WNTR vs. FTQI

Last updated Jul 16, 2026

WNTR (YieldMax Short MSTR Option Income Strategy ETF) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both exchange-traded funds - WNTR is a Derivative Income fund actively managed by YieldMax, while FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index. WNTR is actively managed, while FTQI is passively managed. Over the past year, WNTR returned 117.98% vs 27.70% for FTQI. At a correlation of -0.48, they often move in opposite directions. WNTR charges 1.01%/yr vs 0.75%/yr for FTQI.

Performance

WNTR vs. FTQI - Performance Comparison

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

Returns By Period

In the year-to-date period, WNTR achieves a 6.35% return, which is significantly lower than FTQI's 13.57% return.

WNTR

• 1D: 0.37%
• 1M: 20.43%
• 6M: 21.18%
• YTD: 6.35%
• 1Y: 117.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTQI

• 1D: 0.09%
• 1M: 1.97%
• 6M: 12.76%
• YTD: 13.57%
• 1Y: 27.70%
• 3Y*: 16.98%
• 5Y*: 12.43%
• 10Y*: 7.68%

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

WNTR vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025
WNTR YieldMax Short MSTR Option Income Strategy ETF	6.35%	52.78%
FTQI First Trust Nasdaq BuyWrite Income ETF	13.57%	18.71%

Correlation

The correlation between WNTR and FTQI is -0.47, 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	-0.47
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.48

Return for Risk

WNTR vs. FTQI — Risk / Return Rank

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

WNTR

WNTR Risk / Return Rank: 69
WNTR Sharpe Ratio Rank: 86
WNTR Sortino Ratio Rank: 66
WNTR Omega Ratio Rank: 70
WNTR Calmar Ratio Rank: 69
WNTR Martin Ratio Rank: 51

FTQI

FTQI Risk / Return Rank: 92
FTQI Sharpe Ratio Rank: 92
FTQI Sortino Ratio Rank: 92
FTQI Omega Ratio Rank: 91
FTQI Calmar Ratio Rank: 91
FTQI Martin Ratio Rank: 94

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. FTQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short MSTR Option Income Strategy ETF (WNTR) and First Trust Nasdaq BuyWrite Income ETF (FTQI). 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.

	WNTR	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.57	-0.36
Sortino ratio: Return per unit of downside risk	2.44	3.54	-1.10
Omega ratio: Gain probability vs. loss probability	1.33	1.48	-0.15
Calmar ratio: Return relative to maximum drawdown	2.78	4.46	-1.68
Martin ratio: Return relative to average drawdown	7.13	21.13	-14.01

WNTR vs. FTQI - Sharpe Ratio Comparison

The current WNTR Sharpe Ratio is 2.21, which is comparable to the FTQI Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of WNTR and FTQI, 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

WNTR vs. FTQI - Drawdown Comparison

The maximum WNTR drawdown since its inception was -42.65%, which is greater than FTQI's maximum drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for WNTR and FTQI.

Drawdown Indicators

	WNTR	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-42.65%	-19.42%	-23.23%
Max Drawdown (1Y) Largest decline over 1 year	-42.65%	-6.24%	-36.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	-13.23%	-0.13%	-13.10%
Average Drawdown Average peak-to-trough decline	-20.49%	-3.73%	-16.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.62%	1.31%	+15.31%

Volatility

WNTR vs. FTQI - Volatility Comparison

YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a higher volatility of 18.90% compared to First Trust Nasdaq BuyWrite Income ETF (FTQI) at 2.86%. This indicates that WNTR's price experiences larger fluctuations and is considered to be riskier than FTQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WNTR	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.90%	2.86%	+16.04%
Volatility (6M) Calculated over the trailing 6-month period	47.35%	8.79%	+38.56%
Volatility (1Y) Calculated over the trailing 1-year period	53.75%	10.84%	+42.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.51%	14.82%	+38.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.51%	12.98%	+40.53%

WNTR vs. FTQI - Expense Ratio Comparison

WNTR has a 1.01% expense ratio, which is higher than FTQI's 0.75% expense ratio.

Dividends

WNTR vs. FTQI - Dividend Comparison

WNTR's dividend yield for the trailing twelve months is around 105.78%, more than FTQI's 10.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTQI First Trust Nasdaq BuyWrite Income ETF	10.84%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%
WNTR YieldMax Short MSTR Option Income Strategy ETF	105.78%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WNTR and FTQI in my portfolio?

WNTR and FTQI have a correlation of -0.47, 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 FTQI?

WNTR has higher volatility (18.90%) compared to FTQI (2.86%). In terms of maximum drawdown, WNTR dropped -42.65% vs FTQI's -19.42%.

Which ETF is better, WNTR or FTQI?

On 1-year performance, WNTR leads with 117.98% vs 27.70% for FTQI. On fees, FTQI is cheaper at 0.75% per year. On volatility, FTQI has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WNTR or FTQI?

Over the 1-year period, WNTR has performed better with a 117.98% return vs 27.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WNTR or FTQI?

FTQI is cheaper with a 0.75% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 105.78%, compared with 10.84% for FTQI.

What is the main difference between WNTR and FTQI?

WNTR is categorized as Derivative Income, while FTQI is Nasdaq-100. They also come from different issuers: YieldMax and First Trust. Their fees differ too: 1.01% for WNTR and 0.75% for FTQI.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.57 vs 2.21), 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.