IQ

WEEL Peerless Option Income Wheel ETF

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$19.89
+0.2% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Oct 28, 2026, WEEL paid 12.5% in cash and returned 11.0% in total, against 13.6% for SPY.

Why did WEEL return +30.4% against SPY’s +47.8%?Is WEEL’s payout of 12.1% a year sustainable?What do WEEL’s net flows of +$38.7m over the since May 2024 mean?
Option income on SPY, paying quarterlyPeerless ↗Expense ratio 0.99%Fund assets $39m net assets, latest filing (Jun 30, 2026)First traded May 16, 2024Benchmark S&P 500 (SPY)SEC filings ↗Dividend history

Promise check: PartlyOver the year to Oct 28, 2026, WEEL paid 12.5% in cash and returned 11.0% in total, covering 88.0% of its payout. Since launch it covered 113.0%.

Compare with…Trading costsPut to the committeeaskIQ about WEELAdd to portfolioFlowsAlerts

WEEL risk and return scorecard

vs SPY · May 2024 to Oct 2026 · 126 weekly returns · dividend-adjusted

Short history · 29 months
WEEL +30.4%, SPY +47.8%, May 2024 to Oct 2026, distributions reinvested.
Return
MeasureWEELSPYEdge
Total return+30.4%+47.8%SPY
Annualized+11.6%+17.5%SPY
Price return−1.9%+43.5%SPY
Risk
MeasureWEELSPYEdge
Volatility10.7%14.7%WEEL
Max drawdown−14.5%−16.9%WEEL
Upside capture44.6%100.0%SPY
Downside capture57.6%100.0%WEEL
Risk-adjusted
MeasureWEELSPYEdge
Sharpe ratio0.690.88SPY
Sortino ratio0.951.35SPY
Alpha vs SPY
MeasureWEELSPYEdge
Alpha, a year−0.8%Not significant
Alpha t-stat−0.24
Beta to SPY0.631.00Lower beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Jun 30, 2026
12 months to Jun 30, 2026
+$26.3m
Since May 2024
+$38.7m
askIQ: what do these flows mean? ↗

What you earned

WEEL −0.4%, SPY +0.9%: total return over one month to Oct 28, 2026.
WEEL−0.4%
SPY+0.9%
Paid 0.0% in cash. Price −0.4%.
WEEL +3.2%, SPY +6.1%: total return over three months to Oct 28, 2026.
WEEL+3.2%
SPY+6.1%
Paid 3.0% in cash. Price +0.2%.
WEEL +5.0%, SPY +9.1%: total return over six months to Oct 28, 2026.
WEEL+5.0%
SPY+9.1%
Paid 6.0% in cash. Price −1.1%.
WEEL +8.6%, SPY +14.1%: total return over the year to Oct 28, 2026.
WEEL+8.6%
SPY+14.1%
Paid 9.0% in cash. Price −0.8%.
WEEL +11.0%, SPY +13.6%: total return over one year to Oct 28, 2026.
WEEL+11.0%
SPY+13.6%
Paid 12.5% in cash. Price −2.3%.
WEEL +32.1%, SPY +50.4%: total return since launch to Oct 28, 2026.
WEEL+32.1%
SPY+50.4%
Paid 28.4% in cash. Price −0.6%.
askIQ: why did WEEL return +11.0% against SPY’s +13.6%? ↗

What it paid

9 distributions · latest Sep 24, 2026
12.5%
Cash paid, 1 year, on its starting price
Report
+11.0%
Total return, 1 year
Report
−2.6 pts
Against SPY
Report
12.1%
Latest payout, annualized on today’s price
Report
$0.60
Last payment (paid quarterly), ex-date Sep 24, 2026
Report
Pays quarterly.
askIQ: is WEEL’s payout of 12.1% a year sustainable? ↗

More on WEEL

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Price and total return, 1 year

$19.89+0.2%1 day, priceClose, Oct 28, 2026

Total return adds every distribution, reinvested. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Report a data error

