EVSB vs. WNTR

Last updated Jul 17, 2026

EVSB (Eaton Vance Ultra-Short Income ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - EVSB is a Ultrashort Bond fund actively managed by Eaton Vance, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, EVSB returned 4.63% vs 127.90% for WNTR. At a correlation of -0.09, they often move in opposite directions. EVSB charges 0.17%/yr vs 1.01%/yr for WNTR.

Performance

EVSB vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Ultra-Short Income ETF (EVSB) 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, EVSB achieves a 2.18% return, which is significantly lower than WNTR's 9.49% return.

EVSB

• 1D: 0.01%
• 1M: 0.41%
• 6M: 2.08%
• YTD: 2.18%
• 1Y: 4.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

EVSB vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
EVSB Eaton Vance Ultra-Short Income ETF	2.18%	3.82%
WNTR YieldMax Short MSTR Option Income Strategy ETF	9.49%	52.78%

Correlation

The correlation between EVSB and WNTR is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.09

Return for Risk

EVSB vs. WNTR — Risk / Return Rank

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

EVSB

EVSB Risk / Return Rank: 99
EVSB Sharpe Ratio Rank: 99
EVSB Sortino Ratio Rank: 99
EVSB Omega Ratio Rank: 99
EVSB Calmar Ratio Rank: 99
EVSB Martin Ratio Rank: 99

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.

EVSB vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Ultra-Short Income ETF (EVSB) 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.

	EVSB	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	5.88	2.39	+3.48
Sortino ratio: Return per unit of downside risk	10.27	2.56	+7.71
Omega ratio: Gain probability vs. loss probability	2.63	1.35	+1.28
Calmar ratio: Return relative to maximum drawdown	18.30	3.02	+15.29
Martin ratio: Return relative to average drawdown	103.42	7.72	+95.70

EVSB vs. WNTR - Sharpe Ratio Comparison

The current EVSB Sharpe Ratio is 5.88, which is higher than the WNTR Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of EVSB 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

EVSB vs. WNTR - Drawdown Comparison

The maximum EVSB drawdown since its inception was -0.31%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for EVSB and WNTR.

Drawdown Indicators

	EVSB	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-0.31%	-42.65%	+42.34%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	-42.65%	+42.40%
Current Drawdown Current decline from peak	0.00%	-10.67%	+10.67%
Average Drawdown Average peak-to-trough decline	-0.02%	-20.46%	+20.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	16.63%	-16.59%

Volatility

EVSB vs. WNTR - Volatility Comparison

The current volatility for Eaton Vance Ultra-Short Income ETF (EVSB) is 0.21%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.89%. This indicates that EVSB 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

	EVSB	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.21%	17.89%	-17.68%
Volatility (6M) Calculated over the trailing 6-month period	0.56%	47.05%	-46.49%
Volatility (1Y) Calculated over the trailing 1-year period	0.79%	53.81%	-53.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.81%	53.49%	-52.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.81%	53.49%	-52.68%

EVSB vs. WNTR - Expense Ratio Comparison

EVSB has a 0.17% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

EVSB vs. WNTR - Dividend Comparison

EVSB's dividend yield for the trailing twelve months is around 4.57%, less than WNTR's 106.86% yield.

Position	TTM	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	4.57%	4.63%	5.18%	1.21%
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.86%	58.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVSB and WNTR in my portfolio?

EVSB and WNTR have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVSB or WNTR?

WNTR has higher volatility (17.89%) compared to EVSB (0.21%). In terms of maximum drawdown, EVSB dropped -0.31% vs WNTR's -42.65%.

Which ETF is better, EVSB or WNTR?

On 1-year performance, WNTR leads with 127.90% vs 4.63% for EVSB. On fees, EVSB is cheaper at 0.17% per year. On volatility, EVSB has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVSB or WNTR?

Over the 1-year period, WNTR has performed better with a 127.90% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVSB or WNTR?

EVSB is cheaper with a 0.17% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 106.86%, compared with 4.57% for EVSB.

What is the main difference between EVSB and WNTR?

EVSB is categorized as Ultrashort Bond, while WNTR is Derivative Income. They also come from different issuers: Eaton Vance and YieldMax. Their fees differ too: 0.17% for EVSB and 1.01% for WNTR.

Which has better risk-adjusted returns?

EVSB currently has the higher Sharpe Ratio (5.88 vs 2.39), 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.