AAPY vs COYY

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

COYYCGraniteShares YieldBOOST COIN 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).

COYY Most COIN income funds sell options on Coinbase stock. COYY sells them on a 2x Coinbase ETF instead, aiming to pull twice the premium out of an already jumpy trade, with its upside capped in exchange.

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.

COYY The Fund seeks to generate twice the income from selling options on leveraged ETFs designed to deliver twice the daily performance of Coinbase Global, Inc., while also seeking capped exposure to that leveraged ETF’s performance.

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.

• COYY The twist: premiums come from options on a 2x Coinbase ETF, not COIN itself, so the fund is harvesting a fatter volatility surface by design.graniteshares.com
• It isn't income-only. The mandate also seeks capped exposure to the leveraged ETF's performance, so shareholders keep a slice of the move.graniteshares.com
• Exotic engine, ordinary plumbing: a 1940 Act ETF you trade in a brokerage account, with 1099 tax reporting rather than a partnership K-1.

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.

• COYY The payoff is lopsided by construction. Gains are capped, while the fund still shoulders declines in a Coinbase ETF built to move twice as hard.
• Fee is 1.07% a year, the top of the COIN options-income cluster next to CONY at 1.04% and FIAT at 1.05%.
• A 2025 launch, still small and lightly traded, and its implementation currently sits in the lower tier of the COIN income group. Payouts can include return of capital.

Full AAPY profile⁠

Full COYY profile⁠