XCEM vs. WNTR

Last updated Jul 12, 2026

XCEM (Columbia EM Core ex-China ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - XCEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while WNTR is a Derivative Income fund actively managed by YieldMax. XCEM is passively managed, while WNTR is actively managed. Over the past year, XCEM returned 53.98% vs 116.49% for WNTR. At a correlation of -0.37, they often move in opposite directions. XCEM charges 0.16%/yr vs 1.01%/yr for WNTR.

Performance

XCEM vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia EM Core ex-China ETF (XCEM) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCEM achieves a 32.72% return, which is significantly higher than WNTR's 8.06% return.

XCEM

• 1D: 0.61%
• 1M: -1.57%
• 6M: 27.34%
• YTD: 32.72%
• 1Y: 53.98%
• 3Y*: 24.03%
• 5Y*: 11.67%
• 10Y*: 11.61%

WNTR

• 1D: -0.43%
• 1M: 15.85%
• 6M: 10.45%
• YTD: 8.06%
• 1Y: 116.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XCEM vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
XCEM Columbia EM Core ex-China ETF	32.72%	31.78%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.06%	52.78%

Correlation

The correlation between XCEM and WNTR is -0.38, 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	-0.38
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.37

Return for Risk

XCEM vs. WNTR — Risk / Return Rank

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

XCEM

XCEM Risk / Return Rank: 82
XCEM Sharpe Ratio Rank: 84
XCEM Sortino Ratio Rank: 75
XCEM Omega Ratio Rank: 84
XCEM Calmar Ratio Rank: 84
XCEM Martin Ratio Rank: 84

WNTR

WNTR Risk / Return Rank: 65
WNTR Sharpe Ratio Rank: 81
WNTR Sortino Ratio Rank: 63
WNTR Omega Ratio Rank: 67
WNTR Calmar Ratio Rank: 65
WNTR Martin Ratio Rank: 49

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.

XCEM vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia EM Core ex-China ETF (XCEM) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). 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.

	XCEM	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.06	+0.09
Sortino ratio: Return per unit of downside risk	2.70	2.34	+0.36
Omega ratio: Gain probability vs. loss probability	1.40	1.32	+0.08
Calmar ratio: Return relative to maximum drawdown	3.70	2.60	+1.10
Martin ratio: Return relative to average drawdown	13.26	6.69	+6.57

XCEM vs. WNTR - Sharpe Ratio Comparison

The current XCEM Sharpe Ratio is 2.15, which is comparable to the WNTR Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of XCEM and WNTR, 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

XCEM vs. WNTR - Drawdown Comparison

The maximum XCEM drawdown since its inception was -41.24%, roughly equal to the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for XCEM and WNTR.

Drawdown Indicators

	XCEM	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-41.24%	-42.65%	+1.41%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-42.65%	+28.19%
Max Drawdown (3Y) Largest decline over 3 years	-18.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.57%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.24%	—	—
Current Drawdown Current decline from peak	-7.37%	-11.84%	+4.47%
Average Drawdown Average peak-to-trough decline	-8.56%	-20.57%	+12.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.03%	16.58%	-12.55%

Volatility

XCEM vs. WNTR - Volatility Comparison

The current volatility for Columbia EM Core ex-China ETF (XCEM) is 12.29%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 18.80%. This indicates that XCEM experiences smaller price fluctuations and is considered to be less risky than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCEM	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.29%	18.80%	-6.51%
Volatility (6M) Calculated over the trailing 6-month period	23.26%	47.57%	-24.31%
Volatility (1Y) Calculated over the trailing 1-year period	24.88%	53.81%	-28.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	53.62%	-34.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.92%	53.62%	-33.70%

XCEM vs. WNTR - Expense Ratio Comparison

XCEM has a 0.16% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

XCEM vs. WNTR - Dividend Comparison

XCEM's dividend yield for the trailing twelve months is around 2.45%, less than WNTR's 104.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WNTR YieldMax Short MSTR Option Income Strategy ETF	104.11%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XCEM Columbia EM Core ex-China ETF	2.45%	3.25%	2.76%	1.22%	2.42%	1.94%	1.63%	2.11%	2.70%	9.56%	1.24%	2.63%

Frequently Asked Questions

Can I hold both XCEM and WNTR in my portfolio?

XCEM and WNTR have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XCEM or WNTR?

WNTR has higher volatility (18.80%) compared to XCEM (12.29%). In terms of maximum drawdown, XCEM dropped -41.24% vs WNTR's -42.65%.

Which ETF is better, XCEM or WNTR?

On 1-year performance, WNTR leads with 116.49% vs 53.98% for XCEM. On fees, XCEM is cheaper at 0.16% per year. On volatility, XCEM has been the lower-risk option at 12.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XCEM or WNTR?

Over the 1-year period, WNTR has performed better with a 116.49% return vs 53.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XCEM or WNTR?

XCEM is cheaper with a 0.16% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 104.11%, compared with 2.45% for XCEM.

What is the main difference between XCEM and WNTR?

XCEM is categorized as Emerging Markets Equities, while WNTR is Derivative Income. They also come from different issuers: Ameriprise Financial and YieldMax. Their fees differ too: 0.16% for XCEM and 1.01% for WNTR.

Which has better risk-adjusted returns?

XCEM currently has the higher Sharpe Ratio (2.15 vs 2.06), 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.