XPH vs. WNTR
XPH (SPDR S&P Pharmaceuticals ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - XPH is a Health & Biotech Equities fund tracking the S&P Pharmaceuticals Select Industry Index, while WNTR is a Derivative Income fund actively managed by YieldMax. XPH is passively managed, while WNTR is actively managed. Over the past year, XPH returned 64.62% vs 106.92% for WNTR. Their -0.29 correlation means they have often moved in opposite directions in the past. XPH charges 0.35%/yr vs 1.00%/yr for WNTR.
Performance
XPH vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, XPH achieves a 22.08% return, which is significantly higher than WNTR's 10.51% return.
XPH
- 1D
- 0.25%
- 1M
- 1.59%
- 6M
- 19.87%
- YTD
- 22.08%
- 1Y
- 64.62%
- 3Y*
- 17.93%
- 5Y*
- 7.45%
- 10Y*
- 4.80%
- ALL TIME*
- 9.39%
WNTR
- 1D
- -0.22%
- 1M
- 7.89%
- 6M
- 8.31%
- YTD
- 10.51%
- 1Y
- 106.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 47.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.92M | $3.66M | $3.95M | |
| $7.06M | $7.70M | $5.53M |
XPH vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XPH SPDR S&P Pharmaceuticals ETF | 22.08% | 32.22% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 10.51% | 52.78% |
Correlation
The correlation between XPH and WNTR is -0.27, 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. | -0.27 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.29 |
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Return for Risk
XPH vs. WNTR — Risk / Return Rank
XPH
WNTR
XPH vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Pharmaceuticals ETF (XPH) and YieldMax MSTR Short 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.
| XPH | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.30 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 5.43 | 2.52 | +2.91 |
| Martin ratioReturn relative to average drawdown | 19.31 | 6.38 | +12.93 |
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Drawdowns
XPH vs. WNTR - Drawdown Comparison
The maximum XPH drawdown since its inception was -48.03%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for XPH and WNTR.
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Drawdown Indicators
| XPH | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.03% | -42.65% | -5.38% |
Max Drawdown (1Y)Largest decline over 1 year | -11.97% | -42.65% | +30.68% |
Max Drawdown (3Y)Largest decline over 3 years | -23.57% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.92% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.97% | — | — |
Current DrawdownCurrent decline from peak | -2.60% | -9.84% | +7.24% |
Average DrawdownAverage peak-to-trough decline | -17.12% | -20.15% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 16.83% | -13.47% |
Volatility
XPH vs. WNTR - Volatility Comparison
The current volatility for SPDR S&P Pharmaceuticals ETF (XPH) is 7.62%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 13.00%. This indicates that XPH 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.
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Volatility by Period
| XPH | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.62% | 13.00% | -5.38% |
Volatility (6M)Calculated over the trailing 6-month period | 17.53% | 47.22% | -29.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.59% | 54.66% | -32.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.02% | 53.34% | -32.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.14% | 53.34% | -31.20% |
XPH vs. WNTR - Expense Ratio Comparison
XPH has a 0.35% expense ratio, which is lower than WNTR's 1.00% expense ratio.
Dividends
XPH vs. WNTR - Dividend Comparison
XPH's dividend yield for the trailing twelve months is around 0.49%, less than WNTR's 107.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WNTR YieldMax MSTR Short Option Income Strategy ETF | 107.26% | 58.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XPH SPDR S&P Pharmaceuticals ETF | 0.49% | 0.83% | 1.58% | 1.28% | 1.64% | 0.95% | 0.47% | 0.64% | 0.65% | 0.67% | 0.63% | 7.15% |
Frequently Asked Questions
XPH and WNTR have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (13.00%) compared to XPH (7.62%). In terms of maximum drawdown, XPH dropped -48.03% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 106.92% vs 64.62% for XPH. On fees, XPH is cheaper at 0.35% per year. On volatility, XPH has been the lower-risk option at 7.62%. 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 106.92% return vs 64.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XPH is cheaper with a 0.35% expense ratio, compared with 1.00% for WNTR.
WNTR has the higher dividend yield at 107.26%, compared with 0.49% for XPH.
XPH is categorized as Health & Biotech Equities, while WNTR is Derivative Income. They also come from different issuers: State Street and YieldMax. Their fees differ too: 0.35% for XPH and 1.00% for WNTR.
XPH currently has the higher Sharpe Ratio (2.88 vs 1.97), 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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