FDTS vs. WNTR

Last updated Jul 12, 2026

FDTS (First Trust Developed Markets ex-US Small Cap AlphaDEX Fund) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - FDTS is a Foreign Small & Mid Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Small Cap Index, while WNTR is a Derivative Income fund actively managed by YieldMax. FDTS is passively managed, while WNTR is actively managed. Over the past year, FDTS returned 32.52% vs 116.49% for WNTR. At a correlation of -0.35, they often move in opposite directions. FDTS charges 0.80%/yr vs 1.01%/yr for WNTR.

Performance

FDTS vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) 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, FDTS achieves a 14.65% return, which is significantly higher than WNTR's 8.06% return.

FDTS

• 1D: 1.79%
• 1M: -3.48%
• 6M: 10.21%
• YTD: 14.65%
• 1Y: 32.52%
• 3Y*: 22.94%
• 5Y*: 10.73%
• 10Y*: 10.23%

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)

FDTS vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	14.65%	40.04%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between FDTS 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	-0.35

Return for Risk

FDTS vs. WNTR — Risk / Return Rank

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

FDTS

FDTS Risk / Return Rank: 62
FDTS Sharpe Ratio Rank: 66
FDTS Sortino Ratio Rank: 63
FDTS Omega Ratio Rank: 65
FDTS Calmar Ratio Rank: 64
FDTS Martin Ratio Rank: 54

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.

FDTS vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) 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.

	FDTS	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.06	-0.34
Sortino ratio: Return per unit of downside risk	2.36	2.34	+0.02
Omega ratio: Gain probability vs. loss probability	1.31	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	2.55	2.60	-0.05
Martin ratio: Return relative to average drawdown	7.48	6.69	+0.79

FDTS vs. WNTR - Sharpe Ratio Comparison

The current FDTS Sharpe Ratio is 1.72, which is comparable to the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of FDTS 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

FDTS vs. WNTR - Drawdown Comparison

The maximum FDTS drawdown since its inception was -51.26%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for FDTS and WNTR.

Drawdown Indicators

	FDTS	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-51.26%	-42.65%	-8.61%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-42.65%	+30.04%
Max Drawdown (3Y) Largest decline over 3 years	-13.19%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.26%	—	—
Current Drawdown Current decline from peak	-8.08%	-11.84%	+3.76%
Average Drawdown Average peak-to-trough decline	-10.63%	-20.57%	+9.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	16.58%	-12.29%

Volatility

FDTS vs. WNTR - Volatility Comparison

The current volatility for First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) is 7.43%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that FDTS 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

	FDTS	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	18.80%	-11.37%
Volatility (6M) Calculated over the trailing 6-month period	16.31%	47.57%	-31.26%
Volatility (1Y) Calculated over the trailing 1-year period	18.64%	53.81%	-35.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.47%	53.62%	-24.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.82%	53.62%	-28.80%

FDTS vs. WNTR - Expense Ratio Comparison

FDTS has a 0.80% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

FDTS vs. WNTR - Dividend Comparison

FDTS's dividend yield for the trailing twelve months is around 2.84%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	2.84%	2.94%	3.94%	2.90%	3.71%	3.01%	2.02%	2.30%	1.96%	2.08%	1.78%	1.73%
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	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 FDTS and WNTR in my portfolio?

FDTS 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, FDTS or WNTR?

WNTR has higher volatility (18.80%) compared to FDTS (7.43%). In terms of maximum drawdown, FDTS dropped -51.26% vs WNTR's -42.65%.

Which ETF is better, FDTS or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 32.52% for FDTS. On fees, FDTS is cheaper at 0.80% per year. On volatility, FDTS has been the lower-risk option at 7.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDTS or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 32.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDTS or WNTR?

FDTS is cheaper with a 0.80% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 104.11%, compared with 2.84% for FDTS.

What is the main difference between FDTS and WNTR?

FDTS is categorized as Foreign Small & Mid Cap Equities, while WNTR is Derivative Income. They also come from different issuers: First Trust and YieldMax. Their fees differ too: 0.80% for FDTS and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.06 vs 1.72), 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.