AAPW vs. APLY

Last updated Aug 4, 2026

AAPW (AAPL WeeklyPay™ ETF) and APLY (YieldMax AAPL Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, AAPW returned 54.84% vs 30.59% for APLY. Their correlation of 0.92 means they have usually moved in the same direction. AAPW charges 0.99%/yr vs 1.04%/yr for APLY.

Performance

AAPW vs. APLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAPL WeeklyPay™ ETF (AAPW) and YieldMax AAPL Option Income Strategy ETF (APLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPW achieves a 11.02% return, which is significantly higher than APLY's 5.98% return.

AAPW

• 1D: -2.28%
• 1M: -2.47%
• 6M: 12.40%
• YTD: 11.02%
• 1Y: 54.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.83%

APLY

• 1D: -1.03%
• 1M: -2.06%
• 6M: 7.46%
• YTD: 5.98%
• 1Y: 30.59%
• 3Y*: 10.36%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAPW AAPL WeeklyPay™ ETF	$952.50K	$777.94K	$708.97K
APLY YieldMax AAPL Option Income Strategy ETF	$2.70M	$1.76M	$1.65M

AAPW vs. APLY - Yearly Performance Comparison

	2026 (YTD)	2025
AAPW AAPL WeeklyPay™ ETF	11.02%	8.71%
APLY YieldMax AAPL Option Income Strategy ETF	5.98%	8.38%

Correlation

The correlation between AAPW and APLY is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.92

The correlation between AAPW and APLY has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

AAPW vs. APLY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AAPW

AAPW Risk / Return Rank: 72
AAPW Sharpe Ratio Rank: 74
AAPW Sortino Ratio Rank: 70
AAPW Omega Ratio Rank: 74
AAPW Calmar Ratio Rank: 83
AAPW Martin Ratio Rank: 60

APLY

APLY Risk / Return Rank: 60
APLY Sharpe Ratio Rank: 58
APLY Sortino Ratio Rank: 53
APLY Omega Ratio Rank: 66
APLY Calmar Ratio Rank: 73
APLY Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AAPW vs. APLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAPL WeeklyPay™ ETF (AAPW) and YieldMax AAPL Option Income Strategy ETF (APLY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAPW	APLY	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.42	+0.33
Sortino ratio: Return per unit of downside risk	2.35	1.91	+0.44
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	3.17	2.61	+0.56
Martin ratio: Return relative to average drawdown	7.52	6.22	+1.30

AAPW vs. APLY - Sharpe Ratio Comparison

The current AAPW Sharpe Ratio is 1.75, which is comparable to the APLY Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of AAPW and APLY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAPW vs. APLY - Drawdown Comparison

The maximum AAPW drawdown since its inception was -36.28%, which is greater than APLY's maximum drawdown of -30.41%. Use the drawdown chart below to compare losses from any high point for AAPW and APLY.

Drawdown Indicators

	AAPW	APLY	Difference
Max Drawdown Largest peak-to-trough decline	-36.28%	-30.41%	-5.87%
Max Drawdown (1Y) Largest decline over 1 year	-17.36%	-11.76%	-5.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.41%	—
Current Drawdown Current decline from peak	-13.04%	-9.63%	-3.41%
Average Drawdown Average peak-to-trough decline	-10.45%	-6.75%	-3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.32%	4.93%	+2.39%

Volatility

AAPW vs. APLY - Volatility Comparison

AAPL WeeklyPay™ ETF (AAPW) has a higher volatility of 13.12% compared to YieldMax AAPL Option Income Strategy ETF (APLY) at 9.62%. This indicates that AAPW's price experiences larger fluctuations and is considered to be riskier than APLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPW	APLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.12%	9.62%	+3.50%
Volatility (6M) Calculated over the trailing 6-month period	24.92%	17.88%	+7.04%
Volatility (1Y) Calculated over the trailing 1-year period	31.52%	21.61%	+9.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.69%	21.73%	+13.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.69%	21.73%	+13.96%

AAPW vs. APLY - Expense Ratio Comparison

AAPW has a 0.99% expense ratio, which is lower than APLY's 1.04% expense ratio.

Dividends

AAPW vs. APLY - Dividend Comparison

AAPW's dividend yield for the trailing twelve months is around 31.96%, less than APLY's 36.97% yield.

Position	TTM	2025	2024	2023
AAPW AAPL WeeklyPay™ ETF	31.96%	28.83%	0.00%	0.00%
APLY YieldMax AAPL Option Income Strategy ETF	36.97%	36.38%	24.95%	14.36%

Frequently Asked Questions

Can I hold both AAPW and APLY in my portfolio?

With a correlation of 0.94, AAPW and APLY 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 APLY?

AAPW has higher volatility (13.12%) compared to APLY (9.62%). In terms of maximum drawdown, AAPW dropped -36.28% vs APLY's -30.41%.

Which ETF is better, AAPW or APLY?

On 1-year performance, AAPW leads with 54.84% vs 30.59% for APLY. On fees, AAPW is cheaper at 0.99% per year. On volatility, APLY has been the lower-risk option at 9.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPW or APLY?

Over the 1-year period, AAPW has performed better with a 54.84% return vs 30.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPW or APLY?

AAPW is cheaper with a 0.99% expense ratio, compared with 1.04% for APLY.

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

APLY has the higher dividend yield at 36.97%, compared with 31.96% for AAPW.

What is the main difference between AAPW and APLY?

They also come from different issuers: Roundhill and YieldMax. Their fees differ too: 0.99% for AAPW and 1.04% for APLY.

Which has better risk-adjusted returns?

AAPW currently has the higher Sharpe Ratio (1.75 vs 1.42), 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.