QDTY vs. WNTR

Last updated Jun 25, 2026

QDTY (YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - QDTY is a Nasdaq-100 fund actively managed by YieldMax, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, QDTY returned 29.43% vs 97.02% for WNTR. At a correlation of -0.45, they often move in opposite directions. Both charge a 1.01% expense ratio.

Performance

QDTY vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QDTY having a 10.76% return and WNTR slightly lower at 10.46%.

QDTY

• 1D: -1.02%
• 1M: -1.03%
• YTD: 10.76%
• 6M: 9.25%
• 1Y: 29.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 6.01%
• 1M: 37.47%
• YTD: 10.46%
• 6M: 14.06%
• 1Y: 97.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTY vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	10.76%	20.88%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.46%	52.78%

Correlation

The correlation between QDTY and WNTR is -0.43, 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	-0.43
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.45

Return for Risk

QDTY vs. WNTR — Risk / Return Rank

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

QDTY

QDTY Risk / Return Rank: 57
QDTY Sharpe Ratio Rank: 58
QDTY Sortino Ratio Rank: 53
QDTY Omega Ratio Rank: 56
QDTY Calmar Ratio Rank: 60
QDTY Martin Ratio Rank: 59

WNTR

WNTR Risk / Return Rank: 51
WNTR Sharpe Ratio Rank: 63
WNTR Sortino Ratio Rank: 49
WNTR Omega Ratio Rank: 52
WNTR Calmar Ratio Rank: 51
WNTR Martin Ratio Rank: 40

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.

QDTY vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) 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.

	QDTY	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.85	-0.11
Sortino ratio: Return per unit of downside risk	2.29	2.20	+0.09
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	2.66	2.29	+0.38
Martin ratio: Return relative to average drawdown	9.35	5.85	+3.50

QDTY vs. WNTR - Sharpe Ratio Comparison

The current QDTY Sharpe Ratio is 1.74, which is comparable to the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of QDTY 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

QDTY vs. WNTR - Drawdown Comparison

The maximum QDTY drawdown since its inception was -23.45%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for QDTY and WNTR.

Drawdown Indicators

	QDTY	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-23.45%	-42.65%	+19.20%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-42.65%	+31.55%
Current Drawdown Current decline from peak	-4.82%	-9.88%	+5.06%
Average Drawdown Average peak-to-trough decline	-4.43%	-20.93%	+16.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	16.70%	-13.54%

Volatility

QDTY vs. WNTR - Volatility Comparison

The current volatility for YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) is 8.44%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.54%. This indicates that QDTY 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

	QDTY	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.44%	17.54%	-9.10%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	45.99%	-32.18%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	52.83%	-35.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.23%	53.10%	-26.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.23%	53.10%	-26.87%

QDTY vs. WNTR - Expense Ratio Comparison

Both QDTY and WNTR have an expense ratio of 1.01%.

Dividends

QDTY vs. WNTR - Dividend Comparison

QDTY's dividend yield for the trailing twelve months is around 32.16%, less than WNTR's 96.66% yield.

Position	TTM	2025
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	32.16%	26.82%
WNTR YieldMax Short MSTR Option Income Strategy ETF	96.66%	58.56%

Frequently Asked Questions

Can I hold both QDTY and WNTR in my portfolio?

QDTY and WNTR have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDTY or WNTR?

WNTR has higher volatility (17.54%) compared to QDTY (8.44%). In terms of maximum drawdown, QDTY dropped -23.45% vs WNTR's -42.65%.

Which ETF is better, QDTY or WNTR?

On 1-year performance, WNTR leads with 97.02% vs 29.43% for QDTY. Both ETFs have the same 1.01% expense ratio. On volatility, QDTY has been the lower-risk option at 8.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTY or WNTR?

Over the 1-year period, WNTR has performed better with a 97.02% return vs 29.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTY or WNTR?

QDTY and WNTR have the same expense ratio: 1.01% per year.

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

WNTR has the higher dividend yield at 96.66%, compared with 32.16% for QDTY.

What is the main difference between QDTY and WNTR?

QDTY is categorized as Nasdaq-100, while WNTR is Derivative Income.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.85 vs 1.74), 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.