HOOG vs. WNTR

Last updated Jul 17, 2026

HOOG (Leverage Shares 2X Long HOOD Daily ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - HOOG is a Leveraged Equities fund actively managed by Leverage Shares, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, HOOG returned -45.56% vs 127.90% for WNTR. At a correlation of -0.58, they often move in opposite directions. HOOG charges 0.75%/yr vs 1.01%/yr for WNTR.

Performance

HOOG vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long HOOD Daily ETF (HOOG) 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, HOOG achieves a -40.04% return, which is significantly lower than WNTR's 9.49% return.

HOOG

• 1D: -16.65%
• 1M: 13.72%
• 6M: -36.00%
• YTD: -40.04%
• 1Y: -45.56%
• 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)

HOOG vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
HOOG Leverage Shares 2X Long HOOD Daily ETF	-40.04%	290.05%
WNTR YieldMax Short MSTR Option Income Strategy ETF	9.49%	52.78%

Correlation

The correlation between HOOG and WNTR is -0.60, 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	-0.60
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.58

The correlation between HOOG and WNTR has been stable across timeframes, ranging from -0.60 to -0.58 - a consistent structural relationship.

Return for Risk

HOOG vs. WNTR — Risk / Return Rank

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

HOOG

HOOG Risk / Return Rank: 8
HOOG Sharpe Ratio Rank: 6
HOOG Sortino Ratio Rank: 12
HOOG Omega Ratio Rank: 11
HOOG Calmar Ratio Rank: 5
HOOG Martin Ratio Rank: 6

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.

HOOG vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long HOOD Daily ETF (HOOG) 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.

	HOOG	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	2.39	-2.72
Sortino ratio: Return per unit of downside risk	0.37	2.56	-2.18
Omega ratio: Gain probability vs. loss probability	1.04	1.35	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.53	3.02	-3.54
Martin ratio: Return relative to average drawdown	-0.78	7.72	-8.50

HOOG vs. WNTR - Sharpe Ratio Comparison

The current HOOG Sharpe Ratio is -0.33, which is lower than the WNTR Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of HOOG 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

HOOG vs. WNTR - Drawdown Comparison

The maximum HOOG drawdown since its inception was -86.94%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for HOOG and WNTR.

Drawdown Indicators

	HOOG	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-86.94%	-42.65%	-44.29%
Max Drawdown (1Y) Largest decline over 1 year	-86.94%	-42.65%	-44.29%
Current Drawdown Current decline from peak	-72.03%	-10.67%	-61.36%
Average Drawdown Average peak-to-trough decline	-40.55%	-20.46%	-20.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	58.70%	16.63%	+42.07%

Volatility

HOOG vs. WNTR - Volatility Comparison

Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a higher volatility of 40.77% compared to YieldMax Short MSTR Option Income Strategy ETF (WNTR) at 17.89%. This indicates that HOOG'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

	HOOG	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.77%	17.89%	+22.88%
Volatility (6M) Calculated over the trailing 6-month period	106.02%	47.05%	+58.97%
Volatility (1Y) Calculated over the trailing 1-year period	139.20%	53.81%	+85.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.48%	53.49%	+90.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.48%	53.49%	+90.99%

HOOG vs. WNTR - Expense Ratio Comparison

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

Dividends

HOOG vs. WNTR - Dividend Comparison

HOOG's dividend yield for the trailing twelve months is around 20.52%, less than WNTR's 106.86% yield.

Position	TTM	2025
HOOG Leverage Shares 2X Long HOOD Daily ETF	20.52%	12.30%
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.86%	58.56%

Frequently Asked Questions

Can I hold both HOOG and WNTR in my portfolio?

HOOG and WNTR have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOOG or WNTR?

HOOG has higher volatility (40.77%) compared to WNTR (17.89%). In terms of maximum drawdown, HOOG dropped -86.94% vs WNTR's -42.65%.

Which ETF is better, HOOG or WNTR?

On 1-year performance, WNTR leads with 127.90% vs -45.56% for HOOG. On fees, HOOG is cheaper at 0.75% per year. On volatility, WNTR has been the lower-risk option at 17.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOG or WNTR?

Over the 1-year period, WNTR has performed better with a 127.90% return vs -45.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOG or WNTR?

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

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

WNTR has the higher dividend yield at 106.86%, compared with 20.52% for HOOG.

What is the main difference between HOOG and WNTR?

HOOG is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: Leverage Shares and YieldMax. Their fees differ too: 0.75% for HOOG and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.39 vs -0.33), 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.