WEEL returns by window: total return, cash paid and price change
WindowTotal returnCash paidPriceSPYAhead or behind
1M Sep 28 – Oct 28, 2026−0.4%0.0%−0.4%+0.9%−1.3 pts
3M Jul 29 – Oct 28, 2026+3.2%3.0%+0.2%+6.1%−2.9 pts
6M Apr 29 – Oct 28, 2026+5.0%6.0%−1.1%+9.1%−4.1 pts
YTD Dec 31, 2025 – Oct 28, 2026+8.6%9.0%−0.8%+14.1%−5.5 pts
1Y Oct 28, 2025 – Oct 28, 2026+11.0%12.5%−2.3%+13.6%−2.6 pts
Since launch May 16, 2024 – Oct 28, 2026+32.1%28.4%−0.6%+50.4%−18.3 pts
Since launch, annualised May 16, 2024 – Oct 28, 2026+12.0%––––

Total returns, distributions reinvested. Listed May 2024: no 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

Where the return came from
Price change −0.4%Cash paid 0.0%, reinvested−1.3 pts vs SPY

0.0%

Price change +0.2%Cash paid +3.0%, reinvested−2.9 pts vs SPY
Price change −1.1%Cash paid +6.0%, reinvested−4.1 pts vs SPY

0.0%

Price change −2.3%Cash paid +12.5%, reinvested−2.6 pts vs SPY

0.0%

Price change −0.6%Cash paid +28.4%, reinvested−18.3 pts vs SPY

0.0%

50.3
IQ Income ScoreETFIQ Distribution Coverage Score82nd of 164 · Oct 28, 2026
0.3 · lowest of 164 income ETFs not writing on a single company99.7 · highest

How much of its payouts the fund's total return covered, ranked against 164 income ETFs not writing on a single company. 100 is best. How it is computed

WEEL paid 12.5% in cash over the year and returned 11.0% in total, less than it paid out.

total return as a share of the cash paid88.0% · 50th pct
All 164 ranked by this score →

Money in and out

Monthly data · as of Jun 30, 2026

WEEL: in the month to Jun 30, 2026, net $2.5m came in, by its SEC filing.

12 months
+$26.3m
208.4% of $12.6m on Jun 30, 2025
Jul 1, 2025 to Jun 30, 2026
monthly, from SEC filings
Since May 2024
+$38.7m
May 1, 2024 to Jun 30, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions WEEL files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Jun 2026. Every day and month ETFIQ holds for WEEL, back to May 2024, is in its flows file. Flows across every fund · How these flows are computed · Compare WEEL with other funds in the flows tool

Month by month, money in and money outMay 2024 to Jun 2026

WEEL, money in and money out each month from May 2024 to Jun 2026: two bars a month, money in above the line and money out below. Every bar is from WEEL’s SEC filings (N-PORT item B.6). Of the 26 months listed, money came in on net in 25 and went out in 0.

Every bar is from WEEL’s SEC filings (N-PORT item B.6). Of the 26 months listed, money came in on net in 25 and went out in 0.

MonthInOutNet
Jun 2026 SEC Form N-PORT+$2.5m$0+$2.5m
May 2026 SEC Form N-PORT+$3.6m$0+$3.6m
Apr 2026 SEC Form N-PORT+$508k$0+$508k
Mar 2026 SEC Form N-PORT+$2.0m−$1.0m+$957k
Feb 2026 SEC Form N-PORT+$3.0m−$502k+$2.5m
Jan 2026 SEC Form N-PORT+$3.0m$0+$3.0m
Dec 2025 SEC Form N-PORT+$3.6m$0+$3.6m
Nov 2025 SEC Form N-PORT+$2.0m−$502k+$1.5m
Oct 2025 SEC Form N-PORT+$2.5m$0+$2.5m
Sep 2025 SEC Form N-PORT+$4.1m$0+$4.1m
Aug 2025 SEC Form N-PORT+$502k$0+$502k
Jul 2025 SEC Form N-PORT+$972k$0+$972k
Jun 2025 SEC Form N-PORT$0$0$0
May 2025 SEC Form N-PORT+$475k$0+$475k
Apr 2025 SEC Form N-PORT+$885k$0+$885k
Mar 2025 SEC Form N-PORT+$471k$0+$471k
Feb 2025 SEC Form N-PORT+$496k$0+$496k
Jan 2025 SEC Form N-PORT+$484k$0+$484k
Dec 2024 SEC Form N-PORT+$483k$0+$483k
Nov 2024 SEC Form N-PORT+$1.0m$0+$1.0m
Oct 2024 SEC Form N-PORT+$1.0m$0+$1.0m
Sep 2024 SEC Form N-PORT+$1.0m$0+$1.0m
Aug 2024 SEC Form N-PORT+$1.5m$0+$1.5m
Jul 2024 SEC Form N-PORT+$1.0m$0+$1.0m
Jun 2024 SEC Form N-PORT+$1.5m$0+$1.5m
May 2024 SEC Form N-PORT+$2.0m$0+$2.0m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Jun 30, 2026. Updated when the fund files its next report.

