EQLT vs. WNTR

Last updated Jul 12, 2026

EQLT (iShares MSCI Emerging Markets Quality Factor ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - EQLT is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Quality Factor Select Index, while WNTR is a Derivative Income fund actively managed by YieldMax. EQLT is passively managed, while WNTR is actively managed. Over the past year, EQLT returned 48.20% vs 116.49% for WNTR. At a correlation of -0.40, they often move in opposite directions. EQLT charges 0.35%/yr vs 1.01%/yr for WNTR.

Performance

EQLT vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Quality Factor ETF (EQLT) 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, EQLT achieves a 26.29% return, which is significantly higher than WNTR's 8.06% return.

EQLT

• 1D: 0.24%
• 1M: -2.76%
• 6M: 21.68%
• YTD: 26.29%
• 1Y: 48.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: -0.43%
• 1M: 15.85%
• 6M: 10.45%
• YTD: 8.06%
• 1Y: 116.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EQLT vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
EQLT iShares MSCI Emerging Markets Quality Factor ETF	26.29%	26.52%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between EQLT and WNTR is -0.41, 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	-0.41
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.40

Return for Risk

EQLT vs. WNTR — Risk / Return Rank

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

EQLT

EQLT Risk / Return Rank: 83
EQLT Sharpe Ratio Rank: 83
EQLT Sortino Ratio Rank: 76
EQLT Omega Ratio Rank: 81
EQLT Calmar Ratio Rank: 87
EQLT Martin Ratio Rank: 86

WNTR

WNTR Risk / Return Rank: 65
WNTR Sharpe Ratio Rank: 81
WNTR Sortino Ratio Rank: 63
WNTR Omega Ratio Rank: 67
WNTR Calmar Ratio Rank: 65
WNTR Martin Ratio Rank: 49

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.

EQLT vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Quality Factor ETF (EQLT) 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.

	EQLT	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.06	+0.03
Sortino ratio: Return per unit of downside risk	2.71	2.34	+0.37
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio: Return relative to maximum drawdown	3.99	2.60	+1.39
Martin ratio: Return relative to average drawdown	14.15	6.69	+7.46

EQLT vs. WNTR - Sharpe Ratio Comparison

The current EQLT Sharpe Ratio is 2.09, which is comparable to the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of EQLT 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

EQLT vs. WNTR - Drawdown Comparison

The maximum EQLT drawdown since its inception was -17.38%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for EQLT and WNTR.

Drawdown Indicators

	EQLT	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-17.38%	-42.65%	+25.27%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-42.65%	+30.65%
Current Drawdown Current decline from peak	-5.80%	-11.84%	+6.04%
Average Drawdown Average peak-to-trough decline	-3.65%	-20.57%	+16.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	16.58%	-13.21%

Volatility

EQLT vs. WNTR - Volatility Comparison

The current volatility for iShares MSCI Emerging Markets Quality Factor ETF (EQLT) is 8.07%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that EQLT 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

	EQLT	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.07%	18.80%	-10.73%
Volatility (6M) Calculated over the trailing 6-month period	20.86%	47.57%	-26.71%
Volatility (1Y) Calculated over the trailing 1-year period	22.88%	53.81%	-30.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.24%	53.62%	-32.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.24%	53.62%	-32.38%

EQLT vs. WNTR - Expense Ratio Comparison

EQLT has a 0.35% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

EQLT vs. WNTR - Dividend Comparison

EQLT's dividend yield for the trailing twelve months is around 2.77%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024
EQLT iShares MSCI Emerging Markets Quality Factor ETF	2.77%	3.10%	0.51%
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	58.56%	0.00%

Frequently Asked Questions

Can I hold both EQLT and WNTR in my portfolio?

EQLT and WNTR have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQLT or WNTR?

WNTR has higher volatility (18.80%) compared to EQLT (8.07%). In terms of maximum drawdown, EQLT dropped -17.38% vs WNTR's -42.65%.

Which ETF is better, EQLT or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 48.20% for EQLT. On fees, EQLT is cheaper at 0.35% per year. On volatility, EQLT has been the lower-risk option at 8.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQLT or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 48.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQLT or WNTR?

EQLT is cheaper with a 0.35% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 104.11%, compared with 2.77% for EQLT.

What is the main difference between EQLT and WNTR?

EQLT is categorized as Emerging Markets Equities, while WNTR is Derivative Income. They also come from different issuers: iShares and YieldMax. Their fees differ too: 0.35% for EQLT and 1.01% for WNTR.

Which has better risk-adjusted returns?

EQLT currently has the higher Sharpe Ratio (2.09 vs 2.06), 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.