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Launched

Peerless Option Income Wheel ETF

WEELNYSE ArcaC

$19.58+0.03 (+0.15%)

At close: Nov 2, 2026, 4:00 PM ET

C44/ 100

Rank 26 of 51 in Active Option Income

C44/100Rank 26 of 51inActive Option Income
Intraday session: up, 79 prints from 19.55 to 19.58. Range 19.58 to 19.77. Use the arrow keys to read each point.19.6519.7019.7510 AM12 PM2 PM4 PM
Expense ratio
0.99%*
Fund size
$50M
1Y total return
+9.2%
Yield · Last 12 months
13.04%
Holdings
20
Avg volume · 30D
21.7K sh
52W range
low $18.98high $23.94
Launched

*After a fee waiver that ends Jul 30, 2027. Without it: 1.25%.

The ETF.net WEEL Grade

Based on 5 of 6 pillars

C

Score 44 out of 100

Category
Active Option Income⁠
Rank
26 of 51
Six-pillar profile for WEEL. Scores out of 100: Cost 39, Risk 74, Mission not scored, Tradability 38, Holdings 22, Durability 57. Strongest: Risk (74). Weakest: Holdings (22). Based on 5 of 6 pillars.

Score 44 of 100 falls in the C 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.
    D39 out of 100
    Rank 30 of 51

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A74 out of 100
    Rank 7 of 48

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D38 out of 100
    Rank 37 of 51

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F22 out of 100
    Rank 42 of 43

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B57 out of 100
    Rank 23 of 51

Our read on WEEL

ETF.net Research

In short

CThe 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.

Stated mandate

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 Performance

Launched May 16, 2024

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$10,915
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. WEEL $10,915. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for WEEL. Periods over one year show the average yearly return.
PeriodWEEL
Year to date+6.7%
1 month−1.3%
3 months+0.5%
1 year+9.2%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for WEEL
YearReturn barWEEL
2026 YTD+6.7%
2025+17.7%
2024+3.4%

Since listing, May 16, 2024

WEEL in the news

WEEL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
13.04%Last 12 months
Payout per share
$2.55Last 12 months
Last payment
$0.60 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 9 payments from 2024 to 2026 YTD. Sep 25, 2024 $0.60; Dec 27, 2024 $0.73; Mar 27, 2025 $0.60; Jun 26, 2025 $0.60; Sep 25, 2025 $0.60; Dec 30, 2025 $0.75; Mar 26, 2026 $0.60; Jun 25, 2026 $0.60; Sep 24, 2026 $0.60. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Sep 24, 2026Sep 25, 2026$0.60
Jun 25, 2026Jun 26, 2026$0.60
Mar 26, 2026Mar 27, 2026$0.60
Dec 30, 2025Dec 31, 2025$0.75
Sep 25, 2025Sep 26, 2025$0.60
Jun 26, 2025Jun 27, 2025$0.60
Mar 27, 2025Mar 28, 2025$0.60
Dec 27, 2024Dec 30, 2024$0.73
Sep 25, 2024Sep 26, 2024$0.60

$10,000 in WEEL 1 year ago paid $1,254 in dividends.

WEEL Risk

Risk pillarA74 out of 100Rank 7 of 48 in Active Option Income
How much the fund’s monthly returns vary, scaled to a year.
7.5%
Annualised · 29 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.91
vs 3-month T-bills · 29 months to Oct 2026
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.

The largest fall from a peak to the low that followed.
−17.4%
29 months · trough Apr 2025
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.

How strongly the fund’s returns move with its asset-class index.
0.68
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

WEEL Cost

Compare WEEL and RECI

Overpaying vs RECI, cheapest in Active Option Income

$12,376

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • WEEL 0.99%

    $18,525

  • RECI 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • WEEL 0.99%
  • RECI 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530WEEL $18,525RECI $6,149

Year by year

YearWEELRECIOverpaying
10$1,746$545$1,201
20$6,565$2,113$4,452
30$18,525$6,149$12,376
How the 0.99% is worked out

Full fee 1.25%− waiver 0.26%= you pay 0.99%

The waiver ends Jul 30, 2027. After that the fee is 1.25% unless Peerless renews it. Source: prospectus, Jul 2026.

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