WEEL key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$20.94 on Aug 13, 2026
52-week low, daily closes to Oct 28, 2026 (ETFIQ)$18.98 on Mar 30, 2026
Close on Oct 28, 2026, within that range (ETFIQ)$19.89, 46% of the way from the low to the high
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

WEEL return of capital and tax

Return of capital, fiscal year to Mar 31, 2026 (annual report, filed Jun 8, 2026)0.0%
Options it writes (holdings as of Jun 30, 2026)Options on one company’s shares, which are not Section 1256 contracts
Rule 19a-1 noticesnot read by ETFIQ
The fiscal year number is the annual report’s tax character. Not tax advice. What a 19a-1 estimate is · Income ETFs by return of capital

Trading

as of Jun 9, 2026
Trading · WEELas of Jun 9, 2026
·
Not scored1 of 6 measured · Jun 9, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
How to tradeSpread not read.
Full trading page: components, premium history, dealers →
Sep 2024Quarterly, per shareSep 2026

9 distributions for WEEL, $0.6 to $0.75 a share and $0.6 in the middle, Sep 25, 2024 to Sep 24, 2026.

Latest
$0.6
Ex Sep 24, 2026 · paid about 2 days later
Annualized
12.1%
At its price on Oct 28, 2026
Trailing 12 months
12.8%
4 payments, ex Dec 30, 2025 to Sep 24, 2026: $2.55
Return of capital
Not published
No Rule 19a-1 notice has been published for this fund
Next, projected

WEEL pays quarterly. The last distribution was $0.6 a share, which went ex on Sep 24, 2026, with payment about 2 days later.

Every income ETF going ex-dividend in the next 14 days →
Every distribution ETFIQ holds for WEEL (9, most recent first)
Sep 24, 2026$0.6
Jun 25, 2026$0.6
Mar 26, 2026$0.6
Dec 30, 2025$0.75
Sep 25, 2025$0.6
Jun 26, 2025$0.6
Mar 27, 2025$0.6
Dec 27, 2024$0.732
Sep 25, 2024$0.6

Cash distributions per share for WEEL. Source: ETFIQ from Tiingo end-of-day distributions.

Source: ETFIQ, from Tiingo end-of-day distributions.

How much of what it paid out did its total return cover?

