FLCC vs. WNTR

Last updated Aug 6, 2026

FLCC (Federated Hermes MDT Large Cap Core ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - FLCC is a Large Cap Blend Equities fund actively managed by Federated, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, FLCC returned 20.55% vs 100.15% for WNTR. Their -0.47 correlation means they have often moved in opposite directions in the past. FLCC charges 0.29%/yr vs 1.00%/yr for WNTR.

Performance

FLCC vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Large Cap Core ETF (FLCC) and YieldMax MSTR Short 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, FLCC achieves a 13.85% return, which is significantly higher than WNTR's 6.73% return.

FLCC

• 1D: -0.13%
• 1M: 3.84%
• 6M: 15.01%
• YTD: 13.85%
• 1Y: 20.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.53%

WNTR

• 1D: -1.10%
• 1M: 5.18%
• 6M: -1.23%
• YTD: 6.73%
• 1Y: 100.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 43.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLCC Federated Hermes MDT Large Cap Core ETF	$1.31M	$888.61K	$799.82K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$4.24M	$3.75M	$3.99M

FLCC vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
FLCC Federated Hermes MDT Large Cap Core ETF	13.85%	18.35%
WNTR YieldMax MSTR Short Option Income Strategy ETF	6.73%	52.78%

Correlation

The correlation between FLCC and WNTR is -0.46, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.46
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.47

Return for Risk

FLCC vs. WNTR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLCC

FLCC Risk / Return Rank: 56
FLCC Sharpe Ratio Rank: 56
FLCC Sortino Ratio Rank: 54
FLCC Omega Ratio Rank: 54
FLCC Calmar Ratio Rank: 55
FLCC Martin Ratio Rank: 62

WNTR

WNTR Risk / Return Rank: 58
WNTR Sharpe Ratio Rank: 70
WNTR Sortino Ratio Rank: 55
WNTR Omega Ratio Rank: 58
WNTR Calmar Ratio Rank: 58
WNTR Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLCC vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Large Cap Core ETF (FLCC) and YieldMax MSTR Short 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.

	FLCC	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.85	-0.28
Sortino ratio: Return per unit of downside risk	2.18	2.18	0.00
Omega ratio: Gain probability vs. loss probability	1.28	1.29	-0.01
Calmar ratio: Return relative to maximum drawdown	2.22	2.36	-0.14
Martin ratio: Return relative to average drawdown	8.58	5.96	+2.62

FLCC vs. WNTR - Sharpe Ratio Comparison

The current FLCC Sharpe Ratio is 1.57, which is comparable to the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of FLCC 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

FLCC vs. WNTR - Drawdown Comparison

The maximum FLCC drawdown since its inception was -19.18%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for FLCC and WNTR.

Drawdown Indicators

	FLCC	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-19.18%	-42.65%	+23.47%
Max Drawdown (1Y) Largest decline over 1 year	-9.31%	-42.65%	+33.34%
Current Drawdown Current decline from peak	-0.13%	-12.93%	+12.80%
Average Drawdown Average peak-to-trough decline	-2.27%	-20.10%	+17.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	16.86%	-14.46%

Volatility

FLCC vs. WNTR - Volatility Comparison

The current volatility for Federated Hermes MDT Large Cap Core ETF (FLCC) is 3.69%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 12.79%. This indicates that FLCC 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

	FLCC	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	12.79%	-9.10%
Volatility (6M) Calculated over the trailing 6-month period	10.19%	46.85%	-36.66%
Volatility (1Y) Calculated over the trailing 1-year period	13.20%	54.57%	-41.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	53.24%	-36.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	53.24%	-36.15%

FLCC vs. WNTR - Expense Ratio Comparison

FLCC has a 0.29% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

FLCC vs. WNTR - Dividend Comparison

FLCC's dividend yield for the trailing twelve months is around 0.44%, less than WNTR's 111.06% yield.

Position	TTM	2025	2024
FLCC Federated Hermes MDT Large Cap Core ETF	0.44%	0.50%	0.20%
WNTR YieldMax MSTR Short Option Income Strategy ETF	111.06%	58.56%	0.00%

Frequently Asked Questions

Can I hold both FLCC and WNTR in my portfolio?

FLCC and WNTR have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLCC or WNTR?

WNTR has higher volatility (12.79%) compared to FLCC (3.69%). In terms of maximum drawdown, FLCC dropped -19.18% vs WNTR's -42.65%.

Which ETF is better, FLCC or WNTR?

On 1-year performance, WNTR leads with 100.15% vs 20.55% for FLCC. On fees, FLCC is cheaper at 0.29% per year. On volatility, FLCC has been the lower-risk option at 3.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLCC or WNTR?

Over the 1-year period, WNTR has performed better with a 100.15% return vs 20.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLCC or WNTR?

FLCC is cheaper with a 0.29% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 111.06%, compared with 0.44% for FLCC.

What is the main difference between FLCC and WNTR?

FLCC is categorized as Large Cap Blend Equities, while WNTR is Derivative Income. They also come from different issuers: Federated and YieldMax. Their fees differ too: 0.29% for FLCC and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.85 vs 1.57), 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.