IAT vs. WNTR

Last updated Jun 26, 2026

IAT (iShares U.S. Regional Banks ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - IAT is a Financials Equities fund tracking the Dow Jones U.S. Select Regional Banks Index, while WNTR is a Derivative Income fund actively managed by YieldMax. IAT is passively managed, while WNTR is actively managed. Over the past year, IAT returned 32.81% vs 115.98% for WNTR. At a correlation of -0.19, they often move in opposite directions. IAT charges 0.42%/yr vs 1.01%/yr for WNTR.

Performance

IAT vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Regional Banks ETF (IAT) 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, IAT achieves a 14.33% return, which is significantly lower than WNTR's 17.65% return.

IAT

• 1D: 1.60%
• 1M: 8.56%
• YTD: 14.33%
• 6M: 11.60%
• 1Y: 32.81%
• 3Y*: 27.94%
• 5Y*: 4.40%
• 10Y*: 10.53%

WNTR

• 1D: 6.51%
• 1M: 45.64%
• YTD: 17.65%
• 6M: 21.49%
• 1Y: 115.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAT vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
IAT iShares U.S. Regional Banks ETF	14.33%	19.29%
WNTR YieldMax Short MSTR Option Income Strategy ETF	17.65%	52.78%

Correlation

The correlation between IAT and WNTR is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.19

Return for Risk

IAT vs. WNTR — Risk / Return Rank

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

IAT

IAT Risk / Return Rank: 44
IAT Sharpe Ratio Rank: 49
IAT Sortino Ratio Rank: 46
IAT Omega Ratio Rank: 47
IAT Calmar Ratio Rank: 42
IAT Martin Ratio Rank: 35

WNTR

WNTR Risk / Return Rank: 63
WNTR Sharpe Ratio Rank: 80
WNTR Sortino Ratio Rank: 60
WNTR Omega Ratio Rank: 64
WNTR Calmar Ratio Rank: 64
WNTR Martin Ratio Rank: 47

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.

IAT vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Regional Banks ETF (IAT) 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.

	IAT	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.20	-0.70
Sortino ratio: Return per unit of downside risk	2.05	2.46	-0.41
Omega ratio: Gain probability vs. loss probability	1.27	1.33	-0.06
Calmar ratio: Return relative to maximum drawdown	1.88	2.73	-0.85
Martin ratio: Return relative to average drawdown	4.79	6.99	-2.20

IAT vs. WNTR - Sharpe Ratio Comparison

The current IAT Sharpe Ratio is 1.50, which is lower than the WNTR Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of IAT 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

IAT vs. WNTR - Drawdown Comparison

The maximum IAT drawdown since its inception was -77.22%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for IAT and WNTR.

Drawdown Indicators

	IAT	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-77.22%	-42.65%	-34.57%
Max Drawdown (1Y) Largest decline over 1 year	-17.49%	-42.65%	+25.16%
Max Drawdown (3Y) Largest decline over 3 years	-29.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-55.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-55.55%	—	—
Current Drawdown Current decline from peak	0.00%	-4.02%	+4.02%
Average Drawdown Average peak-to-trough decline	-26.90%	-20.87%	-6.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.87%	16.66%	-9.79%

Volatility

IAT vs. WNTR - Volatility Comparison

The current volatility for iShares U.S. Regional Banks ETF (IAT) is 6.92%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.14%. This indicates that IAT 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

	IAT	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.92%	18.14%	-11.22%
Volatility (6M) Calculated over the trailing 6-month period	16.20%	46.41%	-30.21%
Volatility (1Y) Calculated over the trailing 1-year period	21.98%	53.16%	-31.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.95%	53.31%	-24.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.73%	53.31%	-22.58%

IAT vs. WNTR - Expense Ratio Comparison

IAT has a 0.42% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

IAT vs. WNTR - Dividend Comparison

IAT's dividend yield for the trailing twelve months is around 2.59%, less than WNTR's 94.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAT iShares U.S. Regional Banks ETF	2.59%	2.94%	2.95%	3.56%	3.12%	1.88%	2.87%	2.49%	2.48%	1.55%	1.52%	1.78%
WNTR YieldMax Short MSTR Option Income Strategy ETF	94.34%	58.56%	0.00%	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 IAT and WNTR in my portfolio?

IAT and WNTR have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAT or WNTR?

WNTR has higher volatility (18.14%) compared to IAT (6.92%). In terms of maximum drawdown, IAT dropped -77.22% vs WNTR's -42.65%.

Which ETF is better, IAT or WNTR?

On 1-year performance, WNTR leads with 115.98% vs 32.81% for IAT. On fees, IAT is cheaper at 0.42% per year. On volatility, IAT has been the lower-risk option at 6.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAT or WNTR?

Over the 1-year period, WNTR has performed better with a 115.98% return vs 32.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAT or WNTR?

IAT is cheaper with a 0.42% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 94.34%, compared with 2.59% for IAT.

What is the main difference between IAT and WNTR?

IAT is categorized as Financials Equities, while WNTR is Derivative Income. They also come from different issuers: iShares and YieldMax. Their fees differ too: 0.42% for IAT and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.20 vs 1.50), 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.