Which paid more, APLY or TSLY?

Over the year to Oct 28, 2026, APLY paid 28.6% of its starting price in cash and TSLY paid 39.0%, so TSLY paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, APLY or TSLY?

With every distribution reinvested, APLY returned +18.2% and TSLY −7.7% over the year to Oct 28, 2026.

Which is cheaper, APLY or TSLY?

APLY charges 1.04% a year and TSLY charges 1.07%, so APLY is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Income ETFs

APLY vs TSLY: Dividend Yield & Total Return

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Over the year to Oct 28, 2026, TSLY paid 39.0% of its price in cash against APLY’s 28.6%, though APLY returned more with it reinvested.

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Net assets on Oct 27, 2026: $112m for YieldMax AAPL Option Income Strategy ETF and $685m for YieldMax TSLA Option Income Strategy ETF.

APLY on its own →TSLY on its own →

At a glance

28.6%

APLY cash paid, 1 year

39.0%

TSLY cash paid, 1 year

+18.2%

APLY total return, 1 year

−7.7%

TSLY total return, 1 year

APLY · 1 year to Oct 28, 2026 10.1 pts behind AAPL

APLY

+18.2%

AAPL

+28.3%

10.1 pts behind AAPL

APLY over 1 year: paid 28.6%, price −14.2%, total +18.2%, AAPL +28.3%, −10.1 pts. Data to Oct 28, 2026.

AAPL

+28.3%

APLY

+18.2%

28.6% of it arrived as cash

10.1 pts behind AAPL

Total return, distributions reinvested

10.1 pts behind AAPL

APLY over 1 year: paid 28.6%, price −14.2%, total +18.2%, AAPL +28.3%, −10.1 pts. Data to Oct 28, 2026.

AAPL

+28.3%

APLY

+18.2%

10.1 pts behind AAPL

28.6% of it arrived as cash. Total return, distributions reinvested. APLY over 1 year: paid 28.6%, price −14.2%, total +18.2%, AAPL +28.3%, −10.1 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

TSLY · 1 year to Oct 28, 2026 4.5 pts ahead of TSLA

TSLY

−7.7%

TSLA

−12.2%

4.5 pts ahead of TSLA

TSLY over 1 year: paid 39.0%, price −46.6%, total −7.7%, TSLA −12.2%, +4.5 pts. Data to Oct 28, 2026.

TSLA

−12.2%

TSLY

−7.7%

4.5 pts ahead of TSLA

Total return, distributions reinvested

4.5 pts ahead of TSLA

TSLY over 1 year: paid 39.0%, price −46.6%, total −7.7%, TSLA −12.2%, +4.5 pts. Data to Oct 28, 2026.

TSLA

−12.2%

TSLY

−7.7%

4.5 pts ahead of TSLA

39.0% of it arrived as cash. Both charts share one scale, with zero at the line. TSLY over 1 year: paid 39.0%, price −46.6%, total −7.7%, TSLA −12.2%, +4.5 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

Pair scorecard

APLY costs 0.03 points a year less; their one-year returns differ by 25.9 points; TSLY is 6.1 times larger.

Points (pts) are percentage points.

APLY vs TSLY: Dividend Yield & Total Return
Measure	APLY	TSLY
Paid and earned
Measure	APLY	TSLY
Total return, 1 year	+18.2%	−7.7%
Price change, 1 year	fell 14.2%	fell 46.6%
Return of capital, issuer estimate		100% of the Oct 30, 2026 payment
Against its benchmark
Measure	APLY	TSLY
Benchmark	Apple (AAPL)	Tesla (TSLA)
Cost and size
Measure	APLY	TSLY
Expense ratio	1.04%	1.07%
Net assets, as of Oct 27, 2026	$112m	$685m
Holdings
Measure	APLY	TSLY
Holdings in common	33%

ETFIQ Distribution Coverage Score · APLY scores higher How much of what it paid out did its total return cover?

