AAPY vs RGYY

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

RGYYDGraniteShares YieldBoost RGTI 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).

RGYY Most single-stock income funds sell calls on the stock. RGYY flips it: it sells puts on a 2x leveraged Rigetti ETF, converting quantum-computing volatility into option premium, with its own upside capped in exchange.

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.

RGYY The fund seeks income by selling put options, primarily on leveraged ETFs designed to deliver twice the daily performance of Rigetti Computing, Inc. It also seeks 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.

• RGYY The mechanism is the point: puts written on a 2x Rigetti vehicle rather than calls on the shares. Wilder collateral, richer premium.graniteshares.com
• 1.07% expense ratio, sitting right at the middle of what single-stock option-income funds charge rather than above it.
• Income arrives on a set cadence, and GraniteShares states upfront that payouts can include return of capital. No mystery about where the cash comes from.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.

• RGYY Upside is capped by design. Premium is the ceiling, while a 2x wrapper on a speculative quantum name can fall faster than option income accumulates.
• A small, thinly traded fund since its late-2025 launch, so spreads can run wider than in the established single-stock income names like TSMY or BRKC.
• In a crowded field of single-stock overlay funds, it currently lands toward the back on cost, risk and ease of trading.

Full AAPY profile⁠

Full RGYY profile⁠