IYM vs. WNTR

Last updated Jul 12, 2026

IYM (iShares U.S. Basic Materials ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - IYM is a Materials fund tracking the Dow Jones U.S. Basic Materials Index, while WNTR is a Derivative Income fund actively managed by YieldMax. IYM is passively managed, while WNTR is actively managed. Over the past year, IYM returned 24.67% vs 116.49% for WNTR. At a correlation of -0.27, they often move in opposite directions. IYM charges 0.42%/yr vs 1.01%/yr for WNTR.

Performance

IYM vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Basic Materials ETF (IYM) 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, IYM achieves a 16.38% return, which is significantly higher than WNTR's 8.06% return.

IYM

• 1D: 0.69%
• 1M: -4.91%
• 6M: 8.64%
• YTD: 16.38%
• 1Y: 24.67%
• 3Y*: 12.07%
• 5Y*: 8.12%
• 10Y*: 10.31%

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)

IYM vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
IYM iShares U.S. Basic Materials ETF	16.38%	14.01%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between IYM and WNTR is -0.23, 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	-0.23
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.27

Return for Risk

IYM vs. WNTR — Risk / Return Rank

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

IYM

IYM Risk / Return Rank: 43
IYM Sharpe Ratio Rank: 43
IYM Sortino Ratio Rank: 41
IYM Omega Ratio Rank: 39
IYM Calmar Ratio Rank: 44
IYM Martin Ratio Rank: 48

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.

IYM vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Basic Materials ETF (IYM) 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.

	IYM	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.22	2.06	-0.84
Sortino ratio: Return per unit of downside risk	1.73	2.34	-0.61
Omega ratio: Gain probability vs. loss probability	1.21	1.32	-0.11
Calmar ratio: Return relative to maximum drawdown	1.78	2.60	-0.82
Martin ratio: Return relative to average drawdown	6.37	6.69	-0.32

IYM vs. WNTR - Sharpe Ratio Comparison

The current IYM Sharpe Ratio is 1.22, which is lower than the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of IYM 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

IYM vs. WNTR - Drawdown Comparison

The maximum IYM drawdown since its inception was -67.78%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for IYM and WNTR.

Drawdown Indicators

	IYM	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-67.78%	-42.65%	-25.13%
Max Drawdown (1Y) Largest decline over 1 year	-13.61%	-42.65%	+29.04%
Max Drawdown (3Y) Largest decline over 3 years	-23.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.76%	—	—
Current Drawdown Current decline from peak	-5.71%	-11.84%	+6.13%
Average Drawdown Average peak-to-trough decline	-11.42%	-20.57%	+9.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	16.58%	-12.78%

Volatility

IYM vs. WNTR - Volatility Comparison

The current volatility for iShares U.S. Basic Materials ETF (IYM) is 7.05%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that IYM 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

	IYM	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.05%	18.80%	-11.75%
Volatility (6M) Calculated over the trailing 6-month period	15.84%	47.57%	-31.73%
Volatility (1Y) Calculated over the trailing 1-year period	19.85%	53.81%	-33.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.51%	53.62%	-33.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.69%	53.62%	-31.93%

IYM vs. WNTR - Expense Ratio Comparison

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

Dividends

IYM vs. WNTR - Dividend Comparison

IYM's dividend yield for the trailing twelve months is around 1.31%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYM iShares U.S. Basic Materials ETF	1.31%	1.51%	1.65%	1.77%	2.14%	1.48%	1.39%	2.08%	1.68%	1.43%	1.47%	2.04%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IYM and WNTR in my portfolio?

IYM and WNTR have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYM or WNTR?

WNTR has higher volatility (18.80%) compared to IYM (7.05%). In terms of maximum drawdown, IYM dropped -67.78% vs WNTR's -42.65%.

Which ETF is better, IYM or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 24.67% for IYM. On fees, IYM is cheaper at 0.42% per year. On volatility, IYM has been the lower-risk option at 7.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYM or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 24.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYM or WNTR?

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

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

WNTR has the higher dividend yield at 104.11%, compared with 1.31% for IYM.

What is the main difference between IYM and WNTR?

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

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.06 vs 1.22), 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.