AAPY vs AMYY

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

AMYYDGraniteShares YieldBOOST AMD 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).

AMYY Most AMD income funds sell calls on the stock. AMYY flips it: the fund sells puts on a leveraged ETF tracking twice AMD's daily move, where premiums run richer, and pays the proceeds out as income.

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.

AMYY AMYY seeks income by selling options, primarily put options, on leveraged ETFs designed to deliver twice the daily performance of Advanced Micro Devices, Inc. It also seeks indirect exposure to that leveraged ETF, with gains subject to a cap.

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.

• AMYY The engine is unusual. Rather than write calls on AMD shares, it sells puts on a leveraged ETF that targets twice AMD's daily move, where option premiums are typically fatter.graniteshares.com
• At 1.07%, the fee sits right at the median for single-stock options-income ETFs. The closest AMD-based rival, AMDY, runs about 1.00%.
• It is a standard 1940 Act fund holding collateral and options, not a bank-issued note, so payouts do not depend on an issuer's credit standing.graniteshares.com

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.

• AMYY Gains are capped by design. The indirect exposure to the leveraged ETF carries a ceiling, while written puts leave the fund on the hook for declines below the strike.graniteshares.com
• Distributions can include return of capital, meaning part of a payout may be your own money coming back. The fund discloses this in its documents.graniteshares.com
• Launched in September 2025 and still a small, thinly traded fund, so the record is short and spreads can run wider than on large, heavily traded ETFs.

Full AAPY profile⁠

Full AMYY profile⁠