AAPW vs. WEEL

Last updated Jun 24, 2026

AAPW (AAPL WeeklyPay™ ETF) and WEEL (Peerless Option Income Wheel ETF) are both Derivative Income funds. Both are actively managed. Over the past year, AAPW returned 51.64% vs 16.22% for WEEL. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

AAPW vs. WEEL - Performance Comparison

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

Returns By Period

In the year-to-date period, AAPW achieves a 8.31% return, which is significantly higher than WEEL's 4.37% return.

AAPW

• 1D: -0.52%
• 1M: -5.58%
• YTD: 8.31%
• 6M: 8.41%
• 1Y: 51.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WEEL

• 1D: -0.05%
• 1M: -0.50%
• YTD: 4.37%
• 6M: 4.65%
• 1Y: 16.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AAPW vs. WEEL - Yearly Performance Comparison

	2026 (YTD)	2025
AAPW AAPL WeeklyPay™ ETF	8.31%	8.71%
WEEL Peerless Option Income Wheel ETF	4.37%	11.74%

Correlation

The correlation between AAPW and WEEL is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.43

The correlation between AAPW and WEEL shifts across timeframes, from 0.32 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

AAPW vs. WEEL - Sectors Allocation Comparison

Sectors	AAPW	WEEL
Technology	20.1%	11.6%
Basic Materials	-	9.4%
Communication Services	-	5.5%
Consumer Cyclical	-	12.6%
Consumer Defensive	-	2.0%
Energy	-	2.8%
Financial Services	-	23.3%
Healthcare	-	17.2%
Industrials	-	2.6%
Real Estate	-	4.5%
Utilities	-	8.5%

Return for Risk

AAPW vs. WEEL — Risk / Return Rank

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

AAPW

AAPW Risk / Return Rank: 57
AAPW Sharpe Ratio Rank: 59
AAPW Sortino Ratio Rank: 59
AAPW Omega Ratio Rank: 58
AAPW Calmar Ratio Rank: 64
AAPW Martin Ratio Rank: 46

WEEL

WEEL Risk / Return Rank: 74
WEEL Sharpe Ratio Rank: 65
WEEL Sortino Ratio Rank: 72
WEEL Omega Ratio Rank: 72
WEEL Calmar Ratio Rank: 74
WEEL Martin Ratio Rank: 85

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. WEEL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAPL WeeklyPay™ ETF (AAPW) and Peerless Option Income Wheel ETF (WEEL). 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	WEEL	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.98	-0.11
Sortino ratio: Return per unit of downside risk	2.64	2.99	-0.35
Omega ratio: Gain probability vs. loss probability	1.33	1.39	-0.06
Calmar ratio: Return relative to maximum drawdown	2.99	3.54	-0.55
Martin ratio: Return relative to average drawdown	7.35	16.45	-9.10

AAPW vs. WEEL - Sharpe Ratio Comparison

The current AAPW Sharpe Ratio is 1.87, which is comparable to the WEEL Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of AAPW and WEEL, 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. WEEL - Drawdown Comparison

The maximum AAPW drawdown since its inception was -36.28%, which is greater than WEEL's maximum drawdown of -17.45%. Use the drawdown chart below to compare losses from any high point for AAPW and WEEL.

Drawdown Indicators

	AAPW	WEEL	Difference
Max Drawdown Largest peak-to-trough decline	-36.28%	-17.45%	-18.83%
Max Drawdown (1Y) Largest decline over 1 year	-17.36%	-4.60%	-12.76%
Current Drawdown Current decline from peak	-7.72%	-1.49%	-6.23%
Average Drawdown Average peak-to-trough decline	-10.97%	-1.44%	-9.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.05%	0.99%	+6.06%

Volatility

AAPW vs. WEEL - Volatility Comparison

AAPL WeeklyPay™ ETF (AAPW) has a higher volatility of 8.10% compared to Peerless Option Income Wheel ETF (WEEL) at 2.94%. This indicates that AAPW's price experiences larger fluctuations and is considered to be riskier than WEEL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPW	WEEL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	2.94%	+5.16%
Volatility (6M) Calculated over the trailing 6-month period	20.25%	6.39%	+13.86%
Volatility (1Y) Calculated over the trailing 1-year period	27.73%	8.23%	+19.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.43%	12.81%	+21.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.43%	12.81%	+21.62%

AAPW vs. WEEL - Expense Ratio Comparison

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

Dividends

AAPW vs. WEEL - Dividend Comparison

AAPW's dividend yield for the trailing twelve months is around 33.36%, more than WEEL's 12.56% yield.

Position	TTM	2025	2024
AAPW AAPL WeeklyPay™ ETF	33.36%	28.83%	0.00%
WEEL Peerless Option Income Wheel ETF	12.56%	12.72%	6.88%

Frequently Asked Questions

Can I hold both AAPW and WEEL in my portfolio?

AAPW and WEEL have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPW or WEEL?

AAPW has higher volatility (8.10%) compared to WEEL (2.94%). In terms of maximum drawdown, AAPW dropped -36.28% vs WEEL's -17.45%.

Which ETF is better, AAPW or WEEL?

On 1-year performance, AAPW leads with 51.64% vs 16.22% for WEEL. Both ETFs have the same 0.99% expense ratio. On volatility, WEEL has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPW or WEEL?

Over the 1-year period, AAPW has performed better with a 51.64% return vs 16.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPW or WEEL?

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

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

AAPW has the higher dividend yield at 33.36%, compared with 12.56% for WEEL.

What is the main difference between AAPW and WEEL?

They also come from different issuers: Roundhill and Peerless ETFs.

Which has better risk-adjusted returns?

WEEL currently has the higher Sharpe Ratio (1.98 vs 1.87), 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.