GDXJ vs. WNTR

Last updated Jun 26, 2026

GDXJ (VanEck Junior Gold Miners ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while WNTR is a Derivative Income fund actively managed by YieldMax. GDXJ is passively managed, while WNTR is actively managed. Over the past year, GDXJ returned 49.98% vs 115.98% for WNTR. At a correlation of -0.22, they often move in opposite directions. GDXJ charges 0.52%/yr vs 1.01%/yr for WNTR.

Performance

GDXJ vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Junior Gold Miners ETF (GDXJ) 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, GDXJ achieves a -13.96% return, which is significantly lower than WNTR's 17.65% return.

GDXJ

• 1D: 1.89%
• 1M: -16.08%
• YTD: -13.96%
• 6M: -17.71%
• 1Y: 49.98%
• 3Y*: 42.73%
• 5Y*: 17.45%
• 10Y*: 10.61%

WNTR

• 1D: 6.51%
• 1M: 45.64%
• YTD: 17.65%
• 6M: 21.49%
• 1Y: 115.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXJ vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
GDXJ VanEck Junior Gold Miners ETF	-13.96%	108.90%
WNTR YieldMax Short MSTR Option Income Strategy ETF	17.65%	52.78%

Correlation

The correlation between GDXJ and WNTR is -0.29, 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	-0.29
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.22

Return for Risk

GDXJ vs. WNTR — Risk / Return Rank

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

GDXJ

GDXJ Risk / Return Rank: 29
GDXJ Sharpe Ratio Rank: 29
GDXJ Sortino Ratio Rank: 28
GDXJ Omega Ratio Rank: 31
GDXJ Calmar Ratio Rank: 28
GDXJ Martin Ratio Rank: 26

WNTR

WNTR Risk / Return Rank: 63
WNTR Sharpe Ratio Rank: 80
WNTR Sortino Ratio Rank: 60
WNTR Omega Ratio Rank: 64
WNTR Calmar Ratio Rank: 64
WNTR Martin Ratio Rank: 47

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.

GDXJ vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) 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.

	GDXJ	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.95	2.20	-1.24
Sortino ratio: Return per unit of downside risk	1.42	2.46	-1.04
Omega ratio: Gain probability vs. loss probability	1.19	1.33	-0.14
Calmar ratio: Return relative to maximum drawdown	1.27	2.73	-1.46
Martin ratio: Return relative to average drawdown	3.24	6.99	-3.75

GDXJ vs. WNTR - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 0.95, which is lower than the WNTR Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of GDXJ 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

GDXJ vs. WNTR - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for GDXJ and WNTR.

Drawdown Indicators

	GDXJ	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-88.66%	-42.65%	-46.01%
Max Drawdown (1Y) Largest decline over 1 year	-39.47%	-42.65%	+3.18%
Max Drawdown (3Y) Largest decline over 3 years	-39.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.77%	—	—
Current Drawdown Current decline from peak	-37.32%	-4.02%	-33.30%
Average Drawdown Average peak-to-trough decline	-60.39%	-20.87%	-39.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.45%	16.66%	-1.21%

Volatility

GDXJ vs. WNTR - Volatility Comparison

VanEck Junior Gold Miners ETF (GDXJ) has a higher volatility of 20.08% compared to YieldMax Short MSTR Option Income Strategy ETF (WNTR) at 18.14%. This indicates that GDXJ'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

	GDXJ	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.08%	18.14%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	44.39%	46.41%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	52.60%	53.16%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.76%	53.31%	-11.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.31%	53.31%	-9.00%

GDXJ vs. WNTR - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

GDXJ vs. WNTR - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.71%, less than WNTR's 94.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDXJ VanEck Junior Gold Miners ETF	2.71%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%
WNTR YieldMax Short MSTR Option Income Strategy ETF	94.34%	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 GDXJ and WNTR in my portfolio?

GDXJ and WNTR have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXJ or WNTR?

GDXJ has higher volatility (20.08%) compared to WNTR (18.14%). In terms of maximum drawdown, GDXJ dropped -88.66% vs WNTR's -42.65%.

Which ETF is better, GDXJ or WNTR?

On 1-year performance, WNTR leads with 115.98% vs 49.98% for GDXJ. On fees, GDXJ is cheaper at 0.52% per year. On volatility, WNTR has been the lower-risk option at 18.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXJ or WNTR?

Over the 1-year period, WNTR has performed better with a 115.98% return vs 49.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXJ or WNTR?

GDXJ is cheaper with a 0.52% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 94.34%, compared with 2.71% for GDXJ.

What is the main difference between GDXJ and WNTR?

GDXJ is categorized as Gold, while WNTR is Derivative Income. They also come from different issuers: VanEck and YieldMax. Their fees differ too: 0.52% for GDXJ and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.20 vs 0.95), 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.