FTKI vs. WEEL

Last updated Jul 16, 2026

FTKI (First Trust Small Cap BuyWrite Income ETF) and WEEL (Peerless Option Income Wheel ETF) are both Derivative Income funds. Both are actively managed. Over the past year, FTKI returned 21.75% vs 16.83% for WEEL. A 0.66 correlation means they provide meaningful diversification when combined. FTKI charges 0.85%/yr vs 0.99%/yr for WEEL.

Performance

FTKI vs. WEEL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap BuyWrite Income ETF (FTKI) and Peerless Option Income Wheel ETF (WEEL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTKI achieves a 13.33% return, which is significantly higher than WEEL's 6.61% return.

FTKI

• 1D: 0.04%
• 1M: 1.78%
• 6M: 11.92%
• YTD: 13.33%
• 1Y: 21.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WEEL

• 1D: 0.54%
• 1M: 0.62%
• 6M: 5.25%
• YTD: 6.61%
• 1Y: 16.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTKI vs. WEEL - Yearly Performance Comparison

	2026 (YTD)	2025
FTKI First Trust Small Cap BuyWrite Income ETF	13.33%	4.33%
WEEL Peerless Option Income Wheel ETF	6.61%	14.76%

Correlation

The correlation between FTKI and WEEL is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (All Time) Calculated using the full available price history since Feb 27, 2025	0.66

The correlation between FTKI and WEEL has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

FTKI vs. WEEL - Sectors Allocation Comparison

Sectors	FTKI	WEEL
Financial Services	18.6%	23.3%
Consumer Cyclical	13.8%	12.6%
Industrials	13.8%	2.6%
Technology	13.8%	11.6%
Healthcare	13.1%	17.2%
Energy	7.6%	2.8%
Real Estate	7.6%	4.5%
Basic Materials	4.8%	9.4%
Communication Services	3.4%	5.5%
Consumer Defensive	1.4%	2.0%
Utilities	1.4%	8.5%

Return for Risk

FTKI vs. WEEL — Risk / Return Rank

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

FTKI

FTKI Risk / Return Rank: 85
FTKI Sharpe Ratio Rank: 85
FTKI Sortino Ratio Rank: 86
FTKI Omega Ratio Rank: 85
FTKI Calmar Ratio Rank: 87
FTKI Martin Ratio Rank: 83

WEEL

WEEL Risk / Return Rank: 85
WEEL Sharpe Ratio Rank: 79
WEEL Sortino Ratio Rank: 85
WEEL Omega Ratio Rank: 84
WEEL Calmar Ratio Rank: 84
WEEL Martin Ratio Rank: 91

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.

FTKI vs. WEEL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap BuyWrite Income ETF (FTKI) and Peerless Option Income Wheel ETF (WEEL). 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.

	FTKI	WEEL	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.01	+0.18
Sortino ratio: Return per unit of downside risk	3.14	3.08	+0.06
Omega ratio: Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	3.93	3.67	+0.25
Martin ratio: Return relative to average drawdown	13.16	16.71	-3.55

FTKI vs. WEEL - Sharpe Ratio Comparison

The current FTKI Sharpe Ratio is 2.19, which is comparable to the WEEL Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of FTKI and WEEL, 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

FTKI vs. WEEL - Drawdown Comparison

The maximum FTKI drawdown since its inception was -15.17%, smaller than the maximum WEEL drawdown of -17.45%. Use the drawdown chart below to compare losses from any high point for FTKI and WEEL.

Drawdown Indicators

	FTKI	WEEL	Difference
Max Drawdown Largest peak-to-trough decline	-15.17%	-17.45%	+2.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	-4.60%	-0.96%
Current Drawdown Current decline from peak	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-2.42%	-1.42%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	1.01%	+0.65%

Volatility

FTKI vs. WEEL - Volatility Comparison

The current volatility for First Trust Small Cap BuyWrite Income ETF (FTKI) is 2.20%, while Peerless Option Income Wheel ETF (WEEL) has a volatility of 2.85%. This indicates that FTKI experiences smaller price fluctuations and is considered to be less risky than WEEL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTKI	WEEL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	2.85%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	7.57%	6.70%	+0.87%
Volatility (1Y) Calculated over the trailing 1-year period	9.98%	8.43%	+1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.88%	12.72%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	12.72%	+2.16%

FTKI vs. WEEL - Expense Ratio Comparison

FTKI has a 0.85% expense ratio, which is lower than WEEL's 0.99% expense ratio.

Dividends

FTKI vs. WEEL - Dividend Comparison

FTKI's dividend yield for the trailing twelve months is around 11.23%, less than WEEL's 12.67% yield.

Position	TTM	2025	2024
FTKI First Trust Small Cap BuyWrite Income ETF	11.23%	8.99%	0.00%
WEEL Peerless Option Income Wheel ETF	12.67%	12.72%	6.88%

Frequently Asked Questions

Can I hold both FTKI and WEEL in my portfolio?

FTKI and WEEL have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTKI or WEEL?

WEEL has higher volatility (2.85%) compared to FTKI (2.20%). In terms of maximum drawdown, FTKI dropped -15.17% vs WEEL's -17.45%.

Which ETF is better, FTKI or WEEL?

On 1-year performance, FTKI leads with 21.75% vs 16.83% for WEEL. On fees, FTKI is cheaper at 0.85% per year. On volatility, FTKI has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTKI or WEEL?

Over the 1-year period, FTKI has performed better with a 21.75% return vs 16.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTKI or WEEL?

FTKI is cheaper with a 0.85% expense ratio, compared with 0.99% for WEEL.

Which ETF pays a higher dividend yield, FTKI or WEEL?

WEEL has the higher dividend yield at 12.67%, compared with 11.23% for FTKI.

What is the main difference between FTKI and WEEL?

They also come from different issuers: First Trust and Peerless ETFs. Their fees differ too: 0.85% for FTKI and 0.99% for WEEL.

Which has better risk-adjusted returns?

FTKI currently has the higher Sharpe Ratio (2.19 vs 2.01), 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.