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 145 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% | 29.28M | Nov 2024 | WEEL vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 45.73M | Sep 2024 | WEEL vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 324.77M | Mar 2024 | WEEL vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | WEEL vs FYEE | |
| Invesco QQQ Income Advantage ETF | 0.29% | 787.43M | Jul 2024 | WEEL vs QQA |
Best Risk-Adjusted Alternatives to WEEL
WEEL has a PortfoliosLab risk / return rank of 79. There are 20 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| SoFi Enhanced Yield ETF | 95 | 34.73M | Nov 2023 | WEEL vs THTA | |
| Simplify Treasury Option Income ETF | 95 | 474.96M | Oct 2022 | WEEL vs BUCK | |
| YieldMax Semiconductor Portfolio Option Income ETF | 94 | 1.16B | Apr 2025 | WEEL vs CHPY | |
| YieldMax AMD Option Income Strategy ETF | 93 | 443.39M | Sep 2023 | WEEL vs AMDY | |
| YieldMax GOOGL Option Income Strategy ETF | 93 | 246.95M | Jul 2023 | WEEL vs GOOY |
Top Performing WEEL Alternatives (YTD)
WEEL is at 5.76% YTD. There are 123 ETFs in the Derivative Income category with higher YTD returns, going as high as 207.86%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 207.86% | 27.86M | Oct 2025 | WEEL vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 184.48% | 116.76M | Jul 2025 | WEEL vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 109.12% | 443.39M | Sep 2023 | WEEL vs AMDY | |
| YieldMax MRNA Option Income Strategy ETF | 89.76% | 127.56M | Oct 2023 | WEEL vs MRNY | |
| YieldMax Semiconductor Portfolio Option Income ETF | 70.96% | 1.16B | Apr 2025 | WEEL vs CHPY |
Lowest Volatility Alternatives to WEEL
WEEL has 8.43% 1-year volatility. There are 25 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.80%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.80% | 474.96M | Oct 2022 | WEEL vs BUCK | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.45% | 206.17M | Apr 2026 | WEEL vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.86% | 88.48M | Feb 2025 | WEEL vs HYTI | |
| Main Buywrite ETF | 4.86% | 1.26B | Dec 2015 | WEEL vs BUYW | |
| GraniteShares YieldBOOST 20Y+ Treasuries ETF | 5.08% | 726.94K | May 2026 | WEEL vs FIYY |
Lowest Drawdown Alternatives to WEEL
WEEL has a 1-year max drawdown of -4.60%. There are 8 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% | 474.96M | Oct 2022 | WEEL vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 88.48M | Feb 2025 | WEEL vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.26B | Dec 2015 | WEEL vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | WEEL vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | WEEL vs OMAH |
Often Compared With WEEL
Investors most often compare WEEL with QQQI, SPYI, RWL. These 20 comparison targets span 6 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