AAPY vs XXV: Grades, Fees and Holdings Compared

Kurv Yield Premium Strategy Apple (AAPL) ETF

AAPYACboe

Simplify Ancorato Target 25 Distribution ETF

XXVANYSE Arca

Overlap

0.0%by weight

Expense ratio

XXV −0.21pt a year

AAPY0.99%XXV0.78%

Avg volume · 30D

XXV 5.4×the volume

AAPY5.85KXXV31.8K

AAPY vs XXV Performance

Dec 31, 2025 – Oct 30, 2026

+25.8%AAPY+3.5%XXV

Expense ratio: AAPY 0.99%; XXV 0.78%, better
Fund size: AAPY $8M; XXV $51M
1Y total return: AAPY +28.3%; XXV No data
Yield (12M): AAPY 10.78%; XXV No data
Holdings: AAPY 6; XXV 6
Avg volume (30D): AAPY 5.85K sh; XXV 31.8K sh, better
NAV per share: AAPY $28.39; XXV $21.35
52W range

ETF.net Grade

Pillar letters and Scores for AAPY, XXV, with each pillar’s weight
Pillar	AAPY	XXV
Cost30% weight	A77	A97Higher
Mission25% weight	A100	Not scored
Risk15% weight	A77	A86Higher
Tradability15% weight	B63	B64Higher
Holdings10% weight	D35	A70Higher
Durability5% weight	B56	B65Higher

Rank among Single-Stock Option Income funds

How we build Categories ›

Same Category. AAPY and XXV are both graded against the same 71 Single-Stock Option Income funds, so their Grades compare head to head.

Single-Stock Option Income⁠

Category · 71 funds

See all 71 ›

XXV ranks 3rd and AAPY 4th of 71 funds in the Single-Stock Option Income Category.

Rank 1AKWINKraneShares Wahed Alternative Income Index ETFScore 87
Rank 2AACYQFT Vest Autocallable Barrier & High Income ETFScore 85
Rank 3AXXVSimplify Ancorato Target 25 Distribution ETFScore 84
Rank 4AAAPYKurv Yield Premium Strategy Apple (AAPL) ETFScore 79
Rank 5BBRKCYieldMax BRK.B Option Income Strategy ETFScore 70

Our read on each fund

ETF.net Research

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

XXVASimplify Ancorato Target 25 Distribution 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).

XXV Structured-note income without the bank. XXV sells barrier put options on single stocks, and sometimes worst-of baskets, chasing an aspirational 25% annualized payout, with the options rolled continuously. The top rung of Simplify's barrier-income ladder.

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.

XXV XXV seeks high monthly income through selling barrier put options referencing individual stocks, with possible use of worst-of baskets of individual stocks. Its 25% annualized distribution goal is aspirational and not guaranteed.

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.gov sec.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.

XXV 0.85% a year sits below the going rate in its single-stock options-income cohort, where peers like BRKC and TSMY run near 1%.
Options are rolled automatically and continuously, and the ETF wrapper strips out the bank credit risk you take on with a traditional structured note.simplify.us simplify.us 2
Built around cash flow: barriers are adjusted to levels designed to support a 25% annualized distribution target, paid monthly.simplify.us
Sub-advised by Ancorato Capital, a structured-products specialist, and one of the stronger implementations in a crowded options-income field.simplify.us

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.

XXV Barriers cushion, they do not erase. Selling puts on single stocks means the fund wears the loss when a reference name breaks through its barrier.simplify.us
The 25% figure is an aspirational goal, not a promise, and distributions may include return of capital, which is your own money coming back.
Launched in late 2025 and thinly traded, so bid-ask spreads can cost more than the expense ratio on the way in and out.

Full AAPY profile⁠

Full XXV profile⁠

AAPY vs XXV Holdings

How AAPY and XXV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AAPY and 0.0% of XXV.

Level by level

Holdings0 in both0.0%
Asset classEquity100%
Countryby domicile100%

Sector

No Sector split for AAPY and XXV.

Country, concentration and asset class

Country by domicile

Country weights in AAPY and XXV, widest gap first
Country	More in AAPYMore in XXV	AAPY	XXV
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

AAPY101.0%
XXV118.0%

Securities held

AAPY6
XXV5

Asset class

AAPY: Equity
XXV: Equity

Holdings

Only in AAPY6
In both0
Only in XXV5

Only in AAPY

6 securities, 100% of AAPY by weight

United States Treasury Bill 03/18/202729.73%
United States Treasury Bill 12/24/202627.52%
United States Treasury Bill 06/10/202726.99%
Aapl 12/18/2026 310 C11.01%
Aapl 12/18/2026 220 C4.91%
Fidelity Inv Mmkt Govt-I 12/31/20310.82%

Only in XXV

5 securities, 100% of XXV by weight

Simplify E Govt Money Mkt Etf59.12%
B 1/28/27 Govt29.22%
B 3/11/27 Govt19.24%
B 12/31/26 Govt7.51%
B 12/3/26 Govt2.50%

Weight gaps

AAPY and XXV share no securities.

All 9 AAPY holdings⁠All XXV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AAPY vs XXV Cost

Overpaying AAPY vs XXV

$3,523

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

AAPY 0.99%
$18,525
XXV 0.78%
$15,002

Amount$10,000

Years30 years

Cost over time

AAPY 0.99%
XXV 0.78%
Overpaying

Year by year

Year	AAPY	XXV	Overpaying
10	$1,746	$1,388	$358
20	$6,565	$5,268	$1,297
30	$18,525	$15,002	$3,523

Expense ratio

0.99%AAPY
0.78%XXV, cheaper

XXV0.78%AAPY0.99%

0.51%1.91%

Middle half of Single-Stock Option Income funds
Median 1.04%

XXV 3rd cheapest of 71 funds

AAPY 9th cheapest of 71 funds

AAPY vs XXV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AAPY 10.78%; XXV No data
Payout (12M): AAPY $3.05; XXV No data
Last payment: AAPY $0.25; XXV $0.46
Ex-dividend: AAPY Oct 21, 2026; XXV Oct 27, 2026
Paid on: AAPY Oct 22, 2026; XXV Oct 30, 2026
Frequency: AAPY Monthly; XXV Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

AAPYMonthly · 36 paymentsAll AAPY payments⁠

XXVMonthly · 11 paymentsAll XXV payments⁠

AAPY vs XXV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AAPY 18.4%XXV No data
Return per unit of riskSharpe ratio, 3 years: AAPY 0.84XXV No data
Worst fallMax drawdown, 5 years: AAPY −29.2%since Oct 2023XXV No data
Market sensitivityBeta, 5 years: AAPY 0.75XXV 0.71; Market = 1

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