AMZP vs. IWMY

Last updated Jun 24, 2026

AMZP (Kurv Yield Premium Strategy Amazon AMZN ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both Options Trading funds. AMZP is actively managed, while IWMY is passively managed. Over the past year, AMZP returned 11.65% vs 21.86% for IWMY. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

AMZP vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) 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, AMZP achieves a -2.19% return, which is significantly lower than IWMY's 14.94% return.

AMZP

• 1D: 0.48%
• 1M: -13.35%
• YTD: -2.19%
• 6M: -2.18%
• 1Y: 11.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: -0.81%
• 1M: 3.35%
• YTD: 14.94%
• 6M: 12.52%
• 1Y: 21.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMZP vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	-2.19%	9.56%	37.42%	7.73%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	14.94%	10.18%	5.56%	6.93%

Correlation

The correlation between AMZP and IWMY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.43

Return for Risk

AMZP vs. IWMY — Risk / Return Rank

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

AMZP

AMZP Risk / Return Rank: 14
AMZP Sharpe Ratio Rank: 14
AMZP Sortino Ratio Rank: 15
AMZP Omega Ratio Rank: 15
AMZP Calmar Ratio Rank: 14
AMZP Martin Ratio Rank: 14

IWMY

IWMY Risk / Return Rank: 39
IWMY Sharpe Ratio Rank: 39
IWMY Sortino Ratio Rank: 37
IWMY Omega Ratio Rank: 36
IWMY Calmar Ratio Rank: 39
IWMY Martin Ratio Rank: 41

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. IWMY - Risk-Adjusted Trends Comparison

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

	AMZP	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	0.39	1.34	-0.95
Sortino ratio: Return per unit of downside risk	0.73	1.84	-1.11
Omega ratio: Gain probability vs. loss probability	1.09	1.23	-0.14
Calmar ratio: Return relative to maximum drawdown	0.50	1.90	-1.40
Martin ratio: Return relative to average drawdown	1.21	6.20	-4.99

AMZP vs. IWMY - Sharpe Ratio Comparison

The current AMZP Sharpe Ratio is 0.39, which is lower than the IWMY Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of AMZP 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

AMZP vs. IWMY - Drawdown Comparison

The maximum AMZP drawdown since its inception was -27.36%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for AMZP and IWMY.

Drawdown Indicators

	AMZP	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-27.36%	-18.72%	-8.64%
Max Drawdown (1Y) Largest decline over 1 year	-23.64%	-11.57%	-12.07%
Current Drawdown Current decline from peak	-16.53%	-0.81%	-15.72%
Average Drawdown Average peak-to-trough decline	-6.16%	-2.94%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.67%	3.54%	+6.13%

Volatility

AMZP vs. IWMY - Volatility Comparison

Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) has a higher volatility of 10.66% compared to Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) at 6.20%. This indicates that AMZP's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZP	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.66%	6.20%	+4.46%
Volatility (6M) Calculated over the trailing 6-month period	23.61%	13.55%	+10.06%
Volatility (1Y) Calculated over the trailing 1-year period	30.20%	16.37%	+13.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.14%	15.95%	+11.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.14%	15.95%	+11.19%

AMZP vs. IWMY - Expense Ratio Comparison

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

Dividends

AMZP vs. IWMY - Dividend Comparison

AMZP's dividend yield for the trailing twelve months is around 20.90%, less than IWMY's 43.75% yield.

Position	TTM	2025	2024	2023
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	20.90%	22.04%	15.15%	2.45%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	43.75%	63.33%	107.92%	11.34%

Frequently Asked Questions

Can I hold both AMZP and IWMY in my portfolio?

AMZP and IWMY have a correlation of 0.38, 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 IWMY?

AMZP has higher volatility (10.66%) compared to IWMY (6.20%). In terms of maximum drawdown, AMZP dropped -27.36% vs IWMY's -18.72%.

Which ETF is better, AMZP or IWMY?

On 1-year performance, IWMY leads with 21.86% vs 11.65% for AMZP. Both ETFs have the same 0.99% expense ratio. On volatility, IWMY has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZP or IWMY?

Over the 1-year period, IWMY has performed better with a 21.86% return vs 11.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZP or IWMY?

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

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

IWMY has the higher dividend yield at 43.75%, compared with 20.90% for AMZP.

What is the main difference between AMZP and IWMY?

They also come from different issuers: Kurv and Defiance.

Which has better risk-adjusted returns?

IWMY currently has the higher Sharpe Ratio (1.34 vs 0.39), 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.