Knee sleeves are snug neoprene tubes worn for warmth and joint awareness; knee wraps are stiff elastic bandages wound tightly for maximal squats, mainly in equipped powerlifting.
A biomechanics study in the Journal of Strength and Conditioning Research (2012) reported that wearing knee wraps during back squats changed the movement itself: the wraps stored and returned elastic energy, increased vertical impulse, and shifted the lifter into a more upright trunk position with less horizontal bar displacement. The authors note this alters how the target muscles are loaded, which is why the published discussion treats wraps as a performance aid that changes technique rather than a neutral support. Comparable peer-reviewed evidence on soft neoprene sleeves is thinner; the published studies concern the stiff competition wrap.