QCLN vs. WNTR

Last updated Jul 12, 2026

QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - QCLN is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Green Energy Index, while WNTR is a Derivative Income fund actively managed by YieldMax. QCLN is passively managed, while WNTR is actively managed. Over the past year, QCLN returned 61.00% vs 116.49% for WNTR. At a correlation of -0.41, they often move in opposite directions. QCLN charges 0.59%/yr vs 1.01%/yr for WNTR.

Performance

QCLN vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) 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, QCLN achieves a 24.93% return, which is significantly higher than WNTR's 8.06% return.

QCLN

• 1D: -1.50%
• 1M: -9.42%
• 6M: 14.96%
• YTD: 24.93%
• 1Y: 61.00%
• 3Y*: 1.54%
• 5Y*: -2.98%
• 10Y*: 14.82%

WNTR

• 1D: -0.43%
• 1M: 15.85%
• 6M: 10.45%
• YTD: 8.06%
• 1Y: 116.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCLN vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	24.93%	50.08%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between QCLN and WNTR is -0.39, 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	-0.39
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.41

Return for Risk

QCLN vs. WNTR — Risk / Return Rank

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

QCLN

QCLN Risk / Return Rank: 59
QCLN Sharpe Ratio Rank: 55
QCLN Sortino Ratio Rank: 50
QCLN Omega Ratio Rank: 48
QCLN Calmar Ratio Rank: 73
QCLN Martin Ratio Rank: 66

WNTR

WNTR Risk / Return Rank: 65
WNTR Sharpe Ratio Rank: 81
WNTR Sortino Ratio Rank: 63
WNTR Omega Ratio Rank: 67
WNTR Calmar Ratio Rank: 65
WNTR Martin Ratio Rank: 49

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.

QCLN vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) 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.

	QCLN	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.06	-0.55
Sortino ratio: Return per unit of downside risk	2.00	2.34	-0.34
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.07
Calmar ratio: Return relative to maximum drawdown	2.99	2.60	+0.39
Martin ratio: Return relative to average drawdown	9.61	6.69	+2.92

QCLN vs. WNTR - Sharpe Ratio Comparison

The current QCLN Sharpe Ratio is 1.51, which is comparable to the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of QCLN 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

QCLN vs. WNTR - Drawdown Comparison

The maximum QCLN drawdown since its inception was -76.18%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for QCLN and WNTR.

Drawdown Indicators

	QCLN	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-76.18%	-42.65%	-33.53%
Max Drawdown (1Y) Largest decline over 1 year	-19.67%	-42.65%	+22.98%
Max Drawdown (3Y) Largest decline over 3 years	-56.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-69.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-71.73%	—	—
Current Drawdown Current decline from peak	-35.46%	-11.84%	-23.62%
Average Drawdown Average peak-to-trough decline	-43.37%	-20.57%	-22.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.12%	16.58%	-10.46%

Volatility

QCLN vs. WNTR - Volatility Comparison

The current volatility for First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) is 17.67%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that QCLN 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

	QCLN	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.67%	18.80%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	31.80%	47.57%	-15.77%
Volatility (1Y) Calculated over the trailing 1-year period	39.06%	53.81%	-14.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.81%	53.62%	-14.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.35%	53.62%	-18.27%

QCLN vs. WNTR - Expense Ratio Comparison

QCLN has a 0.59% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

QCLN vs. WNTR - Dividend Comparison

QCLN's dividend yield for the trailing twelve months is around 0.15%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.15%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	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

Can I hold both QCLN and WNTR in my portfolio?

QCLN and WNTR have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QCLN or WNTR?

WNTR has higher volatility (18.80%) compared to QCLN (17.67%). In terms of maximum drawdown, QCLN dropped -76.18% vs WNTR's -42.65%.

Which ETF is better, QCLN or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 61.00% for QCLN. On fees, QCLN is cheaper at 0.59% per year. On volatility, QCLN has been the lower-risk option at 17.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCLN or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 61.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCLN or WNTR?

QCLN is cheaper with a 0.59% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 104.11%, compared with 0.15% for QCLN.

What is the main difference between QCLN and WNTR?

QCLN is categorized as Alternative Energy Equities, while WNTR is Derivative Income. They also come from different issuers: First Trust and YieldMax. Their fees differ too: 0.59% for QCLN and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.06 vs 1.51), 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.