MKOR vs. WNTR

Last updated Jun 26, 2026

MKOR (Matthews Korea Active ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - MKOR is a Asia Pacific Equities fund actively managed by Matthews, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, MKOR returned 139.15% vs 115.98% for WNTR. At a correlation of -0.38, they often move in opposite directions. MKOR charges 0.79%/yr vs 1.01%/yr for WNTR.

Performance

MKOR vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Korea Active ETF (MKOR) 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, MKOR achieves a 90.76% return, which is significantly higher than WNTR's 17.65% return.

MKOR

• 1D: 2.68%
• 1M: -1.16%
• YTD: 90.76%
• 6M: 95.59%
• 1Y: 139.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 6.51%
• 1M: 45.64%
• YTD: 17.65%
• 6M: 21.49%
• 1Y: 115.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MKOR vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
MKOR Matthews Korea Active ETF	90.76%	59.42%
WNTR YieldMax Short MSTR Option Income Strategy ETF	17.65%	52.78%

Correlation

The correlation between MKOR and WNTR is -0.41, 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	-0.41
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.38

Return for Risk

MKOR vs. WNTR — Risk / Return Rank

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

MKOR

MKOR Risk / Return Rank: 93
MKOR Sharpe Ratio Rank: 95
MKOR Sortino Ratio Rank: 88
MKOR Omega Ratio Rank: 91
MKOR Calmar Ratio Rank: 95
MKOR Martin Ratio Rank: 95

WNTR

WNTR Risk / Return Rank: 63
WNTR Sharpe Ratio Rank: 80
WNTR Sortino Ratio Rank: 60
WNTR Omega Ratio Rank: 64
WNTR Calmar Ratio Rank: 64
WNTR Martin Ratio Rank: 47

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.

MKOR vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Korea Active ETF (MKOR) 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.

	MKOR	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	3.35	2.20	+1.15
Sortino ratio: Return per unit of downside risk	3.50	2.46	+1.04
Omega ratio: Gain probability vs. loss probability	1.51	1.33	+0.18
Calmar ratio: Return relative to maximum drawdown	6.79	2.73	+4.05
Martin ratio: Return relative to average drawdown	24.50	6.99	+17.51

MKOR vs. WNTR - Sharpe Ratio Comparison

The current MKOR Sharpe Ratio is 3.35, which is higher than the WNTR Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of MKOR 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

MKOR vs. WNTR - Drawdown Comparison

The maximum MKOR drawdown since its inception was -22.09%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for MKOR and WNTR.

Drawdown Indicators

	MKOR	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-22.09%	-42.65%	+20.56%
Max Drawdown (1Y) Largest decline over 1 year	-20.62%	-42.65%	+22.03%
Current Drawdown Current decline from peak	-7.46%	-4.02%	-3.44%
Average Drawdown Average peak-to-trough decline	-6.28%	-20.87%	+14.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.70%	16.66%	-10.96%

Volatility

MKOR vs. WNTR - Volatility Comparison

Matthews Korea Active ETF (MKOR) has a higher volatility of 21.99% compared to YieldMax Short MSTR Option Income Strategy ETF (WNTR) at 18.14%. This indicates that MKOR's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKOR	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.99%	18.14%	+3.85%
Volatility (6M) Calculated over the trailing 6-month period	39.05%	46.41%	-7.36%
Volatility (1Y) Calculated over the trailing 1-year period	41.85%	53.16%	-11.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.29%	53.31%	-24.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.29%	53.31%	-24.02%

MKOR vs. WNTR - Expense Ratio Comparison

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

Dividends

MKOR vs. WNTR - Dividend Comparison

MKOR's dividend yield for the trailing twelve months is around 1.38%, less than WNTR's 94.34% yield.

Position	TTM	2025	2024
MKOR Matthews Korea Active ETF	1.38%	2.62%	5.28%
WNTR YieldMax Short MSTR Option Income Strategy ETF	94.34%	58.56%	0.00%

Frequently Asked Questions

Can I hold both MKOR and WNTR in my portfolio?

MKOR and WNTR have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MKOR or WNTR?

MKOR has higher volatility (21.99%) compared to WNTR (18.14%). In terms of maximum drawdown, MKOR dropped -22.09% vs WNTR's -42.65%.

Which ETF is better, MKOR or WNTR?

On 1-year performance, MKOR leads with 139.15% vs 115.98% for WNTR. On fees, MKOR is cheaper at 0.79% per year. On volatility, WNTR has been the lower-risk option at 18.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MKOR or WNTR?

Over the 1-year period, MKOR has performed better with a 139.15% return vs 115.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MKOR or WNTR?

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

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

WNTR has the higher dividend yield at 94.34%, compared with 1.38% for MKOR.

What is the main difference between MKOR and WNTR?

MKOR is categorized as Asia Pacific Equities, while WNTR is Derivative Income. They also come from different issuers: Matthews and YieldMax. Their fees differ too: 0.79% for MKOR and 1.01% for WNTR.

Which has better risk-adjusted returns?

MKOR currently has the higher Sharpe Ratio (3.35 vs 2.20), 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.