APLY vs. SQY

Last updated Jun 24, 2026

APLY (YieldMax AAPL Option Income Strategy ETF) and SQY (YieldMax SQ Option Income Strategy ETF) are both exchange-traded funds - APLY is a Options Trading fund actively managed by YieldMax, while SQY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. APLY charges 0.99%/yr vs 1.01%/yr for SQY.

Performance

APLY vs. SQY - Performance Comparison

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

Returns By Period

APLY

• 1D: -0.56%
• 1M: -4.43%
• YTD: 4.06%
• 6M: 3.68%
• 1Y: 30.98%
• 3Y*: 8.87%
• 5Y*: —
• 10Y*: —

SQY

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

APLY vs. SQY — Risk / Return Rank

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

APLY

APLY Risk / Return Rank: 52
APLY Sharpe Ratio Rank: 53
APLY Sortino Ratio Rank: 52
APLY Omega Ratio Rank: 54
APLY Calmar Ratio Rank: 56
APLY Martin Ratio Rank: 43

SQY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AAPL Option Income Strategy ETF (APLY) and YieldMax SQ Option Income Strategy ETF (SQY). 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	SQY	Difference
Sharpe ratio: Return per unit of total volatility	1.73	—	—
Sortino ratio: Return per unit of downside risk	2.42	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.65	—	—
Martin ratio: Return relative to average drawdown	6.59	—	—

Drawdowns

Drawdown Indicators

	APLY	SQY	Difference
Max Drawdown Largest peak-to-trough decline	-30.41%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.41%	—	—
Current Drawdown Current decline from peak	-5.78%	—	—
Average Drawdown Average peak-to-trough decline	-6.88%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	—	—

Volatility

Volatility by Period

	APLY	SQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.97%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.93%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.93%	—	—

APLY vs. SQY - Expense Ratio Comparison

APLY has a 0.99% expense ratio, which is lower than SQY's 1.01% expense ratio.

Dividends

APLY vs. SQY - Dividend Comparison

APLY's dividend yield for the trailing twelve months is around 36.54%, while SQY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
APLY YieldMax AAPL Option Income Strategy ETF	36.54%	36.38%	24.95%	14.36%
SQY YieldMax SQ Option Income Strategy ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, APLY or SQY?

On fees, APLY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APLY or SQY?

APLY is cheaper with a 0.99% expense ratio, compared with 1.01% for SQY.

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

APLY has the higher dividend yield at 36.54%, compared with 0.00% for SQY.

What is the main difference between APLY and SQY?

APLY is categorized as Options Trading, while SQY is Derivative Income. Their fees differ too: 0.99% for APLY and 1.01% for SQY.