ARKB vs. WNTR

Last updated Aug 5, 2026

ARKB (ARK 21Shares Bitcoin ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - ARKB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while WNTR is a Derivative Income fund actively managed by YieldMax. ARKB is passively managed, while WNTR is actively managed. Over the past year, ARKB returned -44.16% vs 106.98% for WNTR. Their -0.80 correlation means they have often moved in opposite directions in the past. ARKB charges 0.21%/yr vs 1.00%/yr for WNTR.

Performance

ARKB vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK 21Shares Bitcoin ETF (ARKB) 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, ARKB achieves a -26.69% return, which is significantly lower than WNTR's 7.92% return.

ARKB

• 1D: 0.57%
• 1M: 4.52%
• 6M: -16.05%
• YTD: -26.69%
• 1Y: -44.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.02%

WNTR

• 1D: -2.34%
• 1M: 5.36%
• 6M: 2.42%
• YTD: 7.92%
• 1Y: 106.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 44.62%

*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)
ARKB ARK 21Shares Bitcoin ETF	$32.37M	$33.70M	$41.78M
WNTR YieldMax MSTR Short Option Income Strategy ETF	$3.95M	$3.66M	$3.95M

ARKB vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
ARKB ARK 21Shares Bitcoin ETF	-26.69%	0.94%
WNTR YieldMax MSTR Short Option Income Strategy ETF	7.92%	52.78%

Correlation

The correlation between ARKB and WNTR is -0.80, 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.	-0.80
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.80

The correlation between ARKB and WNTR has been stable across timeframes, ranging from -0.80 to -0.80 - a consistent structural relationship.

Return for Risk

ARKB vs. WNTR — Risk / Return Rank

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

ARKB

ARKB Risk / Return Rank: 2
ARKB Sharpe Ratio Rank: 2
ARKB Sortino Ratio Rank: 2
ARKB Omega Ratio Rank: 2
ARKB Calmar Ratio Rank: 2
ARKB Martin Ratio Rank: 2

WNTR

WNTR Risk / Return Rank: 63
WNTR Sharpe Ratio Rank: 77
WNTR Sortino Ratio Rank: 59
WNTR Omega Ratio Rank: 63
WNTR Calmar Ratio Rank: 64
WNTR Martin Ratio Rank: 50

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.

ARKB vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK 21Shares Bitcoin ETF (ARKB) 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.

	ARKB	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	1.97	-2.97
Sortino ratio: Return per unit of downside risk	-1.48	2.27	-3.75
Omega ratio: Gain probability vs. loss probability	0.84	1.30	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.83	2.52	-3.35
Martin ratio: Return relative to average drawdown	-1.27	6.38	-7.64

ARKB vs. WNTR - Sharpe Ratio Comparison

The current ARKB Sharpe Ratio is -1.00, which is lower than the WNTR Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of ARKB 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

ARKB vs. WNTR - Drawdown Comparison

The maximum ARKB drawdown since its inception was -53.33%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for ARKB and WNTR.

Drawdown Indicators

	ARKB	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-53.33%	-42.65%	-10.68%
Max Drawdown (1Y) Largest decline over 1 year	-53.33%	-42.65%	-10.68%
Current Drawdown Current decline from peak	-48.94%	-11.95%	-36.99%
Average Drawdown Average peak-to-trough decline	-18.36%	-20.12%	+1.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.90%	16.84%	+18.06%

Volatility

ARKB vs. WNTR - Volatility Comparison

The current volatility for ARK 21Shares Bitcoin ETF (ARKB) is 8.21%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 13.23%. This indicates that ARKB 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

	ARKB	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.21%	13.23%	-5.02%
Volatility (6M) Calculated over the trailing 6-month period	32.98%	46.95%	-13.97%
Volatility (1Y) Calculated over the trailing 1-year period	44.25%	54.62%	-10.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.36%	53.31%	-3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.36%	53.31%	-3.95%

ARKB vs. WNTR - Expense Ratio Comparison

ARKB has a 0.21% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

ARKB vs. WNTR - Dividend Comparison

ARKB has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 109.83%.

Position	TTM	2025
ARKB ARK 21Shares Bitcoin ETF	0.00%	0.00%
WNTR YieldMax MSTR Short Option Income Strategy ETF	109.83%	58.56%

Frequently Asked Questions

Can I hold both ARKB and WNTR in my portfolio?

ARKB and WNTR have a correlation of -0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKB or WNTR?

WNTR has higher volatility (13.23%) compared to ARKB (8.21%). In terms of maximum drawdown, ARKB dropped -53.33% vs WNTR's -42.65%.

Which ETF is better, ARKB or WNTR?

On 1-year performance, WNTR leads with 106.98% vs -44.16% for ARKB. On fees, ARKB is cheaper at 0.21% per year. On volatility, ARKB has been the lower-risk option at 8.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKB or WNTR?

Over the 1-year period, WNTR has performed better with a 106.98% return vs -44.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKB or WNTR?

ARKB is cheaper with a 0.21% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 109.83%, compared with 0.00% for ARKB.

What is the main difference between ARKB and WNTR?

ARKB is categorized as Cryptocurrency, while WNTR is Derivative Income. They also come from different issuers: ARK and YieldMax. Their fees differ too: 0.21% for ARKB and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.97 vs -1.00), 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.