PSP vs. WNTR
PSP (Invesco Global Listed Private Equity ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while WNTR is a Derivative Income fund actively managed by YieldMax. PSP is passively managed, while WNTR is actively managed. Over the past year, PSP returned -9.44% vs 115.04% for WNTR. Their -0.42 correlation means they have often moved in opposite directions in the past. PSP charges 1.44%/yr vs 1.00%/yr for WNTR.
Performance
PSP vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, PSP achieves a -9.07% return, which is significantly lower than WNTR's 10.75% return.
PSP
- 1D
- -0.43%
- 1M
- 6.04%
- 6M
- -9.78%
- YTD
- -9.07%
- 1Y
- -9.44%
- 3Y*
- 9.22%
- 5Y*
- 0.04%
- 10Y*
- 8.10%
- ALL TIME*
- 2.48%
WNTR
- 1D
- 3.26%
- 1M
- 1.00%
- 6M
- 14.92%
- YTD
- 10.75%
- 1Y
- 115.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 47.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.20M | $1.24M | $2.68M | |
| $4.02M | $3.86M | $3.95M |
PSP vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PSP Invesco Global Listed Private Equity ETF | -9.07% | 6.93% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 10.75% | 52.78% |
Correlation
The correlation between PSP and WNTR is -0.40, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.40 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.42 |
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Return for Risk
PSP vs. WNTR — Risk / Return Rank
PSP
WNTR
PSP vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and YieldMax MSTR Short 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.
| PSP | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.32 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 2.71 | -3.14 |
| Martin ratioReturn relative to average drawdown | -0.81 | 6.87 | -7.68 |
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Drawdowns
PSP vs. WNTR - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for PSP and WNTR.
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Drawdown Indicators
| PSP | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.40% | -42.65% | -42.75% |
Max Drawdown (1Y)Largest decline over 1 year | -22.27% | -42.65% | +20.38% |
Max Drawdown (3Y)Largest decline over 3 years | -22.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.16% | — | — |
Current DrawdownCurrent decline from peak | -13.51% | -9.64% | -3.87% |
Average DrawdownAverage peak-to-trough decline | -30.58% | -20.18% | -10.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.63% | 16.81% | -5.18% |
Volatility
PSP vs. WNTR - Volatility Comparison
The current volatility for Invesco Global Listed Private Equity ETF (PSP) is 4.92%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 14.85%. This indicates that PSP 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.
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Volatility by Period
| PSP | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 14.85% | -9.93% |
Volatility (6M)Calculated over the trailing 6-month period | 16.69% | 47.43% | -30.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 54.68% | -34.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.88% | 53.42% | -29.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.30% | 53.42% | -31.12% |
PSP vs. WNTR - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than WNTR's 1.00% expense ratio.
Dividends
PSP vs. WNTR - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 5.99%, less than WNTR's 107.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 5.99% | 5.87% | 8.62% | 3.96% | 2.88% | 10.34% | 4.66% | 5.87% | 6.81% | 10.18% | 4.12% | 6.23% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 107.02% | 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
PSP and WNTR have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (14.85%) compared to PSP (4.92%). In terms of maximum drawdown, PSP dropped -85.40% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 115.04% vs -9.44% for PSP. On fees, WNTR is cheaper at 1.00% per year. On volatility, PSP has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, WNTR has performed better with a 115.04% return vs -9.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WNTR is cheaper with a 1.00% expense ratio, compared with 1.44% for PSP.
WNTR has the higher dividend yield at 107.02%, compared with 5.99% for PSP.
PSP is categorized as Global Equities, while WNTR is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 1.44% for PSP and 1.00% for WNTR.
WNTR currently has the higher Sharpe Ratio (2.12 vs -0.47), 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.
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