SPUC vs. WNTR
SPUC (Simplify US Equity PLUS Upside Convexity ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - SPUC is a Large Cap Blend Equities fund actively managed by Simplify, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, SPUC returned 22.91% vs 106.92% for WNTR. Their -0.43 correlation means they have often moved in opposite directions in the past. SPUC charges 0.53%/yr vs 1.00%/yr for WNTR.
Performance
SPUC vs. WNTR - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPUC having a 10.82% return and WNTR slightly lower at 10.51%.
SPUC
- 1D
- 0.83%
- 1M
- 1.91%
- 6M
- 8.10%
- YTD
- 10.82%
- 1Y
- 22.91%
- 3Y*
- 22.30%
- 5Y*
- 12.76%
- 10Y*
- —
- ALL TIME*
- 16.11%
WNTR
- 1D
- -0.22%
- 1M
- 7.89%
- 6M
- 8.31%
- YTD
- 10.51%
- 1Y
- 106.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 47.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.58M | $10.85M | $4.02M | |
| $3.92M | $3.66M | $3.95M |
SPUC vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPUC Simplify US Equity PLUS Upside Convexity ETF | 10.82% | 27.73% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 10.51% | 52.78% |
Correlation
The correlation between SPUC and WNTR is -0.42, 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. | -0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.43 |
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Return for Risk
SPUC vs. WNTR — Risk / Return Rank
SPUC
WNTR
SPUC vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Upside Convexity ETF (SPUC) 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.
| SPUC | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 2.52 | -0.53 |
| Martin ratioReturn relative to average drawdown | 6.65 | 6.38 | +0.27 |
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Drawdowns
SPUC vs. WNTR - Drawdown Comparison
The maximum SPUC drawdown since its inception was -29.20%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for SPUC and WNTR.
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Drawdown Indicators
| SPUC | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.20% | -42.65% | +13.45% |
Max Drawdown (1Y)Largest decline over 1 year | -11.56% | -42.65% | +31.09% |
Max Drawdown (3Y)Largest decline over 3 years | -28.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -9.84% | +9.84% |
Average DrawdownAverage peak-to-trough decline | -8.28% | -20.15% | +11.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 16.83% | -13.37% |
Volatility
SPUC vs. WNTR - Volatility Comparison
The current volatility for Simplify US Equity PLUS Upside Convexity ETF (SPUC) is 4.14%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 13.00%. This indicates that SPUC 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.
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Volatility by Period
| SPUC | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 13.00% | -8.86% |
Volatility (6M)Calculated over the trailing 6-month period | 10.95% | 47.22% | -36.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.76% | 54.66% | -37.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.96% | 53.34% | -31.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.33% | 53.34% | -32.01% |
SPUC vs. WNTR - Expense Ratio Comparison
SPUC has a 0.53% expense ratio, which is lower than WNTR's 1.00% expense ratio.
Dividends
SPUC vs. WNTR - Dividend Comparison
SPUC's dividend yield for the trailing twelve months is around 10.99%, less than WNTR's 107.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
SPUC Simplify US Equity PLUS Upside Convexity ETF | 10.99% | 7.70% | 0.94% | 1.33% | 1.53% | 2.00% | 0.75% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 107.26% | 58.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPUC and WNTR have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (13.00%) compared to SPUC (4.14%). In terms of maximum drawdown, SPUC dropped -29.20% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 106.92% vs 22.91% for SPUC. On fees, SPUC is cheaper at 0.53% per year. On volatility, SPUC has been the lower-risk option at 4.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, WNTR has performed better with a 106.92% return vs 22.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUC is cheaper with a 0.53% expense ratio, compared with 1.00% for WNTR.
WNTR has the higher dividend yield at 107.26%, compared with 10.99% for SPUC.
SPUC is categorized as Large Cap Blend Equities, while WNTR is Derivative Income. They also come from different issuers: Simplify and YieldMax. Their fees differ too: 0.53% for SPUC and 1.00% for WNTR.
WNTR currently has the higher Sharpe Ratio (1.97 vs 1.38), 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.
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