Peerless Option Income Wheel ETF
$19.90−0.11 (−0.55%)
- 1.24%
- $49M
- +14.9%
- 12.74%
- 0M sh
- $19.93
- low $18.98high $23.94
The ETF.net WEEL Grade
D
Score 38 out of 100
- 34 of 51
Score 38 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F17 out of 100Rank 42 of 51Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A80 out of 100Rank 5 of 46Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D35 out of 100Rank 37 of 51Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B56 out of 100Rank 25 of 51
Our read on WEEL
DThe DIY option wheel in a ticker: sell cash-secured puts on sector ETFs, take the shares if assigned, write covered calls, repeat. Launched in 2024, it runs on option premiums rather than dividends.
The actively managed ETF seeks current income by investing in sector-specific ETFs and sometimes individual securities, then applying an option-wheel strategy that writes options on those holdings.
Why people hold it
- Automated wheel: out-of-the-money cash-secured puts on sector ETFs, assignment when they land in the money, then covered calls on what it owns. No rolls for you to manage.peerlessetfs.commutualfunds.com
- Written puts are collateralized with cash or short-term Treasuries, so there is no naked short-option leg.mutualfunds.com
- Sector ETFs, allocated with GICS as the frame, form the base rather than single-name bets.mutualfunds.com
- Peerless frames it as an income path to equity-like returns with less volatility than the major equity indexes.peerlessetfs.com
Worth knowing
- At 0.99% it costs a bit more than the typical options-income fund and well above cheaper peers such as PAPI (0.29%) and DIVO (0.56%).
- Covered calls trim gains above the strike, and while puts sit unassigned the money waits in Treasury bills instead of stocks.mutualfunds.com
- Small fund, light volume, non-diversified: limit orders and a glance at the spread are worth the extra click.aaii.com
WEEL Holdings
- Stocks
- 19
- 84%
- United States Treasury Bill 11/12/2026
Sectors
- Financials22.8%
- Consumer Discretionary15.0%
- Industrials12.7%
- Utilities11.5%
- Technology9.4%
- Real Estate8.7%
- Materials8.2%
- Communication6.0%
- Consumer Staples2.8%
- Health Care2.4%
- Energy0.5%
Geography
- United States100.00%
WEEL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
WEEL$11,489
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | WEEL |
|---|---|
| Year to date | +9.2% |
| 1 month | −0.3% |
| 3 months | +2.8% |
| 1 year | +14.9% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | WEEL |
|---|---|---|
| 2026 YTD | +9.2% | |
| 2025 | +17.7% | |
| 2024 | +3.4% |
WEEL in the news
Category Review
The payout and the result came apart in option-income funds
WEEL Dividends
- 12.74%
- $2.55
- $0.60 per share
- Quarterly
Distribution history
WEEL Risk
- 7.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.04
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −17.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.68
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
WEEL Cost
1.24%
WEEL1.24%
- The middle half of Active Option Income funds
- Median 0.95%
41 of the 51 Active Option Income funds charge less.
Other funds in Active Option Income
- CEGGQNestYield Visionary ETFExpense ratio 0.95%1 year return +14.7%
- DUSOYOil Enhanced Options Income ETFExpense ratio 1.12%1 year return +71.3%
- DFIXPFolioBeyond Enhanced Fixed Income Premium ETFExpense ratio 1.03%1 year return +2.7%
- DMINYYieldMax Strategic Metals & Mining Portfolio Option Income ETFExpense ratio 1.01%1 year return —
- DULTYYieldMax Ultra Option Income Strategy ETFExpense ratio 1.40%1 year return −4.5%