AAPY vs NFLY: Grades, Fees and Holdings Compared

Kurv Yield Premium Strategy Apple (AAPL) ETF

AAPYACboe

YieldMax NFLX Option Income Strategy ETF

NFLYBNYSE Arca

Overlap

0.0%by weight

Expense ratio

AAPY −0.02pt a year

AAPY0.99%NFLY1.01%

Avg volume · 30D

NFLY 11.3×the volume

AAPY5.85KNFLY65.8K

3Y return · a year

AAPY +11.1pt

AAPY+19.8%NFLY+8.7%

AAPY vs NFLY Performance

Oct 31, 2025 – Oct 30, 2026

+28.3%AAPY−40.8%NFLY

Expense ratio: AAPY 0.99%, better; NFLY 1.01%
Fund size: AAPY $8M; NFLY $28M
1Y total return: AAPY +28.3%, better; NFLY −40.8%
Yield (12M): AAPY 10.78%; NFLY 65.35%, better
Holdings: AAPY 6; NFLY 7
Avg volume (30D): AAPY 5.85K sh; NFLY 65.8K sh, better
NAV per share: AAPY $28.39; NFLY $5.97
52W range

ETF.net Grade

Pillar letters and Scores for AAPY, NFLY, with each pillar’s weight
Pillar	AAPY	NFLY
Cost30% weight	A77Higher	B59
Mission25% weight	A100Higher	A70
Risk15% weight	A77Higher	D38
Tradability15% weight	B63Higher	C48
Holdings10% weight	D35	Not scored
Durability5% weight	B56	A77Higher

Rank among Single-Stock Option Income funds

How we build Categories ›

Same Category. AAPY and NFLY 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 NFLY 21st of 71 funds in the Single-Stock Option Income Category.

Rank 1AKWINKraneShares Wahed Alternative Income Index ETFScore 87
Rank 2AACYQFT Vest Autocallable Barrier & High Income ETFScore 85
Rank 3AXXVSimplify Ancorato Target 25 Distribution ETFScore 84
Rank 4AAAPYKurv Yield Premium Strategy Apple (AAPL) ETFScore 79
Rank 5BBRKCYieldMax BRK.B Option Income Strategy ETFScore 70
Rank 21BMAROYieldMax MARA Option Income Strategy ETFScore 57
Rank 21BNFLYYieldMax NFLX Option Income Strategy ETFScore 57
Rank 21BPLTYYieldMax PLTR Option Income Strategy ETFScore 57

Our read on each fund

ETF.net Research

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

NFLYBYieldMax NFLX 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).

NFLY NFLY never buys a share of Netflix. It builds the position synthetically with options, then sells calls against it, turning one of the market's twitchiest large caps into option premium. Pops get capped. Drops don't.

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.

NFLY The Fund seeks current income and exposure to Netflix, Inc.’s share-price returns, subject to limited participation in potential gains. It uses synthetic covered-call or covered-call-spread strategies to generate option premiums.

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.gov sec.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.

NFLY At 1.01%, it is the cheaper of the two Netflix option-income ETFs (NFLP charges 1.15%) and sits under the median fee for single-stock option-income funds.
Launched in 2023, an early entrant in single-name option income, with a multi-year record of running the strategy through Netflix earnings nights.
In a crowded field of single-stock overlay funds, this one lands in the upper tier of its peer group on our review.

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.

NFLY Selling calls caps how much of a Netflix rally you keep, while a slide in the stock flows through nearly in full.yieldmaxetfs.com
Distributions can include return of capital, meaning part of a payout is your own money coming back and it trims your cost basis.yieldmaxetfs.com
The 1.01% fee pays for the options machinery, several times what a plain equity index fund charges, and it applies whether premiums are fat or thin.

Full AAPY profile⁠

Full NFLY profile⁠

AAPY vs NFLY Holdings

How AAPY and NFLY differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AAPY and 0.0% of NFLY.

Level by level

Asset classEquity, Alternatives0.0%
Holdings0 in both0.0%
Countryby domicile100%

Sector

No Sector split for AAPY and NFLY.

Country, concentration and asset class

Country by domicile

Country weights in AAPY and NFLY, widest gap first
Country	More in AAPYMore in NFLY	AAPY	NFLY
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

AAPY101.0%
NFLY126.3%

Securities held

AAPY6
NFLY6

Asset class

AAPY: Equity
NFLY: Alternatives

Holdings

Only in AAPY6
In both0
Only in NFLY6

Only in AAPY

6 securities, 100% of AAPY by weight

United States Treasury Bill 03/18/202729.73%
United States Treasury Bill 12/24/202627.52%
United States Treasury Bill 06/10/202726.99%
Aapl 12/18/2026 310 C11.01%
Aapl 12/18/2026 220 C4.91%
Fidelity Inv Mmkt Govt-I 12/31/20310.82%

Only in NFLY

6 securities, 100% of NFLY by weight

United States Treasury Bill 07/08/202759.81%
United States Treasury Note/Bond 2.375% 05/15/202731.62%
United States Treasury Bill 02/18/202728.70%
First American Government Obligations Fund 12/01/20311.34%
Nflx Us 11/06/26 C650.41%
Nflx 11/20/2026 77.01 C0.13%

Weight gaps

AAPY and NFLY share no securities.

All 9 AAPY holdings⁠All 8 NFLY 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 NFLY Cost

Overpaying NFLY vs AAPY

$325

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

AAPY 0.99%
$18,525
NFLY 1.01%
$18,850

Amount$10,000

Years30 years

Cost over time

AAPY 0.99%
NFLY 1.01%
Overpaying

Year by year

Year	AAPY	NFLY	Overpaying
10	$1,746	$1,780	$34
20	$6,565	$6,686	$121
30	$18,525	$18,850	$325

Expense ratio

0.99%AAPY, cheaper
1.01%NFLY

AAPY0.99%NFLY1.01%

0.51%1.91%

Middle half of Single-Stock Option Income funds
Median 1.04%

AAPY 9th cheapest of 71 funds

NFLY 25th cheapest of 71 funds

AAPY vs NFLY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AAPY 10.78%; NFLY 65.35%, better
Payout (12M): AAPY $3.05; NFLY $3.89
Last payment: AAPY $0.25; NFLY $0.05
Ex-dividend: AAPY Oct 21, 2026; NFLY Oct 29, 2026
Paid on: AAPY Oct 22, 2026; NFLY Oct 30, 2026
Frequency: AAPY Monthly; NFLY Weekly

Distribution history

Per share, 2026, same scale for both

AAPYMonthly · 10 paymentsAll AAPY payments⁠

NFLYWeekly · 44 paymentsAll NFLY payments⁠

AAPY vs NFLY 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%, betterNFLY 26.8%
Return per unit of riskSharpe ratio, 3 years: AAPY 0.84, betterNFLY 0.28
Worst fallMax drawdown, 5 years: AAPY −29.2%since Oct 2023NFLY −48.8%since Aug 2023
Market sensitivityBeta, 5 years: AAPY 0.75NFLY 0.58; Market = 1

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