PUTW vs. WTPI

Last updated Jun 3, 2026

PUTW (WisdomTree Equity Premium Income Fund) and WTPI (WisdomTree Equity Premium Income Fund) are both Derivative Income funds from WisdomTree tracking the Volos U.S. Large Cap Target 2.5% PutWrite Index. Both are passively managed. Over the past 10 years, PUTW returned 8.32%/yr vs 8.32%/yr for WTPI. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.44% expense ratio.

Performance

PUTW vs. WTPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Equity Premium Income Fund (PUTW) and WisdomTree Equity Premium Income Fund (WTPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with PUTW at 4.45% and WTPI at 4.45%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: PUTW at 8.32% and WTPI at 8.32%.

PUTW

• 1D: -0.09%
• 1M: 2.14%
• YTD: 4.45%
• 6M: 5.19%
• 1Y: 19.36%
• 3Y*: 13.69%
• 5Y*: 10.02%
• 10Y*: 8.32%

WTPI

• 1D: -0.09%
• 1M: 2.14%
• YTD: 4.45%
• 6M: 5.19%
• 1Y: 19.36%
• 3Y*: 13.69%
• 5Y*: 10.02%
• 10Y*: 8.32%

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

PUTW vs. WTPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PUTW WisdomTree Equity Premium Income Fund	4.45%	14.45%	17.18%	15.53%	-10.11%	20.94%	1.65%	13.55%	-7.16%	10.09%
WTPI WisdomTree Equity Premium Income Fund	4.45%	14.45%	17.18%	15.53%	-10.11%	20.94%	1.65%	13.55%	-7.16%	10.09%

Correlation

The correlation between PUTW and WTPI is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Feb 25, 2016	1.00

The correlation between PUTW and WTPI has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

PUTW vs. WTPI — Risk / Return Rank

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

PUTW

PUTW Risk / Return Rank: 58
PUTW Sharpe Ratio Rank: 55
PUTW Sortino Ratio Rank: 52
PUTW Omega Ratio Rank: 64
PUTW Calmar Ratio Rank: 50
PUTW Martin Ratio Rank: 67

WTPI

WTPI Risk / Return Rank: 66
WTPI Sharpe Ratio Rank: 65
WTPI Sortino Ratio Rank: 66
WTPI Omega Ratio Rank: 74
WTPI Calmar Ratio Rank: 54
WTPI Martin Ratio Rank: 69

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.

PUTW vs. WTPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Equity Premium Income Fund (PUTW) and WisdomTree Equity Premium Income Fund (WTPI). 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.

	PUTW	WTPI	Difference
Sharpe ratio Return per unit of total volatility	2.20	2.20	0.00
Sortino ratio Return per unit of downside risk	3.06	3.06	0.00
Omega ratio Gain probability vs. loss probability	1.44	1.44	0.00
Calmar ratio Return relative to maximum drawdown	2.74	2.74	0.00
Martin ratio Return relative to average drawdown	13.14	13.14	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PUTW vs. WTPI - Sharpe Ratio Comparison

The current PUTW Sharpe Ratio is 2.20, which is comparable to the WTPI Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of PUTW and WTPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PUTW	WTPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.20	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.83	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.63	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.65	0.00

Drawdowns

PUTW vs. WTPI - Drawdown Comparison

The maximum PUTW drawdown since its inception was -28.40%, roughly equal to the maximum WTPI drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for PUTW and WTPI.

Drawdown Indicators

	PUTW	WTPI	Difference
Max Drawdown Largest peak-to-trough decline	-28.40%	-28.40%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-7.15%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-15.26%	-15.26%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-16.56%	-16.56%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-28.40%	-28.40%	0.00%
Current Drawdown Current decline from peak	-0.09%	-0.09%	0.00%
Average Drawdown Average peak-to-trough decline	-3.44%	-3.44%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.49%	1.49%	0.00%

Volatility

PUTW vs. WTPI - Volatility Comparison

WisdomTree Equity Premium Income Fund (PUTW) and WisdomTree Equity Premium Income Fund (WTPI) have volatilities of 0.86% and 0.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PUTW	WTPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	0.86%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.00%	7.00%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	8.86%	8.86%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.13%	12.13%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.22%	13.22%	0.00%

PUTW vs. WTPI - Expense Ratio Comparison

Both PUTW and WTPI have an expense ratio of 0.44%.

Dividends

PUTW vs. WTPI - Dividend Comparison

PUTW's dividend yield for the trailing twelve months is around 12.03%, which matches WTPI's 12.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PUTW WisdomTree Equity Premium Income Fund	12.03%	13.18%	11.99%	8.94%	3.27%	0.00%	1.43%	1.47%	6.46%	3.52%	2.27%
WTPI WisdomTree Equity Premium Income Fund	12.03%	13.18%	11.99%	8.94%	3.27%	0.00%	1.43%	1.47%	6.46%	3.52%	2.27%

Frequently Asked Questions

Can I hold both PUTW and WTPI in my portfolio?

With a correlation of 1.00, PUTW and WTPI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PUTW or WTPI?

WTPI has higher volatility (0.86%) compared to PUTW (0.86%). In terms of maximum drawdown, PUTW dropped -28.40% vs WTPI's -28.40%.

Which has better risk-adjusted returns?

WTPI currently has the higher Sharpe Ratio (2.20 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.