WTPI vs. PUTW

Last updated Jun 23, 2026

WTPI (WisdomTree Equity Premium Income Fund) and PUTW (WisdomTree Equity Premium Income Fund) are both Derivative Income funds from WisdomTree tracking the Volos U.S. Large Cap Target 2.5% PutWrite Index. Both are passively managed. Over the past 10 years, WTPI returned 8.33%/yr vs 8.33%/yr for PUTW. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.44% expense ratio.

Performance

WTPI vs. PUTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Equity Premium Income Fund (WTPI) and WisdomTree Equity Premium Income Fund (PUTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with WTPI at 4.36% and PUTW at 4.36%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: WTPI at 8.33% and PUTW at 8.33%.

WTPI

• 1D: -0.18%
• 1M: 0.45%
• YTD: 4.36%
• 6M: 3.64%
• 1Y: 18.38%
• 3Y*: 13.18%
• 5Y*: 9.62%
• 10Y*: 8.33%

PUTW

• 1D: -0.18%
• 1M: 0.45%
• YTD: 4.36%
• 6M: 3.64%
• 1Y: 18.38%
• 3Y*: 13.18%
• 5Y*: 9.62%
• 10Y*: 8.33%

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

WTPI vs. PUTW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WTPI WisdomTree Equity Premium Income Fund	4.36%	14.45%	17.18%	15.53%	-10.11%	20.94%	1.65%	13.55%	-7.16%	10.09%
PUTW WisdomTree Equity Premium Income Fund	4.36%	14.45%	17.18%	15.53%	-10.11%	20.94%	1.65%	13.55%	-7.16%	10.09%

Correlation

The correlation between WTPI and PUTW is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016	1.00

The correlation between WTPI and PUTW has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

WTPI vs. PUTW — Risk / Return Rank

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

WTPI

WTPI Risk / Return Rank: 63
WTPI Sharpe Ratio Rank: 62
WTPI Sortino Ratio Rank: 62
WTPI Omega Ratio Rank: 70
WTPI Calmar Ratio Rank: 54
WTPI Martin Ratio Rank: 68

PUTW

PUTW Risk / Return Rank: 57
PUTW Sharpe Ratio Rank: 54
PUTW Sortino Ratio Rank: 52
PUTW Omega Ratio Rank: 61
PUTW Calmar Ratio Rank: 50
PUTW Martin Ratio Rank: 67

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.

WTPI vs. PUTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Equity Premium Income Fund (WTPI) and WisdomTree Equity Premium Income Fund (PUTW). 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.

	WTPI	PUTW	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.00	0.00
Sortino ratio: Return per unit of downside risk	2.79	2.79	0.00
Omega ratio: Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	2.58	2.58	0.00
Martin ratio: Return relative to average drawdown	12.19	12.19	0.00

WTPI vs. PUTW - Sharpe Ratio Comparison

The current WTPI Sharpe Ratio is 2.00, which is comparable to the PUTW Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of WTPI and PUTW, 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

WTPI vs. PUTW - Drawdown Comparison

The maximum WTPI drawdown since its inception was -28.40%, roughly equal to the maximum PUTW drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for WTPI and PUTW.

Drawdown Indicators

	WTPI	PUTW	Difference
Max Drawdown Largest peak-to-trough decline	-28.40%	-28.40%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-7.15%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-15.26%	-15.26%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-16.56%	-16.56%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-28.40%	-28.40%	0.00%
Current Drawdown Current decline from peak	-0.39%	-0.39%	0.00%
Average Drawdown Average peak-to-trough decline	-3.43%	-3.43%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	1.51%	0.00%

Volatility

WTPI vs. PUTW - Volatility Comparison

WisdomTree Equity Premium Income Fund (WTPI) and WisdomTree Equity Premium Income Fund (PUTW) have volatilities of 3.19% and 3.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTPI	PUTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	3.19%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	7.55%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	9.27%	9.27%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.21%	12.21%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.26%	13.26%	0.00%

WTPI vs. PUTW - Expense Ratio Comparison

Both WTPI and PUTW have an expense ratio of 0.44%.

Dividends

WTPI vs. PUTW - Dividend Comparison

WTPI's dividend yield for the trailing twelve months is around 12.05%, which matches PUTW's 12.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PUTW WisdomTree Equity Premium Income Fund	12.05%	13.18%	11.99%	8.94%	3.27%	0.00%	1.43%	1.47%	6.46%	3.52%	2.27%
WTPI WisdomTree Equity Premium Income Fund	12.05%	13.18%	11.99%	8.94%	3.27%	0.00%	1.43%	1.47%	6.46%	3.52%	2.27%

Frequently Asked Questions

Can I hold both WTPI and PUTW in my portfolio?

With a correlation of 1.00, WTPI and PUTW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, WTPI or PUTW?

PUTW has higher volatility (3.19%) compared to WTPI (3.19%). In terms of maximum drawdown, WTPI dropped -28.40% vs PUTW's -28.40%.

Which has better risk-adjusted returns?

PUTW currently has the higher Sharpe Ratio (2.00 vs 2.00), 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.