XSW vs. WNTR
XSW (SPDR S&P Software & Services ETF) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - XSW is a Technology Equities fund tracking the S&P Software & Services Select Industry Index, while WNTR is a Derivative Income fund actively managed by YieldMax. XSW is passively managed, while WNTR is actively managed. Over the past year, XSW returned 0.97% vs 107.38% for WNTR. Their -0.42 correlation means they have often moved in opposite directions in the past. XSW charges 0.35%/yr vs 1.00%/yr for WNTR.
Performance
XSW vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, XSW achieves a -2.35% return, which is significantly lower than WNTR's 10.75% return.
XSW
- 1D
- 0.60%
- 1M
- 3.56%
- 6M
- 9.30%
- YTD
- -2.35%
- 1Y
- 0.97%
- 3Y*
- 8.86%
- 5Y*
- 1.40%
- 10Y*
- 13.43%
- ALL TIME*
- 14.98%
WNTR
- 1D
- 3.26%
- 1M
- 8.13%
- 6M
- 14.92%
- YTD
- 10.75%
- 1Y
- 107.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 47.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.02M | $3.86M | $3.95M | |
| $8.95M | $8.27M | $10.07M |
XSW vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XSW SPDR S&P Software & Services ETF | -2.35% | 10.23% |
WNTR YieldMax MSTR Short Option Income Strategy ETF | 10.75% | 52.78% |
Correlation
The correlation between XSW and WNTR is -0.42, 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. | -0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.42 |
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Return for Risk
XSW vs. WNTR — Risk / Return Rank
XSW
WNTR
XSW vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Software & Services ETF (XSW) 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.
| XSW | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.32 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 2.71 | -2.78 |
| Martin ratioReturn relative to average drawdown | -0.13 | 6.87 | -7.00 |
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Drawdowns
XSW vs. WNTR - Drawdown Comparison
The maximum XSW drawdown since its inception was -45.38%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for XSW and WNTR.
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Drawdown Indicators
| XSW | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.38% | -42.65% | -2.73% |
Max Drawdown (1Y)Largest decline over 1 year | -33.75% | -42.65% | +8.90% |
Max Drawdown (3Y)Largest decline over 3 years | -33.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -45.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.38% | — | — |
Current DrawdownCurrent decline from peak | -10.96% | -9.64% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -9.90% | -20.18% | +10.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.92% | 16.81% | +0.11% |
Volatility
XSW vs. WNTR - Volatility Comparison
The current volatility for SPDR S&P Software & Services ETF (XSW) is 8.03%, while YieldMax MSTR Short Option Income Strategy ETF (WNTR) has a volatility of 14.85%. This indicates that XSW 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
| XSW | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.03% | 14.85% | -6.82% |
Volatility (6M)Calculated over the trailing 6-month period | 24.75% | 47.43% | -22.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.79% | 54.68% | -24.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.15% | 53.42% | -24.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.36% | 53.42% | -27.06% |
XSW vs. WNTR - Expense Ratio Comparison
XSW has a 0.35% expense ratio, which is lower than WNTR's 1.00% expense ratio.
Dividends
XSW vs. WNTR - Dividend Comparison
XSW has not paid dividends to shareholders, while WNTR's dividend yield for the trailing twelve months is around 107.02%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WNTR YieldMax MSTR Short Option Income Strategy ETF | 107.02% | 58.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XSW SPDR S&P Software & Services ETF | 0.00% | 0.06% | 0.07% | 0.20% | 0.09% | 0.13% | 0.26% | 0.12% | 0.31% | 0.46% | 0.87% | 0.54% |
Frequently Asked Questions
XSW and WNTR have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (14.85%) compared to XSW (8.03%). In terms of maximum drawdown, XSW dropped -45.38% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 107.38% vs 0.97% for XSW. On fees, XSW is cheaper at 0.35% per year. On volatility, XSW has been the lower-risk option at 8.03%. 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 107.38% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSW is cheaper with a 0.35% expense ratio, compared with 1.00% for WNTR.
WNTR has the higher dividend yield at 107.02%, compared with 0.00% for XSW.
XSW is categorized as Technology Equities, while WNTR is Derivative Income. They also come from different issuers: State Street and YieldMax. Their fees differ too: 0.35% for XSW and 1.00% for WNTR.
WNTR currently has the higher Sharpe Ratio (2.12 vs -0.08), 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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