IFED vs. WNTR

Last updated Aug 1, 2026

IFED (ETRACS IFED Invest with the Fed TR Index ETN) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - IFED is a Leveraged Equities fund tracking the IFED Large-Cap US Equity Index - Benchmark TR Gross, while WNTR is a Derivative Income fund actively managed by YieldMax. IFED is passively managed, while WNTR is actively managed. Over the past year, IFED returned 14.76% vs 107.38% for WNTR. Their -0.36 correlation means they have often moved in opposite directions in the past. IFED charges 0.45%/yr vs 1.00%/yr for WNTR.

Performance

IFED vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS IFED Invest with the Fed TR Index ETN (IFED) 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, IFED achieves a 10.03% return, which is significantly lower than WNTR's 10.75% return.

IFED

• 1D: 0.00%
• 1M: 13.92%
• 6M: 14.63%
• YTD: 10.03%
• 1Y: 14.76%
• 3Y*: 18.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.40%

WNTR

• 1D: 3.26%
• 1M: 8.13%
• 6M: 14.92%
• YTD: 10.75%
• 1Y: 107.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.89%

*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)
IFED ETRACS IFED Invest with the Fed TR Index ETN	$159.79K	$83.84K	$44.71K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$4.02M	$3.86M	$3.95M

IFED vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
IFED ETRACS IFED Invest with the Fed TR Index ETN	10.03%	14.74%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.75%	52.78%

Correlation

The correlation between IFED and WNTR is -0.39, 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.	-0.39
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.36

Return for Risk

IFED vs. WNTR — Risk / Return Rank

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

IFED

IFED Risk / Return Rank: 24
IFED Sharpe Ratio Rank: 21
IFED Sortino Ratio Rank: 23
IFED Omega Ratio Rank: 30
IFED Calmar Ratio Rank: 22
IFED Martin Ratio Rank: 25

WNTR

WNTR Risk / Return Rank: 75
WNTR Sharpe Ratio Rank: 88
WNTR Sortino Ratio Rank: 74
WNTR Omega Ratio Rank: 77
WNTR Calmar Ratio Rank: 77
WNTR Martin Ratio Rank: 58

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.

IFED vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS IFED Invest with the Fed TR Index ETN (IFED) 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.

	IFED	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.44	2.12	-1.68
Sortino ratio: Return per unit of downside risk	0.84	2.37	-1.54
Omega ratio: Gain probability vs. loss probability	1.14	1.32	-0.18
Calmar ratio: Return relative to maximum drawdown	0.64	2.71	-2.07
Martin ratio: Return relative to average drawdown	2.01	6.87	-4.86

IFED vs. WNTR - Sharpe Ratio Comparison

The current IFED Sharpe Ratio is 0.44, which is lower than the WNTR Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of IFED 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

IFED vs. WNTR - Drawdown Comparison

The maximum IFED drawdown since its inception was -22.36%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for IFED and WNTR.

Drawdown Indicators

	IFED	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-22.36%	-42.65%	+20.29%
Max Drawdown (1Y) Largest decline over 1 year	-20.18%	-42.65%	+22.47%
Max Drawdown (3Y) Largest decline over 3 years	-22.36%	—	—
Current Drawdown Current decline from peak	-7.61%	-9.64%	+2.03%
Average Drawdown Average peak-to-trough decline	-5.85%	-20.18%	+14.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.43%	16.81%	-10.38%

Volatility

IFED vs. WNTR - Volatility Comparison

ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a higher volatility of 24.07% compared to YieldMax MSTR Short Option Income Strategy ETF (WNTR) at 14.85%. This indicates that IFED'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

	IFED	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.07%	14.85%	+9.22%
Volatility (6M) Calculated over the trailing 6-month period	27.96%	47.43%	-19.47%
Volatility (1Y) Calculated over the trailing 1-year period	29.34%	54.68%	-25.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.56%	53.42%	-30.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.56%	53.42%	-30.86%

IFED vs. WNTR - Expense Ratio Comparison

IFED has a 0.45% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

IFED vs. WNTR - Dividend Comparison

IFED has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 107.02%.

Position	TTM	2025
IFED ETRACS IFED Invest with the Fed TR Index ETN	0.00%	0.00%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.02%	58.56%

Frequently Asked Questions

Can I hold both IFED and WNTR in my portfolio?

IFED and WNTR have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IFED or WNTR?

IFED has higher volatility (24.07%) compared to WNTR (14.85%). In terms of maximum drawdown, IFED dropped -22.36% vs WNTR's -42.65%.

Which ETF is better, IFED or WNTR?

On 1-year performance, WNTR leads with 107.38% vs 14.76% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, WNTR has been the lower-risk option at 14.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IFED or WNTR?

Over the 1-year period, WNTR has performed better with a 107.38% return vs 14.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IFED or WNTR?

IFED is cheaper with a 0.45% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 107.02%, compared with 0.00% for IFED.

What is the main difference between IFED and WNTR?

IFED is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: UBS and YieldMax. Their fees differ too: 0.45% for IFED and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.12 vs 0.44), 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.