Peerless Option Income Wheel ETF (WEEL) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with WEEL. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to WEEL
WEEL charges 0.99% annually. There are 153 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parametric Equity Plus ETF | 0.10% | 29.05M | Nov 2024 | WEEL vs PEPS | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 329.53M | Mar 2024 | WEEL vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 46.39M | Sep 2024 | WEEL vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | WEEL vs FYEE | |
| Global X Treasury Bond Enhanced Income ETF | 0.29% | — | Jul 2025 | WEEL vs TLTX |
Best Risk-Adjusted Alternatives to WEEL
WEEL has a PortfoliosLab risk / return rank of 84. There are 27 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| SoFi Enhanced Yield ETF | 96 | 34.73M | Nov 2023 | WEEL vs THTA | |
| Simplify Treasury Option Income ETF | 95 | 489.70M | Oct 2022 | WEEL vs BUCK | |
| Global X S&P 500 Covered Call ETF | 93 | 3.24B | Jun 2013 | WEEL vs XYLD | |
| Invesco S&P 500 BuyWrite ETF | 92 | 358.08M | Dec 2007 | WEEL vs PBP | |
| Global X Russell 2000 Covered Call ETF | 90 | 1.37B | Apr 2019 | WEEL vs RYLD |
Top Performing WEEL Alternatives (YTD)
WEEL is at 6.19% YTD. There are 128 ETFs in the Derivative Income category with higher YTD returns, going as high as 146.74%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill AMD WeeklyPay ETF | 146.74% | 114.09M | Jul 2025 | WEEL vs AMDW | |
| Roundhill ARM WeeklyPay ETF | 134.95% | 22.04M | Oct 2025 | WEEL vs ARMW | |
| YieldMax AMD Option Income Strategy ETF | 87.43% | 382.78M | Sep 2023 | WEEL vs AMDY | |
| YieldMax MRNA Option Income Strategy ETF | 60.69% | 106.87M | Oct 2023 | WEEL vs MRNY | |
| YieldMax Target 12™ Semiconductor Option Income ET... | 58.34% | 64.01M | Dec 2024 | WEEL vs SOXY |
Lowest Volatility Alternatives to WEEL
WEEL has 8.59% 1-year volatility. There are 27 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.59%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.59% | 489.70M | Oct 2022 | WEEL vs BUCK | |
| iShares High Yield Corporate Bond Buywrite Strateg... | 2.92% | 112.06M | Aug 2022 | WEEL vs HYGW | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.76% | 289.20M | Apr 2026 | WEEL vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.81% | 90.28M | Feb 2025 | WEEL vs HYTI | |
| Main Buywrite ETF | 4.86% | 1.30B | Dec 2015 | WEEL vs BUYW |
Lowest Drawdown Alternatives to WEEL
WEEL has a 1-year max drawdown of -4.60%. There are 9 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.84%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -0.84% | 489.70M | Oct 2022 | WEEL vs BUCK | |
| iShares High Yield Corporate Bond Buywrite Strateg... | -1.82% | 112.06M | Aug 2022 | WEEL vs HYGW | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.28M | Feb 2025 | WEEL vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.30B | Dec 2015 | WEEL vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | WEEL vs THTA |
Other ETFs from Tidal
The 10 most viewed Tidal ETFs shown here include GRNY, NANC, BOAT and span 9 categories. AUM among these funds goes as high as $4B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Fundstrat Granny Shots U.S. Large Cap ETF | Large Cap Blend Equities | 35 | 9.17% | 3.61B | Nov 2024 | WEEL vs GRNY | |
| Unusual Whales Subversive Democratic Trading ETF | Large Cap Blend Equities | 47 | 9.12% | 265.74M | Feb 2023 | WEEL vs NANC | |
| SonicShares Global Shipping ETF | Industrials Equities, Global Equities | 93 | 44.78% | 82.19M | Aug 2021 | WEEL vs BOAT | |
| UPAR Ultra Risk Parity ETF | Diversified Portfolio | 42 | 3.37% | 58.82M | Jan 2022 | WEEL vs UPAR | |
| Unlimited HFND Multi-Strategy Return Tracker ETF | Multistrategy | 65 | 7.36% | 33.60M | Oct 2022 | WEEL vs HFND | |
| God Bless America ETF | Large Cap Blend Equities | 10 | -3.72% | 101.04M | Oct 2022 | WEEL vs YALL | |
| Fundstrat Granny Shots US Large Cap & Income ETF | Derivative Income | — | 7.63% | 51.03M | Nov 2025 | WEEL vs GRNI | |
| Blueprint Chesapeake Multi-Asset Trend ETF | Global Allocation | 75 | 16.44% | 163.81M | Jul 2023 | WEEL vs TFPN | |
| YieldMax JPM Option Income Strategy ETF | Options Trading | 34 | 8.98% | 51.23M | Sep 2023 | WEEL vs JPO | |
| Even Herd Long Short ETF | Long-Short | 37 | 10.15% | 59.50M | Apr 2024 | WEEL vs EHLS |
Often Compared With WEEL
Investors most often compare WEEL with RWL, SPYI, QQQI. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare WEEL with Any Fund or Stock
Compare WEEL with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair WEEL with funds that move differently
Peerless Option Income Wheel ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to WEEL.
Explore WEEL Diversifiers