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AAPY vs MRA

Kurv Yield Premium Strategy Apple (AAPL) ETF

AAPYACboe

Graniteshares Autocallable Mara ETF

MRAFNasdaq

Overlap

Expense ratio

AAPY −0.19pt a year

AAPY0.99%MRA1.18%

Avg volume · 30D

AAPY 2.2×the volume

AAPY5.85KMRA2.71K

AAPY vs MRA Performance

Jul 31, 2026 – Nov 2, 2026

+11.1%AAPY−30.9%MRA

Jul 31, 2026 to Nov 2, 2026. AAPY +11.1%. MRA −30.9%. Use the arrow keys to read each point.−20%−10%0%20%Jul 2026Sep 2026Nov 2026
Expense ratio
AAPY 0.99%, better
MRA 1.18%
Fund size
AAPY $8M
MRA $2M
1Y total return
AAPY +26.4%
MRA No data
Yield (12M)
AAPY 10.94%
MRA No data
Holdings
AAPY 6
MRA 1
Avg volume (30D)
AAPY 5.85K sh, better
MRA 2.71K sh
NAV per share
AAPY $28.39
MRA $13.80
52W range

ETF.net Grade

AAPY: Cost 77, Risk 77, Mission 100, Tradability 63, Holdings 35, Durability 55. MRA: Cost 19, Risk 32, Mission not scored, Tradability 22, Holdings not scored, Durability 37.
Pillar letters and Scores for AAPY, MRA, with each pillar’s weight
PillarAAPYMRA
Cost30% weightA77HigherF19
Mission25% weightA100Not scored
Risk15% weightA77HigherD32
Tradability15% weightB63HigherF22
Holdings10% weightD35Not scored
Durability5% weightB55HigherD37

Rank among Single-Stock Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AAPY and MRA are both graded against the same 71 Single-Stock Option Income funds, so their Grades compare head to head.

Single-Stock Option Income⁠

Category · 71 funds
See all 71 ›

AAPY ranks 4th and MRA 66th of 71 funds in the Single-Stock Option Income Category.

  1. Rank 1AKWINKraneShares Wahed Alternative Income Index ETFScore 87
  2. Rank 2AACYQFT Vest Autocallable Barrier & High Income ETFScore 85
  3. Rank 3AXXVSimplify Ancorato Target 25 Distribution ETFScore 84
  4. Rank 4AAAPYKurv Yield Premium Strategy Apple (AAPL) ETFScore 79
  5. Rank 5ABRKCYieldMax BRK.B Option Income Strategy ETFScore 70
  6. Rank 66FHMYYGraniteShares YieldBoost HIMS ETFScore 23
  7. Rank 66FMRAGraniteshares Autocallable Mara ETFScore 23
  8. Rank 68FYBSTGraniteShares YieldBoost Single Stock Universe ETFScore 22

Our read on each fund

ETF.net Research

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

MRAFGraniteshares Autocallable Mara 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).

MRA Autocallables are Wall Street's income note: contingent coupons, barrier levels, an early call. GraniteShares pulled that plumbing out of the bank-note wrapper and put it in a 1940 Act ETF, laddered across barriers and wired to MARA Holdings.

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.

MRA The Fund seeks potential monthly income through a laddered portfolio of single-stock autocallable options linked to MARA Holdings Inc. Positions are managed through ongoing rolling, but distributions vary and are not guaranteed.

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.
  • MRA Part of the first US lineup of single-stock autocallable ETFs, a payoff that previously reached most investors as a bank-issued structured note.graniteshares.com
  • No structured notes inside: returns come from OTC options held in a 1940 Act fund that trades on an exchange through any standard brokerage account.graniteshares.comgraniteshares.com 2
  • The portfolio is laddered across different barrier levels, so the income stream does not hinge on one trigger or one observation date.graniteshares.com
  • Fee of 1.07% lands right at the median for single-stock option-income funds, and the manager handles the rolling and reinvestment you would otherwise do by hand.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.
  • MRA Income here is potential, not promised: distributions vary, can include return of capital, and the payoff tracks coupon rules rather than MARA's full move.graniteshares.com
  • Downside protection is limited, not absolute, and the exposure is synthetic, so a deep slide in the reference stock flows through without you owning the shares.graniteshares.com
  • A young fund with a small asset base and light trading, so bid-ask spreads carry more weight than with mainstream income ETFs.

