RWL vs. WEEL

Last updated Jun 4, 2026

RWL (Invesco S&P 500 Revenue ETF) and WEEL (Peerless Option Income Wheel ETF) are both exchange-traded funds - RWL is a S&P 500 fund tracking the S&P 500 Revenue-Weighted Index, while WEEL is a Derivative Income fund actively managed by Peerless ETFs. RWL is passively managed, while WEEL is actively managed. Over the past year, RWL returned 26.76% vs 20.16% for WEEL. A 0.68 correlation means they provide meaningful diversification when combined. RWL charges 0.39%/yr vs 0.99%/yr for WEEL.

Performance

RWL vs. WEEL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Revenue ETF (RWL) 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, RWL achieves a 11.07% return, which is significantly higher than WEEL's 5.22% return.

RWL

• 1D: -0.42%
• 1M: 3.13%
• YTD: 11.07%
• 6M: 11.66%
• 1Y: 26.76%
• 3Y*: 19.96%
• 5Y*: 12.89%
• 10Y*: 13.96%

WEEL

• 1D: -0.40%
• 1M: 0.96%
• YTD: 5.22%
• 6M: 5.75%
• 1Y: 20.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RWL vs. WEEL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RWL Invesco S&P 500 Revenue ETF	11.07%	18.65%	6.43%
WEEL Peerless Option Income Wheel ETF	5.22%	17.73%	3.33%

Correlation

The correlation between RWL and WEEL is 0.62, 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	0.62
Correlation (All Time) Calculated using the full available price history since May 17, 2024	0.68

The correlation between RWL and WEEL has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.

RWL vs. WEEL - Sectors Allocation Comparison

Sectors	RWL	WEEL
Healthcare	19.5%	16.8%
Financial Services	15.4%	4.0%
Technology	13.7%	15.5%
Consumer Cyclical	12.3%	20.3%
Consumer Defensive	11.1%	2.2%
Industrials	8.6%	3.7%
Communication Services	7.5%	13.8%
Energy	6.6%	5.6%
Utilities	2.4%	0.2%
Basic Materials	2.1%	16.7%
Real Estate	0.9%	1.1%

Return for Risk

RWL vs. WEEL — Risk / Return Rank

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

RWL

RWL Risk / Return Rank: 81
RWL Sharpe Ratio Rank: 81
RWL Sortino Ratio Rank: 82
RWL Omega Ratio Rank: 79
RWL Calmar Ratio Rank: 78
RWL Martin Ratio Rank: 83

WEEL

WEEL Risk / Return Rank: 84
WEEL Sharpe Ratio Rank: 78
WEEL Sortino Ratio Rank: 86
WEEL Omega Ratio Rank: 85
WEEL Calmar Ratio Rank: 82
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.

RWL vs. WEEL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Revenue ETF (RWL) 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.

	RWL	WEEL	Difference
Sharpe ratio: Return per unit of total volatility	2.69	2.54	+0.15
Sortino ratio: Return per unit of downside risk	3.76	3.93	-0.17
Omega ratio: Gain probability vs. loss probability	1.48	1.52	-0.04
Calmar ratio: Return relative to maximum drawdown	4.05	4.40	-0.35
Martin ratio: Return relative to average drawdown	17.12	21.37	-4.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWL vs. WEEL - Sharpe Ratio Comparison

The current RWL Sharpe Ratio is 2.69, which is comparable to the WEEL Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of RWL 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.

Sharpe Ratios by Period

	RWL	WEEL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.54	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.01	-0.43

Drawdowns

RWL vs. WEEL - Drawdown Comparison

The maximum RWL drawdown since its inception was -54.83%, which is greater than WEEL's maximum drawdown of -17.45%. Use the drawdown chart below to compare losses from any high point for RWL and WEEL.

Drawdown Indicators

	RWL	WEEL	Difference
Max Drawdown Largest peak-to-trough decline	-54.83%	-17.45%	-37.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.64%	-4.60%	-2.04%
Max Drawdown (3Y) Largest decline over 3 years	-14.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.04%	—	—
Current Drawdown Current decline from peak	-0.57%	-0.40%	-0.17%
Average Drawdown Average peak-to-trough decline	-6.45%	-1.45%	-5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	0.95%	+0.62%

Volatility

RWL vs. WEEL - Volatility Comparison

Invesco S&P 500 Revenue ETF (RWL) has a higher volatility of 2.12% compared to Peerless Option Income Wheel ETF (WEEL) at 1.85%. This indicates that RWL's price experiences larger fluctuations and is considered to be riskier than WEEL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWL	WEEL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	1.85%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	5.83%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	10.00%	8.01%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	12.84%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	12.84%	+4.02%

RWL vs. WEEL - Expense Ratio Comparison

RWL has a 0.39% expense ratio, which is lower than WEEL's 0.99% expense ratio.

Dividends

RWL vs. WEEL - Dividend Comparison

RWL's dividend yield for the trailing twelve months is around 1.25%, less than WEEL's 12.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWL Invesco S&P 500 Revenue ETF	1.25%	1.35%	1.43%	1.60%	1.62%	1.35%	1.75%	1.87%	1.99%	1.60%	1.71%	1.97%
WEEL Peerless Option Income Wheel ETF	12.46%	12.72%	6.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RWL and WEEL in my portfolio?

RWL and WEEL have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWL or WEEL?

RWL has higher volatility (2.12%) compared to WEEL (1.85%). In terms of maximum drawdown, RWL dropped -54.83% vs WEEL's -17.45%.

Which ETF is better, RWL or WEEL?

On 1-year performance, RWL leads with 26.76% vs 20.16% for WEEL. On fees, RWL is cheaper at 0.39% per year. On volatility, WEEL has been the lower-risk option at 1.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWL or WEEL?

Over the 1-year period, RWL has performed better with a 26.76% return vs 20.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWL or WEEL?

RWL is cheaper with a 0.39% expense ratio, compared with 0.99% for WEEL.

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

WEEL has the higher dividend yield at 12.46%, compared with 1.25% for RWL.

What is the main difference between RWL and WEEL?

RWL is categorized as S&P 500, while WEEL is Derivative Income. They also come from different issuers: Invesco and Peerless ETFs. Their fees differ too: 0.39% for RWL and 0.99% for WEEL.

Which has better risk-adjusted returns?

RWL currently has the higher Sharpe Ratio (2.69 vs 2.54), 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.