PTF vs. WNTR

Last updated Jul 16, 2026

PTF (Invesco Dorsey Wright Technology Momentum ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - PTF is a Momentum fund tracking the Dorsey Wright Technology Technical Leaders Index, while WNTR is a Derivative Income fund actively managed by YieldMax. PTF is passively managed, while WNTR is actively managed. Over the past year, PTF returned 60.82% vs 117.98% for WNTR. At a correlation of -0.40, they often move in opposite directions. PTF charges 0.60%/yr vs 1.01%/yr for WNTR.

Performance

PTF vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dorsey Wright Technology Momentum ETF (PTF) 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, PTF achieves a 42.26% return, which is significantly higher than WNTR's 6.35% return.

PTF

• 1D: -3.81%
• 1M: -20.00%
• 6M: 31.78%
• YTD: 42.26%
• 1Y: 60.82%
• 3Y*: 29.39%
• 5Y*: 18.13%
• 10Y*: 23.75%

WNTR

• 1D: 0.37%
• 1M: 20.43%
• 6M: 21.18%
• YTD: 6.35%
• 1Y: 117.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PTF vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
PTF Invesco Dorsey Wright Technology Momentum ETF	42.26%	21.92%
WNTR YieldMax Short MSTR Option Income Strategy ETF	6.35%	52.78%

Correlation

The correlation between PTF 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	-0.40

Return for Risk

PTF vs. WNTR — Risk / Return Rank

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

PTF

PTF Risk / Return Rank: 55
PTF Sharpe Ratio Rank: 47
PTF Sortino Ratio Rank: 42
PTF Omega Ratio Rank: 46
PTF Calmar Ratio Rank: 70
PTF Martin Ratio Rank: 70

WNTR

WNTR Risk / Return Rank: 69
WNTR Sharpe Ratio Rank: 86
WNTR Sortino Ratio Rank: 66
WNTR Omega Ratio Rank: 70
WNTR Calmar Ratio Rank: 69
WNTR Martin Ratio Rank: 51

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.

PTF vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Technology Momentum ETF (PTF) 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.

	PTF	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.21	-0.87
Sortino ratio: Return per unit of downside risk	1.77	2.44	-0.67
Omega ratio: Gain probability vs. loss probability	1.24	1.33	-0.09
Calmar ratio: Return relative to maximum drawdown	2.80	2.78	+0.01
Martin ratio: Return relative to average drawdown	10.19	7.13	+3.06

PTF vs. WNTR - Sharpe Ratio Comparison

The current PTF Sharpe Ratio is 1.34, which is lower than the WNTR Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of PTF 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

PTF vs. WNTR - Drawdown Comparison

The maximum PTF drawdown since its inception was -55.38%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for PTF and WNTR.

Drawdown Indicators

	PTF	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-42.65%	-12.73%
Max Drawdown (1Y) Largest decline over 1 year	-21.86%	-42.65%	+20.79%
Max Drawdown (3Y) Largest decline over 3 years	-36.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.88%	—	—
Current Drawdown Current decline from peak	-21.36%	-13.23%	-8.13%
Average Drawdown Average peak-to-trough decline	-13.25%	-20.49%	+7.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.99%	16.62%	-10.63%

Volatility

PTF vs. WNTR - Volatility Comparison

Invesco Dorsey Wright Technology Momentum ETF (PTF) has a higher volatility of 22.58% compared to YieldMax Short MSTR Option Income Strategy ETF (WNTR) at 18.90%. This indicates that PTF'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

	PTF	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.58%	18.90%	+3.68%
Volatility (6M) Calculated over the trailing 6-month period	37.35%	47.35%	-10.00%
Volatility (1Y) Calculated over the trailing 1-year period	45.58%	53.75%	-8.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.62%	53.51%	-16.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.83%	53.51%	-19.68%

PTF vs. WNTR - Expense Ratio Comparison

PTF has a 0.60% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

PTF vs. WNTR - Dividend Comparison

PTF's dividend yield for the trailing twelve months is around 0.01%, less than WNTR's 105.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PTF Invesco Dorsey Wright Technology Momentum ETF	0.01%	0.21%	0.00%	0.07%	0.00%	0.00%	0.00%	0.00%	0.08%	0.04%	0.26%
WNTR YieldMax Short MSTR Option Income Strategy ETF	105.78%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PTF and WNTR in my portfolio?

PTF 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, PTF or WNTR?

PTF has higher volatility (22.58%) compared to WNTR (18.90%). In terms of maximum drawdown, PTF dropped -55.38% vs WNTR's -42.65%.

Which ETF is better, PTF or WNTR?

On 1-year performance, WNTR leads with 117.98% vs 60.82% for PTF. On fees, PTF is cheaper at 0.60% per year. On volatility, WNTR has been the lower-risk option at 18.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTF or WNTR?

Over the 1-year period, WNTR has performed better with a 117.98% return vs 60.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTF or WNTR?

PTF is cheaper with a 0.60% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 105.78%, compared with 0.01% for PTF.

What is the main difference between PTF and WNTR?

PTF is categorized as Momentum, while WNTR is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.60% for PTF and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.21 vs 1.34), 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.