BEGS vs. WNTR

Last updated Aug 1, 2026

BEGS (Rareview 2x Bull Cryptocurrency & Precious Metals ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - BEGS is a Leveraged Cryptocurrency fund actively managed by Rareview, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, BEGS returned -37.63% vs 107.38% for WNTR. Their -0.71 correlation means they have often moved in opposite directions in the past. BEGS charges 0.99%/yr vs 1.00%/yr for WNTR.

Performance

BEGS vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rareview 2x Bull Cryptocurrency & Precious Metals ETF (BEGS) 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, BEGS achieves a -41.25% return, which is significantly lower than WNTR's 10.75% return.

BEGS

• 1D: -4.44%
• 1M: 0.88%
• 6M: -44.88%
• YTD: -41.25%
• 1Y: -37.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -15.83%

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)
BEGS Rareview 2x Bull Cryptocurrency & Precious Metals ETF	$33.85K	$70.66K	$58.45K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$4.02M	$3.86M	$3.95M

BEGS vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
BEGS Rareview 2x Bull Cryptocurrency & Precious Metals ETF	-41.25%	56.72%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.75%	52.78%

Correlation

The correlation between BEGS and WNTR is -0.71, 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.	-0.71
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.71

The correlation between BEGS and WNTR has been stable across timeframes, ranging from -0.71 to -0.71 - a consistent structural relationship.

Return for Risk

BEGS vs. WNTR — Risk / Return Rank

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

BEGS

BEGS Risk / Return Rank: 4
BEGS Sharpe Ratio Rank: 4
BEGS Sortino Ratio Rank: 5
BEGS Omega Ratio Rank: 5
BEGS Calmar Ratio Rank: 4
BEGS Martin Ratio Rank: 3

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.

BEGS vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rareview 2x Bull Cryptocurrency & Precious Metals ETF (BEGS) 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.

	BEGS	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	2.12	-2.69
Sortino ratio: Return per unit of downside risk	-0.52	2.37	-2.89
Omega ratio: Gain probability vs. loss probability	0.94	1.32	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.65	2.71	-3.36
Martin ratio: Return relative to average drawdown	-1.21	6.87	-8.08

BEGS vs. WNTR - Sharpe Ratio Comparison

The current BEGS Sharpe Ratio is -0.58, which is lower than the WNTR Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of BEGS 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

BEGS vs. WNTR - Drawdown Comparison

The maximum BEGS drawdown since its inception was -60.23%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for BEGS and WNTR.

Drawdown Indicators

	BEGS	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-60.23%	-42.65%	-17.58%
Max Drawdown (1Y) Largest decline over 1 year	-60.23%	-42.65%	-17.58%
Current Drawdown Current decline from peak	-56.47%	-9.64%	-46.83%
Average Drawdown Average peak-to-trough decline	-20.76%	-20.18%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.21%	16.81%	+15.40%

Volatility

BEGS vs. WNTR - Volatility Comparison

Rareview 2x Bull Cryptocurrency & Precious Metals ETF (BEGS) has a higher volatility of 16.14% compared to YieldMax MSTR Short Option Income Strategy ETF (WNTR) at 14.85%. This indicates that BEGS'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

	BEGS	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.14%	14.85%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	56.59%	47.43%	+9.16%
Volatility (1Y) Calculated over the trailing 1-year period	67.71%	54.68%	+13.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.24%	53.42%	+9.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.24%	53.42%	+9.82%

BEGS vs. WNTR - Expense Ratio Comparison

BEGS has a 0.99% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

BEGS vs. WNTR - Dividend Comparison

BEGS's dividend yield for the trailing twelve months is around 82.09%, less than WNTR's 107.02% yield.

Position	TTM	2025
BEGS Rareview 2x Bull Cryptocurrency & Precious Metals ETF	82.09%	48.23%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.02%	58.56%

Frequently Asked Questions

Can I hold both BEGS and WNTR in my portfolio?

BEGS and WNTR have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BEGS or WNTR?

BEGS has higher volatility (16.14%) compared to WNTR (14.85%). In terms of maximum drawdown, BEGS dropped -60.23% vs WNTR's -42.65%.

Which ETF is better, BEGS or WNTR?

On 1-year performance, WNTR leads with 107.38% vs -37.63% for BEGS. On fees, BEGS is cheaper at 0.99% per year. On volatility, WNTR has been the lower-risk option at 14.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BEGS or WNTR?

Over the 1-year period, WNTR has performed better with a 107.38% return vs -37.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BEGS or WNTR?

BEGS is cheaper with a 0.99% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 107.02%, compared with 82.09% for BEGS.

What is the main difference between BEGS and WNTR?

BEGS is categorized as Leveraged Cryptocurrency, while WNTR is Derivative Income. They also come from different issuers: Rareview and YieldMax. Their fees differ too: 0.99% for BEGS and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.12 vs -0.58), 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.