WNTR vs. IBIT
WNTR (YieldMax Short MSTR 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 73.88% vs -38.74% for IBIT. At a correlation of -0.82, they often move in opposite directions. WNTR charges 1.01%/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 -7.49% return, which is significantly higher than IBIT's -25.48% return.
WNTR
- 1D
- 4.50%
- 1M
- 25.47%
- YTD
- -7.49%
- 6M
- 10.48%
- 1Y
- 73.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WNTR vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
WNTR YieldMax Short MSTR Option Income Strategy ETF | -7.49% | 54.43% |
IBIT iShares Bitcoin Trust ETF | -25.48% | 0.42% |
Correlation
The correlation between WNTR and IBIT is -0.82, 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 | -0.82 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025 | -0.82 |
The correlation between WNTR and IBIT has been stable across timeframes, ranging from -0.82 to -0.82 - 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 Short MSTR 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.
| WNTR | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.36 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.86 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | -0.79 | +2.53 |
| Martin ratioReturn relative to average drawdown | 4.63 | -1.36 | +5.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WNTR | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | -0.89 | +2.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.30 | +0.38 |
Drawdowns
WNTR vs. IBIT - Drawdown Comparison
The maximum WNTR drawdown since its inception was -42.65%, smaller than the maximum IBIT drawdown of -49.36%. 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% | -49.36% | +6.71% |
Max Drawdown (1Y)Largest decline over 1 year | -42.65% | -49.36% | +6.71% |
Current DrawdownCurrent decline from peak | -24.53% | -48.10% | +23.57% |
Average DrawdownAverage peak-to-trough decline | -20.98% | -16.02% | -4.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.02% | 28.44% | -12.42% |
Volatility
WNTR vs. IBIT - Volatility Comparison
YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a higher volatility of 13.12% compared to iShares Bitcoin Trust ETF (IBIT) at 9.50%. 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 | 13.12% | 9.50% | +3.62% |
Volatility (6M)Calculated over the trailing 6-month period | 44.34% | 34.44% | +9.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.83% | 43.73% | +7.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.42% | 50.19% | +2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.42% | 50.19% | +2.23% |
WNTR vs. IBIT - Expense Ratio Comparison
WNTR has a 1.01% 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 116.75%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% |
WNTR YieldMax Short MSTR Option Income Strategy ETF | 116.75% | 58.56% |
Frequently Asked Questions
WNTR and IBIT have a correlation of -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (13.12%) compared to IBIT (9.50%). In terms of maximum drawdown, WNTR dropped -42.65% vs IBIT's -49.36%.
On 1-year performance, WNTR leads with 73.88% vs -38.74% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 9.50%. 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 73.88% return vs -38.74%. 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 1.01% for WNTR.
WNTR has the higher dividend yield at 116.75%, 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: 1.01% for WNTR and 0.25% for IBIT.
WNTR currently has the higher Sharpe Ratio (1.47 vs -0.89), 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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