IQ Income Score84.5APLY56.1TSLY

How much of its payouts the fund's total return covered, ranked against 74 income ETFs writing on a single company. 100 is best. How it is computed

APLY 84.5

TSLY 56.1

0.7, the lowest in this set 99.3, the highest

A percentile among the 74 income ETFs writing on a single company. One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Holdings in common uses holdings dated Oct 28, 2026. Method

Risk and return

Apr 28, 2023 to Oct 23, 2026 · 182 weekly returns

APLY TSLY

Return

Total return edge TSLY (slight) +61.3% +67.5%

Annualized edge TSLY (slight) +14.6% +15.9%

Price return edge APLY −41.2% −83.9%

Risk

Volatility edge APLY 21.0% 40.7%

Max drawdown edge APLY −24.1% −42.6%

Downside capture 91.8% 95.4%

Beta 0.78 0.72

Risk-adjusted

Sharpe edge APLY 0.54 0.45

Sortino edge APLY 0.73 0.65

Treynor 0.145 0.156

Calmar edge APLY 0.61 0.37

Against the benchmark

Alpha −4.1% a year −8.4% a year

Alpha t-stat −1.45 −1.30

Information ratio −1.09 −0.79

Tracking error 7.8% 20.2%

Each against its own benchmark: APLY against AAPL, Apr 28, 2023 to Oct 23, 2026; TSLY against TSLA, Dec 2, 2022 to Oct 23, 2026.

Reading

TSLY returned slightly more: +67.5% to +61.3%. APLY swung less: 21.0% to 40.7%. APLY fell less at its worst: −24.1% to −42.6%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: APLY vs TSLY: Dividend Yield & Total Return
Measure	APLY	TSLY	Edge	How it is measured
Return
Total return	+61.3%	+67.5%	TSLY (slight)	Price change plus distributions, reinvested.
Annualized	+14.6%	+15.9%	TSLY (slight)	Total return as a yearly rate.
Price return	−41.2%	−83.9%	APLY	Price change alone, distributions left out.
Risk
Volatility	21.0%	40.7%	APLY	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	15.5%	28.3%	APLY	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−24.1%	−42.6%	APLY	Deepest fall from a high to the low after it.
Upside capture	66.1%	45.3%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	91.8%	95.4%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.78	0.72	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.94	0.91	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.54	0.45	APLY	Return above Treasury bills per unit of volatility.
Sortino	0.73	0.65	APLY	Return above Treasury bills per unit of downside deviation.
Treynor	0.145	0.156		Return above Treasury bills per unit of beta.
Calmar	0.61	0.37	APLY	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	AAPL	TSLA		The ETF each fund is measured against.
Alpha	−4.1% a year	−8.4% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−1.45	−1.30	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−9.7% to +1.5%	−21.2% to +4.4%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−1.09	−0.79		Return against its benchmark per unit of tracking error.
Tracking error	7.8%	20.2%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 182 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

33%

By the books each fund has filed, APLY and TSLY hold 33% of their money in the same securities at the same weight. Holdings dated Oct 28, 2026.

50%

0 half 100%

half

33% in common

Positions both hold · largest shared weight first APLY TSLY

United States Treasury Note/Bond 3.375% 09/15/2027 26.10% 18.67%

United States Treasury Note/Bond 2.375% 05/15/2027 13.93% 24.07%

Only in one fund ↓

Only in APLY

AAPL 12/18/2026 310.01 C 11.68%

AAPL US 10/30/26 C352.5 0.03%

AAPL US 10/30/26 C355 0.02%

AAPL US 10/30/26 C350 -0.12%

AAPL US 10/30/26 C347.5 -0.13%

AAPL 12/18/2026 310.01 P -0.86%

Only in TSLY

TSLA 11/20/2026 370.01 C 10.31%

TSLA US 10/30/26 C395 1.38%

TSLA US 10/30/26 C390 0.95%

TSLA US 10/30/26 C392.5 0.64%

TSLA US 10/30/26 C387.5 0.56%

TSLA US 10/30/26 C420 0.02%

TSLA US 10/30/26 C412.5 -0.06%

TSLA US 10/30/26 C375 -0.89%

Check overlap with more funds →

Side by side

APLY YieldMax AAPL Option Income Strategy ETF · Synthetic covered call on AAPL, paying weekly TSLY YieldMax TSLA Option Income Strategy ETF · Synthetic covered call on TSLA, paying weekly

