APLY vs. AIYY

Last updated Aug 2, 2026

APLY (YieldMax AAPL Option Income Strategy ETF) and AIYY (YieldMax AI Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, APLY returned 31.95% vs -58.45% for AIYY. Their 0.26 correlation means their historical movements had little consistent relationship. APLY charges 1.04%/yr vs 0.99%/yr for AIYY.

Performance

APLY vs. AIYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AAPL Option Income Strategy ETF (APLY) and YieldMax AI Option Income Strategy ETF (AIYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APLY achieves a 7.08% return, which is significantly higher than AIYY's -34.72% return.

APLY

• 1D: -7.10%
• 1M: -1.04%
• 6M: 11.70%
• YTD: 7.08%
• 1Y: 31.95%
• 3Y*: 8.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.72%

AIYY

• 1D: 0.94%
• 1M: 0.94%
• 6M: -23.09%
• YTD: -34.72%
• 1Y: -58.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.38%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIYY YieldMax AI Option Income Strategy ETF	$582.53K	$560.85K	$820.27K
APLY YieldMax AAPL Option Income Strategy ETF	$2.55M	$1.69M	$1.63M

APLY vs. AIYY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APLY YieldMax AAPL Option Income Strategy ETF	7.08%	4.69%	18.62%	2.08%
AIYY YieldMax AI Option Income Strategy ETF	-34.72%	-58.98%	-14.74%	0.41%

Correlation

The correlation between APLY and AIYY is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (All Time) Calculated using the full available price history since Nov 28, 2023	0.26

Return for Risk

APLY vs. AIYY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

APLY

APLY Risk / Return Rank: 60
APLY Sharpe Ratio Rank: 57
APLY Sortino Ratio Rank: 52
APLY Omega Ratio Rank: 65
APLY Calmar Ratio Rank: 72
APLY Martin Ratio Rank: 52

AIYY

AIYY Risk / Return Rank: 1
AIYY Sharpe Ratio Rank: 1
AIYY Sortino Ratio Rank: 1
AIYY Omega Ratio Rank: 0
AIYY Calmar Ratio Rank: 1
AIYY Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

APLY vs. AIYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AAPL Option Income Strategy ETF (APLY) and YieldMax AI Option Income Strategy ETF (AIYY). 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.

	APLY	AIYY	Difference
Sharpe ratio: Return per unit of total volatility	1.36	-1.12	+2.48
Sortino ratio: Return per unit of downside risk	1.84	-1.74	+3.58
Omega ratio: Gain probability vs. loss probability	1.27	0.76	+0.51
Calmar ratio: Return relative to maximum drawdown	2.51	-0.96	+3.46
Martin ratio: Return relative to average drawdown	6.00	-1.32	+7.33

APLY vs. AIYY - Sharpe Ratio Comparison

The current APLY Sharpe Ratio is 1.36, which is higher than the AIYY Sharpe Ratio of -1.12. The chart below compares the historical Sharpe Ratios of APLY and AIYY, 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

APLY vs. AIYY - Drawdown Comparison

The maximum APLY drawdown since its inception was -30.41%, smaller than the maximum AIYY drawdown of -80.28%. Use the drawdown chart below to compare losses from any high point for APLY and AIYY.

Drawdown Indicators

	APLY	AIYY	Difference
Max Drawdown Largest peak-to-trough decline	-30.41%	-80.28%	+49.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	-63.12%	+51.36%
Max Drawdown (3Y) Largest decline over 3 years	-30.41%	—	—
Current Drawdown Current decline from peak	-8.69%	-78.68%	+69.99%
Average Drawdown Average peak-to-trough decline	-6.75%	-43.18%	+36.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	45.88%	-40.98%

Volatility

APLY vs. AIYY - Volatility Comparison

YieldMax AAPL Option Income Strategy ETF (APLY) and YieldMax AI Option Income Strategy ETF (AIYY) have volatilities of 10.36% and 9.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APLY	AIYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.36%	9.98%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	17.85%	39.51%	-21.66%
Volatility (1Y) Calculated over the trailing 1-year period	21.66%	53.88%	-32.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.73%	49.87%	-28.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.73%	49.87%	-28.14%

APLY vs. AIYY - Expense Ratio Comparison

APLY has a 1.04% expense ratio, which is higher than AIYY's 0.99% expense ratio.

Dividends

APLY vs. AIYY - Dividend Comparison

APLY's dividend yield for the trailing twelve months is around 36.59%, less than AIYY's 139.29% yield.

Position	TTM	2025	2024	2023
AIYY YieldMax AI Option Income Strategy ETF	139.29%	168.33%	98.26%	0.00%
APLY YieldMax AAPL Option Income Strategy ETF	36.59%	36.38%	24.95%	14.36%

Frequently Asked Questions

Can I hold both APLY and AIYY in my portfolio?

APLY and AIYY 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, APLY or AIYY?

APLY has higher volatility (10.36%) compared to AIYY (9.98%). In terms of maximum drawdown, APLY dropped -30.41% vs AIYY's -80.28%.

Which ETF is better, APLY or AIYY?

On 1-year performance, APLY leads with 31.95% vs -58.45% for AIYY. On fees, AIYY is cheaper at 0.99% per year. On volatility, AIYY has been the lower-risk option at 9.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APLY or AIYY?

Over the 1-year period, APLY has performed better with a 31.95% return vs -58.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APLY or AIYY?

AIYY is cheaper with a 0.99% expense ratio, compared with 1.04% for APLY.

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

AIYY has the higher dividend yield at 139.29%, compared with 36.59% for APLY.

What is the main difference between APLY and AIYY?

Their fees differ too: 1.04% for APLY and 0.99% for AIYY.

Which has better risk-adjusted returns?

APLY currently has the higher Sharpe Ratio (1.36 vs -1.12), 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.