RDTE vs. WNTR

Last updated Jul 14, 2026

RDTE (Roundhill Russell 2000 0DTE Covered Call Strategy ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, RDTE returned 26.83% vs 120.64% for WNTR. At a correlation of -0.45, they often move in opposite directions. RDTE charges 0.97%/yr vs 1.01%/yr for WNTR.

Performance

RDTE vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE) 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, RDTE achieves a 17.79% return, which is significantly higher than WNTR's 10.13% return.

RDTE

• 1D: -0.55%
• 1M: 2.84%
• 6M: 13.42%
• YTD: 17.79%
• 1Y: 26.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 1.92%
• 1M: 18.08%
• 6M: 14.43%
• YTD: 10.13%
• 1Y: 120.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RDTE vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	17.79%	13.95%
WNTR YieldMax Short MSTR Option Income Strategy ETF	10.13%	52.78%

Correlation

The correlation between RDTE 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

RDTE vs. WNTR — Risk / Return Rank

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

RDTE

RDTE Risk / Return Rank: 63
RDTE Sharpe Ratio Rank: 59
RDTE Sortino Ratio Rank: 58
RDTE Omega Ratio Rank: 54
RDTE Calmar Ratio Rank: 73
RDTE Martin Ratio Rank: 70

WNTR

WNTR Risk / Return Rank: 70
WNTR Sharpe Ratio Rank: 88
WNTR Sortino Ratio Rank: 67
WNTR Omega Ratio Rank: 72
WNTR Calmar Ratio Rank: 71
WNTR Martin Ratio Rank: 54

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.

RDTE vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE) 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.

	RDTE	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.26	-0.68
Sortino ratio: Return per unit of downside risk	2.19	2.47	-0.28
Omega ratio: Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	2.94	2.84	+0.10
Martin ratio: Return relative to average drawdown	10.18	7.31	+2.88

RDTE vs. WNTR - Sharpe Ratio Comparison

The current RDTE Sharpe Ratio is 1.58, which is lower than the WNTR Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of RDTE 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

RDTE vs. WNTR - Drawdown Comparison

The maximum RDTE drawdown since its inception was -24.32%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for RDTE and WNTR.

Drawdown Indicators

	RDTE	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-24.32%	-42.65%	+18.33%
Max Drawdown (1Y) Largest decline over 1 year	-9.17%	-42.65%	+33.48%
Current Drawdown Current decline from peak	-1.29%	-10.15%	+8.86%
Average Drawdown Average peak-to-trough decline	-4.44%	-20.53%	+16.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	16.58%	-13.94%

Volatility

RDTE vs. WNTR - Volatility Comparison

The current volatility for Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE) is 4.30%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.84%. This indicates that RDTE 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

	RDTE	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	18.84%	-14.54%
Volatility (6M) Calculated over the trailing 6-month period	13.03%	47.46%	-34.43%
Volatility (1Y) Calculated over the trailing 1-year period	17.14%	53.83%	-36.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.10%	53.56%	-34.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.10%	53.56%	-34.46%

RDTE vs. WNTR - Expense Ratio Comparison

RDTE has a 0.97% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

RDTE vs. WNTR - Dividend Comparison

RDTE's dividend yield for the trailing twelve months is around 44.43%, less than WNTR's 102.14% yield.

Position	TTM	2025	2024
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	44.43%	50.16%	10.70%
WNTR YieldMax Short MSTR Option Income Strategy ETF	102.14%	58.56%	0.00%

Frequently Asked Questions

Can I hold both RDTE and WNTR in my portfolio?

RDTE 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, RDTE or WNTR?

WNTR has higher volatility (18.84%) compared to RDTE (4.30%). In terms of maximum drawdown, RDTE dropped -24.32% vs WNTR's -42.65%.

Which ETF is better, RDTE or WNTR?

On 1-year performance, WNTR leads with 120.64% vs 26.83% for RDTE. On fees, RDTE is cheaper at 0.97% per year. On volatility, RDTE has been the lower-risk option at 4.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDTE or WNTR?

Over the 1-year period, WNTR has performed better with a 120.64% return vs 26.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDTE or WNTR?

RDTE is cheaper with a 0.97% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 102.14%, compared with 44.43% for RDTE.

What is the main difference between RDTE and WNTR?

They also come from different issuers: Roundhill and YieldMax. Their fees differ too: 0.97% for RDTE and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.26 vs 1.58), 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.