WNTR vs. IWC
WNTR (YieldMax MSTR Short Option Income Strategy ETF) and IWC (iShares Micro-Cap ETF) are both exchange-traded funds - WNTR is a Derivative Income fund actively managed by YieldMax, while IWC is a Small Cap Blend Equities fund tracking the Russell Microcap Index. WNTR is actively managed, while IWC is passively managed. Over the past year, WNTR returned 100.15% vs 50.69% for IWC. Their -0.50 correlation means they have often moved in opposite directions in the past. WNTR charges 1.00%/yr vs 0.60%/yr for IWC.
Performance
WNTR vs. IWC - Performance Comparison
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Returns By Period
In the year-to-date period, WNTR achieves a 6.73% return, which is significantly lower than IWC's 25.23% return.
WNTR
- 1D
- -1.10%
- 1M
- 5.18%
- 6M
- -1.23%
- YTD
- 6.73%
- 1Y
- 100.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 43.34%
IWC
- 1D
- -0.58%
- 1M
- -1.00%
- 6M
- 18.27%
- YTD
- 25.23%
- 1Y
- 50.69%
- 3Y*
- 21.78%
- 5Y*
- 7.38%
- 10Y*
- 11.37%
- ALL TIME*
- 7.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.18M | $12.46M | $17.95M | |
| $4.24M | $3.75M | $3.99M |
WNTR vs. IWC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
WNTR YieldMax MSTR Short Option Income Strategy ETF | 6.73% | 52.78% |
IWC iShares Micro-Cap ETF | 25.23% | 38.19% |
Correlation
The correlation between WNTR and IWC is -0.51, 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. | -0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.50 |
The correlation between WNTR and IWC has been stable across timeframes, ranging from -0.51 to -0.50 - a consistent structural relationship.
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Return for Risk
WNTR vs. IWC — Risk / Return Rank
WNTR
IWC
WNTR vs. IWC - 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 Micro-Cap ETF (IWC). 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 | IWC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.33 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 4.10 | -1.74 |
| Martin ratioReturn relative to average drawdown | 5.96 | 12.99 | -7.02 |
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Drawdowns
WNTR vs. IWC - Drawdown Comparison
The maximum WNTR drawdown since its inception was -42.65%, smaller than the maximum IWC drawdown of -64.61%. Use the drawdown chart below to compare losses from any high point for WNTR and IWC.
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Drawdown Indicators
| WNTR | IWC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.65% | -64.61% | +21.96% |
Max Drawdown (1Y)Largest decline over 1 year | -42.65% | -12.43% | -30.22% |
Max Drawdown (3Y)Largest decline over 3 years | — | -29.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.21% | — |
Current DrawdownCurrent decline from peak | -12.93% | -1.81% | -11.12% |
Average DrawdownAverage peak-to-trough decline | -20.10% | -15.17% | -4.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.86% | 3.91% | +12.95% |
Volatility
WNTR vs. IWC - Volatility Comparison
YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a higher volatility of 12.79% compared to iShares Micro-Cap ETF (IWC) at 5.90%. This indicates that WNTR's price experiences larger fluctuations and is considered to be riskier than IWC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WNTR | IWC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.79% | 5.90% | +6.89% |
Volatility (6M)Calculated over the trailing 6-month period | 46.85% | 18.39% | +28.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.57% | 24.14% | +30.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.24% | 24.50% | +28.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.24% | 24.51% | +28.73% |
WNTR vs. IWC - Expense Ratio Comparison
WNTR has a 1.00% expense ratio, which is higher than IWC's 0.60% expense ratio.
Dividends
WNTR vs. IWC - Dividend Comparison
WNTR's dividend yield for the trailing twelve months is around 111.06%, more than IWC's 0.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWC iShares Micro-Cap ETF | 0.96% | 1.10% | 1.06% | 1.17% | 1.18% | 0.78% | 0.98% | 1.19% | 1.01% | 1.09% | 1.16% | 1.49% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 111.06% | 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
WNTR and IWC have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (12.79%) compared to IWC (5.90%). In terms of maximum drawdown, WNTR dropped -42.65% vs IWC's -64.61%.
On 1-year performance, WNTR leads with 100.15% vs 50.69% for IWC. On fees, IWC is cheaper at 0.60% per year. On volatility, IWC has been the lower-risk option at 5.90%. 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 100.15% return vs 50.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWC is cheaper with a 0.60% expense ratio, compared with 1.00% for WNTR.
WNTR has the higher dividend yield at 111.06%, compared with 0.96% for IWC.
WNTR is categorized as Derivative Income, while IWC is Small Cap Blend Equities. They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.00% for WNTR and 0.60% for IWC.
IWC currently has the higher Sharpe Ratio (2.11 vs 1.85), 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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