ESPO vs. WNTR
ESPO (VanEck Video Gaming and eSports ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index, while WNTR is a Derivative Income fund actively managed by YieldMax. ESPO is passively managed, while WNTR is actively managed. Over the past year, ESPO returned -19.58% vs 115.98% for WNTR. At a correlation of -0.36, they often move in opposite directions. ESPO charges 0.55%/yr vs 1.01%/yr for WNTR.
Performance
ESPO vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, ESPO achieves a -17.72% return, which is significantly lower than WNTR's 17.65% return.
ESPO
- 1D
- -1.06%
- 1M
- -3.82%
- YTD
- -17.72%
- 6M
- -18.33%
- 1Y
- -19.58%
- 3Y*
- 17.30%
- 5Y*
- 5.00%
- 10Y*
- —
WNTR
- 1D
- 6.51%
- 1M
- 45.64%
- YTD
- 17.65%
- 6M
- 21.49%
- 1Y
- 115.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ESPO vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | -17.72% | 14.79% |
WNTR YieldMax Short MSTR Option Income Strategy ETF | 17.65% | 52.78% |
Correlation
The correlation between ESPO and WNTR is -0.37, 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 | -0.37 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.36 |
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Return for Risk
ESPO vs. WNTR — Risk / Return Rank
ESPO
WNTR
ESPO vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Video Gaming and eSports ETF (ESPO) 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.
| ESPO | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.26 | ||
| Sortino ratioReturn per unit of downside risk | -3.89 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.33 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 2.73 | -3.40 |
| Martin ratioReturn relative to average drawdown | -1.17 | 6.99 | -8.16 |
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Drawdowns
ESPO vs. WNTR - Drawdown Comparison
The maximum ESPO drawdown since its inception was -50.99%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for ESPO and WNTR.
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Drawdown Indicators
| ESPO | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.99% | -42.65% | -8.34% |
Max Drawdown (1Y)Largest decline over 1 year | -29.43% | -42.65% | +13.22% |
Max Drawdown (3Y)Largest decline over 3 years | -29.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -48.33% | — | — |
Current DrawdownCurrent decline from peak | -29.43% | -4.02% | -25.41% |
Average DrawdownAverage peak-to-trough decline | -15.12% | -20.87% | +5.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.70% | 16.66% | +0.04% |
Volatility
ESPO vs. WNTR - Volatility Comparison
The current volatility for VanEck Video Gaming and eSports ETF (ESPO) is 4.34%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.14%. This indicates that ESPO 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.
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Volatility by Period
| ESPO | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 18.14% | -13.80% |
Volatility (6M)Calculated over the trailing 6-month period | 14.67% | 46.41% | -31.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.51% | 53.16% | -34.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 53.31% | -28.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.67% | 53.31% | -27.64% |
ESPO vs. WNTR - Expense Ratio Comparison
ESPO has a 0.55% expense ratio, which is lower than WNTR's 1.01% expense ratio.
Dividends
ESPO vs. WNTR - Dividend Comparison
ESPO's dividend yield for the trailing twelve months is around 1.51%, less than WNTR's 94.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | 1.51% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
WNTR YieldMax Short MSTR Option Income Strategy ETF | 94.34% | 58.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESPO and WNTR have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (18.14%) compared to ESPO (4.34%). In terms of maximum drawdown, ESPO dropped -50.99% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 115.98% vs -19.58% for ESPO. On fees, ESPO is cheaper at 0.55% per year. On volatility, ESPO has been the lower-risk option at 4.34%. 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 115.98% return vs -19.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESPO is cheaper with a 0.55% expense ratio, compared with 1.01% for WNTR.
WNTR has the higher dividend yield at 94.34%, compared with 1.51% for ESPO.
ESPO is categorized as Gaming, while WNTR is Derivative Income. They also come from different issuers: VanEck and YieldMax. Their fees differ too: 0.55% for ESPO and 1.01% for WNTR.
WNTR currently has the higher Sharpe Ratio (2.20 vs -1.06), 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.
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