Total return as a share of the cash paid
ETTY −271.3%DFII −248.3%BITY −221.7%EHY −216.5%BAGY −174.1%BTCI −167.1%BLOX −164.9%YETH −127.5%ETCO −119.8%YBTC −115.9%TLTI −108.8%KLIP −106.4%LTTI −95.1%BTCC −91.8%YBIT −87.5%XBTY −82.9%BCCC −77.7%LFGY −64.4%TLTP −45.3%FDND −33.8%XLCI −32.7%TLTW −30.3%LQTI −27.4%, and 2 more at this point: ULTY −25.3%, HISF −20.4%TQQY −14.5%YMAX −11.1%OARK −7.1%XLYI −6.1%, and 3 more at this point: MAGY −4.6%, EGGY −2.1%, IGLD 0.0%CEPI 2.3%BNDI 5.4%, and 1 more at this point: IAUI 5.6%OVB 9.5%GDXY 9.9%, and 4 more at this point: QUSA 9.9%, XLRI 9.9%, LQDW 10.7%, YMAG 13.0%YQQQ 18.3%, and 1 more at this point: IWMY 18.4%XLUI 24.1%YSPY 28.1%HYTI 28.3%, and 1 more at this point: HYGW 33.0%QLDY 34.6%, and 2 more at this point: OVM 35.7%, HYBI 38.0%RDTY 39.7%, and 3 more at this point: OVT 40.5%, QDTY 41.1%, RDTE 42.2%GIAX 44.9%RNTY 45.4%, and 3 more at this point: QRMI 45.7%, QDTE 48.2%, ACEI 49.1%AIPI 51.0%, and 6 more at this point: GPTY 53.0%, XDTE 53.3%, IWMW 53.6%, SLJY 53.9%, XLFI 54.3%, SDTY 54.5%WDTE 54.9%, and 1 more at this point: QQQY 59.3%YFYA 60.8%XPAY 66.0%OMAH 67.1%, and 2 more at this point: JUCY 68.8%, BIGY 69.2%XRMI 72.3%, and 2 more at this point: FGSI 72.8%, TCAL 74.5%XLII 76.0%XLBI 81.8%IVVW 85.1%, and 3 more at this point: XLSI 85.1%, QQQI 86.9%, CAIE 87.1%JULJ 89.3%, and 3 more at this point: FTHI 89.8%, TSPY 89.8%, WTPI 90.0%JULH 91.7%, and 4 more at this point: TDAQ 92.1%, XIJN 94.1%, OCTJ 94.3%, LJUL 96.2%APRJ 98.4%, and 3 more at this point: LAPR 100.0%, LOCT 100.0%, RYLD 100.0%KHPI 101.1%, and 10 more at this point: APRH 101.6%, OCTH 101.6%, XIDE 101.6%, JANJ 102.0%, CSHI 102.1%, IWMI 102.7%, XLKI 102.8%, JANH 103.2%, LJAN 104.1%, QYLG 104.2%SRHR 105.9%CVRD 106.7%, and 4 more at this point: XISE 106.7%, JEPI 108.7%, NIHI 110.4%, XIMR 111.8%SPYI 114.3%OVF 116.7%, and 2 more at this point: XYLG 116.8%, RYLG 118.1%OEI 120.9%JEPQ 122.4%, and 2 more at this point: CHPY 124.4%, DJIA 127.7%SCLZ 133.3%PBP 136.8%DRKY 137.0%BUYW 142.6%, and 2 more at this point: SDVD 142.7%, XLVI 147.6%XYLD 149.1%, and 2 more at this point: IQQQ 150.0%, KNG 151.7%GPIQ 151.9%FTKI 154.4%, and 3 more at this point: USOY 154.6%, FTQI 155.8%, QYLD 156.9%HCOW 157.8%, and 1 more at this point: OVL 161.9%GPIX 170.9%NBOS 170.9%SPIN 175.5%ISPY 177.2%, and 2 more at this point: OVS 178.9%, YLDE 184.4%DIVO 192.4%RDVI 196.7%DOGG 202.1%IDVO 204.6%, and 2 more at this point: ITWO 206.3%, SEPI 206.9%TDVI 207.6%, and 1 more at this point: SPUT 210.2%BALI 212.0%PAPI 217.5%XLEI 222.3%MDST 248.1%EIPI 307.9%WEEI 311.6%IDUB 320.4%SOXY 385.7%VEGA 561.5%DUBS 743.5%SIXH 862.5%JOYT 1,787.5%OVLH 2,166.7%WEEL 88.0%WEEL 88.0%−271.3%2,166.7%
−271.3% to 2,166.7% across 164

That is the share of the 164 income ETFs not writing on a single company sitting at or below WEEL.

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. Where the fund sits in this set, not a rating. Do not average it with another category's score.

Total return as a share of the cash paid: 88.0% · 50th pct, −271.3% to 2,166.7% across 164.

