AAPW vs. AAPY

Last updated Jun 4, 2026

AAPW (AAPL WeeklyPay™ ETF) and AAPY (Kurv Yield Premium Strategy Apple (AAPL) ETF) are both exchange-traded funds - AAPW is a Derivative Income fund actively managed by Roundhill, while AAPY is a Large Cap Blend Equities fund actively managed by Kurv. Both are actively managed. Over the past year, AAPW returned 59.54% vs 43.66% for AAPY. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.99% expense ratio.

Performance

AAPW vs. AAPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAPL WeeklyPay™ ETF (AAPW) and Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AAPW having a 15.21% return and AAPY slightly lower at 14.66%.

AAPW

• 1D: -1.85%
• 1M: 14.30%
• YTD: 15.21%
• 6M: 9.47%
• 1Y: 59.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAPY

• 1D: -1.55%
• 1M: 13.81%
• YTD: 14.66%
• 6M: 11.04%
• 1Y: 43.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPW vs. AAPY - Yearly Performance Comparison

	2026 (YTD)	2025
AAPW AAPL WeeklyPay™ ETF	15.21%	8.56%
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	14.66%	7.32%

Correlation

The correlation between AAPW and AAPY is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.93

The correlation between AAPW and AAPY has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

Return for Risk

AAPW vs. AAPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPW

AAPW Risk / Return Rank: 62
AAPW Sharpe Ratio Rank: 64
AAPW Sortino Ratio Rank: 64
AAPW Omega Ratio Rank: 62
AAPW Calmar Ratio Rank: 69
AAPW Martin Ratio Rank: 51

AAPY

AAPY Risk / Return Rank: 58
AAPY Sharpe Ratio Rank: 60
AAPY Sortino Ratio Rank: 58
AAPY Omega Ratio Rank: 62
AAPY Calmar Ratio Rank: 61
AAPY Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPW vs. AAPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAPL WeeklyPay™ ETF (AAPW) and Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAPW	AAPY	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.05	+0.12
Sortino ratio: Return per unit of downside risk	3.01	2.80	+0.21
Omega ratio: Gain probability vs. loss probability	1.38	1.38	0.00
Calmar ratio: Return relative to maximum drawdown	3.45	3.03	+0.42
Martin ratio: Return relative to average drawdown	8.65	8.23	+0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPW vs. AAPY - Sharpe Ratio Comparison

The current AAPW Sharpe Ratio is 2.17, which is comparable to the AAPY Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of AAPW and AAPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAPW	AAPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.05	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.87	-0.32

Drawdowns

AAPW vs. AAPY - Drawdown Comparison

The maximum AAPW drawdown since its inception was -36.28%, which is greater than AAPY's maximum drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for AAPW and AAPY.

Drawdown Indicators

	AAPW	AAPY	Difference
Max Drawdown Largest peak-to-trough decline	-36.28%	-29.22%	-7.06%
Max Drawdown (1Y) Largest decline over 1 year	-17.36%	-14.47%	-2.89%
Current Drawdown Current decline from peak	-1.85%	-1.55%	-0.30%
Average Drawdown Average peak-to-trough decline	-11.18%	-6.34%	-4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.91%	5.32%	+1.59%

Volatility

AAPW vs. AAPY - Volatility Comparison

AAPL WeeklyPay™ ETF (AAPW) has a higher volatility of 6.61% compared to Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) at 6.18%. This indicates that AAPW's price experiences larger fluctuations and is considered to be riskier than AAPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPW	AAPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	6.18%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	19.54%	17.77%	+1.77%
Volatility (1Y) Calculated over the trailing 1-year period	27.56%	21.42%	+6.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.72%	22.58%	+12.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.72%	22.58%	+12.14%

AAPW vs. AAPY - Expense Ratio Comparison

Both AAPW and AAPY have an expense ratio of 0.99%.

Dividends

AAPW vs. AAPY - Dividend Comparison

AAPW's dividend yield for the trailing twelve months is around 31.37%, more than AAPY's 11.30% yield.

Position	TTM	2025	2024	2023
AAPW AAPL WeeklyPay™ ETF	31.37%	28.83%	0.00%	0.00%
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	11.30%	12.66%	17.15%	2.16%

Frequently Asked Questions

Can I hold both AAPW and AAPY in my portfolio?

With a correlation of 0.93, AAPW and AAPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AAPW or AAPY?

AAPW has higher volatility (6.61%) compared to AAPY (6.18%). In terms of maximum drawdown, AAPW dropped -36.28% vs AAPY's -29.22%.

Which ETF is better, AAPW or AAPY?

On 1-year performance, AAPW leads with 59.54% vs 43.66% for AAPY. Both ETFs have the same 0.99% expense ratio. On volatility, AAPY has been the lower-risk option at 6.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPW or AAPY?

Over the 1-year period, AAPW has performed better with a 59.54% return vs 43.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPW or AAPY?

AAPW and AAPY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, AAPW or AAPY?

AAPW has the higher dividend yield at 31.37%, compared with 11.30% for AAPY.

What is the main difference between AAPW and AAPY?

AAPW is categorized as Derivative Income, while AAPY is Large Cap Blend Equities. They also come from different issuers: Roundhill and Kurv.

Which has better risk-adjusted returns?

AAPW currently has the higher Sharpe Ratio (2.17 vs 2.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.