IBBQ vs. WNTR

Last updated Jun 25, 2026

IBBQ (Invesco Nasdaq Biotechnology ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - IBBQ is a Health & Biotech Equities fund tracking the NASDAQ / Biotechnology, while WNTR is a Derivative Income fund actively managed by YieldMax. IBBQ is passively managed, while WNTR is actively managed. Over the past year, IBBQ returned 48.02% vs 97.02% for WNTR. At a correlation of -0.29, they often move in opposite directions. IBBQ charges 0.00%/yr vs 1.01%/yr for WNTR.

Performance

IBBQ vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Biotechnology ETF (IBBQ) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IBBQ having a 10.18% return and WNTR slightly higher at 10.46%.

IBBQ

• 1D: 1.39%
• 1M: 6.55%
• YTD: 10.18%
• 6M: 7.55%
• 1Y: 48.02%
• 3Y*: 15.71%
• 5Y*: 4.89%
• 10Y*: —

WNTR

• 1D: 6.01%
• 1M: 37.47%
• YTD: 10.46%
• 6M: 14.06%
• 1Y: 97.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBBQ vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
IBBQ Invesco Nasdaq Biotechnology ETF	10.18%	32.16%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.46%	52.78%

Correlation

The correlation between IBBQ and WNTR is -0.26, 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	-0.26
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.29

Return for Risk

IBBQ vs. WNTR — Risk / Return Rank

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

IBBQ

IBBQ Risk / Return Rank: 85
IBBQ Sharpe Ratio Rank: 84
IBBQ Sortino Ratio Rank: 84
IBBQ Omega Ratio Rank: 75
IBBQ Calmar Ratio Rank: 93
IBBQ Martin Ratio Rank: 90

WNTR

WNTR Risk / Return Rank: 51
WNTR Sharpe Ratio Rank: 63
WNTR Sortino Ratio Rank: 49
WNTR Omega Ratio Rank: 52
WNTR Calmar Ratio Rank: 51
WNTR Martin Ratio Rank: 40

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.

IBBQ vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotechnology ETF (IBBQ) 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.

	IBBQ	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	2.41	1.85	+0.57
Sortino ratio: Return per unit of downside risk	3.31	2.20	+1.11
Omega ratio: Gain probability vs. loss probability	1.39	1.30	+0.10
Calmar ratio: Return relative to maximum drawdown	5.79	2.29	+3.50
Martin ratio: Return relative to average drawdown	18.44	5.85	+12.60

IBBQ vs. WNTR - Sharpe Ratio Comparison

The current IBBQ Sharpe Ratio is 2.41, which is higher than the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of IBBQ 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

IBBQ vs. WNTR - Drawdown Comparison

The maximum IBBQ drawdown since its inception was -37.94%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for IBBQ and WNTR.

Drawdown Indicators

	IBBQ	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-37.94%	-42.65%	+4.71%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-42.65%	+34.31%
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.94%	—	—
Current Drawdown Current decline from peak	0.00%	-9.88%	+9.88%
Average Drawdown Average peak-to-trough decline	-16.65%	-20.93%	+4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	16.70%	-14.09%

Volatility

IBBQ vs. WNTR - Volatility Comparison

The current volatility for Invesco Nasdaq Biotechnology ETF (IBBQ) is 6.90%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.54%. This indicates that IBBQ 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

	IBBQ	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.90%	17.54%	-10.64%
Volatility (6M) Calculated over the trailing 6-month period	15.62%	45.99%	-30.37%
Volatility (1Y) Calculated over the trailing 1-year period	20.07%	52.83%	-32.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.92%	53.10%	-31.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.87%	53.10%	-31.23%

IBBQ vs. WNTR - Expense Ratio Comparison

IBBQ has a 0.00% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

IBBQ vs. WNTR - Dividend Comparison

IBBQ's dividend yield for the trailing twelve months is around 0.82%, less than WNTR's 96.66% yield.

Position	TTM	2025	2024	2023	2022	2021
IBBQ Invesco Nasdaq Biotechnology ETF	0.82%	0.90%	1.14%	0.81%	0.76%	0.63%
WNTR YieldMax Short MSTR Option Income Strategy ETF	96.66%	58.56%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBBQ and WNTR in my portfolio?

IBBQ and WNTR have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBBQ or WNTR?

WNTR has higher volatility (17.54%) compared to IBBQ (6.90%). In terms of maximum drawdown, IBBQ dropped -37.94% vs WNTR's -42.65%.

Which ETF is better, IBBQ or WNTR?

On 1-year performance, WNTR leads with 97.02% vs 48.02% for IBBQ. On fees, IBBQ is cheaper at 0.00% per year. On volatility, IBBQ has been the lower-risk option at 6.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBBQ or WNTR?

Over the 1-year period, WNTR has performed better with a 97.02% return vs 48.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBBQ or WNTR?

IBBQ is cheaper with a 0.00% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 96.66%, compared with 0.82% for IBBQ.

What is the main difference between IBBQ and WNTR?

IBBQ is categorized as Health & Biotech Equities, while WNTR is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.00% for IBBQ and 1.01% for WNTR.

Which has better risk-adjusted returns?

IBBQ currently has the higher Sharpe Ratio (2.41 vs 1.85), 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.