FLJH vs. WNTR

Last updated Jun 25, 2026

FLJH (Franklin FTSE Japan Hedged ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - FLJH is a Japan Equities fund tracking the FTSE Japan RIC Capped Hedged to USD Net Tax Index, while WNTR is a Derivative Income fund actively managed by YieldMax. FLJH is passively managed, while WNTR is actively managed. Over the past year, FLJH returned 47.18% vs 97.02% for WNTR. At a correlation of -0.27, they often move in opposite directions. FLJH charges 0.09%/yr vs 1.01%/yr for WNTR.

Performance

FLJH vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Japan Hedged ETF (FLJH) 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, FLJH achieves a 20.52% return, which is significantly higher than WNTR's 10.46% return.

FLJH

• 1D: 0.20%
• 1M: 2.90%
• YTD: 20.52%
• 6M: 21.03%
• 1Y: 47.18%
• 3Y*: 27.21%
• 5Y*: 20.82%
• 10Y*: —

WNTR

• 1D: 6.01%
• 1M: 37.47%
• YTD: 10.46%
• 6M: 14.06%
• 1Y: 97.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLJH vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
FLJH Franklin FTSE Japan Hedged ETF	20.52%	23.40%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.46%	52.78%

Correlation

The correlation between FLJH and WNTR is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.27

Return for Risk

FLJH vs. WNTR — Risk / Return Rank

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

FLJH

FLJH Risk / Return Rank: 86
FLJH Sharpe Ratio Rank: 86
FLJH Sortino Ratio Rank: 83
FLJH Omega Ratio Rank: 85
FLJH Calmar Ratio Rank: 86
FLJH Martin Ratio Rank: 87

WNTR

WNTR Risk / Return Rank: 51
WNTR Sharpe Ratio Rank: 63
WNTR Sortino Ratio Rank: 49
WNTR Omega Ratio Rank: 52
WNTR Calmar Ratio Rank: 51
WNTR Martin Ratio Rank: 40

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.

FLJH vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Japan Hedged ETF (FLJH) 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.

	FLJH	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	2.50	1.85	+0.65
Sortino ratio: Return per unit of downside risk	3.32	2.20	+1.11
Omega ratio: Gain probability vs. loss probability	1.46	1.30	+0.16
Calmar ratio: Return relative to maximum drawdown	4.39	2.29	+2.10
Martin ratio: Return relative to average drawdown	16.90	5.85	+11.06

FLJH vs. WNTR - Sharpe Ratio Comparison

The current FLJH Sharpe Ratio is 2.50, which is higher than the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of FLJH 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

FLJH vs. WNTR - Drawdown Comparison

The maximum FLJH drawdown since its inception was -31.51%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for FLJH and WNTR.

Drawdown Indicators

	FLJH	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-31.51%	-42.65%	+11.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-42.65%	+31.85%
Max Drawdown (3Y) Largest decline over 3 years	-20.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	—	—
Current Drawdown Current decline from peak	-3.81%	-9.88%	+6.07%
Average Drawdown Average peak-to-trough decline	-5.29%	-20.93%	+15.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	16.70%	-13.90%

Volatility

FLJH vs. WNTR - Volatility Comparison

The current volatility for Franklin FTSE Japan Hedged ETF (FLJH) is 7.13%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.54%. This indicates that FLJH 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

	FLJH	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.13%	17.54%	-10.41%
Volatility (6M) Calculated over the trailing 6-month period	14.64%	45.99%	-31.35%
Volatility (1Y) Calculated over the trailing 1-year period	18.98%	52.83%	-33.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	53.10%	-34.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.88%	53.10%	-33.22%

FLJH vs. WNTR - Expense Ratio Comparison

FLJH has a 0.09% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

FLJH vs. WNTR - Dividend Comparison

FLJH's dividend yield for the trailing twelve months is around 1.85%, less than WNTR's 96.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLJH Franklin FTSE Japan Hedged ETF	1.85%	3.90%	5.06%	25.59%	26.67%	1.29%	0.00%	0.00%	5.92%	0.10%
WNTR YieldMax Short MSTR Option Income Strategy ETF	96.66%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLJH and WNTR in my portfolio?

FLJH and WNTR have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLJH or WNTR?

WNTR has higher volatility (17.54%) compared to FLJH (7.13%). In terms of maximum drawdown, FLJH dropped -31.51% vs WNTR's -42.65%.

Which ETF is better, FLJH or WNTR?

On 1-year performance, WNTR leads with 97.02% vs 47.18% for FLJH. On fees, FLJH is cheaper at 0.09% per year. On volatility, FLJH has been the lower-risk option at 7.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLJH or WNTR?

Over the 1-year period, WNTR has performed better with a 97.02% return vs 47.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLJH or WNTR?

FLJH is cheaper with a 0.09% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 96.66%, compared with 1.85% for FLJH.

What is the main difference between FLJH and WNTR?

FLJH is categorized as Japan Equities, while WNTR is Derivative Income. They also come from different issuers: Franklin Templeton and YieldMax. Their fees differ too: 0.09% for FLJH and 1.01% for WNTR.

Which has better risk-adjusted returns?

FLJH currently has the higher Sharpe Ratio (2.50 vs 1.85), 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.