yacht vs watercraft

yacht and watercraft both are nouns.

Word	Noun	Adjective	Verb	Adverb
yacht	Yes	No	Yes	No
watercraft	Yes	No	No	No

As nouns, watercraft is a hypernym of yacht; that is, watercraft is a word with a broader meaning than yacht:

yacht: an expensive vessel propelled by sail or power and used for cruising or racing
watercraft: a craft designed for water transportation

Other hypernyms of yacht include vessel.

yacht (noun)	watercraft (noun)
an expensive vessel propelled by sail or power and used for cruising or racing	a craft designed for water transportation
	skill in the management of boats

yacht (verb)	watercraft (verb)
travel in a yacht