AAPY vs WMTI

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

WMTIBREX WMT Growth & Income ETF

In short

AAPY Apple income without slamming the brakes on upside: AAPY builds its Apple exposure with options, sells calls above the market rather than at it, and pays monthly. Fee is 0.99% net of a waiver through September 30, 2027 (1.15% gross).

WMTI Walmart, wired into an options income engine. WMTI takes synthetic leveraged exposure to WMT (1.05x to 1.5x) and writes calls on only about half of it, so income flows in while part of the position stays uncapped.

Stated mandate

AAPY The Fund seeks current income while providing exposure to Apple Inc.'s share price, with potential gains limited by its options strategy.

WMTI The Fund primarily seeks current income and secondarily seeks exposure to select U.S.-listed securities, with potential investment gains limited.

Why people hold it

• AAPY The calls it sells sit out of the money, and the prospectus allows buying higher-strike calls and put spreads, a toolkit aimed at keeping some room above the sold strike.sec.govsec.gov 2
• 0.99% net of a waiver through September 30, 2027 (1.15% gross) comes in under APLY, the other Apple options-income ETF, at 1.04%.
• Collateral sits in Treasury bills, income is paid monthly, and the portfolio matches what the filings describe.sec.gov
• One of the stronger builds in a crowded field of single-stock options-income funds.

• WMTI Half the leveraged exposure stays uncovered, leaving part of Walmart's move open instead of selling the whole book away like a traditional full-cover call fund.rexshares.com
• Fully synthetic build: swaps and options replicate Walmart's economics without holding the shares, with out-of-the-money calls sold on roughly half the notional to fund income.rexshares.com
• A 0.99% expense ratio sits under the median for its single-stock options-income cohort, and the overall implementation ranks among the stronger ones in that crowded group.

Worth knowing

• AAPY Apple's full downside comes through the synthetic long position, while share-price gains are limited by the options strategy.sec.gov
• Monthly payouts can include return of capital, meaning part of a distribution may be your own money coming back.kurvinvest.com
• Small fund that trades thinly, so spreads can be wider than a mega-ETF's and large orders can move the price.

• WMTI Calls written on about half the notional hand over gains above the strike; the fund's own objective says potential investment gains are limited.rexshares.com
• Leverage cuts both ways: 1.05x to 1.5x exposure amplifies Walmart's down days, and the whole fund rides on one non-diversified name.rexshares.com
• Launched in November 2025, so the track record is short and the fund trades lightly, which can mean wider spreads than category heavyweights.

Full AAPY profile⁠

Full WMTI profile⁠