WNTR vs. IBIT
WNTR (YieldMax MSTR Short Option Income Strategy ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - WNTR is a Derivative Income fund actively managed by YieldMax, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. WNTR is actively managed, while IBIT is passively managed. Over the past year, WNTR returned 106.98% vs -44.19% for IBIT. Their -0.80 correlation means they have often moved in opposite directions in the past. WNTR charges 1.00%/yr vs 0.25%/yr for IBIT.
Performance
WNTR vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, WNTR achieves a 7.92% return, which is significantly higher than IBIT's -26.71% return.
WNTR
- 1D
- -2.34%
- 1M
- 5.36%
- 6M
- 2.42%
- YTD
- 7.92%
- 1Y
- 106.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 44.62%
IBIT
- 1D
- 0.64%
- 1M
- 4.36%
- 6M
- -15.96%
- YTD
- -26.71%
- 1Y
- -44.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.29B | $1.33B | $1.64B | |
| $3.95M | $3.66M | $3.95M |
WNTR vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
WNTR YieldMax MSTR Short Option Income Strategy ETF | 7.92% | 52.78% |
IBIT iShares Bitcoin Trust ETF | -26.71% | 0.96% |
Correlation
The correlation between WNTR and IBIT is -0.81, 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. | -0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.80 |
The correlation between WNTR and IBIT has been stable across timeframes, ranging from -0.81 to -0.80 - a consistent structural relationship.
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Return for Risk
WNTR vs. IBIT — Risk / Return Rank
WNTR
IBIT
WNTR vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MSTR Short Option Income Strategy ETF (WNTR) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.97 | ||
| Sortino ratioReturn per unit of downside risk | +3.74 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.84 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | -0.83 | +3.35 |
| Martin ratioReturn relative to average drawdown | 6.38 | -1.27 | +7.64 |
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Drawdowns
WNTR vs. IBIT - Drawdown Comparison
The maximum WNTR drawdown since its inception was -42.65%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for WNTR and IBIT.
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Drawdown Indicators
| WNTR | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.65% | -53.30% | +10.65% |
Max Drawdown (1Y)Largest decline over 1 year | -42.65% | -53.30% | +10.65% |
Current DrawdownCurrent decline from peak | -11.95% | -48.95% | +37.00% |
Average DrawdownAverage peak-to-trough decline | -20.12% | -18.34% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.84% | 34.94% | -18.10% |
Volatility
WNTR vs. IBIT - Volatility Comparison
YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a higher volatility of 13.23% compared to iShares Bitcoin Trust ETF (IBIT) at 8.29%. This indicates that WNTR's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WNTR | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.23% | 8.29% | +4.94% |
Volatility (6M)Calculated over the trailing 6-month period | 46.95% | 33.07% | +13.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.62% | 44.40% | +10.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.31% | 49.53% | +3.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.31% | 49.53% | +3.78% |
WNTR vs. IBIT - Expense Ratio Comparison
WNTR has a 1.00% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
WNTR vs. IBIT - Dividend Comparison
WNTR's dividend yield for the trailing twelve months is around 109.83%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 109.83% | 58.56% |
Frequently Asked Questions
WNTR and IBIT have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (13.23%) compared to IBIT (8.29%). In terms of maximum drawdown, WNTR dropped -42.65% vs IBIT's -53.30%.
On 1-year performance, WNTR leads with 106.98% vs -44.19% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 8.29%. 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 106.98% return vs -44.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 1.00% for WNTR.
WNTR has the higher dividend yield at 109.83%, compared with 0.00% for IBIT.
WNTR is categorized as Derivative Income, while IBIT is Cryptocurrency. They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.00% for WNTR and 0.25% for IBIT.
WNTR currently has the higher Sharpe Ratio (1.97 vs -1.00), 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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