AAPY vs TMYY

AAPYAKurv Yield Premium Strategy Apple (AAPL) ETF

TMYYCGraniteShares YieldBOOST TSM 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).

TMYY Most single-stock income funds write options on the stock. TMYY goes one layer deeper, selling options on a 2x daily TSM ETF and paying monthly, with its upside on that leveraged ETF capped.

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.

TMYY The Fund seeks income by selling options on leveraged ETFs linked to the 2x daily performance of Taiwan Semiconductor Manufacturing Co Ltd., while also seeking exposure to that leveraged ETF subject to a gain cap.

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.

• TMYY The premium engine runs on a 2x daily TSM ETF, not TSM shares. More movement in the underlying means richer option premiums, which is the whole point of the YieldBOOST design.graniteshares.com
• Distributions are paid monthly, so income arrives on a regular schedule rather than a quarterly drip.
• The 1.07% fee sits right around what single-stock option-income ETFs generally charge, so the extra derivatives plumbing isn't priced at a markup.
• Plain 1940 Act fund wrapper, so tax reporting comes on a 1099 rather than a partnership K-1.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.

• TMYY Upside is capped by design. Gains on the leveraged ETF stop at the fund's gain cap, so a big TSM run doesn't flow through in full.graniteshares.com
• Concentration is the trade: one chipmaker, geared 2x daily. Drawdowns land magnified, with no diversification to soften them.
• Launched in 2026, still small and lightly traded. Spreads can run wider and the track record is far shorter than at established peers like TSMY.

Full AAPY profile⁠

Full TMYY profile⁠