CWEB vs. WNTR
CWEB (Direxion Daily CSI China Internet Index Bull 2x Shares) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - CWEB is a China Equities fund tracking the CSI China Overseas Internet Index (200%), while WNTR is a Derivative Income fund actively managed by YieldMax. CWEB is passively managed, while WNTR is actively managed. Over the past year, CWEB returned -33.46% vs 107.38% for WNTR. Their -0.33 correlation means they have often moved in opposite directions in the past. CWEB charges 1.30%/yr vs 1.00%/yr for WNTR.
Performance
CWEB vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, CWEB achieves a -36.03% return, which is significantly lower than WNTR's 10.75% return.
CWEB
- 1D
- 3.09%
- 1M
- 28.79%
- 6M
- -39.78%
- YTD
- -36.03%
- 1Y
- -33.46%
- 3Y*
- -15.58%
- 5Y*
- -34.28%
- 10Y*
- —
- ALL TIME*
- -19.66%
WNTR
- 1D
- 3.26%
- 1M
- 8.13%
- 6M
- 14.92%
- YTD
- 10.75%
- 1Y
- 107.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 47.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.22M | $13.80M | $17.15M | |
| $4.02M | $3.86M | $3.95M |
CWEB vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | -36.03% | -7.43% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 10.75% | 52.78% |
Correlation
The correlation between CWEB and WNTR is -0.34, 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. | -0.34 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.33 |
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Return for Risk
CWEB vs. WNTR — Risk / Return Rank
CWEB
WNTR
CWEB vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) 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.
| CWEB | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.78 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.32 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 2.71 | -3.25 |
| Martin ratioReturn relative to average drawdown | -0.92 | 6.87 | -7.78 |
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Drawdowns
CWEB vs. WNTR - Drawdown Comparison
The maximum CWEB drawdown since its inception was -98.18%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for CWEB and WNTR.
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Drawdown Indicators
| CWEB | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.18% | -42.65% | -55.53% |
Max Drawdown (1Y)Largest decline over 1 year | -69.36% | -42.65% | -26.71% |
Max Drawdown (3Y)Largest decline over 3 years | -69.36% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -92.51% | — | — |
Current DrawdownCurrent decline from peak | -97.39% | -9.64% | -87.75% |
Average DrawdownAverage peak-to-trough decline | -66.00% | -20.18% | -45.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.38% | 16.81% | +23.57% |
Volatility
CWEB vs. WNTR - Volatility Comparison
Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) has a higher volatility of 15.76% compared to YieldMax MSTR Short Option Income Strategy ETF (WNTR) at 14.85%. This indicates that CWEB's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWEB | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.76% | 14.85% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 41.53% | 47.43% | -5.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 54.68% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 93.18% | 53.42% | +39.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.32% | 53.42% | +26.90% |
CWEB vs. WNTR - Expense Ratio Comparison
CWEB has a 1.30% expense ratio, which is higher than WNTR's 1.00% expense ratio.
Dividends
CWEB vs. WNTR - Dividend Comparison
CWEB's dividend yield for the trailing twelve months is around 5.68%, less than WNTR's 107.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 5.68% | 2.77% | 4.59% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 107.02% | 58.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CWEB and WNTR have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CWEB has higher volatility (15.76%) compared to WNTR (14.85%). In terms of maximum drawdown, CWEB dropped -98.18% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 107.38% vs -33.46% for CWEB. On fees, WNTR is cheaper at 1.00% per year. On volatility, WNTR has been the lower-risk option at 14.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, WNTR has performed better with a 107.38% return vs -33.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WNTR is cheaper with a 1.00% expense ratio, compared with 1.30% for CWEB.
WNTR has the higher dividend yield at 107.02%, compared with 5.68% for CWEB.
CWEB is categorized as China Equities, while WNTR is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 1.30% for CWEB and 1.00% for WNTR.
WNTR currently has the higher Sharpe Ratio (2.12 vs -0.67), 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.
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