CGMM vs. WNTR

Last updated Jul 15, 2026

CGMM (Capital Group U.S. Small and Mid Cap ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - CGMM is a Mid Cap Blend Equities fund actively managed by Capital Group, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, CGMM returned 18.92% vs 119.74% for WNTR. At a correlation of -0.40, they often move in opposite directions. CGMM charges 0.51%/yr vs 1.01%/yr for WNTR.

Performance

CGMM vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group U.S. Small and Mid Cap ETF (CGMM) 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, CGMM achieves a 12.59% return, which is significantly higher than WNTR's 5.96% return.

CGMM

• 1D: 0.37%
• 1M: 1.72%
• 6M: 6.39%
• YTD: 12.59%
• 1Y: 18.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: -3.79%
• 1M: 13.60%
• 6M: 16.72%
• YTD: 5.96%
• 1Y: 119.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGMM vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
CGMM Capital Group U.S. Small and Mid Cap ETF	12.59%	18.24%
WNTR YieldMax Short MSTR Option Income Strategy ETF	5.96%	52.78%

Correlation

The correlation between CGMM and WNTR is -0.38, 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	-0.38
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.40

Return for Risk

CGMM vs. WNTR — Risk / Return Rank

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

CGMM

CGMM Risk / Return Rank: 44
CGMM Sharpe Ratio Rank: 41
CGMM Sortino Ratio Rank: 41
CGMM Omega Ratio Rank: 38
CGMM Calmar Ratio Rank: 45
CGMM Martin Ratio Rank: 52

WNTR

WNTR Risk / Return Rank: 70
WNTR Sharpe Ratio Rank: 87
WNTR Sortino Ratio Rank: 67
WNTR Omega Ratio Rank: 72
WNTR Calmar Ratio Rank: 71
WNTR Martin Ratio Rank: 53

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.

CGMM vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group U.S. Small and Mid Cap ETF (CGMM) 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.

	CGMM	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.17	2.24	-1.07
Sortino ratio: Return per unit of downside risk	1.76	2.46	-0.70
Omega ratio: Gain probability vs. loss probability	1.21	1.34	-0.13
Calmar ratio: Return relative to maximum drawdown	1.88	2.82	-0.94
Martin ratio: Return relative to average drawdown	7.16	7.24	-0.08

CGMM vs. WNTR - Sharpe Ratio Comparison

The current CGMM Sharpe Ratio is 1.17, which is lower than the WNTR Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of CGMM 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

CGMM vs. WNTR - Drawdown Comparison

The maximum CGMM drawdown since its inception was -21.04%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for CGMM and WNTR.

Drawdown Indicators

	CGMM	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-21.04%	-42.65%	+21.61%
Max Drawdown (1Y) Largest decline over 1 year	-10.09%	-42.65%	+32.56%
Current Drawdown Current decline from peak	-1.64%	-13.55%	+11.91%
Average Drawdown Average peak-to-trough decline	-3.08%	-20.51%	+17.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	16.60%	-13.95%

Volatility

CGMM vs. WNTR - Volatility Comparison

The current volatility for Capital Group U.S. Small and Mid Cap ETF (CGMM) is 3.76%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 19.07%. This indicates that CGMM 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

	CGMM	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	19.07%	-15.31%
Volatility (6M) Calculated over the trailing 6-month period	11.96%	47.38%	-35.42%
Volatility (1Y) Calculated over the trailing 1-year period	16.19%	53.89%	-37.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.97%	53.60%	-33.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.97%	53.60%	-33.63%

CGMM vs. WNTR - Expense Ratio Comparison

CGMM has a 0.51% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

CGMM vs. WNTR - Dividend Comparison

CGMM's dividend yield for the trailing twelve months is around 0.38%, less than WNTR's 106.17% yield.

Position	TTM	2025
CGMM Capital Group U.S. Small and Mid Cap ETF	0.38%	0.40%
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.17%	58.56%

Frequently Asked Questions

Can I hold both CGMM and WNTR in my portfolio?

CGMM and WNTR have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGMM or WNTR?

WNTR has higher volatility (19.07%) compared to CGMM (3.76%). In terms of maximum drawdown, CGMM dropped -21.04% vs WNTR's -42.65%.

Which ETF is better, CGMM or WNTR?

On 1-year performance, WNTR leads with 119.74% vs 18.92% for CGMM. On fees, CGMM is cheaper at 0.51% per year. On volatility, CGMM has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGMM or WNTR?

Over the 1-year period, WNTR has performed better with a 119.74% return vs 18.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGMM or WNTR?

CGMM is cheaper with a 0.51% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 106.17%, compared with 0.38% for CGMM.

What is the main difference between CGMM and WNTR?

CGMM is categorized as Mid Cap Blend Equities, while WNTR is Derivative Income. They also come from different issuers: Capital Group and YieldMax. Their fees differ too: 0.51% for CGMM and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.24 vs 1.17), 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.