AAPY vs AIYY

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

AIYYCYieldMax AI Option Income Strategy ETF

In short

AAPY Apple income without slamming the brakes on upside: AAPY builds its Apple exposure with options, sells calls above the market rather than at it, and pays monthly. Fee is 0.99% net of a waiver through September 30, 2027 (1.15% gross).

AIYY AIYY writes call spreads on C3.ai, turning one of the AI trade's jumpiest names into option premium. Because it uses spreads rather than plain short calls, it keeps a slice of the upside.

Stated mandate

AAPY The Fund seeks current income while providing exposure to Apple Inc.'s share price, with potential gains limited by its options strategy.

AIYY AIYY is actively managed to seek weekly income by selling call spreads on C3.ai Inc. (AI), while retaining participation in potential appreciation of the underlying shares.

Why people hold it

• AAPY The calls it sells sit out of the money, and the prospectus allows buying higher-strike calls and put spreads, a toolkit aimed at keeping some room above the sold strike.sec.govsec.gov 2
• 0.99% net of a waiver through September 30, 2027 (1.15% gross) comes in under APLY, the other Apple options-income ETF, at 1.04%.
• Collateral sits in Treasury bills, income is paid monthly, and the portfolio matches what the filings describe.sec.gov
• One of the stronger builds in a crowded field of single-stock options-income funds.

• AIYY Costs 0.99% a year, below the median for single-stock option-income funds.
• Sells call spreads instead of writing calls outright, so the fund keeps some participation in C3.ai's appreciation rather than trading all of it away.yieldmaxetfs.com
• Actively managed with income as the stated goal, and it distributes on a recurring schedule rather than reinvesting premium.
• Sits among the stronger builds in a crowded field of single-stock overlay funds, where cost and execution vary widely.

Worth knowing

• AAPY Apple's full downside comes through the synthetic long position, while share-price gains are limited by the options strategy.sec.gov
• Monthly payouts can include return of capital, meaning part of a distribution may be your own money coming back.kurvinvest.com
• Small fund that trades thinly, so spreads can be wider than a mega-ETF's and large orders can move the price.

• AIYY Exposure is synthetic and tied to one small, volatile AI name. You get the stock's drawdowns without owning the shares.
• Payouts are funded by option premium, which swells and shrinks with C3.ai's volatility. No fixed target rate is declared.
• A small fund with moderate trading volume, so spreads can run wider than on peers linked to mega-caps like TSMY or BRKC.

Full AAPY profile⁠

Full AIYY profile⁠