%
• YTD: 10.75%
• 1Y: 107.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.89%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AOTG AOT Growth and Innovation ETF	$288.05K	$245.53K	$342.43K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$4.02M	$3.86M	$3.95M

AOTG vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
AOTG AOT Growth and Innovation ETF	8.87%	35.52%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.75%	52.78%

Correlation

The correlation between AOTG and WNTR is -0.53, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.53
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.52

The correlation between AOTG and WNTR has been stable across timeframes, ranging from -0.53 to -0.52 - a consistent structural relationship.

Return for Risk

AOTG vs. WNTR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AOTG

AOTG Risk / Return Rank: 26
AOTG Sharpe Ratio Rank: 27
AOTG Sortino Ratio Rank: 27
AOTG Omega Ratio Rank: 27
AOTG Calmar Ratio Rank: 25
AOTG Martin Ratio Rank: 26

WNTR

WNTR Risk / Return Rank: 75
WNTR Sharpe Ratio Rank: 88
WNTR Sortino Ratio Rank: 74
WNTR Omega Ratio Rank: 77
WNTR Calmar Ratio Rank: 77
WNTR Martin Ratio Rank: 58

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AOTG vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AOT Growth and Innovation ETF (AOTG) and YieldMax MSTR Short Option Income Strategy ETF (WNTR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AOTG	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.12	-1.48
Sortino ratio: Return per unit of downside risk	1.03	2.37	-1.34
Omega ratio: Gain probability vs. loss probability	1.13	1.32	-0.19
Calmar ratio: Return relative to maximum drawdown	0.77	2.71	-1.94
Martin ratio: Return relative to average drawdown	2.10	6.87	-4.77

AOTG vs. WNTR - Sharpe Ratio Comparison

The current AOTG Sharpe Ratio is 0.64, which is lower than the WNTR Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of AOTG and WNTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AOTG vs. WNTR - Drawdown Comparison

The maximum AOTG drawdown since its inception was -31.63%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for AOTG and WNTR.

Drawdown Indicators

	AOTG	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-31.63%	-42.65%	+11.02%
Max Drawdown (1Y) Largest decline over 1 year	-22.85%	-42.65%	+19.80%
Max Drawdown (3Y) Largest decline over 3 years	-27.41%	—	—
Current Drawdown Current decline from peak	-8.90%	-9.64%	+0.74%
Average Drawdown Average peak-to-trough decline	-7.83%	-20.18%	+12.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.39%	16.81%	-8.42%

Volatility

AOTG vs. WNTR - Volatility Comparison

The current volatility for AOT Growth and Innovation ETF (AOTG) is 10.41%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 14.85%. This indicates that AOTG experiences smaller price fluctuations and is considered to be less risky than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOTG	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.41%	14.85%	-4.44%
Volatility (6M) Calculated over the trailing 6-month period	23.39%	47.43%	-24.04%
Volatility (1Y) Calculated over the trailing 1-year period	27.67%	54.68%	-27.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.67%	53.42%	-23.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.67%	53.42%	-23.75%

AOTG vs. WNTR - Expense Ratio Comparison

AOTG has a 0.75% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

AOTG vs. WNTR - Dividend Comparison

AOTG has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 107.02%.

Position	TTM	2025
AOTG AOT Growth and Innovation ETF	0.00%	0.00%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.02%	58.56%

Frequently Asked Questions

Can I hold both AOTG and WNTR in my portfolio?

AOTG and WNTR have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOTG or WNTR?

WNTR has higher volatility (14.85%) compared to AOTG (10.41%). In terms of maximum drawdown, AOTG dropped -31.63% vs WNTR's -42.65%.

Which ETF is better, AOTG or WNTR?

On 1-year performance, WNTR leads with 107.38% vs 20.85% for AOTG. On fees, AOTG is cheaper at 0.75% per year. On volatility, AOTG has been the lower-risk option at 10.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOTG or WNTR?

Over the 1-year period, WNTR has performed better with a 107.38% return vs 20.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOTG or WNTR?

AOTG is cheaper with a 0.75% expense ratio, compared with 1.00% for WNTR.

Which ETF pays a higher dividend yield, AOTG or WNTR?

WNTR has the higher dividend yield at 107.02%, compared with 0.00% for AOTG.

What is the main difference between AOTG and WNTR?

AOTG is categorized as Technology Equities, while WNTR is Derivative Income. They also come from different issuers: AOT and YieldMax. Their fees differ too: 0.75% for AOTG and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.12 vs 0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.