GSEU vs. WNTR

Last updated Jul 12, 2026

GSEU (Goldman Sachs ActiveBeta Europe Equity ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - GSEU is a Europe Equities fund tracking the Goldman Sachs ActiveBeta Europe Equity Index, while WNTR is a Derivative Income fund actively managed by YieldMax. GSEU is passively managed, while WNTR is actively managed. Over the past year, GSEU returned 17.90% vs 116.49% for WNTR. At a correlation of -0.33, they often move in opposite directions. GSEU charges 0.25%/yr vs 1.01%/yr for WNTR.

Performance

GSEU vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and YieldMax Short MSTR 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 GSEU having a 8.37% return and WNTR slightly lower at 8.06%.

GSEU

• 1D: 0.23%
• 1M: 0.37%
• 6M: 6.60%
• YTD: 8.37%
• 1Y: 17.90%
• 3Y*: 17.10%
• 5Y*: 8.71%
• 10Y*: 9.79%

WNTR

• 1D: -0.43%
• 1M: 15.85%
• 6M: 10.45%
• YTD: 8.06%
• 1Y: 116.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSEU vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	8.37%	20.55%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between GSEU and WNTR is -0.31, 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	-0.31
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.33

Return for Risk

GSEU vs. WNTR — Risk / Return Rank

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

GSEU

GSEU Risk / Return Rank: 36
GSEU Sharpe Ratio Rank: 37
GSEU Sortino Ratio Rank: 36
GSEU Omega Ratio Rank: 35
GSEU Calmar Ratio Rank: 34
GSEU Martin Ratio Rank: 41

WNTR

WNTR Risk / Return Rank: 65
WNTR Sharpe Ratio Rank: 81
WNTR Sortino Ratio Rank: 63
WNTR Omega Ratio Rank: 67
WNTR Calmar Ratio Rank: 65
WNTR Martin Ratio Rank: 49

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.

GSEU vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) 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.

	GSEU	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.07	2.06	-1.00
Sortino ratio: Return per unit of downside risk	1.57	2.34	-0.77
Omega ratio: Gain probability vs. loss probability	1.19	1.32	-0.12
Calmar ratio: Return relative to maximum drawdown	1.39	2.60	-1.21
Martin ratio: Return relative to average drawdown	5.23	6.69	-1.46

GSEU vs. WNTR - Sharpe Ratio Comparison

The current GSEU Sharpe Ratio is 1.07, which is lower than the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of GSEU 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

GSEU vs. WNTR - Drawdown Comparison

The maximum GSEU drawdown since its inception was -35.71%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for GSEU and WNTR.

Drawdown Indicators

	GSEU	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-35.71%	-42.65%	+6.94%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-42.65%	+30.75%
Max Drawdown (3Y) Largest decline over 3 years	-14.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.71%	—	—
Current Drawdown Current decline from peak	-1.34%	-11.84%	+10.50%
Average Drawdown Average peak-to-trough decline	-6.54%	-20.57%	+14.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	16.58%	-13.41%

Volatility

GSEU vs. WNTR - Volatility Comparison

The current volatility for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) is 4.50%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that GSEU 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

	GSEU	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	18.80%	-14.30%
Volatility (6M) Calculated over the trailing 6-month period	13.20%	47.57%	-34.37%
Volatility (1Y) Calculated over the trailing 1-year period	15.49%	53.81%	-38.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	53.62%	-36.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	53.62%	-35.95%

GSEU vs. WNTR - Expense Ratio Comparison

GSEU has a 0.25% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

GSEU vs. WNTR - Dividend Comparison

GSEU's dividend yield for the trailing twelve months is around 2.77%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	2.77%	2.72%	2.35%	3.41%	3.34%	2.71%	1.84%	3.69%	3.40%	2.51%	2.74%
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	58.56%	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 GSEU and WNTR in my portfolio?

GSEU and WNTR have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSEU or WNTR?

WNTR has higher volatility (18.80%) compared to GSEU (4.50%). In terms of maximum drawdown, GSEU dropped -35.71% vs WNTR's -42.65%.

Which ETF is better, GSEU or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 17.90% for GSEU. On fees, GSEU is cheaper at 0.25% per year. On volatility, GSEU has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEU or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 17.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEU or WNTR?

GSEU is cheaper with a 0.25% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 104.11%, compared with 2.77% for GSEU.

What is the main difference between GSEU and WNTR?

GSEU is categorized as Europe Equities, while WNTR is Derivative Income. They also come from different issuers: Goldman Sachs and YieldMax. Their fees differ too: 0.25% for GSEU and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.06 vs 1.07), 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.