WNTR vs. BUYW

Last updated Jun 4, 2026

WNTR (YieldMax Short MSTR Option Income Strategy ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, WNTR returned 73.88% vs 9.76% for BUYW. At a correlation of -0.38, they often move in opposite directions. WNTR charges 1.01%/yr vs 1.29%/yr for BUYW.

Performance

WNTR vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short MSTR Option Income Strategy ETF (WNTR) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WNTR achieves a -7.49% return, which is significantly lower than BUYW's 3.39% return.

WNTR

• 1D: 4.50%
• 1M: 25.47%
• YTD: -7.49%
• 6M: 10.48%
• 1Y: 73.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

WNTR vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025
WNTR YieldMax Short MSTR Option Income Strategy ETF	-7.49%	54.43%
BUYW Main Buywrite ETF	3.39%	8.70%

Correlation

The correlation between WNTR and BUYW is -0.31, 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	-0.31
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025	-0.38

Return for Risk

WNTR vs. BUYW — Risk / Return Rank

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

WNTR

WNTR Risk / Return Rank: 36
WNTR Sharpe Ratio Rank: 41
WNTR Sortino Ratio Rank: 35
WNTR Omega Ratio Rank: 39
WNTR Calmar Ratio Rank: 35
WNTR Martin Ratio Rank: 31

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

WNTR vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short MSTR Option Income Strategy ETF (WNTR) and Main Buywrite ETF (BUYW). 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.

	WNTR	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	1.47	2.03	-0.56
Sortino ratio: Return per unit of downside risk	1.88	3.08	-1.20
Omega ratio: Gain probability vs. loss probability	1.26	1.40	-0.15
Calmar ratio: Return relative to maximum drawdown	1.74	3.79	-2.04
Martin ratio: Return relative to average drawdown	4.63	20.24	-15.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WNTR vs. BUYW - Sharpe Ratio Comparison

The current WNTR Sharpe Ratio is 1.47, which is comparable to the BUYW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of WNTR and BUYW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WNTR	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	2.03	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	1.17	-0.49

Drawdowns

WNTR vs. BUYW - Drawdown Comparison

The maximum WNTR drawdown since its inception was -42.65%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for WNTR and BUYW.

Drawdown Indicators

	WNTR	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-42.65%	-9.36%	-33.29%
Max Drawdown (1Y) Largest decline over 1 year	-42.65%	-2.59%	-40.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-24.53%	-0.21%	-24.32%
Average Drawdown Average peak-to-trough decline	-20.98%	-0.61%	-20.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.02%	0.48%	+15.54%

Volatility

WNTR vs. BUYW - Volatility Comparison

YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a higher volatility of 13.12% compared to Main Buywrite ETF (BUYW) at 1.02%. This indicates that WNTR's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WNTR	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.12%	1.02%	+12.10%
Volatility (6M) Calculated over the trailing 6-month period	44.34%	4.03%	+40.31%
Volatility (1Y) Calculated over the trailing 1-year period	50.83%	4.85%	+45.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.42%	8.47%	+43.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.42%	8.47%	+43.95%

WNTR vs. BUYW - Expense Ratio Comparison

WNTR has a 1.01% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

WNTR vs. BUYW - Dividend Comparison

WNTR's dividend yield for the trailing twelve months is around 116.75%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
WNTR YieldMax Short MSTR Option Income Strategy ETF	116.75%	58.56%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WNTR and BUYW in my portfolio?

WNTR and BUYW have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WNTR or BUYW?

WNTR has higher volatility (13.12%) compared to BUYW (1.02%). In terms of maximum drawdown, WNTR dropped -42.65% vs BUYW's -9.36%.

Which ETF is better, WNTR or BUYW?

On 1-year performance, WNTR leads with 73.88% vs 9.76% for BUYW. On fees, WNTR is cheaper at 1.01% per year. On volatility, BUYW has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WNTR or BUYW?

Over the 1-year period, WNTR has performed better with a 73.88% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WNTR or BUYW?

WNTR is cheaper with a 1.01% expense ratio, compared with 1.29% for BUYW.

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

WNTR has the higher dividend yield at 116.75%, compared with 5.91% for BUYW.

What is the main difference between WNTR and BUYW?

They also come from different issuers: YieldMax and Main Funds. Their fees differ too: 1.01% for WNTR and 1.29% for BUYW.

Which has better risk-adjusted returns?

BUYW currently has the higher Sharpe Ratio (2.03 vs 1.47), 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.