HVAC vs. WNTR

Last updated Aug 4, 2026

HVAC (AdvisorShares HVAC and Industrials ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - HVAC is a Industrials Equities fund actively managed by AdvisorShares, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, HVAC returned 19.14% vs 106.92% for WNTR. Their -0.32 correlation means they have often moved in opposite directions in the past. Both charge a 1.00% expense ratio.

Performance

HVAC vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares HVAC and Industrials ETF (HVAC) 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, HVAC achieves a 16.27% return, which is significantly higher than WNTR's 10.51% return.

HVAC

• 1D: 2.31%
• 1M: -5.87%
• 6M: 3.26%
• YTD: 16.27%
• 1Y: 19.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.20%

WNTR

• 1D: -0.22%
• 1M: 7.89%
• 6M: 8.31%
• YTD: 10.51%
• 1Y: 106.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.29%

*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)
HVAC AdvisorShares HVAC and Industrials ETF	$286.93K	$310.46K	$425.66K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$3.92M	$3.66M	$3.95M

HVAC vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
HVAC AdvisorShares HVAC and Industrials ETF	16.27%	34.45%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.51%	52.78%

Correlation

The correlation between HVAC and WNTR is -0.28, 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.	-0.28
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.32

Return for Risk

HVAC vs. WNTR — Risk / Return Rank

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

HVAC

HVAC Risk / Return Rank: 26
HVAC Sharpe Ratio Rank: 25
HVAC Sortino Ratio Rank: 25
HVAC Omega Ratio Rank: 26
HVAC Calmar Ratio Rank: 25
HVAC Martin Ratio Rank: 32

WNTR

WNTR Risk / Return Rank: 69
WNTR Sharpe Ratio Rank: 83
WNTR Sortino Ratio Rank: 67
WNTR Omega Ratio Rank: 71
WNTR Calmar Ratio Rank: 70
WNTR Martin Ratio Rank: 53

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.

HVAC vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares HVAC and Industrials ETF (HVAC) 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.

	HVAC	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.57	1.97	-1.40
Sortino ratio: Return per unit of downside risk	0.95	2.27	-1.32
Omega ratio: Gain probability vs. loss probability	1.12	1.30	-0.18
Calmar ratio: Return relative to maximum drawdown	0.78	2.52	-1.74
Martin ratio: Return relative to average drawdown	3.00	6.38	-3.38

HVAC vs. WNTR - Sharpe Ratio Comparison

The current HVAC Sharpe Ratio is 0.57, which is lower than the WNTR Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of HVAC 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

HVAC vs. WNTR - Drawdown Comparison

The maximum HVAC drawdown since its inception was -24.72%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for HVAC and WNTR.

Drawdown Indicators

	HVAC	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-24.72%	-42.65%	+17.93%
Max Drawdown (1Y) Largest decline over 1 year	-24.72%	-42.65%	+17.93%
Current Drawdown Current decline from peak	-16.68%	-9.84%	-6.84%
Average Drawdown Average peak-to-trough decline	-4.65%	-20.15%	+15.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.40%	16.83%	-10.43%

Volatility

HVAC vs. WNTR - Volatility Comparison

AdvisorShares HVAC and Industrials ETF (HVAC) and YieldMax MSTR Short Option Income Strategy ETF (WNTR) have volatilities of 13.57% and 13.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HVAC	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.57%	13.00%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	29.17%	47.22%	-18.05%
Volatility (1Y) Calculated over the trailing 1-year period	33.64%	54.66%	-21.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.38%	53.34%	-20.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.38%	53.34%	-20.96%

HVAC vs. WNTR - Expense Ratio Comparison

Both HVAC and WNTR have an expense ratio of 1.00%.

Dividends

HVAC vs. WNTR - Dividend Comparison

HVAC's dividend yield for the trailing twelve months is around 0.17%, less than WNTR's 107.26% yield.

Position	TTM	2025
HVAC AdvisorShares HVAC and Industrials ETF	0.17%	0.19%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.26%	58.56%

Frequently Asked Questions

Can I hold both HVAC and WNTR in my portfolio?

HVAC and WNTR have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HVAC or WNTR?

HVAC has higher volatility (13.57%) compared to WNTR (13.00%). In terms of maximum drawdown, HVAC dropped -24.72% vs WNTR's -42.65%.

Which ETF is better, HVAC or WNTR?

On 1-year performance, WNTR leads with 106.92% vs 19.14% for HVAC. Both ETFs have the same 1.00% expense ratio. On volatility, WNTR has been the lower-risk option at 13.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HVAC or WNTR?

Over the 1-year period, WNTR has performed better with a 106.92% return vs 19.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HVAC or WNTR?

HVAC and WNTR have the same expense ratio: 1.00% per year.

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

WNTR has the higher dividend yield at 107.26%, compared with 0.17% for HVAC.

What is the main difference between HVAC and WNTR?

HVAC is categorized as Industrials Equities, while WNTR is Derivative Income. They also come from different issuers: AdvisorShares and YieldMax.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.97 vs 0.57), 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.