AAPY vs. FTQI

Last updated Jul 17, 2026

AAPY (Kurv Yield Premium Strategy Apple (AAPL) ETF) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both exchange-traded funds - AAPY is a Derivative Income fund actively managed by Kurv, while FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index. AAPY is actively managed, while FTQI is passively managed. Over the past year, AAPY returned 47.12% vs 26.34% for FTQI. At a 0.48 correlation, their price movements are largely independent. AAPY charges 0.99%/yr vs 0.75%/yr for FTQI.

Performance

AAPY vs. FTQI - Performance Comparison

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

Returns By Period

In the year-to-date period, AAPY achieves a 21.72% return, which is significantly higher than FTQI's 12.76% return.

AAPY

• 1D: 1.83%
• 1M: 10.74%
• 6M: 28.19%
• YTD: 21.72%
• 1Y: 47.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTQI

• 1D: -0.72%
• 1M: 1.28%
• 6M: 11.68%
• YTD: 12.76%
• 1Y: 26.34%
• 3Y*: 16.62%
• 5Y*: 12.26%
• 10Y*: 7.85%

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

AAPY vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	21.72%	5.04%	20.54%	9.18%
FTQI First Trust Nasdaq BuyWrite Income ETF	12.76%	12.68%	18.30%	10.75%

Correlation

The correlation between AAPY and FTQI is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.48

Return for Risk

AAPY vs. FTQI — Risk / Return Rank

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

AAPY

AAPY Risk / Return Rank: 73
AAPY Sharpe Ratio Rank: 77
AAPY Sortino Ratio Rank: 72
AAPY Omega Ratio Rank: 78
AAPY Calmar Ratio Rank: 79
AAPY Martin Ratio Rank: 59

FTQI

FTQI Risk / Return Rank: 91
FTQI Sharpe Ratio Rank: 90
FTQI Sortino Ratio Rank: 89
FTQI Omega Ratio Rank: 90
FTQI Calmar Ratio Rank: 89
FTQI Martin Ratio Rank: 94

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. FTQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and First Trust Nasdaq BuyWrite Income ETF (FTQI). 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.

	AAPY	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.43	-0.48
Sortino ratio: Return per unit of downside risk	2.59	3.37	-0.78
Omega ratio: Gain probability vs. loss probability	1.36	1.45	-0.09
Calmar ratio: Return relative to maximum drawdown	3.27	4.24	-0.97
Martin ratio: Return relative to average drawdown	8.25	20.07	-11.83

AAPY vs. FTQI - Sharpe Ratio Comparison

The current AAPY Sharpe Ratio is 1.95, which is comparable to the FTQI Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of AAPY and FTQI, 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

AAPY vs. FTQI - Drawdown Comparison

The maximum AAPY drawdown since its inception was -29.22%, which is greater than FTQI's maximum drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for AAPY and FTQI.

Drawdown Indicators

	AAPY	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-29.22%	-19.42%	-9.80%
Max Drawdown (1Y) Largest decline over 1 year	-14.47%	-6.24%	-8.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	0.00%	-0.85%	+0.85%
Average Drawdown Average peak-to-trough decline	-6.29%	-3.73%	-2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.73%	1.32%	+4.41%

Volatility

AAPY vs. FTQI - Volatility Comparison

Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) has a higher volatility of 11.44% compared to First Trust Nasdaq BuyWrite Income ETF (FTQI) at 2.92%. This indicates that AAPY's price experiences larger fluctuations and is considered to be riskier than FTQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPY	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.44%	2.92%	+8.52%
Volatility (6M) Calculated over the trailing 6-month period	21.50%	8.83%	+12.67%
Volatility (1Y) Calculated over the trailing 1-year period	24.28%	10.87%	+13.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.36%	14.82%	+8.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.36%	12.98%	+10.38%

AAPY vs. FTQI - Expense Ratio Comparison

AAPY has a 0.99% expense ratio, which is higher than FTQI's 0.75% expense ratio.

Dividends

AAPY vs. FTQI - Dividend Comparison

AAPY's dividend yield for the trailing twelve months is around 9.87%, less than FTQI's 10.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	9.87%	12.66%	17.15%	2.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FTQI First Trust Nasdaq BuyWrite Income ETF	10.92%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%

Frequently Asked Questions

Can I hold both AAPY and FTQI in my portfolio?

AAPY and FTQI have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPY or FTQI?

AAPY has higher volatility (11.44%) compared to FTQI (2.92%). In terms of maximum drawdown, AAPY dropped -29.22% vs FTQI's -19.42%.

Which ETF is better, AAPY or FTQI?

On 1-year performance, AAPY leads with 47.12% vs 26.34% for FTQI. On fees, FTQI is cheaper at 0.75% per year. On volatility, FTQI has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPY or FTQI?

Over the 1-year period, AAPY has performed better with a 47.12% return vs 26.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPY or FTQI?

FTQI is cheaper with a 0.75% expense ratio, compared with 0.99% for AAPY.

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

FTQI has the higher dividend yield at 10.92%, compared with 9.87% for AAPY.

What is the main difference between AAPY and FTQI?

AAPY is categorized as Derivative Income, while FTQI is Nasdaq-100. They also come from different issuers: Kurv and First Trust. Their fees differ too: 0.99% for AAPY and 0.75% for FTQI.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.43 vs 1.95), 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.