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 127 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% | 27.28M | Nov 2024 | WEEL vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 46.44M | Sep 2024 | WEEL vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 292.36M | Mar 2024 | WEEL vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 166.08M | Apr 2024 | WEEL vs FYEE | |
| Goldman Sachs S&P 500 Premium Income ETF | 0.29% | 4.25B | Oct 2023 | WEEL vs GPIX |
Best Risk-Adjusted Alternatives to WEEL
WEEL has a PortfoliosLab risk / return rank of 84. There are 11 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 97 | 1.02B | Apr 2025 | WEEL vs CHPY | |
| SoFi Enhanced Yield ETF | 92 | 34.73M | Nov 2023 | WEEL vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 298.09M | Jul 2023 | WEEL vs GOOY | |
| Global X NASDAQ 100 Covered Call ETF | 88 | 8.41B | Dec 2013 | WEEL vs QYLD | |
| YieldMax TSM Option Income Strategy ETF | 88 | 117.86M | Aug 2024 | WEEL vs TSMY |
Top Performing WEEL Alternatives (YTD)
WEEL is at 5.22% YTD. There are 111 ETFs in the Derivative Income category with higher YTD returns, going as high as 347.83%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 347.83% | 14.71M | Oct 2025 | WEEL vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 178.71% | 90.88M | Jul 2025 | WEEL vs AMDW | |
| YieldMax Semiconductor Portfolio Option Income ETF | 85.77% | 1.02B | Apr 2025 | WEEL vs CHPY | |
| Defiance Oil Enhanced Options Income ETF | 62.18% | 62.15M | May 2024 | WEEL vs USOY | |
| YieldMax MRNA Option Income Strategy ETF | 51.59% | 82.87M | Oct 2023 | WEEL vs MRNY |
Lowest Volatility Alternatives to WEEL
WEEL has 8.01% 1-year volatility. There are 19 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Dividend Performers ETF | 0.00% | 20.88M | Dec 2018 | WEEL vs IPDP | |
| Simplify Treasury Option Income ETF | 3.14% | 438.06M | Oct 2022 | WEEL vs BUCK | |
| Innovator Index Autocallable Income Strategy ETF | 3.15% | — | Sep 2025 | WEEL vs ACII | |
| FT Vest High Yield & Target Income ETF | 3.83% | 90.68M | Feb 2025 | WEEL vs HYTI | |
| Main Buywrite ETF | 4.85% | 1.21B | 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 -1.31%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -1.31% | 438.06M | Oct 2022 | WEEL vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.68M | Feb 2025 | WEEL vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.21B | 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 SPYI, QQQI, RWL. These 20 comparison targets span 5 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