AAPY vs CRCO

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

CRCOBYieldMax CRCL 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).

CRCO Most single-stock income funds sell calls and cap the upside. CRCO sells weekly call spreads on Circle (CRCL) instead, harvesting premium while keeping a lane open to share-price appreciation, and it pays monthly.

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.

CRCO CRCO is actively managed to generate weekly income by selling call spreads on Circle Internet Group Inc. The strategy seeks to harvest CRCL option premiums while retaining participation in its 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.

• CRCO Spreads, not plain covered calls. Selling a call and buying a higher one collects premium while leaving room to participate in CRCL's share-price gains above the short strike.yieldmaxetfs.com
• Weekly premium harvest, monthly payout. The options book is worked on a weekly cycle and distributions land on a monthly cadence.
• A 1.01% expense ratio undercuts CRY, the other fund built on the same Circle income idea, and matches YieldMax siblings like TSMY and BRKC.
• Sits in the upper half of a crowded field of single-stock option-income funds, one of the tidier builds in that group.

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.

• CRCO Exposure is synthetic. The fund reaches CRCL through options rather than owning the shares, so you are holding a derivatives book, not the stock.
• One name carries everything. Circle Internet Group's price action drives both the premium the fund collects and the value of what it holds.
• Launched in 2025 and actively managed, so the track record is short and payouts move with whatever CRCL options premiums happen to be.

Full AAPY profile⁠

Full CRCO profile⁠