ARMG vs. WNTR

Last updated Aug 4, 2026

ARMG (Leverage Shares 2X Long ARM Daily ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - ARMG is a Leveraged Equities fund actively managed by Leverage Shares, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, ARMG returned 58.82% vs 106.92% for WNTR. Their -0.33 correlation means they have often moved in opposite directions in the past. ARMG charges 0.75%/yr vs 1.00%/yr for WNTR.

Performance

ARMG vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ARM Daily ETF (ARMG) 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, ARMG achieves a 188.60% return, which is significantly higher than WNTR's 10.51% return.

ARMG

• 1D: -0.48%
• 1M: -46.52%
• 6M: 209.21%
• YTD: 188.60%
• 1Y: 58.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.97%

WNTR

• 1D: -0.22%
• 1M: 7.89%
• 6M: 8.31%
• YTD: 10.51%
• 1Y: 106.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.29%

*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)
ARMG Leverage Shares 2X Long ARM Daily ETF	$14.41M	$19.14M	$65.85M
WNTR YieldMax MSTR Short Option Income Strategy ETF	$3.92M	$3.66M	$3.95M

ARMG vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	188.60%	-35.24%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.51%	52.78%

Correlation

The correlation between ARMG and WNTR is -0.35, 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.	-0.35
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.33

Return for Risk

ARMG vs. WNTR — Risk / Return Rank

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

ARMG

ARMG Risk / Return Rank: 30
ARMG Sharpe Ratio Rank: 20
ARMG Sortino Ratio Rank: 44
ARMG Omega Ratio Rank: 41
ARMG Calmar Ratio Rank: 25
ARMG Martin Ratio Rank: 21

WNTR

WNTR Risk / Return Rank: 69
WNTR Sharpe Ratio Rank: 83
WNTR Sortino Ratio Rank: 67
WNTR Omega Ratio Rank: 71
WNTR Calmar Ratio Rank: 70
WNTR Martin Ratio Rank: 53

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.

ARMG vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ARM Daily ETF (ARMG) 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.

	ARMG	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.40	1.97	-1.57
Sortino ratio: Return per unit of downside risk	1.69	2.27	-0.58
Omega ratio: Gain probability vs. loss probability	1.20	1.30	-0.10
Calmar ratio: Return relative to maximum drawdown	0.77	2.52	-1.75
Martin ratio: Return relative to average drawdown	1.43	6.38	-4.95

ARMG vs. WNTR - Sharpe Ratio Comparison

The current ARMG Sharpe Ratio is 0.40, which is lower than the WNTR Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of ARMG 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

ARMG vs. WNTR - Drawdown Comparison

The maximum ARMG drawdown since its inception was -80.28%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for ARMG and WNTR.

Drawdown Indicators

	ARMG	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-80.28%	-42.65%	-37.63%
Max Drawdown (1Y) Largest decline over 1 year	-76.64%	-42.65%	-33.99%
Current Drawdown Current decline from peak	-73.68%	-9.84%	-63.84%
Average Drawdown Average peak-to-trough decline	-52.19%	-20.15%	-32.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.34%	16.83%	+24.51%

Volatility

ARMG vs. WNTR - Volatility Comparison

Leverage Shares 2X Long ARM Daily ETF (ARMG) has a higher volatility of 49.60% compared to YieldMax MSTR Short Option Income Strategy ETF (WNTR) at 13.00%. This indicates that ARMG's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARMG	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	49.60%	13.00%	+36.60%
Volatility (6M) Calculated over the trailing 6-month period	128.11%	47.22%	+80.89%
Volatility (1Y) Calculated over the trailing 1-year period	147.13%	54.66%	+92.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	145.23%	53.34%	+91.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	145.23%	53.34%	+91.89%

ARMG vs. WNTR - Expense Ratio Comparison

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

Dividends

ARMG vs. WNTR - Dividend Comparison

ARMG's dividend yield for the trailing twelve months is around 1.69%, less than WNTR's 107.26% yield.

Position	TTM	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	1.69%	4.86%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.26%	58.56%

Frequently Asked Questions

Can I hold both ARMG and WNTR in my portfolio?

ARMG and WNTR have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARMG or WNTR?

ARMG has higher volatility (49.60%) compared to WNTR (13.00%). In terms of maximum drawdown, ARMG dropped -80.28% vs WNTR's -42.65%.

Which ETF is better, ARMG or WNTR?

On 1-year performance, WNTR leads with 106.92% vs 58.82% for ARMG. On fees, ARMG is cheaper at 0.75% per year. On volatility, WNTR has been the lower-risk option at 13.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARMG or WNTR?

Over the 1-year period, WNTR has performed better with a 106.92% return vs 58.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARMG or WNTR?

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

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

WNTR has the higher dividend yield at 107.26%, compared with 1.69% for ARMG.

What is the main difference between ARMG and WNTR?

ARMG is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: Leverage Shares and YieldMax. Their fees differ too: 0.75% for ARMG and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.97 vs 0.40), 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.