AIPI vs. IWMY

Last updated Jun 13, 2026

AIPI (REX AI Equity Premium Income ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - AIPI is a Derivative Income fund actively managed by REX, while IWMY is a Options Trading fund tracking the Russell 2000 Index. AIPI is actively managed, while IWMY is passively managed. Over the past year, AIPI returned 22.46% vs 21.26% for IWMY. A 0.64 correlation means they provide meaningful diversification when combined. AIPI charges 0.65%/yr vs 0.99%/yr for IWMY.

Performance

AIPI vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX AI Equity Premium Income ETF (AIPI) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIPI achieves a 6.90% return, which is significantly lower than IWMY's 13.70% return.

AIPI

• 1D: -0.32%
• 1M: 3.48%
• YTD: 6.90%
• 6M: 6.01%
• 1Y: 22.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: 0.68%
• 1M: 2.79%
• YTD: 13.70%
• 6M: 10.66%
• 1Y: 21.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AIPI vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AIPI REX AI Equity Premium Income ETF	6.90%	16.38%	15.79%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	13.70%	10.18%	2.64%

Correlation

The correlation between AIPI and IWMY is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	0.64

The correlation between AIPI and IWMY has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Return for Risk

AIPI vs. IWMY — Risk / Return Rank

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

AIPI

AIPI Risk / Return Rank: 40
AIPI Sharpe Ratio Rank: 45
AIPI Sortino Ratio Rank: 41
AIPI Omega Ratio Rank: 44
AIPI Calmar Ratio Rank: 36
AIPI Martin Ratio Rank: 36

IWMY

IWMY Risk / Return Rank: 41
IWMY Sharpe Ratio Rank: 42
IWMY Sortino Ratio Rank: 39
IWMY Omega Ratio Rank: 38
IWMY Calmar Ratio Rank: 42
IWMY Martin Ratio Rank: 42

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.

AIPI vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX AI Equity Premium Income ETF (AIPI) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.

	AIPI	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.31	+0.07
Sortino ratio: Return per unit of downside risk	1.85	1.79	+0.07
Omega ratio: Gain probability vs. loss probability	1.25	1.23	+0.02
Calmar ratio: Return relative to maximum drawdown	1.57	1.85	-0.28
Martin ratio: Return relative to average drawdown	4.82	6.03	-1.21

AIPI vs. IWMY - Sharpe Ratio Comparison

The current AIPI Sharpe Ratio is 1.38, which is comparable to the IWMY Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of AIPI and IWMY, 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

AIPI vs. IWMY - Drawdown Comparison

The maximum AIPI drawdown since its inception was -25.25%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for AIPI and IWMY.

Drawdown Indicators

	AIPI	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-25.25%	-18.72%	-6.53%
Max Drawdown (1Y) Largest decline over 1 year	-14.40%	-11.57%	-2.83%
Current Drawdown Current decline from peak	-4.20%	-0.12%	-4.08%
Average Drawdown Average peak-to-trough decline	-4.64%	-2.96%	-1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	3.54%	+1.13%

Volatility

AIPI vs. IWMY - Volatility Comparison

The current volatility for REX AI Equity Premium Income ETF (AIPI) is 5.30%, while Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a volatility of 6.80%. This indicates that AIPI experiences smaller price fluctuations and is considered to be less risky than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIPI	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	6.80%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	13.53%	13.47%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	16.36%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.42%	15.94%	+5.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.42%	15.94%	+5.48%

AIPI vs. IWMY - Expense Ratio Comparison

AIPI has a 0.65% expense ratio, which is lower than IWMY's 0.99% expense ratio.

Dividends

AIPI vs. IWMY - Dividend Comparison

AIPI's dividend yield for the trailing twelve months is around 36.97%, less than IWMY's 44.61% yield.

Position	TTM	2025	2024	2023
AIPI REX AI Equity Premium Income ETF	36.97%	37.84%	18.13%	0.00%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	44.61%	63.33%	107.92%	11.34%

Frequently Asked Questions

Can I hold both AIPI and IWMY in my portfolio?

AIPI and IWMY have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIPI or IWMY?

IWMY has higher volatility (6.80%) compared to AIPI (5.30%). In terms of maximum drawdown, AIPI dropped -25.25% vs IWMY's -18.72%.

Which ETF is better, AIPI or IWMY?

On 1-year performance, AIPI leads with 22.46% vs 21.26% for IWMY. On fees, AIPI is cheaper at 0.65% per year. On volatility, AIPI has been the lower-risk option at 5.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIPI or IWMY?

Over the 1-year period, AIPI has performed better with a 22.46% return vs 21.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIPI or IWMY?

AIPI is cheaper with a 0.65% expense ratio, compared with 0.99% for IWMY.

Which ETF pays a higher dividend yield, AIPI or IWMY?

IWMY has the higher dividend yield at 44.61%, compared with 36.97% for AIPI.

What is the main difference between AIPI and IWMY?

AIPI is categorized as Derivative Income, while IWMY is Options Trading. They also come from different issuers: REX and Defiance. Their fees differ too: 0.65% for AIPI and 0.99% for IWMY.

Which has better risk-adjusted returns?

AIPI currently has the higher Sharpe Ratio (1.38 vs 1.31), 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.