CHIQ vs. WNTR

Last updated Aug 5, 2026

CHIQ (Global X MSCI China Consumer Discretionary ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - CHIQ is a China Equities fund tracking the MSCI China Consumer Discretionary 10/50 Index, while WNTR is a Derivative Income fund actively managed by YieldMax. CHIQ is passively managed, while WNTR is actively managed. Over the past year, CHIQ returned -11.86% vs 106.98% for WNTR. Their -0.28 correlation means they have often moved in opposite directions in the past. CHIQ charges 0.65%/yr vs 1.00%/yr for WNTR.

Performance

CHIQ vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI China Consumer Discretionary ETF (CHIQ) 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, CHIQ achieves a -12.61% return, which is significantly lower than WNTR's 7.92% return.

CHIQ

• 1D: -0.78%
• 1M: 13.46%
• 6M: -11.03%
• YTD: -12.61%
• 1Y: -11.86%
• 3Y*: -1.64%
• 5Y*: -8.27%
• 10Y*: 6.32%
• ALL TIME*: 2.17%

WNTR

• 1D: -2.34%
• 1M: 5.36%
• 6M: 2.42%
• YTD: 7.92%
• 1Y: 106.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 44.62%

*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)
CHIQ Global X MSCI China Consumer Discretionary ETF	$1.03M	$735.04K	$809.72K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$3.95M	$3.66M	$3.95M

CHIQ vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
CHIQ Global X MSCI China Consumer Discretionary ETF	-12.61%	-4.43%
WNTR YieldMax MSTR Short Option Income Strategy ETF	7.92%	52.78%

Correlation

The correlation between CHIQ and WNTR is -0.26, 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.	-0.26
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.28

Return for Risk

CHIQ vs. WNTR — Risk / Return Rank

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

CHIQ

CHIQ Risk / Return Rank: 5
CHIQ Sharpe Ratio Rank: 5
CHIQ Sortino Ratio Rank: 5
CHIQ Omega Ratio Rank: 5
CHIQ Calmar Ratio Rank: 6
CHIQ Martin Ratio Rank: 6

WNTR

WNTR Risk / Return Rank: 63
WNTR Sharpe Ratio Rank: 77
WNTR Sortino Ratio Rank: 59
WNTR Omega Ratio Rank: 63
WNTR Calmar Ratio Rank: 64
WNTR Martin Ratio Rank: 50

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.

CHIQ vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI China Consumer Discretionary ETF (CHIQ) 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.

	CHIQ	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	1.97	-2.49
Sortino ratio: Return per unit of downside risk	-0.61	2.27	-2.88
Omega ratio: Gain probability vs. loss probability	0.93	1.30	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.34	2.52	-2.86
Martin ratio: Return relative to average drawdown	-0.71	6.38	-7.08

CHIQ vs. WNTR - Sharpe Ratio Comparison

The current CHIQ Sharpe Ratio is -0.52, which is lower than the WNTR Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of CHIQ 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

CHIQ vs. WNTR - Drawdown Comparison

The maximum CHIQ drawdown since its inception was -67.04%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for CHIQ and WNTR.

Drawdown Indicators

	CHIQ	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-67.04%	-42.65%	-24.39%
Max Drawdown (1Y) Largest decline over 1 year	-35.53%	-42.65%	+7.12%
Max Drawdown (3Y) Largest decline over 3 years	-35.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-54.89%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-67.04%	—	—
Current Drawdown Current decline from peak	-54.15%	-11.95%	-42.20%
Average Drawdown Average peak-to-trough decline	-30.87%	-20.12%	-10.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.85%	16.84%	+0.01%

Volatility

CHIQ vs. WNTR - Volatility Comparison

The current volatility for Global X MSCI China Consumer Discretionary ETF (CHIQ) is 6.69%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 13.23%. This indicates that CHIQ 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

	CHIQ	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.69%	13.23%	-6.54%
Volatility (6M) Calculated over the trailing 6-month period	16.64%	46.95%	-30.31%
Volatility (1Y) Calculated over the trailing 1-year period	23.16%	54.62%	-31.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.29%	53.31%	-16.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.47%	53.31%	-20.84%

CHIQ vs. WNTR - Expense Ratio Comparison

CHIQ has a 0.65% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

CHIQ vs. WNTR - Dividend Comparison

CHIQ's dividend yield for the trailing twelve months is around 1.54%, less than WNTR's 109.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHIQ Global X MSCI China Consumer Discretionary ETF	1.54%	1.48%	2.65%	2.26%	0.38%	0.00%	0.11%	1.05%	2.71%	0.62%	1.51%	4.86%
WNTR YieldMax MSTR Short Option Income Strategy ETF	109.83%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CHIQ and WNTR in my portfolio?

CHIQ and WNTR have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHIQ or WNTR?

WNTR has higher volatility (13.23%) compared to CHIQ (6.69%). In terms of maximum drawdown, CHIQ dropped -67.04% vs WNTR's -42.65%.

Which ETF is better, CHIQ or WNTR?

On 1-year performance, WNTR leads with 106.98% vs -11.86% for CHIQ. On fees, CHIQ is cheaper at 0.65% per year. On volatility, CHIQ has been the lower-risk option at 6.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHIQ or WNTR?

Over the 1-year period, WNTR has performed better with a 106.98% return vs -11.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHIQ or WNTR?

CHIQ is cheaper with a 0.65% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 109.83%, compared with 1.54% for CHIQ.

What is the main difference between CHIQ and WNTR?

CHIQ is categorized as China Equities, while WNTR is Derivative Income. They also come from different issuers: Global X and YieldMax. Their fees differ too: 0.65% for CHIQ and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.97 vs -0.52), 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.