JULZ vs. WNTR

Last updated Jul 12, 2026

JULZ (Trueshares Structured Outcome (July) ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - JULZ is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index July, while WNTR is a Derivative Income fund actively managed by YieldMax. JULZ is passively managed, while WNTR is actively managed. Over the past year, JULZ returned 16.79% vs 116.49% for WNTR. At a correlation of -0.49, they often move in opposite directions. JULZ charges 0.79%/yr vs 1.01%/yr for WNTR.

Performance

JULZ vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trueshares Structured Outcome (July) ETF (JULZ) 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, JULZ achieves a 8.49% return, which is significantly higher than WNTR's 8.06% return.

JULZ

• 1D: 0.34%
• 1M: 1.40%
• 6M: 6.91%
• YTD: 8.49%
• 1Y: 16.79%
• 3Y*: 15.64%
• 5Y*: 10.62%
• 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)

JULZ vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
JULZ Trueshares Structured Outcome (July) ETF	8.49%	15.96%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between JULZ and WNTR is -0.46, 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	-0.46
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.49

Return for Risk

JULZ vs. WNTR — Risk / Return Rank

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

JULZ

JULZ Risk / Return Rank: 55
JULZ Sharpe Ratio Rank: 57
JULZ Sortino Ratio Rank: 56
JULZ Omega Ratio Rank: 55
JULZ Calmar Ratio Rank: 48
JULZ Martin Ratio Rank: 58

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.

JULZ vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trueshares Structured Outcome (July) ETF (JULZ) 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.

	JULZ	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.53	2.06	-0.54
Sortino ratio: Return per unit of downside risk	2.16	2.34	-0.19
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	1.95	2.60	-0.66
Martin ratio: Return relative to average drawdown	8.01	6.69	+1.32

JULZ vs. WNTR - Sharpe Ratio Comparison

The current JULZ Sharpe Ratio is 1.53, which is comparable to the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of JULZ 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

JULZ vs. WNTR - Drawdown Comparison

The maximum JULZ drawdown since its inception was -14.71%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for JULZ and WNTR.

Drawdown Indicators

	JULZ	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-42.65%	+27.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-42.65%	+34.12%
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.71%	—	—
Current Drawdown Current decline from peak	-0.80%	-11.84%	+11.04%
Average Drawdown Average peak-to-trough decline	-2.96%	-20.57%	+17.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	16.58%	-14.51%

Volatility

JULZ vs. WNTR - Volatility Comparison

The current volatility for Trueshares Structured Outcome (July) ETF (JULZ) is 3.86%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that JULZ 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

	JULZ	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	18.80%	-14.94%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	47.57%	-38.61%
Volatility (1Y) Calculated over the trailing 1-year period	10.87%	53.81%	-42.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.32%	53.62%	-41.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.35%	53.62%	-41.27%

JULZ vs. WNTR - Expense Ratio Comparison

JULZ has a 0.79% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

JULZ vs. WNTR - Dividend Comparison

JULZ's dividend yield for the trailing twelve months is around 11.03%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022
JULZ Trueshares Structured Outcome (July) ETF	11.03%	11.96%	3.30%	3.59%	0.07%
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	58.56%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JULZ and WNTR in my portfolio?

JULZ and WNTR have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULZ or WNTR?

WNTR has higher volatility (18.80%) compared to JULZ (3.86%). In terms of maximum drawdown, JULZ dropped -14.71% vs WNTR's -42.65%.

Which ETF is better, JULZ or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 16.79% for JULZ. On fees, JULZ is cheaper at 0.79% per year. On volatility, JULZ has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULZ or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 16.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULZ or WNTR?

JULZ is cheaper with a 0.79% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 104.11%, compared with 11.03% for JULZ.

What is the main difference between JULZ and WNTR?

JULZ is categorized as Options Trading, while WNTR is Derivative Income. They also come from different issuers: TrueShares and YieldMax. Their fees differ too: 0.79% for JULZ and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.06 vs 1.53), 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.