AAPY vs AMDY

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

AMDYBYieldMax AMD 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).

AMDY An income wrapper bolted onto one chip stock. AMDY sells call spreads on AMD to harvest premium while keeping a slice of the stock's upside, and it charges less than the typical single-stock income fund.

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.

AMDY The fund seeks to generate weekly income by selling call spreads on AMD while retaining some participation in AMD's share-price appreciation.

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.

• AMDY Sells call spreads rather than plain covered calls, so the fund keeps room to participate in part of AMD's share-price appreciation instead of surrendering all of it for premium.yieldmaxetfs.com
• Fee runs 1.00%, under the median for single-stock option-income peers and below the other AMD income ETF in the set (AMYY).
• One of the stronger implementations in a crowded field of single-stock option overlays, with a live track record dating to its 2023 launch.
• Built to push out current income from option premium on a recurring schedule, inside a standard 1940 Act ETF wrapper.

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.

• AMDY AMD exposure here is synthetic, built with options instead of shares, so there is no ownership of the stock and results can diverge from AMD's own path.
• Everything rides on one semiconductor name, and the call spreads limit how much of a sharp AMD rally the fund can capture.
• No declared target yield: payouts come from option premium, which moves with AMD's volatility rather than a fixed rate.

Full AAPY profile⁠

Full AMDY profile⁠