BITQ vs. WNTR
BITQ (Bitwise Crypto Industry Innovators ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - BITQ is a Blockchain fund tracking the Bitwise Crypto Innovators 30 Index, while WNTR is a Derivative Income fund actively managed by YieldMax. BITQ is passively managed, while WNTR is actively managed. Over the past year, BITQ returned 24.60% vs 106.92% for WNTR. Their -0.67 correlation means they have often moved in opposite directions in the past. BITQ charges 0.85%/yr vs 1.00%/yr for WNTR.
Performance
BITQ vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, BITQ achieves a 18.16% return, which is significantly higher than WNTR's 10.51% return.
BITQ
- 1D
- 3.33%
- 1M
- -1.01%
- 6M
- 14.26%
- YTD
- 18.16%
- 1Y
- 24.60%
- 3Y*
- 39.21%
- 5Y*
- 0.93%
- 10Y*
- —
- ALL TIME*
- 0.18%
WNTR
- 1D
- -0.22%
- 1M
- 7.89%
- 6M
- 8.31%
- YTD
- 10.51%
- 1Y
- 106.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 47.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.37M | $2.10M | $2.97M | |
| $3.92M | $3.66M | $3.95M |
BITQ vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 18.16% | 46.11% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 10.51% | 52.78% |
Correlation
The correlation between BITQ and WNTR is -0.69, 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. | -0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.67 |
The correlation between BITQ and WNTR has been stable across timeframes, ranging from -0.69 to -0.67 - a consistent structural relationship.
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Return for Risk
BITQ vs. WNTR — Risk / Return Rank
BITQ
WNTR
BITQ vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) 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.
| BITQ | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.30 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 2.52 | -1.97 |
| Martin ratioReturn relative to average drawdown | 1.10 | 6.38 | -5.28 |
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Drawdowns
BITQ vs. WNTR - Drawdown Comparison
The maximum BITQ drawdown since its inception was -90.32%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for BITQ and WNTR.
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Drawdown Indicators
| BITQ | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.32% | -42.65% | -47.67% |
Max Drawdown (1Y)Largest decline over 1 year | -44.99% | -42.65% | -2.34% |
Max Drawdown (3Y)Largest decline over 3 years | -51.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -90.32% | — | — |
Current DrawdownCurrent decline from peak | -27.36% | -9.84% | -17.52% |
Average DrawdownAverage peak-to-trough decline | -51.97% | -20.15% | -31.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.43% | 16.83% | +5.60% |
Volatility
BITQ vs. WNTR - Volatility Comparison
Bitwise Crypto Industry Innovators ETF (BITQ) has a higher volatility of 19.86% compared to YieldMax MSTR Short Option Income Strategy ETF (WNTR) at 13.00%. This indicates that BITQ'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.
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Volatility by Period
| BITQ | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.86% | 13.00% | +6.86% |
Volatility (6M)Calculated over the trailing 6-month period | 44.31% | 47.22% | -2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.03% | 54.66% | +4.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.26% | 53.34% | +13.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.15% | 53.34% | +13.81% |
BITQ vs. WNTR - Expense Ratio Comparison
BITQ has a 0.85% expense ratio, which is lower than WNTR's 1.00% expense ratio.
Dividends
BITQ vs. WNTR - Dividend Comparison
BITQ has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 107.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BITQ Bitwise Crypto Industry Innovators ETF | 0.00% | 0.00% | 0.90% | 1.51% | 0.00% | 3.12% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 107.26% | 58.56% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITQ and WNTR have a correlation of -0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITQ has higher volatility (19.86%) compared to WNTR (13.00%). In terms of maximum drawdown, BITQ dropped -90.32% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 106.92% vs 24.60% for BITQ. On fees, BITQ is cheaper at 0.85% 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.
Over the 1-year period, WNTR has performed better with a 106.92% return vs 24.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BITQ is cheaper with a 0.85% expense ratio, compared with 1.00% for WNTR.
WNTR has the higher dividend yield at 107.26%, compared with 0.00% for BITQ.
BITQ is categorized as Blockchain, while WNTR is Derivative Income. They also come from different issuers: Bitwise and YieldMax. Their fees differ too: 0.85% for BITQ and 1.00% for WNTR.
WNTR currently has the higher Sharpe Ratio (1.97 vs 0.42), 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.
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