EQTY vs. WNTR

Last updated Jun 25, 2026

EQTY (Kovitz Core Equity ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - EQTY is a Large Cap Blend Equities fund tracking the NONE, while WNTR is a Derivative Income fund actively managed by YieldMax. EQTY is passively managed, while WNTR is actively managed. Over the past year, EQTY returned 11.16% vs 97.02% for WNTR. At a correlation of -0.41, they often move in opposite directions. EQTY charges 0.99%/yr vs 1.01%/yr for WNTR.

Performance

EQTY vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kovitz Core Equity ETF (EQTY) 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, EQTY achieves a 1.58% return, which is significantly lower than WNTR's 10.46% return.

EQTY

• 1D: 0.85%
• 1M: -0.40%
• YTD: 1.58%
• 6M: 0.79%
• 1Y: 11.16%
• 3Y*: 15.23%
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 6.01%
• 1M: 37.47%
• YTD: 10.46%
• 6M: 14.06%
• 1Y: 97.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EQTY vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
EQTY Kovitz Core Equity ETF	1.58%	14.65%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.46%	52.78%

Correlation

The correlation between EQTY and WNTR is -0.36, 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	-0.36
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.41

Return for Risk

EQTY vs. WNTR — Risk / Return Rank

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

EQTY

EQTY Risk / Return Rank: 25
EQTY Sharpe Ratio Rank: 26
EQTY Sortino Ratio Rank: 25
EQTY Omega Ratio Rank: 24
EQTY Calmar Ratio Rank: 22
EQTY Martin Ratio Rank: 28

WNTR

WNTR Risk / Return Rank: 51
WNTR Sharpe Ratio Rank: 63
WNTR Sortino Ratio Rank: 49
WNTR Omega Ratio Rank: 52
WNTR Calmar Ratio Rank: 51
WNTR Martin Ratio Rank: 40

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.

EQTY vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kovitz Core Equity ETF (EQTY) 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.

	EQTY	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.86	1.85	-0.99
Sortino ratio: Return per unit of downside risk	1.28	2.20	-0.92
Omega ratio: Gain probability vs. loss probability	1.16	1.30	-0.14
Calmar ratio: Return relative to maximum drawdown	0.95	2.29	-1.34
Martin ratio: Return relative to average drawdown	3.47	5.85	-2.37

EQTY vs. WNTR - Sharpe Ratio Comparison

The current EQTY Sharpe Ratio is 0.86, which is lower than the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of EQTY 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

EQTY vs. WNTR - Drawdown Comparison

The maximum EQTY drawdown since its inception was -17.28%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for EQTY and WNTR.

Drawdown Indicators

	EQTY	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-17.28%	-42.65%	+25.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-42.65%	+30.80%
Max Drawdown (3Y) Largest decline over 3 years	-17.28%	—	—
Current Drawdown Current decline from peak	-2.54%	-9.88%	+7.34%
Average Drawdown Average peak-to-trough decline	-2.69%	-20.93%	+18.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	16.70%	-13.48%

Volatility

EQTY vs. WNTR - Volatility Comparison

The current volatility for Kovitz Core Equity ETF (EQTY) is 4.25%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.54%. This indicates that EQTY 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

	EQTY	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	17.54%	-13.29%
Volatility (6M) Calculated over the trailing 6-month period	10.04%	45.99%	-35.95%
Volatility (1Y) Calculated over the trailing 1-year period	13.11%	52.83%	-39.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.98%	53.10%	-38.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.98%	53.10%	-38.12%

EQTY vs. WNTR - Expense Ratio Comparison

EQTY has a 0.99% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

EQTY vs. WNTR - Dividend Comparison

EQTY's dividend yield for the trailing twelve months is around 0.02%, less than WNTR's 96.66% yield.

Position	TTM	2025	2024	2023	2022
EQTY Kovitz Core Equity ETF	0.02%	0.02%	0.33%	0.26%	0.08%
WNTR YieldMax Short MSTR Option Income Strategy ETF	96.66%	58.56%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EQTY and WNTR in my portfolio?

EQTY and WNTR have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQTY or WNTR?

WNTR has higher volatility (17.54%) compared to EQTY (4.25%). In terms of maximum drawdown, EQTY dropped -17.28% vs WNTR's -42.65%.

Which ETF is better, EQTY or WNTR?

On 1-year performance, WNTR leads with 97.02% vs 11.16% for EQTY. On fees, EQTY is cheaper at 0.99% per year. On volatility, EQTY has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQTY or WNTR?

Over the 1-year period, WNTR has performed better with a 97.02% return vs 11.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQTY or WNTR?

EQTY is cheaper with a 0.99% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 96.66%, compared with 0.02% for EQTY.

What is the main difference between EQTY and WNTR?

EQTY is categorized as Large Cap Blend Equities, while WNTR is Derivative Income. They also come from different issuers: Kovitz and YieldMax. Their fees differ too: 0.99% for EQTY and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.85 vs 0.86), 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.