GEME vs. WNTR

Last updated Jul 17, 2026

GEME (Pacific North of South Global Emerging Markets Equity Active ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - GEME is a Emerging Markets Equities fund actively managed by Pacific AM, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, GEME returned 55.58% vs 127.90% for WNTR. At a correlation of -0.38, they often move in opposite directions. GEME charges 0.75%/yr vs 1.01%/yr for WNTR.

Performance

GEME vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacific North of South Global Emerging Markets Equity Active ETF (GEME) 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, GEME achieves a 28.13% return, which is significantly higher than WNTR's 9.49% return.

GEME

• 1D: -2.42%
• 1M: -6.15%
• 6M: 20.95%
• YTD: 28.13%
• 1Y: 55.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 2.96%
• 1M: 17.94%
• 6M: 21.62%
• YTD: 9.49%
• 1Y: 127.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GEME vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
GEME Pacific North of South Global Emerging Markets Equity Active ETF	28.13%	30.34%
WNTR YieldMax Short MSTR Option Income Strategy ETF	9.49%	52.78%

Correlation

The correlation between GEME and WNTR is -0.39, 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	-0.39
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.38

Return for Risk

GEME vs. WNTR — Risk / Return Rank

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

GEME

GEME Risk / Return Rank: 86
GEME Sharpe Ratio Rank: 89
GEME Sortino Ratio Rank: 80
GEME Omega Ratio Rank: 86
GEME Calmar Ratio Rank: 89
GEME Martin Ratio Rank: 86

WNTR

WNTR Risk / Return Rank: 73
WNTR Sharpe Ratio Rank: 90
WNTR Sortino Ratio Rank: 71
WNTR Omega Ratio Rank: 75
WNTR Calmar Ratio Rank: 74
WNTR Martin Ratio Rank: 56

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.

GEME vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacific North of South Global Emerging Markets Equity Active ETF (GEME) 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.

	GEME	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.39	-0.03
Sortino ratio: Return per unit of downside risk	2.88	2.56	+0.32
Omega ratio: Gain probability vs. loss probability	1.42	1.35	+0.07
Calmar ratio: Return relative to maximum drawdown	4.15	3.02	+1.14
Martin ratio: Return relative to average drawdown	14.06	7.72	+6.34

GEME vs. WNTR - Sharpe Ratio Comparison

The current GEME Sharpe Ratio is 2.36, which is comparable to the WNTR Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of GEME 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

GEME vs. WNTR - Drawdown Comparison

The maximum GEME drawdown since its inception was -16.86%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for GEME and WNTR.

Drawdown Indicators

	GEME	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-16.86%	-42.65%	+25.79%
Max Drawdown (1Y) Largest decline over 1 year	-13.46%	-42.65%	+29.19%
Current Drawdown Current decline from peak	-8.64%	-10.67%	+2.03%
Average Drawdown Average peak-to-trough decline	-2.54%	-20.46%	+17.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	16.63%	-12.67%

Volatility

GEME vs. WNTR - Volatility Comparison

The current volatility for Pacific North of South Global Emerging Markets Equity Active ETF (GEME) is 8.54%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.89%. This indicates that GEME 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

	GEME	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.54%	17.89%	-9.35%
Volatility (6M) Calculated over the trailing 6-month period	21.10%	47.05%	-25.95%
Volatility (1Y) Calculated over the trailing 1-year period	23.68%	53.81%	-30.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.06%	53.49%	-29.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.06%	53.49%	-29.43%

GEME vs. WNTR - Expense Ratio Comparison

GEME has a 0.75% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

GEME vs. WNTR - Dividend Comparison

GEME's dividend yield for the trailing twelve months is around 5.47%, less than WNTR's 106.86% yield.

Position	TTM	2025
GEME Pacific North of South Global Emerging Markets Equity Active ETF	5.47%	7.01%
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.86%	58.56%

Frequently Asked Questions

Can I hold both GEME and WNTR in my portfolio?

GEME and WNTR have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GEME or WNTR?

WNTR has higher volatility (17.89%) compared to GEME (8.54%). In terms of maximum drawdown, GEME dropped -16.86% vs WNTR's -42.65%.

Which ETF is better, GEME or WNTR?

On 1-year performance, WNTR leads with 127.90% vs 55.58% for GEME. On fees, GEME is cheaper at 0.75% per year. On volatility, GEME has been the lower-risk option at 8.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GEME or WNTR?

Over the 1-year period, WNTR has performed better with a 127.90% return vs 55.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GEME or WNTR?

GEME is cheaper with a 0.75% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 106.86%, compared with 5.47% for GEME.

What is the main difference between GEME and WNTR?

GEME is categorized as Emerging Markets Equities, while WNTR is Derivative Income. They also come from different issuers: Pacific AM and YieldMax. Their fees differ too: 0.75% for GEME and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.39 vs 2.36), 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.