APLY vs. ENFR

Last updated Jun 25, 2026

APLY (YieldMax AAPL Option Income Strategy ETF) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - APLY is a Options Trading fund actively managed by YieldMax, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. APLY is actively managed, while ENFR is passively managed. Over the past 3 years, APLY returned 8.86%/yr vs 28.30%/yr for ENFR. At a 0.03 correlation, their price movements are largely independent. APLY charges 0.99%/yr vs 0.35%/yr for ENFR.

Performance

APLY vs. ENFR - Performance Comparison

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

Returns By Period

In the year-to-date period, APLY achieves a 4.03% return, which is significantly lower than ENFR's 23.18% return.

APLY

• 1D: -0.03%
• 1M: -4.46%
• YTD: 4.03%
• 6M: 3.50%
• 1Y: 31.89%
• 3Y*: 8.86%
• 5Y*: —
• 10Y*: —

ENFR

• 1D: -1.40%
• 1M: -5.86%
• YTD: 23.18%
• 6M: 23.40%
• 1Y: 25.06%
• 3Y*: 28.30%
• 5Y*: 19.73%
• 10Y*: 11.82%

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

APLY vs. ENFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APLY YieldMax AAPL Option Income Strategy ETF	4.03%	4.69%	18.62%	11.43%
ENFR Alerian Energy Infrastructure ETF	23.18%	5.88%	42.17%	12.17%

Correlation

The correlation between APLY and ENFR is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Apr 18, 2023	0.03

The correlation between APLY and ENFR shifts across timeframes, from -0.13 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

APLY vs. ENFR — Risk / Return Rank

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

APLY

APLY Risk / Return Rank: 58
APLY Sharpe Ratio Rank: 60
APLY Sortino Ratio Rank: 59
APLY Omega Ratio Rank: 62
APLY Calmar Ratio Rank: 62
APLY Martin Ratio Rank: 45

ENFR

ENFR Risk / Return Rank: 55
ENFR Sharpe Ratio Rank: 56
ENFR Sortino Ratio Rank: 54
ENFR Omega Ratio Rank: 51
ENFR Calmar Ratio Rank: 65
ENFR Martin Ratio Rank: 48

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.

APLY vs. ENFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AAPL Option Income Strategy ETF (APLY) and Alerian Energy Infrastructure ETF (ENFR). 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	ENFR	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.69	+0.09
Sortino ratio: Return per unit of downside risk	2.49	2.35	+0.14
Omega ratio: Gain probability vs. loss probability	1.34	1.29	+0.05
Calmar ratio: Return relative to maximum drawdown	2.72	2.91	-0.19
Martin ratio: Return relative to average drawdown	6.76	7.39	-0.63

APLY vs. ENFR - Sharpe Ratio Comparison

The current APLY Sharpe Ratio is 1.79, which is comparable to the ENFR Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of APLY and ENFR, 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. ENFR - Drawdown Comparison

The maximum APLY drawdown since its inception was -30.41%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for APLY and ENFR.

Drawdown Indicators

	APLY	ENFR	Difference
Max Drawdown Largest peak-to-trough decline	-30.41%	-68.28%	+37.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	-8.64%	-3.12%
Max Drawdown (3Y) Largest decline over 3 years	-30.41%	-15.58%	-14.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-62.64%	—
Current Drawdown Current decline from peak	-5.80%	-6.04%	+0.24%
Average Drawdown Average peak-to-trough decline	-6.88%	-15.93%	+9.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.73%	3.40%	+1.33%

Volatility

APLY vs. ENFR - Volatility Comparison

YieldMax AAPL Option Income Strategy ETF (APLY) and Alerian Energy Infrastructure ETF (ENFR) have volatilities of 5.52% and 5.68%, 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	ENFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.52%	5.68%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	11.71%	+1.78%
Volatility (1Y) Calculated over the trailing 1-year period	17.96%	14.91%	+3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.92%	19.26%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	24.68%	-3.76%

APLY vs. ENFR - Expense Ratio Comparison

APLY has a 0.99% expense ratio, which is higher than ENFR's 0.35% expense ratio.

Dividends

APLY vs. ENFR - Dividend Comparison

APLY's dividend yield for the trailing twelve months is around 36.55%, more than ENFR's 4.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APLY YieldMax AAPL Option Income Strategy ETF	36.55%	36.38%	24.95%	14.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ENFR Alerian Energy Infrastructure ETF	4.07%	4.77%	4.41%	5.48%	5.23%	7.86%	7.57%	5.81%	3.98%	2.98%	3.31%	3.34%

Frequently Asked Questions

Can I hold both APLY and ENFR in my portfolio?

APLY and ENFR have a correlation of -0.13, 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 ENFR?

ENFR has higher volatility (5.68%) compared to APLY (5.52%). In terms of maximum drawdown, APLY dropped -30.41% vs ENFR's -68.28%.

Which ETF is better, APLY or ENFR?

On 3-year performance, ENFR leads with 28.30% vs 8.86% for APLY. On fees, ENFR is cheaper at 0.35% per year. On volatility, APLY has been the lower-risk option at 5.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APLY or ENFR?

Over the 3-year period, ENFR has performed better with a 28.30% return vs 8.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APLY or ENFR?

ENFR is cheaper with a 0.35% expense ratio, compared with 0.99% for APLY.

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

APLY has the higher dividend yield at 36.55%, compared with 4.07% for ENFR.

What is the main difference between APLY and ENFR?

APLY is categorized as Options Trading, while ENFR is Energy Equities. They also come from different issuers: YieldMax and SS&C. Their fees differ too: 0.99% for APLY and 0.35% for ENFR.

Which has better risk-adjusted returns?

APLY currently has the higher Sharpe Ratio (1.78 vs 1.69), 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.