HIMZ vs. WNTR

Last updated Aug 2, 2026

HIMZ (Defiance Daily Target 2X Long HIMS ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - HIMZ is a Leveraged Equities fund actively managed by Defiance, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, HIMZ returned -93.56% vs 107.38% for WNTR. Their -0.36 correlation means they have often moved in opposite directions in the past. HIMZ charges 1.31%/yr vs 1.00%/yr for WNTR.

Performance

HIMZ vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long HIMS ETF (HIMZ) and YieldMax MSTR Short 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, HIMZ achieves a -65.84% return, which is significantly lower than WNTR's 10.75% return.

HIMZ

• 1D: 5.33%
• 1M: -49.58%
• 6M: -48.36%
• YTD: -65.84%
• 1Y: -93.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -80.59%

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)
HIMZ Defiance Daily Target 2X Long HIMS ETF	$18.19M	$15.26M	$22.77M
WNTR YieldMax MSTR Short Option Income Strategy ETF	$4.02M	$3.86M	$3.95M

HIMZ vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
HIMZ Defiance Daily Target 2X Long HIMS ETF	-65.84%	-67.84%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.75%	52.78%

Correlation

The correlation between HIMZ and WNTR is -0.39, 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.	-0.39
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.36

Return for Risk

HIMZ vs. WNTR — Risk / Return Rank

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

HIMZ

HIMZ Risk / Return Rank: 3
HIMZ Sharpe Ratio Rank: 5
HIMZ Sortino Ratio Rank: 3
HIMZ Omega Ratio Rank: 3
HIMZ Calmar Ratio Rank: 0
HIMZ Martin Ratio Rank: 3

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.

HIMZ vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long HIMS ETF (HIMZ) 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.

	HIMZ	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	2.12	-2.63
Sortino ratio: Return per unit of downside risk	-1.03	2.37	-3.41
Omega ratio: Gain probability vs. loss probability	0.89	1.32	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.97	2.71	-3.69
Martin ratio: Return relative to average drawdown	-1.20	6.87	-8.06

HIMZ vs. WNTR - Sharpe Ratio Comparison

The current HIMZ Sharpe Ratio is -0.51, which is lower than the WNTR Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of HIMZ 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

HIMZ vs. WNTR - Drawdown Comparison

The maximum HIMZ drawdown since its inception was -98.18%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for HIMZ and WNTR.

Drawdown Indicators

	HIMZ	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-98.18%	-42.65%	-55.53%
Max Drawdown (1Y) Largest decline over 1 year	-96.92%	-42.65%	-54.27%
Current Drawdown Current decline from peak	-96.29%	-9.64%	-86.65%
Average Drawdown Average peak-to-trough decline	-71.68%	-20.18%	-51.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	80.20%	16.81%	+63.39%

Volatility

HIMZ vs. WNTR - Volatility Comparison

Defiance Daily Target 2X Long HIMS ETF (HIMZ) has a higher volatility of 60.32% compared to YieldMax MSTR Short Option Income Strategy ETF (WNTR) at 14.85%. This indicates that HIMZ'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

	HIMZ	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.32%	14.85%	+45.47%
Volatility (6M) Calculated over the trailing 6-month period	147.21%	47.43%	+99.78%
Volatility (1Y) Calculated over the trailing 1-year period	183.54%	54.68%	+128.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	198.78%	53.42%	+145.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	198.78%	53.42%	+145.36%

HIMZ vs. WNTR - Expense Ratio Comparison

HIMZ has a 1.31% expense ratio, which is higher than WNTR's 1.00% expense ratio.

Dividends

HIMZ vs. WNTR - Dividend Comparison

HIMZ's dividend yield for the trailing twelve months is around 7.15%, less than WNTR's 107.02% yield.

Position	TTM	2025
HIMZ Defiance Daily Target 2X Long HIMS ETF	7.15%	2.44%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.02%	58.56%

Frequently Asked Questions

Can I hold both HIMZ and WNTR in my portfolio?

HIMZ 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, HIMZ or WNTR?

HIMZ has higher volatility (60.32%) compared to WNTR (14.85%). In terms of maximum drawdown, HIMZ dropped -98.18% vs WNTR's -42.65%.

Which ETF is better, HIMZ or WNTR?

On 1-year performance, WNTR leads with 107.38% vs -93.56% for HIMZ. On fees, WNTR is cheaper at 1.00% per year. On volatility, WNTR has been the lower-risk option at 14.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIMZ or WNTR?

Over the 1-year period, WNTR has performed better with a 107.38% return vs -93.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIMZ or WNTR?

WNTR is cheaper with a 1.00% expense ratio, compared with 1.31% for HIMZ.

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

WNTR has the higher dividend yield at 107.02%, compared with 7.15% for HIMZ.

What is the main difference between HIMZ and WNTR?

HIMZ is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: Defiance and YieldMax. Their fees differ too: 1.31% for HIMZ and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.12 vs -0.51), 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.