PUTW vs. ADME

Last updated Aug 1, 2026

PUTW (WisdomTree PutWrite Strategy Fund) and ADME (Aptus Drawdown Managed Equity ETF) are both exchange-traded funds - PUTW is a Derivative Income fund tracking the Volos U.S. Large Cap Target 2.5% PutWrite Index, while ADME is a Equity Hedged fund tracking the Aptus Behavioral Momentum Index. Both are passively managed. Their 0.64 correlation means they have sometimes moved together and sometimes differently. PUTW charges 0.44%/yr vs 0.79%/yr for ADME.

Performance

PUTW vs. ADME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree PutWrite Strategy Fund (PUTW) and Aptus Drawdown Managed Equity ETF (ADME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PUTW

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

ADME

• 1D: 0.63%
• 1M: -0.36%
• 6M: 6.23%
• YTD: 7.79%
• 1Y: 14.94%
• 3Y*: 14.51%
• 5Y*: 6.93%
• 10Y*: 8.52%
• ALL TIME*: 8.74%

*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)
ADME Aptus Drawdown Managed Equity ETF	$772.09K	$556.48K	$715.52K

PUTW vs. ADME - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PUTW WisdomTree PutWrite Strategy Fund	0.00%	-2.80%	17.19%	14.01%	-11.11%	20.92%	1.67%	13.55%	-8.07%	9.88%
ADME Aptus Drawdown Managed Equity ETF	7.79%	10.28%	22.11%	15.42%	-21.80%	20.24%	18.21%	9.31%	-6.05%	17.58%

Correlation

The correlation between PUTW and ADME is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (10Y) Provides a long-term view across more market conditions.	0.64
Correlation (All Time) Calculated using the full available price history since Jun 9, 2016	0.64

The correlation between PUTW and ADME has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.

Return for Risk

PUTW vs. ADME — Risk / Return Rank

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

PUTW

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

ADME

ADME Risk / Return Rank: 51
ADME Sharpe Ratio Rank: 50
ADME Sortino Ratio Rank: 49
ADME Omega Ratio Rank: 47
ADME Calmar Ratio Rank: 50
ADME Martin Ratio Rank: 57

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.

PUTW vs. ADME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree PutWrite Strategy Fund (PUTW) and Aptus Drawdown Managed Equity ETF (ADME). 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.

	PUTW	ADME	Difference
Sharpe ratio: Return per unit of total volatility	—	1.21	—
Sortino ratio: Return per unit of downside risk	—	1.74	—
Omega ratio: Gain probability vs. loss probability	—	1.21	—
Calmar ratio: Return relative to maximum drawdown	—	1.79	—
Martin ratio: Return relative to average drawdown	—	6.77	—

Drawdowns

Drawdown Indicators

	PUTW	ADME	Difference
Max Drawdown Largest peak-to-trough decline	—	-27.49%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-7.49%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.67%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.49%	—
Current Drawdown Current decline from peak	—	-2.55%	—
Average Drawdown Average peak-to-trough decline	—	-7.83%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.98%	—

Volatility

Volatility by Period

	PUTW	ADME	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	11.07%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	13.03%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	14.45%	—

PUTW vs. ADME - Expense Ratio Comparison

PUTW has a 0.44% expense ratio, which is lower than ADME's 0.79% expense ratio.

Dividends

PUTW vs. ADME - Dividend Comparison

PUTW has not paid dividends to shareholders, while ADME's dividend yield for the trailing twelve months is around 0.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ADME Aptus Drawdown Managed Equity ETF	0.36%	0.38%	0.47%	0.78%	0.73%	0.26%	0.41%	0.70%	0.86%	0.32%	0.69%
PUTW WisdomTree PutWrite Strategy Fund	0.00%	4.16%	11.99%	7.63%	2.16%	0.00%	1.43%	1.47%	5.49%	3.33%	2.27%

Frequently Asked Questions

Can I hold both PUTW and ADME in my portfolio?

PUTW and ADME have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PUTW or ADME?

On fees, PUTW is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PUTW or ADME?

PUTW is cheaper with a 0.44% expense ratio, compared with 0.79% for ADME.

Which ETF pays a higher dividend yield, PUTW or ADME?

ADME has the higher dividend yield at 0.36%, compared with 0.00% for PUTW.

What is the main difference between PUTW and ADME?

PUTW is categorized as Derivative Income, while ADME is Equity Hedged. PUTW tracks Volos U.S. Large Cap Target 2.5% PutWrite Index, while ADME tracks Aptus Behavioral Momentum Index. They also come from different issuers: WisdomTree and Aptus. Their fees differ too: 0.44% for PUTW and 0.79% for ADME.