FLYU vs. WNTR

Last updated Jun 25, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - FLYU is a Leveraged Equities fund tracking the MerQube MicroSectors U.S. Travel Index, while WNTR is a Derivative Income fund actively managed by YieldMax. FLYU is passively managed, while WNTR is actively managed. Over the past year, FLYU returned 11.60% vs 97.02% for WNTR. At a correlation of -0.29, they often move in opposite directions. FLYU charges 0.95%/yr vs 1.01%/yr for WNTR.

Performance

FLYU vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) 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, FLYU achieves a -3.43% return, which is significantly lower than WNTR's 10.46% return.

FLYU

• 1D: 9.25%
• 1M: 34.50%
• YTD: -3.43%
• 6M: -8.68%
• 1Y: 11.60%
• 3Y*: 12.63%
• 5Y*: —
• 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)

FLYU vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
FLYU MicroSectors Travel 3X Leveraged ETNs	-3.43%	31.73%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.46%	52.78%

Correlation

The correlation between FLYU and WNTR is -0.23, 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	-0.23
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.29

Return for Risk

FLYU vs. WNTR — Risk / Return Rank

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

FLYU

FLYU Risk / Return Rank: 13
FLYU Sharpe Ratio Rank: 11
FLYU Sortino Ratio Rank: 16
FLYU Omega Ratio Rank: 15
FLYU Calmar Ratio Rank: 11
FLYU Martin Ratio Rank: 11

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.

FLYU vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) 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.

	FLYU	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.16	1.85	-1.69
Sortino ratio: Return per unit of downside risk	0.79	2.20	-1.41
Omega ratio: Gain probability vs. loss probability	1.09	1.30	-0.21
Calmar ratio: Return relative to maximum drawdown	0.22	2.29	-2.06
Martin ratio: Return relative to average drawdown	0.46	5.85	-5.39

FLYU vs. WNTR - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is 0.16, which is lower than the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of FLYU 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

FLYU vs. WNTR - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for FLYU and WNTR.

Drawdown Indicators

	FLYU	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-42.65%	-26.35%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-42.65%	-9.68%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	—	—
Current Drawdown Current decline from peak	-23.40%	-9.88%	-13.52%
Average Drawdown Average peak-to-trough decline	-26.54%	-20.93%	-5.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.29%	16.70%	+8.59%

Volatility

FLYU vs. WNTR - Volatility Comparison

MicroSectors Travel 3X Leveraged ETNs (FLYU) has a higher volatility of 24.87% compared to YieldMax Short MSTR Option Income Strategy ETF (WNTR) at 17.54%. This indicates that FLYU's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYU	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.87%	17.54%	+7.33%
Volatility (6M) Calculated over the trailing 6-month period	60.56%	45.99%	+14.57%
Volatility (1Y) Calculated over the trailing 1-year period	75.41%	52.83%	+22.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.30%	53.10%	+30.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.30%	53.10%	+30.20%

FLYU vs. WNTR - Expense Ratio Comparison

FLYU has a 0.95% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

FLYU vs. WNTR - Dividend Comparison

FLYU has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 96.66%.

Position	TTM	2025
FLYU MicroSectors Travel 3X Leveraged ETNs	0.00%	0.00%
WNTR YieldMax Short MSTR Option Income Strategy ETF	96.66%	58.56%

Frequently Asked Questions

Can I hold both FLYU and WNTR in my portfolio?

FLYU and WNTR have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or WNTR?

FLYU has higher volatility (24.87%) compared to WNTR (17.54%). In terms of maximum drawdown, FLYU dropped -69.00% vs WNTR's -42.65%.

Which ETF is better, FLYU or WNTR?

On 1-year performance, WNTR leads with 97.02% vs 11.60% for FLYU. On fees, FLYU is cheaper at 0.95% per year. On volatility, WNTR has been the lower-risk option at 17.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or WNTR?

Over the 1-year period, WNTR has performed better with a 97.02% return vs 11.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or WNTR?

FLYU is cheaper with a 0.95% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 96.66%, compared with 0.00% for FLYU.

What is the main difference between FLYU and WNTR?

FLYU is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: REX and YieldMax. Their fees differ too: 0.95% for FLYU and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.85 vs 0.16), 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.