FGSI vs. WNTR

Last updated Jul 2, 2026

FGSI (First Trust Vest Growth Strength & Target Income ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, FGSI returned 9.08% vs 96.96% for WNTR. At a correlation of -0.42, they often move in opposite directions. FGSI charges 0.85%/yr vs 1.01%/yr for WNTR.

Performance

FGSI vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Vest Growth Strength & Target Income ETF (FGSI) 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, FGSI achieves a 6.03% return, which is significantly lower than WNTR's 9.66% return.

FGSI

• 1D: 1.53%
• 1M: -0.53%
• YTD: 6.03%
• 6M: 6.03%
• 1Y: 9.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: -4.55%
• 1M: 31.38%
• YTD: 9.66%
• 6M: 9.66%
• 1Y: 96.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FGSI vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
FGSI First Trust Vest Growth Strength & Target Income ETF	6.03%	4.53%
WNTR YieldMax Short MSTR Option Income Strategy ETF	9.66%	83.58%

Correlation

The correlation between FGSI 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 Jun 26, 2025	-0.42

Return for Risk

FGSI vs. WNTR — Risk / Return Rank

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

FGSI

FGSI Risk / Return Rank: 24
FGSI Sharpe Ratio Rank: 23
FGSI Sortino Ratio Rank: 22
FGSI Omega Ratio Rank: 21
FGSI Calmar Ratio Rank: 26
FGSI Martin Ratio Rank: 29

WNTR

WNTR Risk / Return Rank: 53
WNTR Sharpe Ratio Rank: 65
WNTR Sortino Ratio Rank: 51
WNTR Omega Ratio Rank: 54
WNTR Calmar Ratio Rank: 54
WNTR Martin Ratio Rank: 42

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.

FGSI vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Vest Growth Strength & Target Income ETF (FGSI) 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.

	FGSI	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.73	1.82	-1.09
Sortino ratio: Return per unit of downside risk	1.10	2.17	-1.08
Omega ratio: Gain probability vs. loss probability	1.13	1.29	-0.16
Calmar ratio: Return relative to maximum drawdown	1.11	2.29	-1.18
Martin ratio: Return relative to average drawdown	3.55	5.89	-2.34

FGSI vs. WNTR - Sharpe Ratio Comparison

The current FGSI Sharpe Ratio is 0.73, which is lower than the WNTR Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of FGSI 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

FGSI vs. WNTR - Drawdown Comparison

The maximum FGSI drawdown since its inception was -8.25%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for FGSI and WNTR.

Drawdown Indicators

	FGSI	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-8.25%	-42.65%	+34.40%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-42.65%	+34.40%
Current Drawdown Current decline from peak	-0.53%	-10.54%	+10.01%
Average Drawdown Average peak-to-trough decline	-1.92%	-20.69%	+18.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	16.68%	-14.12%

Volatility

FGSI vs. WNTR - Volatility Comparison

The current volatility for First Trust Vest Growth Strength & Target Income ETF (FGSI) is 4.02%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 20.51%. This indicates that FGSI 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

	FGSI	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	20.51%	-16.49%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	47.31%	-37.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.53%	53.75%	-41.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.50%	53.64%	-41.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.50%	53.64%	-41.14%

FGSI vs. WNTR - Expense Ratio Comparison

FGSI has a 0.85% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

FGSI vs. WNTR - Dividend Comparison

FGSI's dividend yield for the trailing twelve months is around 8.24%, less than WNTR's 101.22% yield.

Position	TTM	2025
FGSI First Trust Vest Growth Strength & Target Income ETF	8.24%	4.20%
WNTR YieldMax Short MSTR Option Income Strategy ETF	101.22%	58.56%

Frequently Asked Questions

Can I hold both FGSI and WNTR in my portfolio?

FGSI 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, FGSI or WNTR?

WNTR has higher volatility (20.51%) compared to FGSI (4.02%). In terms of maximum drawdown, FGSI dropped -8.25% vs WNTR's -42.65%.

Which ETF is better, FGSI or WNTR?

On 1-year performance, WNTR leads with 96.96% vs 9.08% for FGSI. On fees, FGSI is cheaper at 0.85% per year. On volatility, FGSI has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FGSI or WNTR?

Over the 1-year period, WNTR has performed better with a 96.96% return vs 9.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FGSI or WNTR?

FGSI is cheaper with a 0.85% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 101.22%, compared with 8.24% for FGSI.

What is the main difference between FGSI and WNTR?

They also come from different issuers: First Trust and YieldMax. Their fees differ too: 0.85% for FGSI and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.82 vs 0.73), 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.