Typical cold rolled steel has yield strengths ranging from 30 ksi – 150 ksi, and ultimate strengths ranging from 50 ksi – 200 ksi.
T6 6061 Aluminum has yield strengths ranging from 15 ksi – 70 ksi, and ultimate strengths ranging from 30 ksi – 90 ksi.
So, there is some overlap, but in general, steel is ~2x stronger. So for wheels that are commercially available, steel wheels will be stronger for any given size than aluminum wheels. While aluminum is generally 1/2 as strong, it is 1/3 as heavy. So the strength-to-weight ratio is higher for aluminum. If aluminum is “strong enough” for your application, you can save some weight. The challenge for those of us carrying heavy truck campers is we are limited to what we can fit under our trucks and getting the strongest wheel available to fit that space.(Fit = not only the physical space, but mating components as well; hubs, brakes, etc.).
Hope this helps, Bill