TCHI vs. WNTR

Last updated Aug 5, 2026

TCHI (iShares MSCI China Multisector Tech ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - TCHI is a Technology Equities fund tracking the MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while WNTR is a Derivative Income fund actively managed by YieldMax. TCHI is passively managed, while WNTR is actively managed. Over the past year, TCHI returned 16.31% vs 106.98% for WNTR. Their -0.29 correlation means they have often moved in opposite directions in the past. TCHI charges 0.59%/yr vs 1.00%/yr for WNTR.

Performance

TCHI vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China Multisector Tech ETF (TCHI) 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, TCHI achieves a 2.18% return, which is significantly lower than WNTR's 7.92% return.

TCHI

• 1D: 2.79%
• 1M: -4.16%
• 6M: -0.87%
• YTD: 2.18%
• 1Y: 16.31%
• 3Y*: 10.94%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.31%

WNTR

• 1D: -2.34%
• 1M: 5.36%
• 6M: 2.42%
• YTD: 7.92%
• 1Y: 106.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 44.62%

*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)
TCHI iShares MSCI China Multisector Tech ETF	$300.26K	$346.07K	$396.84K
WNTR YieldMax MSTR Short Option Income Strategy ETF	$3.95M	$3.66M	$3.95M

TCHI vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
TCHI iShares MSCI China Multisector Tech ETF	2.18%	17.29%
WNTR YieldMax MSTR Short Option Income Strategy ETF	7.92%	52.78%

Correlation

The correlation between TCHI and WNTR is -0.28, 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.	-0.28
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.29

Return for Risk

TCHI vs. WNTR — Risk / Return Rank

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

TCHI

TCHI Risk / Return Rank: 23
TCHI Sharpe Ratio Rank: 23
TCHI Sortino Ratio Rank: 24
TCHI Omega Ratio Rank: 23
TCHI Calmar Ratio Rank: 24
TCHI Martin Ratio Rank: 21

WNTR

WNTR Risk / Return Rank: 63
WNTR Sharpe Ratio Rank: 77
WNTR Sortino Ratio Rank: 59
WNTR Omega Ratio Rank: 63
WNTR Calmar Ratio Rank: 64
WNTR Martin Ratio Rank: 50

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.

TCHI vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Multisector Tech ETF (TCHI) 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.

	TCHI	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.57	1.97	-1.40
Sortino ratio: Return per unit of downside risk	0.97	2.27	-1.30
Omega ratio: Gain probability vs. loss probability	1.12	1.30	-0.18
Calmar ratio: Return relative to maximum drawdown	0.79	2.52	-1.73
Martin ratio: Return relative to average drawdown	1.64	6.38	-4.74

TCHI vs. WNTR - Sharpe Ratio Comparison

The current TCHI Sharpe Ratio is 0.57, which is lower than the WNTR Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of TCHI 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

TCHI vs. WNTR - Drawdown Comparison

The maximum TCHI drawdown since its inception was -43.96%, roughly equal to the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for TCHI and WNTR.

Drawdown Indicators

	TCHI	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-43.96%	-42.65%	-1.31%
Max Drawdown (1Y) Largest decline over 1 year	-20.73%	-42.65%	+21.92%
Max Drawdown (3Y) Largest decline over 3 years	-27.78%	—	—
Current Drawdown Current decline from peak	-10.60%	-11.95%	+1.35%
Average Drawdown Average peak-to-trough decline	-20.96%	-20.12%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.99%	16.84%	-6.85%

Volatility

TCHI vs. WNTR - Volatility Comparison

The current volatility for iShares MSCI China Multisector Tech ETF (TCHI) is 10.62%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 13.23%. This indicates that TCHI 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

	TCHI	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.62%	13.23%	-2.61%
Volatility (6M) Calculated over the trailing 6-month period	21.50%	46.95%	-25.45%
Volatility (1Y) Calculated over the trailing 1-year period	28.67%	54.62%	-25.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.92%	53.31%	-18.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.92%	53.31%	-18.39%

TCHI vs. WNTR - Expense Ratio Comparison

TCHI has a 0.59% expense ratio, which is lower than WNTR's 1.00% expense ratio.

Dividends

TCHI vs. WNTR - Dividend Comparison

TCHI's dividend yield for the trailing twelve months is around 2.27%, less than WNTR's 109.83% yield.

Position	TTM	2025	2024	2023	2022
TCHI iShares MSCI China Multisector Tech ETF	2.27%	2.44%	2.49%	4.28%	1.07%
WNTR YieldMax MSTR Short Option Income Strategy ETF	109.83%	58.56%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TCHI and WNTR in my portfolio?

TCHI and WNTR have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TCHI or WNTR?

WNTR has higher volatility (13.23%) compared to TCHI (10.62%). In terms of maximum drawdown, TCHI dropped -43.96% vs WNTR's -42.65%.

Which ETF is better, TCHI or WNTR?

On 1-year performance, WNTR leads with 106.98% vs 16.31% for TCHI. On fees, TCHI is cheaper at 0.59% per year. On volatility, TCHI has been the lower-risk option at 10.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TCHI or WNTR?

Over the 1-year period, WNTR has performed better with a 106.98% return vs 16.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TCHI or WNTR?

TCHI is cheaper with a 0.59% expense ratio, compared with 1.00% for WNTR.

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

WNTR has the higher dividend yield at 109.83%, compared with 2.27% for TCHI.

What is the main difference between TCHI and WNTR?

TCHI is categorized as Technology Equities, while WNTR is Derivative Income. They also come from different issuers: iShares and YieldMax. Their fees differ too: 0.59% for TCHI and 1.00% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (1.97 vs 0.57), 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.