AMZP vs. APLY

Last updated Jun 3, 2026

AMZP (Kurv Yield Premium Strategy Amazon AMZN ETF) and APLY (YieldMax AAPL Option Income Strategy ETF) are both Options Trading funds. Both are actively managed. Over the past year, AMZP returned 23.84% vs 38.48% for APLY. At a 0.34 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

AMZP vs. APLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) 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, AMZP achieves a 8.22% return, which is significantly lower than APLY's 10.44% return.

AMZP

• 1D: -1.91%
• 1M: -5.00%
• YTD: 8.22%
• 6M: 7.97%
• 1Y: 23.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

APLY

• 1D: 2.35%
• 1M: 9.01%
• YTD: 10.44%
• 6M: 6.60%
• 1Y: 38.48%
• 3Y*: 12.10%
• 5Y*: —
• 10Y*: —

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

AMZP vs. APLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	8.22%	9.56%	37.42%	7.73%
APLY YieldMax AAPL Option Income Strategy ETF	10.44%	4.69%	18.62%	5.64%

Correlation

The correlation between AMZP and APLY is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Nov 7, 2023	0.34

Return for Risk

AMZP vs. APLY — Risk / Return Rank

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

AMZP

AMZP Risk / Return Rank: 23
AMZP Sharpe Ratio Rank: 24
AMZP Sortino Ratio Rank: 24
AMZP Omega Ratio Rank: 24
AMZP Calmar Ratio Rank: 23
AMZP Martin Ratio Rank: 22

APLY

APLY Risk / Return Rank: 61
APLY Sharpe Ratio Rank: 64
APLY Sortino Ratio Rank: 62
APLY Omega Ratio Rank: 65
APLY Calmar Ratio Rank: 65
APLY Martin Ratio Rank: 50

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.

AMZP vs. APLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) 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.

	AMZP	APLY	Difference
Sharpe ratio Return per unit of total volatility	0.83	2.15	-1.33
Sortino ratio Return per unit of downside risk	1.28	2.94	-1.66
Omega ratio Gain probability vs. loss probability	1.16	1.40	-0.24
Calmar ratio Return relative to maximum drawdown	1.05	3.31	-2.26
Martin ratio Return relative to average drawdown	2.71	8.45	-5.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMZP vs. APLY - Sharpe Ratio Comparison

The current AMZP Sharpe Ratio is 0.83, which is lower than the APLY Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of AMZP 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.

Sharpe Ratios by Period

	AMZP	APLY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	2.15	-1.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.70	+0.22

Drawdowns

AMZP vs. APLY - Drawdown Comparison

The maximum AMZP drawdown since its inception was -27.36%, smaller than the maximum APLY drawdown of -30.41%. Use the drawdown chart below to compare losses from any high point for AMZP and APLY.

Drawdown Indicators

	AMZP	APLY	Difference
Max Drawdown Largest peak-to-trough decline	-27.36%	-30.41%	+3.05%
Max Drawdown (1Y) Largest decline over 1 year	-23.64%	-11.76%	-11.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.41%	—
Current Drawdown Current decline from peak	-7.65%	0.00%	-7.65%
Average Drawdown Average peak-to-trough decline	-6.02%	-6.94%	+0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.15%	4.60%	+4.55%

Volatility

AMZP vs. APLY - Volatility Comparison

Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) has a higher volatility of 8.11% compared to YieldMax AAPL Option Income Strategy ETF (APLY) at 4.13%. This indicates that AMZP'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

	AMZP	APLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.11%	4.13%	+3.98%
Volatility (6M) Calculated over the trailing 6-month period	22.00%	13.03%	+8.97%
Volatility (1Y) Calculated over the trailing 1-year period	28.99%	17.96%	+11.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.81%	20.97%	+5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.81%	20.97%	+5.84%

AMZP vs. APLY - Expense Ratio Comparison

Both AMZP and APLY have an expense ratio of 0.99%.

Dividends

AMZP vs. APLY - Dividend Comparison

AMZP's dividend yield for the trailing twelve months is around 19.00%, less than APLY's 34.43% yield.

Position	TTM	2025	2024	2023
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	19.00%	22.04%	15.15%	2.45%
APLY YieldMax AAPL Option Income Strategy ETF	34.43%	36.38%	24.95%	14.36%

Frequently Asked Questions

Can I hold both AMZP and APLY in my portfolio?

AMZP and APLY have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZP or APLY?

AMZP has higher volatility (8.11%) compared to APLY (4.13%). In terms of maximum drawdown, AMZP dropped -27.36% vs APLY's -30.41%.

Which ETF is better, AMZP or APLY?

On 1-year performance, APLY leads with 38.48% vs 23.84% for AMZP. Both ETFs have the same 0.99% expense ratio. On volatility, APLY has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZP or APLY?

Over the 1-year period, APLY has performed better with a 38.48% return vs 23.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZP or APLY?

AMZP and APLY have the same expense ratio: 0.99% per year.

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

APLY has the higher dividend yield at 34.43%, compared with 19.00% for AMZP.

What is the main difference between AMZP and APLY?

They also come from different issuers: Kurv and YieldMax.

Which has better risk-adjusted returns?

APLY currently has the higher Sharpe Ratio (2.15 vs 0.83), 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.