COAL vs. WNTR

Last updated Aug 4, 2026

COAL (Range Global Coal Index ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - COAL is a Energy Equities fund tracking the VettaFi Global Coal Index, while WNTR is a Derivative Income fund actively managed by YieldMax. COAL is passively managed, while WNTR is actively managed. Over the past year, COAL returned 21.66% vs 106.92% for WNTR. Their -0.21 correlation means they have often moved in opposite directions in the past. COAL charges 0.85%/yr vs 1.00%/yr for WNTR.

Performance

COAL vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Range Global Coal Index ETF (COAL) 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, COAL achieves a -1.39% return, which is significantly lower than WNTR's 10.51% return.

COAL

• 1D: -0.56%
• 1M: -1.00%
• 6M: -12.93%
• YTD: -1.39%
• 1Y: 21.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.27%

WNTR

• 1D: -0.22%
• 1M: 7.89%
• 6M: 8.31%
• YTD: 10.51%
• 1Y: 106.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.29%

*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)
COAL Range Global Coal Index ETF	$599.70K	$1.03M	$1.30M
WNTR YieldMax MSTR Short Option Income Strategy ETF	$3.92M	$3.66M	$3.95M

COAL vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
COAL Range Global Coal Index ETF	-1.39%	32.31%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.51%	52.78%

Correlation

The correlation between COAL and WNTR is -0.19, 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.	-0.19
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.21

Return for Risk

COAL vs. WNTR — Risk / Return Rank

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

COAL

COAL Risk / Return Rank: 29
COAL Sharpe Ratio Rank: 30
COAL Sortino Ratio Rank: 31
COAL Omega Ratio Rank: 29
COAL Calmar Ratio Rank: 29
COAL Martin Ratio Rank: 27

WNTR

WNTR Risk / Return Rank: 69
WNTR Sharpe Ratio Rank: 83
WNTR Sortino Ratio Rank: 67
WNTR Omega Ratio Rank: 71
WNTR Calmar Ratio Rank: 70
WNTR Martin Ratio Rank: 53

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.

COAL vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Range Global Coal Index ETF (COAL) 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.

	COAL	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.75	1.97	-1.22
Sortino ratio: Return per unit of downside risk	1.24	2.27	-1.04
Omega ratio: Gain probability vs. loss probability	1.14	1.30	-0.16
Calmar ratio: Return relative to maximum drawdown	1.00	2.52	-1.52
Martin ratio: Return relative to average drawdown	2.35	6.38	-4.03

COAL vs. WNTR - Sharpe Ratio Comparison

The current COAL Sharpe Ratio is 0.75, which is lower than the WNTR Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of COAL 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

COAL vs. WNTR - Drawdown Comparison

The maximum COAL drawdown since its inception was -42.29%, roughly equal to the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for COAL and WNTR.

Drawdown Indicators

	COAL	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-42.29%	-42.65%	+0.36%
Max Drawdown (1Y) Largest decline over 1 year	-21.69%	-42.65%	+20.96%
Current Drawdown Current decline from peak	-20.80%	-9.84%	-10.96%
Average Drawdown Average peak-to-trough decline	-14.38%	-20.15%	+5.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.24%	16.83%	-7.59%

Volatility

COAL vs. WNTR - Volatility Comparison

The current volatility for Range Global Coal Index ETF (COAL) is 7.61%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 13.00%. This indicates that COAL 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

	COAL	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	13.00%	-5.39%
Volatility (6M) Calculated over the trailing 6-month period	21.44%	47.22%	-25.78%
Volatility (1Y) Calculated over the trailing 1-year period	29.13%	54.66%	-25.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.62%	53.34%	-25.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.62%	53.34%	-25.72%

COAL vs. WNTR - Expense Ratio Comparison

COAL has a 0.85% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

COAL vs. WNTR - Dividend Comparison

COAL's dividend yield for the trailing twelve months is around 2.67%, less than WNTR's 107.26% yield.

Position	TTM	2025	2024
COAL Range Global Coal Index ETF	2.67%	2.63%	1.80%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.26%	58.56%	0.00%

Frequently Asked Questions

Can I hold both COAL and WNTR in my portfolio?

COAL and WNTR have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COAL or WNTR?

WNTR has higher volatility (13.00%) compared to COAL (7.61%). In terms of maximum drawdown, COAL dropped -42.29% vs WNTR's -42.65%.

Which ETF is better, COAL or WNTR?

On 1-year performance, WNTR leads with 106.92% vs 21.66% for COAL. On fees, COAL is cheaper at 0.85% per year. On volatility, COAL has been the lower-risk option at 7.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COAL or WNTR?

Over the 1-year period, WNTR has performed better with a 106.92% return vs 21.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COAL or WNTR?

COAL is cheaper with a 0.85% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 107.26%, compared with 2.67% for COAL.

What is the main difference between COAL and WNTR?

COAL is categorized as Energy Equities, while WNTR is Derivative Income. They also come from different issuers: Exchange Traded Concepts and YieldMax. Their fees differ too: 0.85% for COAL and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.97 vs 0.75), 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.