JHEM vs. WNTR

Last updated Jun 25, 2026

JHEM (John Hancock Multifactor Emerging Markets ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - JHEM is a Emerging Markets Equities fund tracking the John Hancock Dimensional Emerging Markets Index, while WNTR is a Derivative Income fund actively managed by YieldMax. JHEM is passively managed, while WNTR is actively managed. Over the past year, JHEM returned 39.74% vs 97.02% for WNTR. At a correlation of -0.39, they often move in opposite directions. JHEM charges 0.49%/yr vs 1.01%/yr for WNTR.

Performance

JHEM vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Multifactor Emerging Markets ETF (JHEM) 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, JHEM achieves a 21.16% return, which is significantly higher than WNTR's 10.46% return.

JHEM

• 1D: -0.14%
• 1M: 1.85%
• YTD: 21.16%
• 6M: 22.55%
• 1Y: 39.74%
• 3Y*: 20.74%
• 5Y*: 7.31%
• 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)

JHEM vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
JHEM John Hancock Multifactor Emerging Markets ETF	21.16%	24.89%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.46%	52.78%

Correlation

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

Return for Risk

JHEM vs. WNTR — Risk / Return Rank

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

JHEM

JHEM Risk / Return Rank: 69
JHEM Sharpe Ratio Rank: 66
JHEM Sortino Ratio Rank: 60
JHEM Omega Ratio Rank: 70
JHEM Calmar Ratio Rank: 73
JHEM Martin Ratio Rank: 73

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.

JHEM vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Multifactor Emerging Markets ETF (JHEM) 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.

	JHEM	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.85	+0.05
Sortino ratio: Return per unit of downside risk	2.50	2.20	+0.30
Omega ratio: Gain probability vs. loss probability	1.37	1.30	+0.07
Calmar ratio: Return relative to maximum drawdown	3.24	2.29	+0.95
Martin ratio: Return relative to average drawdown	11.90	5.85	+6.05

JHEM vs. WNTR - Sharpe Ratio Comparison

The current JHEM Sharpe Ratio is 1.90, which is comparable to the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of JHEM 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

JHEM vs. WNTR - Drawdown Comparison

The maximum JHEM drawdown since its inception was -34.99%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for JHEM and WNTR.

Drawdown Indicators

	JHEM	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-34.99%	-42.65%	+7.66%
Max Drawdown (1Y) Largest decline over 1 year	-12.34%	-42.65%	+30.31%
Max Drawdown (3Y) Largest decline over 3 years	-18.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.83%	—	—
Current Drawdown Current decline from peak	-5.01%	-9.88%	+4.87%
Average Drawdown Average peak-to-trough decline	-9.91%	-20.93%	+11.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	16.70%	-13.35%

Volatility

JHEM vs. WNTR - Volatility Comparison

The current volatility for John Hancock Multifactor Emerging Markets ETF (JHEM) is 11.51%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.54%. This indicates that JHEM 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

	JHEM	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.51%	17.54%	-6.03%
Volatility (6M) Calculated over the trailing 6-month period	19.14%	45.99%	-26.85%
Volatility (1Y) Calculated over the trailing 1-year period	21.15%	52.83%	-31.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.17%	53.10%	-34.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.85%	53.10%	-32.25%

JHEM vs. WNTR - Expense Ratio Comparison

JHEM has a 0.49% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

JHEM vs. WNTR - Dividend Comparison

JHEM's dividend yield for the trailing twelve months is around 1.97%, less than WNTR's 96.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JHEM John Hancock Multifactor Emerging Markets ETF	1.97%	2.39%	2.93%	2.87%	2.84%	2.71%	1.67%	2.37%	0.21%
WNTR YieldMax Short MSTR Option Income Strategy ETF	96.66%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHEM and WNTR in my portfolio?

JHEM 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, JHEM or WNTR?

WNTR has higher volatility (17.54%) compared to JHEM (11.51%). In terms of maximum drawdown, JHEM dropped -34.99% vs WNTR's -42.65%.

Which ETF is better, JHEM or WNTR?

On 1-year performance, WNTR leads with 97.02% vs 39.74% for JHEM. On fees, JHEM is cheaper at 0.49% per year. On volatility, JHEM has been the lower-risk option at 11.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHEM or WNTR?

Over the 1-year period, WNTR has performed better with a 97.02% return vs 39.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHEM or WNTR?

JHEM is cheaper with a 0.49% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 96.66%, compared with 1.97% for JHEM.

What is the main difference between JHEM and WNTR?

JHEM is categorized as Emerging Markets Equities, while WNTR is Derivative Income. They also come from different issuers: Manulife and YieldMax. Their fees differ too: 0.49% for JHEM and 1.01% for WNTR.

Which has better risk-adjusted returns?

JHEM currently has the higher Sharpe Ratio (1.90 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.