HYIN vs. WNTR

Last updated Jul 12, 2026

HYIN (WisdomTree Alternative Income Fund) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - HYIN is a Diversified Portfolio fund tracking the Gapstow Liquid Alternative Credit Index, while WNTR is a Derivative Income fund actively managed by YieldMax. HYIN is passively managed, while WNTR is actively managed. Over the past year, HYIN returned -8.18% vs 116.49% for WNTR. At a correlation of -0.33, they often move in opposite directions. HYIN charges 3.20%/yr vs 1.01%/yr for WNTR.

Performance

HYIN vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Alternative Income Fund (HYIN) 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, HYIN achieves a -4.45% return, which is significantly lower than WNTR's 8.06% return.

HYIN

• 1D: 1.02%
• 1M: 1.18%
• 6M: -6.10%
• YTD: -4.45%
• 1Y: -8.18%
• 3Y*: 3.20%
• 5Y*: -0.42%
• 10Y*: —

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)

HYIN vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
HYIN WisdomTree Alternative Income Fund	-4.45%	-2.63%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between HYIN and WNTR is -0.28, 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	-0.28
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.33

Return for Risk

HYIN vs. WNTR — Risk / Return Rank

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

HYIN

HYIN Risk / Return Rank: 4
HYIN Sharpe Ratio Rank: 4
HYIN Sortino Ratio Rank: 4
HYIN Omega Ratio Rank: 4
HYIN Calmar Ratio Rank: 5
HYIN Martin Ratio Rank: 5

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.

HYIN vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) 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.

	HYIN	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	2.06	-2.70
Sortino ratio: Return per unit of downside risk	-0.82	2.34	-3.16
Omega ratio: Gain probability vs. loss probability	0.91	1.32	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.53	2.60	-3.13
Martin ratio: Return relative to average drawdown	-1.00	6.69	-7.69

HYIN vs. WNTR - Sharpe Ratio Comparison

The current HYIN Sharpe Ratio is -0.63, which is lower than the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of HYIN 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

HYIN vs. WNTR - Drawdown Comparison

The maximum HYIN drawdown since its inception was -31.10%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for HYIN and WNTR.

Drawdown Indicators

	HYIN	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-31.10%	-42.65%	+11.55%
Max Drawdown (1Y) Largest decline over 1 year	-15.52%	-42.65%	+27.13%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.10%	—	—
Current Drawdown Current decline from peak	-10.33%	-11.84%	+1.51%
Average Drawdown Average peak-to-trough decline	-9.06%	-20.57%	+11.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.10%	16.58%	-8.48%

Volatility

HYIN vs. WNTR - Volatility Comparison

The current volatility for WisdomTree Alternative Income Fund (HYIN) is 2.93%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that HYIN 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

	HYIN	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	18.80%	-15.87%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	47.57%	-37.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.90%	53.81%	-40.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	53.62%	-36.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.71%	53.62%	-36.91%

HYIN vs. WNTR - Expense Ratio Comparison

HYIN has a 3.20% expense ratio, which is higher than WNTR's 1.01% expense ratio.

Dividends

HYIN vs. WNTR - Dividend Comparison

HYIN's dividend yield for the trailing twelve months is around 13.22%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022	2021
HYIN WisdomTree Alternative Income Fund	13.22%	12.58%	12.59%	11.71%	11.34%	4.13%
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	58.56%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYIN and WNTR in my portfolio?

HYIN 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, HYIN or WNTR?

WNTR has higher volatility (18.80%) compared to HYIN (2.93%). In terms of maximum drawdown, HYIN dropped -31.10% vs WNTR's -42.65%.

Which ETF is better, HYIN or WNTR?

On 1-year performance, WNTR leads with 116.49% vs -8.18% for HYIN. On fees, WNTR is cheaper at 1.01% per year. On volatility, HYIN has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYIN or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs -8.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYIN or WNTR?

WNTR is cheaper with a 1.01% expense ratio, compared with 3.20% for HYIN.

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

WNTR has the higher dividend yield at 104.11%, compared with 13.22% for HYIN.

What is the main difference between HYIN and WNTR?

HYIN is categorized as Diversified Portfolio, while WNTR is Derivative Income. They also come from different issuers: WisdomTree and YieldMax. Their fees differ too: 3.20% for HYIN and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.06 vs -0.63), 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.