EEMO vs. WNTR

Last updated Jul 17, 2026

EEMO (Invesco S&P Emerging Markets Momentum ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - EEMO is a Momentum fund tracking the S&P Momentum Emerging Plus LargeMidCap Index, while WNTR is a Derivative Income fund actively managed by YieldMax. EEMO is passively managed, while WNTR is actively managed. Over the past year, EEMO returned 23.55% vs 127.90% for WNTR. At a correlation of -0.33, they often move in opposite directions. EEMO charges 0.31%/yr vs 1.01%/yr for WNTR.

Performance

EEMO vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Momentum ETF (EEMO) 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, EEMO achieves a 18.93% return, which is significantly higher than WNTR's 9.49% return.

EEMO

• 1D: -4.15%
• 1M: -13.95%
• 6M: 12.58%
• YTD: 18.93%
• 1Y: 23.55%
• 3Y*: 15.80%
• 5Y*: 4.09%
• 10Y*: 6.73%

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)

EEMO vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
EEMO Invesco S&P Emerging Markets Momentum ETF	18.93%	17.30%
WNTR YieldMax Short MSTR Option Income Strategy ETF	9.49%	52.78%

Correlation

The correlation between EEMO and WNTR is -0.31, 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	-0.31
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.33

Return for Risk

EEMO vs. WNTR — Risk / Return Rank

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

EEMO

EEMO Risk / Return Rank: 29
EEMO Sharpe Ratio Rank: 24
EEMO Sortino Ratio Rank: 25
EEMO Omega Ratio Rank: 30
EEMO Calmar Ratio Rank: 29
EEMO Martin Ratio Rank: 37

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.

EEMO vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Momentum ETF (EEMO) 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.

	EEMO	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.71	2.39	-1.68
Sortino ratio: Return per unit of downside risk	1.15	2.56	-1.40
Omega ratio: Gain probability vs. loss probability	1.17	1.35	-0.18
Calmar ratio: Return relative to maximum drawdown	1.21	3.02	-1.81
Martin ratio: Return relative to average drawdown	4.63	7.72	-3.10

EEMO vs. WNTR - Sharpe Ratio Comparison

The current EEMO Sharpe Ratio is 0.71, which is lower than the WNTR Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of EEMO 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

EEMO vs. WNTR - Drawdown Comparison

The maximum EEMO drawdown since its inception was -48.47%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for EEMO and WNTR.

Drawdown Indicators

	EEMO	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-48.47%	-42.65%	-5.82%
Max Drawdown (1Y) Largest decline over 1 year	-19.53%	-42.65%	+23.12%
Max Drawdown (3Y) Largest decline over 3 years	-26.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.57%	—	—
Current Drawdown Current decline from peak	-19.53%	-10.67%	-8.86%
Average Drawdown Average peak-to-trough decline	-20.08%	-20.46%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	16.63%	-11.53%

Volatility

EEMO vs. WNTR - Volatility Comparison

Invesco S&P Emerging Markets Momentum ETF (EEMO) and YieldMax Short MSTR Option Income Strategy ETF (WNTR) have volatilities of 17.83% 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

	EEMO	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.83%	17.89%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	32.11%	47.05%	-14.94%
Volatility (1Y) Calculated over the trailing 1-year period	33.33%	53.81%	-20.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.77%	53.49%	-31.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.74%	53.49%	-30.75%

EEMO vs. WNTR - Expense Ratio Comparison

EEMO has a 0.31% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

EEMO vs. WNTR - Dividend Comparison

EEMO's dividend yield for the trailing twelve months is around 1.91%, less than WNTR's 106.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMO Invesco S&P Emerging Markets Momentum ETF	1.91%	2.31%	2.57%	3.65%	3.82%	1.51%	1.53%	2.13%	13.10%	5.13%	1.55%	2.92%
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.86%	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 EEMO and WNTR in my portfolio?

EEMO and WNTR have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMO or WNTR?

WNTR has higher volatility (17.89%) compared to EEMO (17.83%). In terms of maximum drawdown, EEMO dropped -48.47% vs WNTR's -42.65%.

Which ETF is better, EEMO or WNTR?

On 1-year performance, WNTR leads with 127.90% vs 23.55% for EEMO. On fees, EEMO is cheaper at 0.31% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMO or WNTR?

Over the 1-year period, WNTR has performed better with a 127.90% return vs 23.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMO or WNTR?

EEMO is cheaper with a 0.31% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 106.86%, compared with 1.91% for EEMO.

What is the main difference between EEMO and WNTR?

EEMO is categorized as Momentum, while WNTR is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.31% for EEMO and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.39 vs 0.71), 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.