Defiance S&P 500 Target Income ETF
$17.27−0.10 (−0.55%)
- Expense ratio
- 0.92%
- Fund size
- $165M
- 1Y return
- +15.1%
- Yield · Last 12 months
- 20.60%
- Holdings
- 5
- Volume · 30D
- 0.1M sh
- NAV per share
- $17.35
- 52W range
The ETF.net SPYT Grade
Score 49 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 18Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 99Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 33Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 51Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 38Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 52Category rank
Our read on SPYT
CMost S&P 500 income funds sell a call and stop there. SPYT sells a daily call spread, buying a higher strike back, so above that upper strike it can track index gains again. Stated aim: a 20% annualized payout, paid monthly.
The Fund primarily seeks current income and secondarily seeks exposure to the performance of the S&P 500 Index through an actively managed strategy that holds index-tracking ETFs and sells daily credit call spreads.
Why people hold it
- The spread is the whole idea: sell a call at or near the money, buy one at a higher strike, so above that upper strike the fund can participate in index gains again.defianceetfs.comdefianceetfs.com
- The income goal is written down, not implied: a 20% annual target paid monthly, and the fund has run the daily credit-spread strategy on its label since launching in 2024.defianceetfs.com
- The equity sleeve is plain vanilla: unaffiliated ETFs that track the S&P 500 do the index work, with the options overlay bolted on top rather than replacing the stocks.defianceetfs.com
Worth knowing
- Fee is 0.92%, above the typical S&P 500 income fund, and well above cheaper peers like IVVW at 0.25%, RSPA at 0.32% and GPIX at 0.35%.
- Distributions can include return of capital, which Defiance discloses. Return of capital hands back your own money and reduces NAV per share rather than adding to it.defianceetfs.com
- Writing near-the-money calls every day trades away index gains inside the spread band, so the payout and the S&P's move are pulling in opposite directions.defianceetfs.com
SPYT Holdings
- Stocks
- 5
- 100%
- IVV
Sectors
Geography
SPYT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SPYT |
|---|---|
| Year to date | +13.4% |
| 1 month | +1.6% |
| 3 months | +4.4% |
| 1 year | +15.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SPYT |
|---|---|---|
| 2026 YTD | +13.4% | |
| 2025 | +12.5% | |
| 2024 | +13.0% |
SPYT in the news
ETF.net Research hasn’t filed on SPYT yet — coverage lands here as it’s written.
SPYT Dividends
- 20.60%
- $3.58
- $0.29 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 2, 2026 | $0.29 |
| Aug 3, 2026 | Aug 4, 2026 | $0.29 |
| Jul 1, 2026 | Jul 2, 2026 | $0.29 |
| Jun 1, 2026 | Jun 2, 2026 | $0.30 |
| May 1, 2026 | May 4, 2026 | $0.29 |
| Apr 1, 2026 | Apr 2, 2026 | $0.26 |
| Mar 2, 2026 | Mar 3, 2026 | $0.29 |
| Feb 2, 2026 | Feb 3, 2026 | $0.30 |
| Dec 31, 2025 | Jan 2, 2026 | $0.31 |
| Dec 1, 2025 | Dec 2, 2025 | $0.31 |
| Nov 3, 2025 | Nov 4, 2025 | $0.32 |
| Oct 1, 2025 | Oct 2, 2025 | $0.32 |
SPYT Risk
- 11.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.93
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −18.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.91
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SPYT Cost
- The middle half of S&P 500 Option Income funds
- Median 0.60%
40 of the 51 S&P 500 Option Income funds charge less.