ISMD vs. WNTR

Last updated Jul 12, 2026

ISMD (Inspire Small/Mid Cap Impact ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - ISMD is a Small Cap Blend Equities fund tracking the Inspire Small/Mid Cap Impact Equal Weight Index, while WNTR is a Derivative Income fund actively managed by YieldMax. ISMD is passively managed, while WNTR is actively managed. Over the past year, ISMD returned 35.40% vs 116.49% for WNTR. At a correlation of -0.37, they often move in opposite directions. ISMD charges 0.57%/yr vs 1.01%/yr for WNTR.

Performance

ISMD vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Inspire Small/Mid Cap Impact ETF (ISMD) 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, ISMD achieves a 28.44% return, which is significantly higher than WNTR's 8.06% return.

ISMD

• 1D: 0.08%
• 1M: 2.20%
• 6M: 21.12%
• YTD: 28.44%
• 1Y: 35.40%
• 3Y*: 16.40%
• 5Y*: 9.45%
• 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)

ISMD vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
ISMD Inspire Small/Mid Cap Impact ETF	28.44%	11.52%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between ISMD and WNTR is -0.34, 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	-0.34
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.37

Return for Risk

ISMD vs. WNTR — Risk / Return Rank

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

ISMD

ISMD Risk / Return Rank: 73
ISMD Sharpe Ratio Rank: 71
ISMD Sortino Ratio Rank: 73
ISMD Omega Ratio Rank: 65
ISMD Calmar Ratio Rank: 83
ISMD Martin Ratio Rank: 75

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.

ISMD vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Inspire Small/Mid Cap Impact ETF (ISMD) 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.

	ISMD	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.06	-0.24
Sortino ratio: Return per unit of downside risk	2.61	2.34	+0.27
Omega ratio: Gain probability vs. loss probability	1.31	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	3.51	2.60	+0.91
Martin ratio: Return relative to average drawdown	11.07	6.69	+4.39

ISMD vs. WNTR - Sharpe Ratio Comparison

The current ISMD Sharpe Ratio is 1.83, which is comparable to the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of ISMD 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

ISMD vs. WNTR - Drawdown Comparison

The maximum ISMD drawdown since its inception was -44.60%, roughly equal to the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for ISMD and WNTR.

Drawdown Indicators

	ISMD	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-44.60%	-42.65%	-1.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-42.65%	+33.01%
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	—	—
Current Drawdown Current decline from peak	-1.61%	-11.84%	+10.23%
Average Drawdown Average peak-to-trough decline	-8.09%	-20.57%	+12.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	16.58%	-13.51%

Volatility

ISMD vs. WNTR - Volatility Comparison

The current volatility for Inspire Small/Mid Cap Impact ETF (ISMD) is 4.66%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that ISMD 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

	ISMD	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	18.80%	-14.14%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	47.57%	-34.57%
Volatility (1Y) Calculated over the trailing 1-year period	18.54%	53.81%	-35.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.85%	53.62%	-32.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.68%	53.62%	-29.94%

ISMD vs. WNTR - Expense Ratio Comparison

ISMD has a 0.57% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

ISMD vs. WNTR - Dividend Comparison

ISMD's dividend yield for the trailing twelve months is around 1.12%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISMD Inspire Small/Mid Cap Impact ETF	1.12%	1.21%	1.24%	1.17%	1.28%	9.35%	0.99%	0.88%	1.35%	2.02%
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISMD and WNTR in my portfolio?

ISMD and WNTR have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISMD or WNTR?

WNTR has higher volatility (18.80%) compared to ISMD (4.66%). In terms of maximum drawdown, ISMD dropped -44.60% vs WNTR's -42.65%.

Which ETF is better, ISMD or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 35.40% for ISMD. On fees, ISMD is cheaper at 0.57% per year. On volatility, ISMD has been the lower-risk option at 4.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISMD or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 35.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISMD or WNTR?

ISMD is cheaper with a 0.57% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 104.11%, compared with 1.12% for ISMD.

What is the main difference between ISMD and WNTR?

ISMD is categorized as Small Cap Blend Equities, while WNTR is Derivative Income. They also come from different issuers: Inspire and YieldMax. Their fees differ too: 0.57% for ISMD and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.06 vs 1.83), 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.