AAPY vs. AAPW

Last updated Jun 4, 2026

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

Performance

AAPY vs. AAPW - Performance Comparison

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

Returns By Period

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

AAPY

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

AAPW

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

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

AAPY vs. AAPW - Yearly Performance Comparison

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

Correlation

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

Return for Risk

AAPY vs. AAPW — Risk / Return Rank

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

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

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

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.

AAPY vs. AAPW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and AAPL WeeklyPay™ ETF (AAPW). 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.

	AAPY	AAPW	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.17	-0.12
Sortino ratio: Return per unit of downside risk	2.80	3.01	-0.21
Omega ratio: Gain probability vs. loss probability	1.38	1.38	0.00
Calmar ratio: Return relative to maximum drawdown	3.03	3.45	-0.42
Martin ratio: Return relative to average drawdown	8.23	8.65	-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.

AAPY vs. AAPW - Sharpe Ratio Comparison

The current AAPY Sharpe Ratio is 2.05, which is comparable to the AAPW Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of AAPY and AAPW, 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

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

Drawdowns

AAPY vs. AAPW - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

AAPY vs. AAPW - Volatility Comparison

The current volatility for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) is 6.18%, while AAPL WeeklyPay™ ETF (AAPW) has a volatility of 6.61%. This indicates that AAPY experiences smaller price fluctuations and is considered to be less risky than AAPW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

AAPY vs. AAPW - Expense Ratio Comparison

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

Dividends

AAPY vs. AAPW - Dividend Comparison

AAPY's dividend yield for the trailing twelve months is around 11.30%, less than AAPW's 31.37% 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 AAPY and AAPW in my portfolio?

With a correlation of 0.93, AAPY and AAPW 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, AAPY or AAPW?

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

Which ETF is better, AAPY or AAPW?

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, AAPY or AAPW?

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, AAPY or AAPW?

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

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

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

What is the main difference between AAPY and AAPW?

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

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.