AAPY vs JPO

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

JPOBYieldMax JP 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).

JPO Most single-stock income funds point their machinery at high-voltage tech. JPO aims the same playbook at JPMorgan Chase: options-based exposure to a megacap bank, written calls for current income, and upside limited by the strategy itself.

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.

JPO The Fund seeks current income and indirect exposure to the share-price returns of JPMorgan Chase & Co., with potential gains limited by its options strategy.

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.

• JPO Same YieldMax playbook, calmer target: a megacap bank instead of a momentum tech name, which puts it among the steadier profiles in a 64-fund single-stock income cohort.
• 1.04% expense ratio, a shade under the typical fee in its options-income cohort and in line with YieldMax siblings like TSMY and BRKC.
• Standard 1940 Act fund built to pay income on a set schedule, so holders get a 1099 instead of a 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.

• JPO It doesn't hold JPMorgan shares. Exposure is synthetic through options, so no stock dividends or voting rights, and the calls it writes limit how much of a rally it captures.
• Distributions can include return of capital, meaning part of a payout may be your own principal coming back rather than earned income.
• Trading is lighter than the lineup's headline tech funds, so spreads can widen; limit orders matter more here than in a mega-cap index ETF.

Full AAPY profile⁠

Full JPO profile⁠