Full AAPY profile⁠

Full MRA profile⁠

AAPY vs MRA Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AAPY vs MRA Cost

Overpaying MRA vs AAPY

$3,018

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AAPY 0.99%

    $18,525

  • MRA 1.18%

    $21,543

$10,000
30 years

Cost over time

  • AAPY 0.99%
  • MRA 1.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530MRA $21,543AAPY $18,525

Year by year

YearAAPYMRAOverpaying
10$1,746$2,065$319
20$6,565$7,697$1,132
30$18,525$21,543$3,018

Expense ratio

  • 0.99%AAPY, cheaper
  • 1.18%MRA
  • Middle half of Single-Stock Option Income funds
  • Median 1.04%

AAPY 9th cheapest of 71 funds

MRA 48th cheapest of 71 funds

AAPY vs MRA Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
AAPY 10.94%
MRA No data
Payout (12M)
AAPY $3.05
MRA No data
Last payment
AAPY $0.25
MRA $0.84
Ex-dividend
AAPY Oct 21, 2026
MRA Oct 7, 2026
Paid on
AAPY Oct 22, 2026
MRA Oct 9, 2026
Frequency
AAPY Monthly
MRA Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

AAPYMonthly · 36 paymentsAll AAPY payments⁠
One bar per payment. 36 payments from 2023 to 2026 YTD. Nov 22, 2023 $0.33; Dec 20, 2023 $0.25; Jan 24, 2024 $0.24; Feb 21, 2024 $0.23; Mar 20, 2024 $0.23; Apr 24, 2024 $0.22; May 22, 2024 $0.24; Jun 26, 2024 $0.27; Jul 24, 2024 $0.28; Aug 21, 2024 $0.30; Sep 25, 2024 $0.30; Oct 23, 2024 $0.29; Nov 20, 2024 $0.29; Dec 24, 2024 $1.75; Jan 23, 2025 $0.30; Feb 19, 2025 $0.30; Mar 19, 2025 $0.30; Apr 16, 2025 $0.25; May 21, 2025 $0.25; Jun 17, 2025 $0.25; Jul 16, 2025 $0.25; Aug 20, 2025 $0.25; Sep 17, 2025 $0.25; Oct 22, 2025 $0.25; Nov 19, 2025 $0.25; Dec 17, 2025 $0.25; Jan 21, 2026 $0.25; Feb 18, 2026 $0.25; Mar 18, 2026 $0.25; Apr 22, 2026 $0.25; May 20, 2026 $0.30; Jun 17, 2026 $0.25; Jul 22, 2026 $0.25; Aug 19, 2026 $0.25; Sep 16, 2026 $0.25; Oct 21, 2026 $0.25. Use the arrow keys to read each point.$0$220232026YTD
MRAMonthly · 5 paymentsAll MRA payments⁠
One bar per payment. 5 payments from 2023 to 2026 YTD. Jun 3, 2026 $0.85; Jul 1, 2026 $0.87; Aug 12, 2026 $0.86; Sep 9, 2026 $0.85; Oct 7, 2026 $0.84. Use the arrow keys to read each point.$0$220232026YTD

AAPY vs MRA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AAPY 18.4%MRA No data
Return per unit of riskSharpe ratio, 3 years
AAPY 0.84MRA No data
Worst fallMax drawdown, 5 years
AAPY −29.2%since Oct 2023MRA No data
Market sensitivityBeta, 5 years
AAPY 0.75MRA −0.84

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