Covered the mostOne bar per fund · WEEL in whiteCovered the least
All income ETFs ranked by this score →

About WEEL

Strategyoption income
BenchmarkS&P 500 (SPY)
How the benchmark is set (ETFIQ)WEEL's shareholder report compares it with the S&P 500 Total Return Index (shareholder report, Form N-CSR, accession 0001999371-26-012388, filed 2026-06-08); SPY tracks it.
Paysquarterly
Net assets (SEC filing, whole fund, as filed for Jun 30, 2026)$39mReport
Latest payout, annualized (ETFIQ)12.1%
Expense ratio (485BPOS XBRL, Jul 24, 2026)0.99%Report
Cash paid, last 12 months, over today’s price (ETFIQ)12.8%
First tradedMay 16, 2024
Paysquarterly
Typical gap between ex-dates91 days
Typical wait from ex-date to payment2 days
Last paid, per share$0.6 ex Sep 24, 2026
Cash paid in the 12 months to Oct 28, 2026, 4 distributions, ex Dec 30, 2025 to Sep 24, 2026$2.55
How we measure
Every number is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. Method
IQ Investment Committee on WEEL

12 seats on WEEL, as of Oct 28, 2026: 1 Supports, 1 Mixed, 6 Challenges, 4 Not enough data.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherChallenges
In the tradition ofHoward MarksMarks-style Cycles & RiskMixed
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationChallenges
In the tradition ofJesse LivermoreLivermore-style Trend FollowingSupports
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatChallenges
Put WEEL to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about WEEL

How much has WEEL paid over the last year?
Over the year to Oct 28, 2026, WEEL paid 12.5% of its starting price in cash distributions, while the price fell 2.3%.
Is WEEL ahead of SPY?
Over the year to Oct 28, 2026, with every distribution reinvested, WEEL returned +11.0% against +13.6% for S&P 500 (SPY), so a holder was behind it by 2.6 points.
How often does WEEL pay, and how much?
WEEL pays quarterly. The latest distribution annualizes to 12.1% at its price on Oct 28, 2026, which is not a promise; the next one can differ.
When does WEEL next pay a distribution?
WEEL pays quarterly. The last distribution went ex on Sep 24, 2026 at $0.6 a share.
What does WEEL cost?
The prospectus expense ratio is 0.99% a year.
Sources and dates
Prices, WEEL and SPYTiingo end-of-day · Oct 28, 2026
Fee, 0.99%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $39mSEC filing, whole fund · Jun 30, 2026
DistributionsTiingo end-of-day · 9 payments
All fund filingsFund filings on SEC EDGAR ↗
IssuerPeerless website ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, WEEL, income ETFs, data as of Oct 28, 2026. https://etfiq.com/funds/weel

The payout bar for WEEL, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Total return
Price change plus every distribution reinvested on the day it went ex-dividend. This is what you actually ended up with, and the only fair basis for comparing with an index.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
Total return minus benchmark total return, in percentage points. A fund can pay 12% a year and still be behind by 10 points if its price fell while the index rose.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
The fund owns the stocks and sells call options on them, collecting premium and giving up gains above the strike. Synthetic covered call funds hold options instead of the stocks. 0DTE funds sell options that expire the same day.
Autocallable
A fund that pays a coupon and can be called away early, on dates set when it launched. If it is called, you get your money back with the coupon and the run ends. If it is not, it runs on to the next date.
Barrier
The level the underlying has to stay above for you to be repaid in full. A barrier is not a buffer. A buffer takes the first slice of a fall for you; a barrier takes none of it once it breaks, so below it you take the whole fall rather than only the part past it.
Full definitions: income ETFs vocabulary page. →
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WEEL: WEEL over 1 year: paid 12.5%, price −2.3%, total +11.0%, SPY +13.6%, −2.6 pts. Data to Oct 28, 2026.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/weel"><img src="https://etfiq.com/assistant/api/embed/income/weel.svg" alt="WEEL: WEEL over 1 year: paid 12.5%, price −2.3%, total +11.0%, SPY +13.6%, −2.6 pts. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">WEEL: WEEL over 1 year: paid 12.5%, price −2.3%, total +11.0%, SPY +13.6%, −2.6 pts. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/weel">ETFIQ</a></figcaption>
</figure>

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Snapshot, Oct 28, 2026. More on the tabs above.