AMYY vs KWIN

AMYYDGraniteShares YieldBOOST AMD ETF

KWINAKraneShares Wahed Alternative Income Index ETF

In short

AMYY Most AMD income funds sell calls on the stock. AMYY flips it: the fund sells puts on a leveraged ETF tracking twice AMD's daily move, where premiums run richer, and pays the proceeds out as income.

KWIN An income fund built for investors who can't own interest. KWIN holds stocks, then sells calls and buys puts on each one, aiming for a delta-neutral book whose payout comes from options premium instead of a coupon.

Stated mandate

AMYY AMYY seeks income by selling options, primarily put options, on leveraged ETFs designed to deliver twice the daily performance of Advanced Micro Devices, Inc. It also seeks indirect exposure to that leveraged ETF, with gains subject to a cap.

KWIN KWIN seeks alternative option income by holding long positions in selected equities while selling calls and buying puts against each position. The strategy is intended to produce a delta-neutral portfolio and is marketed as an alternative to traditional interest income.

Why people hold it

• AMYY The engine is unusual. Rather than write calls on AMD shares, it sells puts on a leveraged ETF that targets twice AMD's daily move, where option premiums are typically fatter.graniteshares.com
• At 1.07%, the fee sits right at the median for single-stock options-income ETFs. The closest AMD-based rival, AMDY, runs about 1.00%.
• It is a standard 1940 Act fund holding collateral and options, not a bank-issued note, so payouts do not depend on an issuer's credit standing.graniteshares.com

• KWIN 0.51% a year, less than half the roughly 1.07% median of its options-income cohort. In a category where 1%-plus is the norm, that is a real head start.
• The mechanics are unusually explicit: long a selected stock, short a call, long a put, position by position. The collars are the strategy, not a bolt-on overlay.kraneshares.com
• Tracks the Wahed Shariah Alternative Income Index, so income is sourced from options premium rather than interest. Few option-income ETFs are built to that screen.kraneshares.com
• On cost and measured risk it stands among the strongest implementations in a peer group of 64 single-stock option-income funds.

Worth knowing

• AMYY Gains are capped by design. The indirect exposure to the leveraged ETF carries a ceiling, while written puts leave the fund on the hook for declines below the strike.graniteshares.com
• Distributions can include return of capital, meaning part of a payout may be your own money coming back. The fund discloses this in its documents.graniteshares.com
• Launched in September 2025 and still a small, thinly traded fund, so the record is short and spreads can run wider than on large, heavily traded ETFs.

• KWIN Launched in November 2025. The record is short, so any read on how the collars behave across different markets rests on limited history.
• Delta-neutral by design: the sold calls and bought puts are there to strip out the stock move, not to ride it. This is an income engine, not an equity growth sleeve.
• Trades lightly next to the household names of the category, so spreads can be wider than headline size suggests. Limit orders matter more here.

Full AMYY profile⁠

Full KWIN profile⁠