GLOW vs. WNTR

Last updated Aug 2, 2026

GLOW (VictoryShares WestEnd Global Equity ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - GLOW is a Global Equities fund actively managed by VictoryShares, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, GLOW returned 23.53% vs 107.38% for WNTR. Their -0.45 correlation means they have often moved in opposite directions in the past. GLOW charges 0.72%/yr vs 1.00%/yr for WNTR.

Performance

GLOW vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares WestEnd Global Equity ETF (GLOW) and YieldMax MSTR Short Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GLOW having a 11.30% return and WNTR slightly lower at 10.75%.

GLOW

• 1D: -0.18%
• 1M: -0.86%
• 6M: 8.35%
• YTD: 11.30%
• 1Y: 23.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.70%

WNTR

• 1D: 3.26%
• 1M: 8.13%
• 6M: 14.92%
• YTD: 10.75%
• 1Y: 107.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.89%

*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)
GLOW VictoryShares WestEnd Global Equity ETF	$210.60K	$374.13K	$387.50K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$4.02M	$3.86M	$3.95M

GLOW vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
GLOW VictoryShares WestEnd Global Equity ETF	11.30%	19.43%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.75%	52.78%

Correlation

The correlation between GLOW 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	-0.45

Return for Risk

GLOW vs. WNTR — Risk / Return Rank

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

GLOW

GLOW Risk / Return Rank: 74
GLOW Sharpe Ratio Rank: 75
GLOW Sortino Ratio Rank: 75
GLOW Omega Ratio Rank: 73
GLOW Calmar Ratio Rank: 68
GLOW Martin Ratio Rank: 78

WNTR

WNTR Risk / Return Rank: 75
WNTR Sharpe Ratio Rank: 88
WNTR Sortino Ratio Rank: 74
WNTR Omega Ratio Rank: 77
WNTR Calmar Ratio Rank: 77
WNTR Martin Ratio Rank: 58

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.

GLOW vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares WestEnd Global Equity ETF (GLOW) 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.

	GLOW	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.12	-0.40
Sortino ratio: Return per unit of downside risk	2.43	2.37	+0.06
Omega ratio: Gain probability vs. loss probability	1.31	1.32	-0.01
Calmar ratio: Return relative to maximum drawdown	2.41	2.71	-0.31
Martin ratio: Return relative to average drawdown	10.06	6.87	+3.19

GLOW vs. WNTR - Sharpe Ratio Comparison

The current GLOW Sharpe Ratio is 1.72, which is comparable to the WNTR Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of GLOW 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

GLOW vs. WNTR - Drawdown Comparison

The maximum GLOW drawdown since its inception was -15.58%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for GLOW and WNTR.

Drawdown Indicators

	GLOW	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-42.65%	+27.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-42.65%	+33.32%
Current Drawdown Current decline from peak	-1.59%	-9.64%	+8.05%
Average Drawdown Average peak-to-trough decline	-1.77%	-20.18%	+18.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	16.81%	-14.58%

Volatility

GLOW vs. WNTR - Volatility Comparison

The current volatility for VictoryShares WestEnd Global Equity ETF (GLOW) is 3.45%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 14.85%. This indicates that GLOW 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

	GLOW	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	14.85%	-11.40%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	47.43%	-36.65%
Volatility (1Y) Calculated over the trailing 1-year period	13.07%	54.68%	-41.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.13%	53.42%	-38.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.13%	53.42%	-38.29%

GLOW vs. WNTR - Expense Ratio Comparison

GLOW has a 0.72% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

GLOW vs. WNTR - Dividend Comparison

GLOW's dividend yield for the trailing twelve months is around 1.24%, less than WNTR's 107.02% yield.

Position	TTM	2025	2024
GLOW VictoryShares WestEnd Global Equity ETF	1.24%	1.33%	1.18%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.02%	58.56%	0.00%

Frequently Asked Questions

Can I hold both GLOW and WNTR in my portfolio?

GLOW 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, GLOW or WNTR?

WNTR has higher volatility (14.85%) compared to GLOW (3.45%). In terms of maximum drawdown, GLOW dropped -15.58% vs WNTR's -42.65%.

Which ETF is better, GLOW or WNTR?

On 1-year performance, WNTR leads with 107.38% vs 23.53% for GLOW. On fees, GLOW is cheaper at 0.72% per year. On volatility, GLOW has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLOW or WNTR?

Over the 1-year period, WNTR has performed better with a 107.38% return vs 23.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLOW or WNTR?

GLOW is cheaper with a 0.72% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 107.02%, compared with 1.24% for GLOW.

What is the main difference between GLOW and WNTR?

GLOW is categorized as Global Equities, while WNTR is Derivative Income. They also come from different issuers: VictoryShares and YieldMax. Their fees differ too: 0.72% for GLOW and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.12 vs 1.72), 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.