XLF vs. WNTR

Last updated Jul 17, 2026

XLF (State Street Financial Select Sector SPDR ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - XLF is a Financials Equities fund tracking the Financial Select Sector Index, while WNTR is a Derivative Income fund actively managed by YieldMax. XLF is passively managed, while WNTR is actively managed. Over the past year, XLF returned 10.81% vs 127.90% for WNTR. At a correlation of -0.26, they often move in opposite directions. XLF charges 0.08%/yr vs 1.01%/yr for WNTR.

Performance

XLF vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Financial Select Sector SPDR ETF (XLF) 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, XLF achieves a 4.51% return, which is significantly lower than WNTR's 9.49% return.

XLF

• 1D: 0.34%
• 1M: 4.78%
• 6M: 5.28%
• YTD: 4.51%
• 1Y: 10.81%
• 3Y*: 19.83%
• 5Y*: 11.37%
• 10Y*: 13.55%

WNTR

• 1D: 2.96%
• 1M: 17.94%
• 6M: 21.62%
• YTD: 9.49%
• 1Y: 127.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XLF vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
XLF State Street Financial Select Sector SPDR ETF	4.51%	10.05%
WNTR YieldMax Short MSTR Option Income Strategy ETF	9.49%	52.78%

Correlation

The correlation between XLF and WNTR is -0.21, 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	-0.21
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.26

Return for Risk

XLF vs. WNTR — Risk / Return Rank

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

XLF

XLF Risk / Return Rank: 22
XLF Sharpe Ratio Rank: 25
XLF Sortino Ratio Rank: 23
XLF Omega Ratio Rank: 23
XLF Calmar Ratio Rank: 20
XLF Martin Ratio Rank: 20

WNTR

WNTR Risk / Return Rank: 73
WNTR Sharpe Ratio Rank: 90
WNTR Sortino Ratio Rank: 71
WNTR Omega Ratio Rank: 75
WNTR Calmar Ratio Rank: 74
WNTR Martin Ratio Rank: 56

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.

XLF vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Financial Select Sector SPDR ETF (XLF) 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.

	XLF	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	0.74	2.39	-1.65
Sortino ratio: Return per unit of downside risk	1.09	2.56	-1.47
Omega ratio: Gain probability vs. loss probability	1.14	1.35	-0.21
Calmar ratio: Return relative to maximum drawdown	0.73	3.02	-2.28
Martin ratio: Return relative to average drawdown	1.86	7.72	-5.86

XLF vs. WNTR - Sharpe Ratio Comparison

The current XLF Sharpe Ratio is 0.74, which is lower than the WNTR Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of XLF 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

XLF vs. WNTR - Drawdown Comparison

The maximum XLF drawdown since its inception was -82.69%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for XLF and WNTR.

Drawdown Indicators

	XLF	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-82.69%	-42.65%	-40.04%
Max Drawdown (1Y) Largest decline over 1 year	-14.79%	-42.65%	+27.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.86%	—	—
Current Drawdown Current decline from peak	0.00%	-10.67%	+10.67%
Average Drawdown Average peak-to-trough decline	-19.95%	-20.46%	+0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.81%	16.63%	-10.82%

Volatility

XLF vs. WNTR - Volatility Comparison

The current volatility for State Street Financial Select Sector SPDR ETF (XLF) is 4.13%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.89%. This indicates that XLF 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

	XLF	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	17.89%	-13.76%
Volatility (6M) Calculated over the trailing 6-month period	11.24%	47.05%	-35.81%
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	53.81%	-39.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.52%	53.49%	-34.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.06%	53.49%	-31.43%

XLF vs. WNTR - Expense Ratio Comparison

XLF has a 0.08% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

XLF vs. WNTR - Dividend Comparison

XLF's dividend yield for the trailing twelve months is around 1.42%, less than WNTR's 106.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.86%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLF State Street Financial Select Sector SPDR ETF	1.42%	1.31%	1.42%	1.71%	2.04%	1.63%	2.03%	1.87%	2.08%	1.48%	21.10%	1.95%

Frequently Asked Questions

Can I hold both XLF and WNTR in my portfolio?

XLF and WNTR have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLF or WNTR?

WNTR has higher volatility (17.89%) compared to XLF (4.13%). In terms of maximum drawdown, XLF dropped -82.69% vs WNTR's -42.65%.

Which ETF is better, XLF or WNTR?

On 1-year performance, WNTR leads with 127.90% vs 10.81% for XLF. On fees, XLF is cheaper at 0.08% per year. On volatility, XLF has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLF or WNTR?

Over the 1-year period, WNTR has performed better with a 127.90% return vs 10.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLF or WNTR?

XLF is cheaper with a 0.08% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 106.86%, compared with 1.42% for XLF.

What is the main difference between XLF and WNTR?

XLF is categorized as Financials Equities, while WNTR is Derivative Income. They also come from different issuers: State Street and YieldMax. Their fees differ too: 0.08% for XLF and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.39 vs 0.74), 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.