AAPY vs HMYY

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

HMYYFGraniteShares YieldBoost HIMS 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).

HMYY Most single-stock income funds write options on the stock. HMYY goes a layer up, selling options tied to a leveraged Hims & Hers ETF to harvest the fatter premiums that come with amplified swings, in exchange for a cap on 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.

HMYY The fund seeks income by selling options on leveraged ETFs linked to Hims & Hers Health, Inc., while gaining exposure to that leveraged ETF subject to a cap on potential gains.

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.

• HMYY The engine is the twist: income comes from selling options on leveraged ETFs linked to Hims & Hers, where bigger daily moves mean richer option premiums than the stock alone offers.graniteshares.com
• Distributions are paid monthly, sourced from the options overlay rather than from any dividend at Hims & Hers.
• The 1.07% expense ratio lands right at the median for single-stock option-income funds, so the leveraged wrinkle does not carry a surcharge versus the pack.

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.

• HMYY Two risk layers stack: one healthcare stock, then a leveraged ETF on top of it. Declines travel the full amplified distance while gains stop at the cap.
• Launched in December 2025, so there is no long record showing how the strategy behaves through a full market cycle.
• A small fund that trades lightly, so spreads can be wider than with big index products. Limit orders are the norm here.

Full AAPY profile⁠

Full HMYY profile⁠