waste of effort vs wastefulness

waste of effort and wastefulness both are nouns.

Word	Noun	Adjective	Verb	Adverb
waste of effort	Yes	No	No	No
wastefulness	Yes	No	No	No

As nouns, wastefulness is a hypernym of waste of effort; that is, wastefulness is a word with a broader meaning than waste of effort:

waste of effort: a useless effort
wastefulness: useless or profitless activity; using or expending or consuming thoughtlessly or carelessly

Other hypernyms of waste of effort include dissipation, waste.

waste of effort (noun)	wastefulness (noun)
a useless effort	useless or profitless activity; using or expending or consuming thoughtlessly or carelessly
	the trait of wasting resources