SIVR vs. WNTR

Last updated Jul 15, 2026

SIVR (abrdn Physical Silver Shares ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt), while WNTR is a Derivative Income fund actively managed by YieldMax. SIVR is passively managed, while WNTR is actively managed. Over the past year, SIVR returned 53.76% vs 119.74% for WNTR. At a correlation of -0.20, they often move in opposite directions. SIVR charges 0.30%/yr vs 1.01%/yr for WNTR.

Performance

SIVR vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Silver Shares ETF (SIVR) 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, SIVR achieves a -17.37% return, which is significantly lower than WNTR's 5.96% return.

SIVR

• 1D: 1.93%
• 1M: -13.25%
• 6M: -32.30%
• YTD: -17.37%
• 1Y: 53.76%
• 3Y*: 32.77%
• 5Y*: 17.10%
• 10Y*: 11.01%

WNTR

• 1D: -3.79%
• 1M: 13.60%
• 6M: 16.72%
• YTD: 5.96%
• 1Y: 119.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIVR vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
SIVR abrdn Physical Silver Shares ETF	-17.37%	111.18%
WNTR YieldMax Short MSTR Option Income Strategy ETF	5.96%	52.78%

Correlation

The correlation between SIVR and WNTR is -0.23, 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	-0.23
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.20

Return for Risk

SIVR vs. WNTR — Risk / Return Rank

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

SIVR

SIVR Risk / Return Rank: 29
SIVR Sharpe Ratio Rank: 30
SIVR Sortino Ratio Rank: 29
SIVR Omega Ratio Rank: 39
SIVR Calmar Ratio Rank: 27
SIVR Martin Ratio Rank: 22

WNTR

WNTR Risk / Return Rank: 70
WNTR Sharpe Ratio Rank: 87
WNTR Sortino Ratio Rank: 67
WNTR Omega Ratio Rank: 72
WNTR Calmar Ratio Rank: 71
WNTR Martin Ratio Rank: 53

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.

SIVR vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) 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.

	SIVR	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.89	2.24	-1.35
Sortino ratio: Return per unit of downside risk	1.33	2.46	-1.13
Omega ratio: Gain probability vs. loss probability	1.21	1.34	-0.13
Calmar ratio: Return relative to maximum drawdown	1.06	2.82	-1.76
Martin ratio: Return relative to average drawdown	2.18	7.24	-5.07

SIVR vs. WNTR - Sharpe Ratio Comparison

The current SIVR Sharpe Ratio is 0.89, which is lower than the WNTR Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of SIVR 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

SIVR vs. WNTR - Drawdown Comparison

The maximum SIVR drawdown since its inception was -75.85%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for SIVR and WNTR.

Drawdown Indicators

	SIVR	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-75.85%	-42.65%	-33.20%
Max Drawdown (1Y) Largest decline over 1 year	-50.92%	-42.65%	-8.27%
Max Drawdown (3Y) Largest decline over 3 years	-50.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-50.92%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.92%	—	—
Current Drawdown Current decline from peak	-49.59%	-13.55%	-36.04%
Average Drawdown Average peak-to-trough decline	-47.83%	-20.51%	-27.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.77%	16.60%	+8.17%

Volatility

SIVR vs. WNTR - Volatility Comparison

The current volatility for abrdn Physical Silver Shares ETF (SIVR) is 13.45%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 19.07%. This indicates that SIVR 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

	SIVR	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.45%	19.07%	-5.62%
Volatility (6M) Calculated over the trailing 6-month period	57.37%	47.38%	+9.99%
Volatility (1Y) Calculated over the trailing 1-year period	60.96%	53.89%	+7.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.88%	53.60%	-16.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.21%	53.60%	-21.39%

SIVR vs. WNTR - Expense Ratio Comparison

SIVR has a 0.30% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

SIVR vs. WNTR - Dividend Comparison

SIVR has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 106.17%.

Position	TTM	2025
SIVR abrdn Physical Silver Shares ETF	0.00%	0.00%
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.17%	58.56%

Frequently Asked Questions

Can I hold both SIVR and WNTR in my portfolio?

SIVR and WNTR have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIVR or WNTR?

WNTR has higher volatility (19.07%) compared to SIVR (13.45%). In terms of maximum drawdown, SIVR dropped -75.85% vs WNTR's -42.65%.

Which ETF is better, SIVR or WNTR?

On 1-year performance, WNTR leads with 119.74% vs 53.76% for SIVR. On fees, SIVR is cheaper at 0.30% per year. On volatility, SIVR has been the lower-risk option at 13.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIVR or WNTR?

Over the 1-year period, WNTR has performed better with a 119.74% return vs 53.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIVR or WNTR?

SIVR is cheaper with a 0.30% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 106.17%, compared with 0.00% for SIVR.

What is the main difference between SIVR and WNTR?

SIVR is categorized as Silver, while WNTR is Derivative Income. They also come from different issuers: abrdn and YieldMax. Their fees differ too: 0.30% for SIVR and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.24 vs 0.89), 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.