WNTR vs. MSTW

Last updated Jun 4, 2026

WNTR (YieldMax Short MSTR Option Income Strategy ETF) and MSTW (Roundhill MSTR WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.97, they often move in opposite directions. WNTR charges 1.01%/yr vs 0.99%/yr for MSTW.

Performance

WNTR vs. MSTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short MSTR Option Income Strategy ETF (WNTR) and Roundhill MSTR WeeklyPay ETF (MSTW). 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 higher than MSTW's -23.56% return.

WNTR

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

MSTW

• 1D: -8.54%
• 1M: -36.78%
• YTD: -23.56%
• 6M: -41.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WNTR vs. MSTW - Yearly Performance Comparison

	2026 (YTD)	2025
WNTR YieldMax Short MSTR Option Income Strategy ETF	-7.49%	100.09%
MSTW Roundhill MSTR WeeklyPay ETF	-23.56%	-71.42%

Correlation

The correlation between WNTR and MSTW is -0.97, 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 (All Time) Calculated using the full available price history since Jul 25, 2025	-0.97

Return for Risk

WNTR vs. MSTW — 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

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. MSTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short MSTR Option Income Strategy ETF (WNTR) and Roundhill MSTR WeeklyPay ETF (MSTW). 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	MSTW	Difference
Sharpe ratio: Return per unit of total volatility	1.47	—	—
Sortino ratio: Return per unit of downside risk	1.88	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	1.74	—	—
Martin ratio: Return relative to average drawdown	4.63	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	WNTR	MSTW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	-0.94	+1.61

Drawdowns

WNTR vs. MSTW - Drawdown Comparison

The maximum WNTR drawdown since its inception was -42.65%, smaller than the maximum MSTW drawdown of -81.85%. Use the drawdown chart below to compare losses from any high point for WNTR and MSTW.

Drawdown Indicators

	WNTR	MSTW	Difference
Max Drawdown Largest peak-to-trough decline	-42.65%	-81.85%	+39.20%
Max Drawdown (1Y) Largest decline over 1 year	-42.65%	—	—
Current Drawdown Current decline from peak	-24.53%	-78.15%	+53.62%
Average Drawdown Average peak-to-trough decline	-20.98%	-54.49%	+33.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.02%	—	—

Volatility

Volatility by Period

	WNTR	MSTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	44.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	50.83%	89.01%	-38.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.42%	89.01%	-36.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.42%	89.01%	-36.59%

WNTR vs. MSTW - Expense Ratio Comparison

WNTR has a 1.01% expense ratio, which is higher than MSTW's 0.99% expense ratio.

Dividends

WNTR vs. MSTW - Dividend Comparison

WNTR's dividend yield for the trailing twelve months is around 116.75%, less than MSTW's 239.64% yield.

Position	TTM	2025
MSTW Roundhill MSTR WeeklyPay ETF	239.64%	106.94%
WNTR YieldMax Short MSTR Option Income Strategy ETF	116.75%	58.56%

Frequently Asked Questions

Can I hold both WNTR and MSTW in my portfolio?

WNTR and MSTW have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WNTR or MSTW?

On fees, MSTW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WNTR or MSTW?

MSTW is cheaper with a 0.99% expense ratio, compared with 1.01% for WNTR.

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

MSTW has the higher dividend yield at 239.64%, compared with 116.75% for WNTR.

What is the main difference between WNTR and MSTW?

They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 1.01% for WNTR and 0.99% for MSTW.