QQQS vs. WNTR

Last updated Aug 4, 2026

QQQS (Invesco NASDAQ Future Gen 200 ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - QQQS is a Small Cap Blend Equities fund tracking the Nasdaq Innovators Completion Cap Total Return Index, while WNTR is a Derivative Income fund actively managed by YieldMax. QQQS is passively managed, while WNTR is actively managed. Over the past year, QQQS returned 63.29% vs 106.92% for WNTR. Their -0.48 correlation means they have often moved in opposite directions in the past. QQQS charges 0.20%/yr vs 1.00%/yr for WNTR.

Performance

QQQS vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ Future Gen 200 ETF (QQQS) and YieldMax MSTR Short 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, QQQS achieves a 25.90% return, which is significantly higher than WNTR's 10.51% return.

QQQS

• 1D: 2.75%
• 1M: -2.92%
• 6M: 20.13%
• YTD: 25.90%
• 1Y: 63.29%
• 3Y*: 16.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.81%

WNTR

• 1D: -0.22%
• 1M: 7.89%
• 6M: 8.31%
• YTD: 10.51%
• 1Y: 106.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQQS Invesco NASDAQ Future Gen 200 ETF	$265.41K	$341.43K	$375.31K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$3.92M	$3.66M	$3.95M

QQQS vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
QQQS Invesco NASDAQ Future Gen 200 ETF	25.90%	42.63%
WNTR YieldMax MSTR Short Option Income Strategy ETF	10.51%	52.78%

Correlation

The correlation between QQQS and WNTR is -0.50, 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.	-0.50
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.48

Return for Risk

QQQS vs. WNTR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQQS

QQQS Risk / Return Rank: 88
QQQS Sharpe Ratio Rank: 90
QQQS Sortino Ratio Rank: 87
QQQS Omega Ratio Rank: 82
QQQS Calmar Ratio Rank: 93
QQQS Martin Ratio Rank: 90

WNTR

WNTR Risk / Return Rank: 69
WNTR Sharpe Ratio Rank: 83
WNTR Sortino Ratio Rank: 67
WNTR Omega Ratio Rank: 71
WNTR Calmar Ratio Rank: 70
WNTR Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQQS vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Future Gen 200 ETF (QQQS) 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.

	QQQS	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	2.33	1.97	+0.36
Sortino ratio: Return per unit of downside risk	3.03	2.27	+0.76
Omega ratio: Gain probability vs. loss probability	1.36	1.30	+0.06
Calmar ratio: Return relative to maximum drawdown	4.67	2.52	+2.15
Martin ratio: Return relative to average drawdown	14.63	6.38	+8.25

QQQS vs. WNTR - Sharpe Ratio Comparison

The current QQQS Sharpe Ratio is 2.33, which is comparable to the WNTR Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of QQQS 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

QQQS vs. WNTR - Drawdown Comparison

The maximum QQQS drawdown since its inception was -38.06%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for QQQS and WNTR.

Drawdown Indicators

	QQQS	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-38.06%	-42.65%	+4.59%
Max Drawdown (1Y) Largest decline over 1 year	-13.63%	-42.65%	+29.02%
Max Drawdown (3Y) Largest decline over 3 years	-34.32%	—	—
Current Drawdown Current decline from peak	-3.79%	-9.84%	+6.05%
Average Drawdown Average peak-to-trough decline	-12.86%	-20.15%	+7.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.34%	16.83%	-12.49%

Volatility

QQQS vs. WNTR - Volatility Comparison

The current volatility for Invesco NASDAQ Future Gen 200 ETF (QQQS) is 6.79%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 13.00%. This indicates that QQQS 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

	QQQS	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.79%	13.00%	-6.21%
Volatility (6M) Calculated over the trailing 6-month period	20.39%	47.22%	-26.83%
Volatility (1Y) Calculated over the trailing 1-year period	27.38%	54.66%	-27.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.43%	53.34%	-24.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.43%	53.34%	-24.91%

QQQS vs. WNTR - Expense Ratio Comparison

QQQS has a 0.20% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

QQQS vs. WNTR - Dividend Comparison

QQQS's dividend yield for the trailing twelve months is around 2.62%, less than WNTR's 107.26% yield.

Position	TTM	2025	2024	2023	2022
QQQS Invesco NASDAQ Future Gen 200 ETF	2.62%	3.48%	0.80%	0.68%	0.04%
WNTR YieldMax MSTR Short Option Income Strategy ETF	107.26%	58.56%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQQS and WNTR in my portfolio?

QQQS and WNTR have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQS or WNTR?

WNTR has higher volatility (13.00%) compared to QQQS (6.79%). In terms of maximum drawdown, QQQS dropped -38.06% vs WNTR's -42.65%.

Which ETF is better, QQQS or WNTR?

On 1-year performance, WNTR leads with 106.92% vs 63.29% for QQQS. On fees, QQQS is cheaper at 0.20% per year. On volatility, QQQS has been the lower-risk option at 6.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQS or WNTR?

Over the 1-year period, WNTR has performed better with a 106.92% return vs 63.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQS or WNTR?

QQQS is cheaper with a 0.20% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 107.26%, compared with 2.62% for QQQS.

What is the main difference between QQQS and WNTR?

QQQS is categorized as Small Cap Blend Equities, while WNTR is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.20% for QQQS and 1.00% for WNTR.

Which has better risk-adjusted returns?

QQQS currently has the higher Sharpe Ratio (2.33 vs 1.97), 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.