AAPW vs NFLW

AAPWBRoundhill AAPL WeeklyPay ETF

NFLWCRoundhill NFLX WeeklyPay ETF

In short

AAPW Most leveraged single-stock funds reset daily. AAPW resets on the calendar week, targeting 1.2x Apple's weekly total return before fees, and cuts a distribution check every week. Cost: 1.00%, no waiver.

NFLW A Netflix trade with a paycheck attached: NFLW targets 1.2 times NFLX's calendar-week total return and pays out weekly, resetting leverage at each week's close rather than daily. Fee: 1.00%, no waiver.

Stated mandate

AAPW AAPW seeks income and growth by making weekly distributions while targeting 1.2 times the calendar-week total return of Apple common shares, before fees and expenses.

NFLW NFLW seeks weekly distributions and calendar-week returns, before fees and expenses, equal to 1.2 times the calendar-week total return of Netflix common shares.

Why people hold it

• AAPW Leverage dialed down, not up: 120% of Apple's calendar-week total return before fees and expenses, with the objective defined over the week and nothing longer.sec.gov
• Paying is the point. The prospectus lists weekly distributions as the primary objective and the 1.2x weekly return as the secondary one, an unusual order of operations.sec.gov
• At 1.00% with no waiver, it sits right alongside its WeeklyPay siblings (AMDW 1.00%, COSW 0.99%) and TSYX at 0.98%, and near the category median fee.
• In a peer group of leveraged single-stock income funds, this ranks among the stronger implementations, hitting its stated weekly target closely.

• NFLW The dial is 1.2x, not 2x or 3x, and exposure resets at the close of the last business day of each calendar week instead of daily.roundhillinvestments.com
• Cash arrives weekly rather than quarterly: the fund expects to pay a distribution every week, which is the whole point of the WeeklyPay wrapper.roundhillinvestments.com
• At 1.00% with no waiver, it matches Roundhill's AAPW and AMDW (both 1.00%) and sits near the category median fee.
• Plain plumbing: NFLX total return swaps plus NFLX shares, at least 80% of net assets, and it has tracked its stated 1.2x weekly target closely since its 2025 launch.sec.gov

Worth knowing

• AAPW The weekly reset is the mechanism and the catch: hold past Friday and your result can drift from 1.2x Apple's move. A single week can take the whole investment.sec.gov
• Distributions can exceed the fund's income and gains. The excess is return of capital, your own money handed back, which reduces net asset value.roundhillinvestments.com
• It is a small fund that trades lightly, and its Apple exposure comes through swaps with a counterparty plus Treasury collateral rather than shares.sec.gov

• NFLW Leverage runs both ways: a bad week for Netflix is amplified by the same 1.2x, and over longer stretches returns can vary in amount and direction from the stated multiple.sec.gov
• By design, the adviser intends all or a significant portion of the weekly payout to be return of capital, which is neither income nor profit and trims your cost basis.sec.govroundhillinvestments.com
• It is a small fund that trades lightly, so spreads can run wide, and buying mid-week leaves you with exposure that differs from 1.2x until the next reset.roundhillinvestments.com

Full AAPW profile⁠

Full NFLW profile⁠