ILDR vs. WNTR

Last updated Jun 25, 2026

ILDR (First Trust Innovation Leaders ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - ILDR is a Technology Equities fund actively managed by First Trust, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, ILDR returned 30.63% vs 97.02% for WNTR. At a correlation of -0.51, they often move in opposite directions. ILDR charges 0.75%/yr vs 1.01%/yr for WNTR.

Performance

ILDR vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Innovation Leaders ETF (ILDR) 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, ILDR achieves a 13.36% return, which is significantly higher than WNTR's 10.46% return.

ILDR

• 1D: -0.59%
• 1M: -0.83%
• YTD: 13.36%
• 6M: 11.44%
• 1Y: 30.63%
• 3Y*: 28.06%
• 5Y*: 11.32%
• 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)

ILDR vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
ILDR First Trust Innovation Leaders ETF	13.36%	34.79%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.46%	52.78%

Correlation

The correlation between ILDR and WNTR is -0.51, 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	-0.51
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.51

The correlation between ILDR and WNTR has been stable across timeframes, ranging from -0.51 to -0.51 - a consistent structural relationship.

Return for Risk

ILDR vs. WNTR — Risk / Return Rank

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

ILDR

ILDR Risk / Return Rank: 39
ILDR Sharpe Ratio Rank: 42
ILDR Sortino Ratio Rank: 39
ILDR Omega Ratio Rank: 38
ILDR Calmar Ratio Rank: 38
ILDR Martin Ratio Rank: 39

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.

ILDR vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Innovation Leaders ETF (ILDR) 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.

	ILDR	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.85	-0.51
Sortino ratio: Return per unit of downside risk	1.84	2.20	-0.37
Omega ratio: Gain probability vs. loss probability	1.23	1.30	-0.06
Calmar ratio: Return relative to maximum drawdown	1.74	2.29	-0.55
Martin ratio: Return relative to average drawdown	5.61	5.85	-0.24

ILDR vs. WNTR - Sharpe Ratio Comparison

The current ILDR Sharpe Ratio is 1.34, which is comparable to the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of ILDR 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

ILDR vs. WNTR - Drawdown Comparison

The maximum ILDR drawdown since its inception was -44.61%, roughly equal to the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for ILDR and WNTR.

Drawdown Indicators

	ILDR	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-44.61%	-42.65%	-1.96%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-42.65%	+24.95%
Max Drawdown (3Y) Largest decline over 3 years	-26.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.61%	—	—
Current Drawdown Current decline from peak	-7.75%	-9.88%	+2.13%
Average Drawdown Average peak-to-trough decline	-14.86%	-20.93%	+6.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.48%	16.70%	-11.22%

Volatility

ILDR vs. WNTR - Volatility Comparison

The current volatility for First Trust Innovation Leaders ETF (ILDR) is 10.87%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.54%. This indicates that ILDR 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

	ILDR	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.87%	17.54%	-6.67%
Volatility (6M) Calculated over the trailing 6-month period	18.27%	45.99%	-27.72%
Volatility (1Y) Calculated over the trailing 1-year period	23.16%	52.83%	-29.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.40%	53.10%	-26.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.23%	53.10%	-26.87%

ILDR vs. WNTR - Expense Ratio Comparison

ILDR has a 0.75% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

ILDR vs. WNTR - Dividend Comparison

ILDR has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 96.66%.

Position	TTM	2025	2024	2023	2022	2021
ILDR First Trust Innovation Leaders ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%
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 ILDR and WNTR in my portfolio?

ILDR and WNTR have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILDR or WNTR?

WNTR has higher volatility (17.54%) compared to ILDR (10.87%). In terms of maximum drawdown, ILDR dropped -44.61% vs WNTR's -42.65%.

Which ETF is better, ILDR or WNTR?

On 1-year performance, WNTR leads with 97.02% vs 30.63% for ILDR. On fees, ILDR is cheaper at 0.75% per year. On volatility, ILDR has been the lower-risk option at 10.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILDR or WNTR?

Over the 1-year period, WNTR has performed better with a 97.02% return vs 30.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILDR or WNTR?

ILDR is cheaper with a 0.75% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 96.66%, compared with 0.00% for ILDR.

What is the main difference between ILDR and WNTR?

ILDR is categorized as Technology Equities, while WNTR is Derivative Income. They also come from different issuers: First Trust and YieldMax. Their fees differ too: 0.75% for ILDR and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.85 vs 1.33), 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.