AAPY vs MSFO

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

MSFOBYieldMax MSFT 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).

MSFO The YieldMax option-income machine pointed at Microsoft rather than a volatility lottery ticket. MSFO sells calls or call spreads on MSFT, putting current income first and share-price participation second.

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.

MSFO The Fund seeks current income and secondary exposure to the share price of Microsoft Corp. (MSFT), using an actively managed strategy that sells call options or call spreads on MSFT to generate weekly income.

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.

• MSFO Blue-chip engine: an actively managed overlay selling calls or call spreads on MSFT, built for current income with Microsoft price exposure as the secondary goal.yieldmaxetfs.com
• Call spreads are on the menu, not just plain short calls, so the manager can leave room for some MSFT upside instead of selling it all away at one strike.yieldmaxetfs.com
• Fee of 1.03% a year sits in the same neighborhood as single-stock income siblings like TSMY and BRKC.
• One of the stronger implementations in a crowded single-stock option-income group, and it has been running since 2023.

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.

• MSFO No Microsoft shares in the box. The exposure is assembled with options, so no dividend or vote, and the short calls trim how much of a big MSFT rally comes through.
• Income rides option premium, so payouts move around with MSFT's options market, and MSFT's declines still flow straight to you.yieldmaxetfs.com
• 1.03% a year is many times what a plain index fund charges. That is the cost of an active options desk rather than a rules-based tracker.

Full AAPY profile⁠

Full MSFO profile⁠