NVYY vs. WNTR

Last updated Jul 14, 2026

NVYY (GraniteShares YieldBOOST NVDA ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - NVYY is a Leveraged Equities fund actively managed by GraniteShares, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, NVYY returned 13.05% vs 120.64% for WNTR. At a correlation of -0.32, they often move in opposite directions. NVYY charges 1.07%/yr vs 1.01%/yr for WNTR.

Performance

NVYY vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST NVDA ETF (NVYY) 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, NVYY achieves a 2.44% return, which is significantly lower than WNTR's 10.13% return.

NVYY

• 1D: -0.55%
• 1M: 0.16%
• 6M: 1.42%
• YTD: 2.44%
• 1Y: 13.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 1.92%
• 1M: 18.08%
• 6M: 14.43%
• YTD: 10.13%
• 1Y: 120.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVYY vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
NVYY GraniteShares YieldBOOST NVDA ETF	2.44%	31.98%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.13%	93.68%

Correlation

The correlation between NVYY and WNTR is -0.30, 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	-0.30
Correlation (All Time) Calculated using the full available price history since May 13, 2025	-0.32

Return for Risk

NVYY vs. WNTR — Risk / Return Rank

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

NVYY

NVYY Risk / Return Rank: 21
NVYY Sharpe Ratio Rank: 20
NVYY Sortino Ratio Rank: 19
NVYY Omega Ratio Rank: 20
NVYY Calmar Ratio Rank: 23
NVYY Martin Ratio Rank: 21

WNTR

WNTR Risk / Return Rank: 70
WNTR Sharpe Ratio Rank: 88
WNTR Sortino Ratio Rank: 67
WNTR Omega Ratio Rank: 72
WNTR Calmar Ratio Rank: 71
WNTR Martin Ratio Rank: 54

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.

NVYY vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST NVDA ETF (NVYY) 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.

	NVYY	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.55	2.26	-1.71
Sortino ratio: Return per unit of downside risk	0.85	2.47	-1.62
Omega ratio: Gain probability vs. loss probability	1.12	1.34	-0.22
Calmar ratio: Return relative to maximum drawdown	0.88	2.84	-1.97
Martin ratio: Return relative to average drawdown	1.90	7.31	-5.41

NVYY vs. WNTR - Sharpe Ratio Comparison

The current NVYY Sharpe Ratio is 0.55, which is lower than the WNTR Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of NVYY 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

NVYY vs. WNTR - Drawdown Comparison

The maximum NVYY drawdown since its inception was -14.90%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for NVYY and WNTR.

Drawdown Indicators

	NVYY	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-14.90%	-42.65%	+27.75%
Max Drawdown (1Y) Largest decline over 1 year	-14.90%	-42.65%	+27.75%
Current Drawdown Current decline from peak	-6.82%	-10.15%	+3.33%
Average Drawdown Average peak-to-trough decline	-5.16%	-20.53%	+15.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.88%	16.58%	-9.70%

Volatility

NVYY vs. WNTR - Volatility Comparison

The current volatility for GraniteShares YieldBOOST NVDA ETF (NVYY) is 2.90%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.84%. This indicates that NVYY 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

	NVYY	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	18.84%	-15.94%
Volatility (6M) Calculated over the trailing 6-month period	15.76%	47.46%	-31.70%
Volatility (1Y) Calculated over the trailing 1-year period	24.00%	53.83%	-29.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.31%	53.56%	-30.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.31%	53.56%	-30.25%

NVYY vs. WNTR - Expense Ratio Comparison

NVYY has a 1.07% expense ratio, which is higher than WNTR's 1.01% expense ratio.

Dividends

NVYY vs. WNTR - Dividend Comparison

NVYY's dividend yield for the trailing twelve months is around 138.39%, more than WNTR's 102.14% yield.

Position	TTM	2025
NVYY GraniteShares YieldBOOST NVDA ETF	138.39%	75.30%
WNTR YieldMax Short MSTR Option Income Strategy ETF	102.14%	58.56%

Frequently Asked Questions

Can I hold both NVYY and WNTR in my portfolio?

NVYY and WNTR have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVYY or WNTR?

WNTR has higher volatility (18.84%) compared to NVYY (2.90%). In terms of maximum drawdown, NVYY dropped -14.90% vs WNTR's -42.65%.

Which ETF is better, NVYY or WNTR?

On 1-year performance, WNTR leads with 120.64% vs 13.05% for NVYY. On fees, WNTR is cheaper at 1.01% per year. On volatility, NVYY has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVYY or WNTR?

Over the 1-year period, WNTR has performed better with a 120.64% return vs 13.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVYY or WNTR?

WNTR is cheaper with a 1.01% expense ratio, compared with 1.07% for NVYY.

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

NVYY has the higher dividend yield at 138.39%, compared with 102.14% for WNTR.

What is the main difference between NVYY and WNTR?

NVYY is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: GraniteShares and YieldMax. Their fees differ too: 1.07% for NVYY and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.26 vs 0.55), 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.