What's the difference between MATIC and WMATIC?

I'm curious to understand the fundamental difference between MATIC and WMATIC. Can you clarify what sets these two apart? I've heard they're somehow related to the Polygon blockchain, but I'm not entirely sure how. Is there a specific purpose or advantage to using one over the other? Additionally, I'd like to know if there are any risks associated with owning or trading these tokens, and if so, how can I mitigate them? Clarifying these points would greatly enhance my understanding of the distinction between MATIC and WMATIC.