AVSE vs. WNTR

Last updated Jul 12, 2026

AVSE (Avantis Responsible Emerging Markets Equity ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - AVSE is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index, while WNTR is a Derivative Income fund actively managed by YieldMax. AVSE is passively managed, while WNTR is actively managed. Over the past year, AVSE returned 38.81% vs 116.49% for WNTR. At a correlation of -0.37, they often move in opposite directions. AVSE charges 0.33%/yr vs 1.01%/yr for WNTR.

Performance

AVSE vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Responsible Emerging Markets Equity ETF (AVSE) and YieldMax Short MSTR 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, AVSE achieves a 23.52% return, which is significantly higher than WNTR's 8.06% return.

AVSE

• 1D: 0.26%
• 1M: -0.79%
• 6M: 19.17%
• YTD: 23.52%
• 1Y: 38.81%
• 3Y*: 23.63%
• 5Y*: —
• 10Y*: —

WNTR

• 1D: -0.43%
• 1M: 15.85%
• 6M: 10.45%
• YTD: 8.06%
• 1Y: 116.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVSE vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
AVSE Avantis Responsible Emerging Markets Equity ETF	23.52%	27.72%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between AVSE and WNTR is -0.36, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.36
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.37

Return for Risk

AVSE vs. WNTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVSE

AVSE Risk / Return Rank: 66
AVSE Sharpe Ratio Rank: 64
AVSE Sortino Ratio Rank: 60
AVSE Omega Ratio Rank: 68
AVSE Calmar Ratio Rank: 68
AVSE Martin Ratio Rank: 68

WNTR

WNTR Risk / Return Rank: 65
WNTR Sharpe Ratio Rank: 81
WNTR Sortino Ratio Rank: 63
WNTR Omega Ratio Rank: 67
WNTR Calmar Ratio Rank: 65
WNTR Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVSE vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Responsible Emerging Markets Equity ETF (AVSE) and YieldMax Short MSTR 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.

	AVSE	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.69	2.06	-0.37
Sortino ratio: Return per unit of downside risk	2.25	2.34	-0.09
Omega ratio: Gain probability vs. loss probability	1.32	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	2.72	2.60	+0.12
Martin ratio: Return relative to average drawdown	9.86	6.69	+3.17

AVSE vs. WNTR - Sharpe Ratio Comparison

The current AVSE Sharpe Ratio is 1.69, which is comparable to the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of AVSE 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

AVSE vs. WNTR - Drawdown Comparison

The maximum AVSE drawdown since its inception was -26.28%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for AVSE and WNTR.

Drawdown Indicators

	AVSE	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-26.28%	-42.65%	+16.37%
Max Drawdown (1Y) Largest decline over 1 year	-14.17%	-42.65%	+28.48%
Max Drawdown (3Y) Largest decline over 3 years	-17.68%	—	—
Current Drawdown Current decline from peak	-5.73%	-11.84%	+6.11%
Average Drawdown Average peak-to-trough decline	-6.76%	-20.57%	+13.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.91%	16.58%	-12.67%

Volatility

AVSE vs. WNTR - Volatility Comparison

The current volatility for Avantis Responsible Emerging Markets Equity ETF (AVSE) is 10.98%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that AVSE 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

	AVSE	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.98%	18.80%	-7.82%
Volatility (6M) Calculated over the trailing 6-month period	20.78%	47.57%	-26.79%
Volatility (1Y) Calculated over the trailing 1-year period	22.80%	53.81%	-31.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.83%	53.62%	-34.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	53.62%	-34.79%

AVSE vs. WNTR - Expense Ratio Comparison

AVSE has a 0.33% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

AVSE vs. WNTR - Dividend Comparison

AVSE's dividend yield for the trailing twelve months is around 2.04%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022
AVSE Avantis Responsible Emerging Markets Equity ETF	2.04%	2.68%	3.03%	3.20%	1.27%
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	58.56%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVSE and WNTR in my portfolio?

AVSE and WNTR have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVSE or WNTR?

WNTR has higher volatility (18.80%) compared to AVSE (10.98%). In terms of maximum drawdown, AVSE dropped -26.28% vs WNTR's -42.65%.

Which ETF is better, AVSE or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 38.81% for AVSE. On fees, AVSE is cheaper at 0.33% per year. On volatility, AVSE has been the lower-risk option at 10.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVSE or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 38.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVSE or WNTR?

AVSE is cheaper with a 0.33% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 104.11%, compared with 2.04% for AVSE.

What is the main difference between AVSE and WNTR?

AVSE is categorized as Emerging Markets Diversified, while WNTR is Derivative Income. They also come from different issuers: Avantis and YieldMax. Their fees differ too: 0.33% for AVSE and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.06 vs 1.69), 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.