AZYY vs KWIN: Grades, Fees and Holdings Compared

GraniteShares YieldBOOST AMZN ETF

AZYYDNasdaq

KraneShares Wahed Alternative Income Index ETF

KWINANYSE Arca

Overlap

0.0%by weight

Expense ratio

KWIN −0.67pt a year

AZYY1.18%KWIN0.51%

Avg volume · 30D

KWIN 5.7×the volume

AZYY2.44KKWIN14K

AZYY vs KWIN Performance

Dec 31, 2025 – Oct 30, 2026

−4.6%AZYY+2.9%KWIN

Expense ratio: AZYY 1.18%; KWIN 0.51%, better
Fund size: AZYY $2M; KWIN $63M
1Y total return: AZYY −11.6%; KWIN No data
Yield (12M): AZYY 55.52%; KWIN No data
Holdings: AZYY 5; KWIN 55
Avg volume (30D): AZYY 2.44K sh; KWIN 14K sh, better
NAV per share: AZYY $14.03; KWIN $25.90
52W range

ETF.net Grade

Pillar letters and Scores for AZYY, KWIN, with each pillar’s weight
Pillar	AZYY	KWIN
Cost30% weight	F19	A100Higher
Mission25% weight	C52	Not scored
Risk15% weight	B59	A86Higher
Tradability15% weight	C46	A70Higher
Holdings10% weight	Not scored	A88
Durability5% weight	C44	B68Higher

Rank among Single-Stock Option Income funds

How we build Categories ›

Same Category. AZYY and KWIN 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 ›

KWIN ranks 1st and AZYY 43rd 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 40CSMYYGraniteShares YieldBOOST SMCI ETFScore 43
Rank 43DAZYYGraniteShares YieldBOOST AMZN ETFScore 40
Rank 43CBBYYGraniteShares YieldBOOST BABA ETFScore 40

Our read on each fund

ETF.net Research

AZYYDGraniteShares YieldBOOST AMZN ETF

KWINAKraneShares Wahed Alternative Income Index ETF

In short

AZYY Most single-stock income funds write calls on the stock. AZYY goes the other way: it sells puts on ETFs built to move 2x Amazon's daily change, harvesting the richer premiums of a leveraged wrapper, with its upside to those ETFs capped by design.

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

AZYY The fund seeks current income by selling put options, directly or through swaps, on leveraged ETFs designed to deliver twice the daily performance of Amazon common stock. It also seeks capped exposure to those leveraged ETFs.

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

AZYY A different engine from the covered-call crowd: it sells put options, directly or through swaps, on ETFs designed to deliver twice Amazon's daily move.graniteshares.com
The 1.07% fee sits right at the going rate for single-stock option-income ETFs, so the exotic mechanics don't carry an exotic price tag.
Built as a registered 1940 Act fund, so it comes with standard ETF plumbing and 1099 reporting rather than a partnership or note structure.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

AZYY The trade is asymmetric by construction: exposure to the leveraged Amazon ETFs is capped on the way up, while their amplified drawdowns are not.graniteshares.com
GraniteShares discloses that payouts can include return of capital, meaning part of a distribution can be your own money coming back to you.graniteshares.com
Launched in 2025 and among the smaller, lightly traded names in its niche, so spreads can be wide and the track record is short. Limit orders matter.

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 AZYY profile⁠

Full KWIN profile⁠

AZYY vs KWIN Holdings

How AZYY and KWIN differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AZYY and 0.0% of KWIN.

Level by level

Asset classAlternatives, Equity0.0%
Holdings0 in both0.0%
Countryby domicile100%

Sector

No Sector split for AZYY and KWIN.

