WEEL vs. BUYW

Last updated Jun 4, 2026

WEEL (Peerless Option Income Wheel ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, WEEL returned 20.16% vs 9.76% for BUYW. A 0.57 correlation means they provide meaningful diversification when combined. WEEL charges 0.99%/yr vs 1.29%/yr for BUYW.

Performance

WEEL vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Peerless Option Income Wheel ETF (WEEL) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEEL achieves a 5.22% return, which is significantly higher than BUYW's 3.39% return.

WEEL

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

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

WEEL vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WEEL Peerless Option Income Wheel ETF	5.22%	17.73%	3.33%
BUYW Main Buywrite ETF	3.39%	9.08%	5.15%

Correlation

The correlation between WEEL and BUYW is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since May 17, 2024	0.57

The correlation between WEEL and BUYW shifts across timeframes, from 0.45 (1 year) to 0.57 (all time), reflecting how their relationship changes across market environments.

WEEL vs. BUYW - Sectors Allocation Comparison

Sectors	WEEL	BUYW
Consumer Cyclical	20.3%	6.4%
Healthcare	16.8%	13.0%
Basic Materials	16.7%	1.0%
Technology	15.5%	24.0%
Communication Services	13.8%	16.9%
Energy	5.6%	13.6%
Financial Services	4.0%	15.3%
Industrials	3.7%	4.4%
Consumer Defensive	2.2%	3.2%
Real Estate	1.1%	1.0%
Utilities	0.2%	1.3%

Return for Risk

WEEL vs. BUYW — Risk / Return Rank

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

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

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

WEEL vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Peerless Option Income Wheel ETF (WEEL) and Main Buywrite ETF (BUYW). 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.

	WEEL	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.03	+0.51
Sortino ratio: Return per unit of downside risk	3.93	3.08	+0.85
Omega ratio: Gain probability vs. loss probability	1.52	1.40	+0.11
Calmar ratio: Return relative to maximum drawdown	4.40	3.79	+0.61
Martin ratio: Return relative to average drawdown	21.37	20.24	+1.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WEEL vs. BUYW - Sharpe Ratio Comparison

The current WEEL Sharpe Ratio is 2.54, which is comparable to the BUYW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of WEEL and BUYW, 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

	WEEL	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.03	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	1.17	-0.16

Drawdowns

WEEL vs. BUYW - Drawdown Comparison

The maximum WEEL drawdown since its inception was -17.45%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for WEEL and BUYW.

Drawdown Indicators

	WEEL	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-17.45%	-9.36%	-8.09%
Max Drawdown (1Y) Largest decline over 1 year	-4.60%	-2.59%	-2.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-0.40%	-0.21%	-0.19%
Average Drawdown Average peak-to-trough decline	-1.45%	-0.61%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.48%	+0.47%

Volatility

WEEL vs. BUYW - Volatility Comparison

Peerless Option Income Wheel ETF (WEEL) has a higher volatility of 1.85% compared to Main Buywrite ETF (BUYW) at 1.02%. This indicates that WEEL's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEEL	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.85%	1.02%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	5.83%	4.03%	+1.80%
Volatility (1Y) Calculated over the trailing 1-year period	8.01%	4.85%	+3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	8.47%	+4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.84%	8.47%	+4.37%

WEEL vs. BUYW - Expense Ratio Comparison

WEEL has a 0.99% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

WEEL vs. BUYW - Dividend Comparison

WEEL's dividend yield for the trailing twelve months is around 12.46%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
WEEL Peerless Option Income Wheel ETF	12.46%	12.72%	6.88%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WEEL and BUYW in my portfolio?

WEEL and BUYW have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEEL or BUYW?

WEEL has higher volatility (1.85%) compared to BUYW (1.02%). In terms of maximum drawdown, WEEL dropped -17.45% vs BUYW's -9.36%.

Which ETF is better, WEEL or BUYW?

On 1-year performance, WEEL leads with 20.16% vs 9.76% for BUYW. On fees, WEEL is cheaper at 0.99% per year. On volatility, BUYW has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEEL or BUYW?

Over the 1-year period, WEEL has performed better with a 20.16% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEEL or BUYW?

WEEL is cheaper with a 0.99% expense ratio, compared with 1.29% for BUYW.

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

WEEL has the higher dividend yield at 12.46%, compared with 5.91% for BUYW.

What is the main difference between WEEL and BUYW?

They also come from different issuers: Peerless ETFs and Main Funds. Their fees differ too: 0.99% for WEEL and 1.29% for BUYW.

Which has better risk-adjusted returns?

WEEL currently has the higher Sharpe Ratio (2.54 vs 2.03), 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.