Issuer YieldMax YieldMax

Strategy synthetic covered call synthetic covered call

Benchmark Apple (AAPL) Tesla (TSLA)

Pays weekly weekly

Payout rate, annualized 20.9% 43.1%

Expense ratio 1.04% 1.07%

Cash paid, 1 year 28.6% 39.0%

Price change, 1 year −14.2% −46.6%

Total return, 1 year +18.2% −7.7%

Benchmark return, 1 year +28.3% −12.2%

Ahead or behind −10.1 pts +4.5 pts

Return of capital, latest estimate not published 100%

Age 3.5 years 3.9 years

Net assets, as of Oct 27, 2026 $112m $685m

As of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: APLY vs TSLY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	APLY	TSLY	APLY	TSLY	APLY	TSLY
3 months	0.0%	+27.2%	6.7%	13.3%	−1.8 pts	−8.3 pts
6 months	+18.3%	+3.5%	17.5%	23.4%	−9.2 pts	−4.9 pts
1 year	+18.2%	−7.7%	28.6%	39.0%	−10.1 pts	+4.5 pts
3 years	+63.0%	+59.2%	73.1%	102.5%	−44.1 pts	−35.8 pts
Since launchNot the same days: APLY Apr 2023 · TSLY Nov 2022	+62.0%	+50.8%	76.2%	97.8%	−47.9 pts	−69.9 pts

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Client brief · page 1 of 2 Report BR-0CDFAC6EF7

APLY and TSLY are built for the same job. How do they differ in cost, holdings and results?

Income paid. APLY paid 28.6% and TSLY 39.0% (cash paid over 1 year, as a share of its price at the start), a gap of 10.4 points.
What each is measured against. APLY is measured against Apple (AAPL) and TSLY against Tesla (TSLA).
Holdings in common. 33% of the weight is in the same securities (holdings dated Oct 28, 2026).

Data as of Oct 28, 2026.

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About each fund

APLY

Over the year to Oct 28, 2026, APLY paid 28.6% of its starting value in cash distributions while its price fell 14.2%. With every distribution reinvested, the fund returned +18.2%. Apple (AAPL) returned +28.3% over the same days, so a holder was behind by 10.1 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 20.9%, paid weekly.

TSLY

Over the year to Oct 28, 2026, TSLY paid 39.0% of its starting value in cash distributions while its price fell 46.6%. With every distribution reinvested, the fund returned −7.7%. Tesla (TSLA) returned −12.2% over the same days, so a holder was ahead by 4.5 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 43.1%, paid weekly. YieldMax estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, APLY or TSLY?: Over the year to Oct 28, 2026, APLY paid 28.6% of its starting price in cash and TSLY paid 39.0%, so TSLY paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, APLY or TSLY?: With every distribution reinvested, APLY returned +18.2% and TSLY −7.7% over the year to Oct 28, 2026.
Which is cheaper, APLY or TSLY?: APLY charges 1.04% a year and TSLY charges 1.07%, so APLY is cheaper. Fees come from each fund's prospectus.

Other comparisons

APLY vs FEPI APLY vs ULTY APLY vs MSTY APLY vs RYLD TSLY vs CRSH TSLY vs XVTS TSLY vs TSIB TSLY vs GPIQ

Where to next

APLY on its own →TSLY on its own →APLY dividend history →APLY holdings →TSLY dividend history →TSLY holdings →Method →Standards and sources →

Sources and dates

APLY and TSLY filings on SEC EDGAR ↗

APLY and TSLY prospectus with the expense ratio (SEC) ↗

APLY 19a-1 distribution notice ↗

YieldMax page for APLY ↗

TSLY 19a-1 distribution notice ↗

YieldMax page for TSLY ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, APLY against TSLY, data as of Oct 28, 2026. https://etfiq.com/compare/income/aply-vs-tsly

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