Country, concentration and asset class

Country by domicile

Country weights in AZYY and KWIN, widest gap first
Country	More in AZYYMore in KWIN	AZYY	KWIN
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

AZYY106.6%
KWIN45.8%

Securities held

AZYY4
KWIN54

Asset class

AZYY: Alternatives
KWIN: Equity

Holdings

Only in AZYY4
In both0
Only in KWIN54

Only in AZYY

4 securities, 59.7% of AZYY by weight

US TBill 02/04/202745.64%
US TBill 04/22/202710.05%
2AMZZ 11/04/2026 P29.453.94%
2AMZZ 10/30/2026 P28.110.05%

Only in KWIN

54 securities, 100% of KWIN by weight

Servicenow Inc5.29%
On Semiconductor5.14%
Workday Inc-Class A5.00%
Super Micro Computer Inc4.97%
Intuitive Surgical Inc4.63%
Crowdstrike Holdings Inc - A4.58%
Synopsys Inc4.23%
Fortinet Inc4.02%
Lumentum Holdings Inc4.00%
Palo Alto Networks Inc3.94%
Advanced Micro Devices3.85%
Adobe Inc3.75%
Arista Networks Inc3.69%
Boston Scientific Corp3.66%
Tesla Inc3.64%
Amazon.com Inc3.53%
Autozone Inc3.52%
Intel Corp3.41%
Cadence Design Sys Inc3.40%
Sandisk Corp3.37%
Doordash Inc - A3.35%
Ciena Corp3.28%
Uber Technologies Inc3.26%
Akamai Technologies Inc3.06%
Coherent Corp2.90%
Reddit Inc-Cl A1.40%
Bloom Energy Corp- A1.35%
2SMCI Us 01/15/27 P350.86%
2LITE Us 01/15/27 P9300.84%
2COHR Us 01/15/27 P2700.78%
2SNDK Us 01/15/27 P14200.68%
2CIEN Us 01/15/27 P3700.63%
2ANET Us 01/15/27 P2000.62%
2INTC Us 01/15/27 P1000.58%
2AMD Us 01/15/27 P5800.57%
2SNPS Us 01/15/27 P4800.48%
2DASH Us 01/15/27 P1800.45%
2CRWD Us 01/15/27 P2500.39%
2ON Us 01/15/27 P700.39%
2FTNT Us 01/15/27 P1850.39%
2PANW Us 01/15/27 P3800.35%
2CDNS Us 01/15/27 P3300.32%
2AMZN Us 01/15/27 P2550.27%
2BE Us 01/15/27 P2200.25%
2RDDT Us 01/15/27 P1500.23%
2AKAM Us 01/15/27 P900.22%
2NOW Us 01/15/27 P1350.19%
2UBER Us 01/15/27 P650.18%
2WDAY Us 01/15/27 P1850.16%
2ADBE Us 01/15/27 P2350.15%

Weight gaps

AZYY and KWIN share no securities.

All AZYY holdings⁠All KWIN 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.

AZYY vs KWIN Cost

Overpaying AZYY vs KWIN

$11,378

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

AZYY 1.18%
$21,543
KWIN 0.51%
$10,165

Amount$10,000

Years30 years

Cost over time

AZYY 1.18%
KWIN 0.51%
Overpaying

Year by year

Year	AZYY	KWIN	Overpaying
10	$2,065	$918	$1,147
20	$7,697	$3,527	$4,170
30	$21,543	$10,165	$11,378

Expense ratio

1.18%AZYY
0.51%KWIN, cheaper

KWIN0.51%AZYY1.18%

0.51%1.91%

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

KWIN cheapest of 71 funds

AZYY 48th cheapest of 71 funds

AZYY vs KWIN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AZYY 55.52%; KWIN No data
Payout (12M): AZYY $7.67; KWIN None
Last payment: AZYY $0.10; KWIN No data
Ex-dividend: AZYY Oct 30, 2026; KWIN No data
Paid on: AZYY Pays Nov 3, 2026; KWIN No data
Frequency: AZYY Weekly; KWIN No data

Distribution history

Per share, 2026, same scale for both

AZYYWeekly · 44 paymentsAll AZYY payments⁠

KWINAll KWIN payments⁠

No distribution history available.

AZYY vs KWIN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AZYY 20.4%since Oct 2025KWIN No data
Return per unit of riskSharpe ratio, 3 years: AZYY −0.25since Oct 2025KWIN No data
Worst fallMax drawdown, 5 years: AZYY −23.1%since Sep 2025KWIN No data
Market sensitivityBeta, 5 years: AZYY 0.97KWIN 0.001; Market = 1

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