SQY vs. APLY

Last updated Jun 24, 2026

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

Performance

SQY vs. APLY - Performance Comparison

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

Returns By Period

SQY

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

APLY

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

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

Return for Risk

SQY vs. APLY — Risk / Return Rank

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

SQY

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

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

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.

SQY vs. APLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax SQ Option Income Strategy ETF (SQY) and YieldMax AAPL Option Income Strategy ETF (APLY). 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.

	SQY	APLY	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

	SQY	APLY	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

	SQY	APLY	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%	—

SQY vs. APLY - Expense Ratio Comparison

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

Dividends

SQY vs. APLY - Dividend Comparison

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

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, SQY or APLY?

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, SQY or APLY?

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

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

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

What is the main difference between SQY and APLY?

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