BUFS vs. WNTR

Last updated Jun 26, 2026

BUFS (FT Vest Laddered Small Cap Moderate Buffer ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - BUFS is a Defined Outcome fund actively managed by First Trust, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, BUFS returned 19.65% vs 115.98% for WNTR. At a correlation of -0.45, they often move in opposite directions. Both charge a 1.01% expense ratio.

Performance

BUFS vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) 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, BUFS achieves a 9.33% return, which is significantly lower than WNTR's 17.65% return.

BUFS

• 1D: 0.16%
• 1M: 1.36%
• YTD: 9.33%
• 6M: 8.33%
• 1Y: 19.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 6.51%
• 1M: 45.64%
• YTD: 17.65%
• 6M: 21.49%
• 1Y: 115.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BUFS vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
BUFS FT Vest Laddered Small Cap Moderate Buffer ETF	9.33%	10.93%
WNTR YieldMax Short MSTR Option Income Strategy ETF	17.65%	52.78%

Correlation

The correlation between BUFS and WNTR is -0.43, 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	-0.43
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.45

Return for Risk

BUFS vs. WNTR — Risk / Return Rank

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

BUFS

BUFS Risk / Return Rank: 82
BUFS Sharpe Ratio Rank: 78
BUFS Sortino Ratio Rank: 81
BUFS Omega Ratio Rank: 78
BUFS Calmar Ratio Rank: 85
BUFS Martin Ratio Rank: 88

WNTR

WNTR Risk / Return Rank: 63
WNTR Sharpe Ratio Rank: 80
WNTR Sortino Ratio Rank: 60
WNTR Omega Ratio Rank: 64
WNTR Calmar Ratio Rank: 64
WNTR Martin Ratio Rank: 47

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.

BUFS vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) 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.

	BUFS	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.20	0.00
Sortino ratio: Return per unit of downside risk	3.17	2.46	+0.71
Omega ratio: Gain probability vs. loss probability	1.40	1.33	+0.07
Calmar ratio: Return relative to maximum drawdown	4.22	2.73	+1.48
Martin ratio: Return relative to average drawdown	16.90	6.99	+9.91

BUFS vs. WNTR - Sharpe Ratio Comparison

The current BUFS Sharpe Ratio is 2.20, which is comparable to the WNTR Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of BUFS 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

BUFS vs. WNTR - Drawdown Comparison

The maximum BUFS drawdown since its inception was -15.03%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for BUFS and WNTR.

Drawdown Indicators

	BUFS	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-15.03%	-42.65%	+27.62%
Max Drawdown (1Y) Largest decline over 1 year	-4.68%	-42.65%	+37.97%
Current Drawdown Current decline from peak	0.00%	-4.02%	+4.02%
Average Drawdown Average peak-to-trough decline	-2.36%	-20.87%	+18.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	16.66%	-15.49%

Volatility

BUFS vs. WNTR - Volatility Comparison

The current volatility for FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) is 2.35%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.14%. This indicates that BUFS 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

	BUFS	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	18.14%	-15.79%
Volatility (6M) Calculated over the trailing 6-month period	5.67%	46.41%	-40.74%
Volatility (1Y) Calculated over the trailing 1-year period	9.00%	53.16%	-44.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.14%	53.31%	-42.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.14%	53.31%	-42.17%

BUFS vs. WNTR - Expense Ratio Comparison

Both BUFS and WNTR have an expense ratio of 1.01%.

Dividends

BUFS vs. WNTR - Dividend Comparison

BUFS has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 94.34%.

Position	TTM	2025
BUFS FT Vest Laddered Small Cap Moderate Buffer ETF	0.00%	0.00%
WNTR YieldMax Short MSTR Option Income Strategy ETF	94.34%	58.56%

Frequently Asked Questions

Can I hold both BUFS and WNTR in my portfolio?

BUFS and WNTR have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFS or WNTR?

WNTR has higher volatility (18.14%) compared to BUFS (2.35%). In terms of maximum drawdown, BUFS dropped -15.03% vs WNTR's -42.65%.

Which ETF is better, BUFS or WNTR?

On 1-year performance, WNTR leads with 115.98% vs 19.65% for BUFS. Both ETFs have the same 1.01% expense ratio. On volatility, BUFS has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFS or WNTR?

Over the 1-year period, WNTR has performed better with a 115.98% return vs 19.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFS or WNTR?

BUFS and WNTR have the same expense ratio: 1.01% per year.

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

WNTR has the higher dividend yield at 94.34%, compared with 0.00% for BUFS.

What is the main difference between BUFS and WNTR?

BUFS is categorized as Defined Outcome, while WNTR is Derivative Income. They also come from different issuers: First Trust and YieldMax.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.20 vs 2.20), 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.