CNAV vs. WNTR

Last updated Jul 17, 2026

CNAV (Mohr Company Nav ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - CNAV is a Large Cap Blend Equities fund actively managed by Mohr, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, CNAV returned 46.05% vs 127.90% for WNTR. At a correlation of -0.33, they often move in opposite directions. CNAV charges 1.31%/yr vs 1.01%/yr for WNTR.

Performance

CNAV vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mohr Company Nav ETF (CNAV) 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, CNAV achieves a 27.65% return, which is significantly higher than WNTR's 9.49% return.

CNAV

• 1D: -4.58%
• 1M: -11.37%
• 6M: 20.70%
• YTD: 27.65%
• 1Y: 46.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 2.96%
• 1M: 17.94%
• 6M: 21.62%
• YTD: 9.49%
• 1Y: 127.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CNAV vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
CNAV Mohr Company Nav ETF	27.65%	28.94%
WNTR YieldMax Short MSTR Option Income Strategy ETF	9.49%	52.78%

Correlation

The correlation between CNAV and WNTR is -0.32, 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	-0.32
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.33

Return for Risk

CNAV vs. WNTR — Risk / Return Rank

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

CNAV

CNAV Risk / Return Rank: 57
CNAV Sharpe Ratio Rank: 50
CNAV Sortino Ratio Rank: 45
CNAV Omega Ratio Rank: 50
CNAV Calmar Ratio Rank: 64
CNAV Martin Ratio Rank: 76

WNTR

WNTR Risk / Return Rank: 73
WNTR Sharpe Ratio Rank: 90
WNTR Sortino Ratio Rank: 71
WNTR Omega Ratio Rank: 75
WNTR Calmar Ratio Rank: 74
WNTR Martin Ratio Rank: 56

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.

CNAV vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mohr Company Nav ETF (CNAV) 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.

	CNAV	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.41	2.39	-0.98
Sortino ratio: Return per unit of downside risk	1.88	2.56	-0.68
Omega ratio: Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	2.55	3.02	-0.47
Martin ratio: Return relative to average drawdown	11.12	7.72	+3.40

CNAV vs. WNTR - Sharpe Ratio Comparison

The current CNAV Sharpe Ratio is 1.41, which is lower than the WNTR Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of CNAV 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

CNAV vs. WNTR - Drawdown Comparison

The maximum CNAV drawdown since its inception was -30.06%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for CNAV and WNTR.

Drawdown Indicators

	CNAV	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-30.06%	-42.65%	+12.59%
Max Drawdown (1Y) Largest decline over 1 year	-18.14%	-42.65%	+24.51%
Current Drawdown Current decline from peak	-18.14%	-10.67%	-7.47%
Average Drawdown Average peak-to-trough decline	-5.52%	-20.46%	+14.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	16.63%	-12.48%

Volatility

CNAV vs. WNTR - Volatility Comparison

Mohr Company Nav ETF (CNAV) and YieldMax Short MSTR Option Income Strategy ETF (WNTR) have volatilities of 18.16% and 17.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNAV	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.16%	17.89%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	30.01%	47.05%	-17.04%
Volatility (1Y) Calculated over the trailing 1-year period	32.77%	53.81%	-21.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.85%	53.49%	-22.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.85%	53.49%	-22.64%

CNAV vs. WNTR - Expense Ratio Comparison

CNAV has a 1.31% expense ratio, which is higher than WNTR's 1.01% expense ratio.

Dividends

CNAV vs. WNTR - Dividend Comparison

CNAV has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 106.86%.

Position	TTM	2025
CNAV Mohr Company Nav ETF	0.00%	0.00%
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.86%	58.56%

Frequently Asked Questions

Can I hold both CNAV and WNTR in my portfolio?

CNAV and WNTR have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNAV or WNTR?

CNAV has higher volatility (18.16%) compared to WNTR (17.89%). In terms of maximum drawdown, CNAV dropped -30.06% vs WNTR's -42.65%.

Which ETF is better, CNAV or WNTR?

On 1-year performance, WNTR leads with 127.90% vs 46.05% for CNAV. On fees, WNTR is cheaper at 1.01% per year. On volatility, WNTR has been the lower-risk option at 17.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNAV or WNTR?

Over the 1-year period, WNTR has performed better with a 127.90% return vs 46.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNAV or WNTR?

WNTR is cheaper with a 1.01% expense ratio, compared with 1.31% for CNAV.

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

WNTR has the higher dividend yield at 106.86%, compared with 0.00% for CNAV.

What is the main difference between CNAV and WNTR?

CNAV is categorized as Large Cap Blend Equities, while WNTR is Derivative Income. They also come from different issuers: Mohr and YieldMax. Their fees differ too: 1.31% for CNAV and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.39 vs 1.41), 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.