BABO vs KWIN: Grades, Fees and Holdings Compared

YieldMax BABA Option Income Strategy ETF

BABOBNYSE Arca

KraneShares Wahed Alternative Income Index ETF

KWINANYSE Arca

Overlap

0.0%by weight

Expense ratio

KWIN −0.49pt a year

BABO1.00%KWIN0.51%

Avg volume · 30D

BABO 2.7×the volume

BABO38.2KKWIN14K

BABO vs KWIN Performance

Dec 31, 2025 – Oct 30, 2026

−30.1%BABO+2.9%KWIN

Expense ratio: BABO 1.00%; KWIN 0.51%, better
Fund size: BABO $12M; KWIN $63M
1Y total return: BABO −36.2%; KWIN No data
Yield (12M): BABO 76.97%; KWIN No data
Holdings: BABO 7; KWIN 55
Avg volume (30D): BABO 38.2K sh, better; KWIN 14K sh
NAV per share: BABO $6.31; KWIN $25.90
52W range

ETF.net Grade

Pillar letters and Scores for BABO, KWIN, with each pillar’s weight
Pillar	BABO	KWIN
Cost30% weight	A77	A100Higher
Mission25% weight	A70	Not scored
Risk15% weight	D37	A86Higher
Tradability15% weight	C48	A70Higher
Holdings10% weight	Not scored	A88
Durability5% weight	B56	B68Higher

Rank among Single-Stock Option Income funds

How we build Categories ›

Same Category. BABO 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 BABO 13th 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 13BAMZYYieldMax AMZN Option Income Strategy ETFScore 62
Rank 13BBABOYieldMax BABA Option Income Strategy ETFScore 62
Rank 13BGOOPKurv Yield Premium Strategy Google (GOOGL) ETFScore 62

Our read on each fund

ETF.net Research

BABOBYieldMax BABA Option Income Strategy ETF

KWINAKraneShares Wahed Alternative Income Index ETF

In short

BABO Alibaba, repackaged as a monthly paycheck. BABO sells weekly call spreads on BABA, trading away part of the upside for option premium, then pays cash out monthly.

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

BABO BABO is actively managed to generate weekly income by selling call spreads on Alibaba Group Holding Ltd (BABA).

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

BABO It sells spreads, not naked calls: a long call sits above the short one, so the upside surrendered above that upper strike is defined rather than open-ended.yieldmaxetfs.com
Premium is written weekly, cash goes out monthly, and the book is actively managed rather than run off a fixed index formula.yieldmaxetfs.com
The fee is 1.00%, at the lower end of the single-stock income crowd and a shade under YieldMax siblings like TSMY and BRKC.
Inside a crowded field of single-stock option income funds, this is one of the stronger implementations of the idea.

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

BABO Everything rides one stock: Alibaba. Premium cushions the ride, but a rough stretch in BABA still shows up here.
Exposure is synthetic, built from options on BABA rather than the shares, so there is no stock ownership, no underlying dividend, and roll mechanics matter.yieldmaxetfs.com
A smaller, lightly traded fund launched in 2024, so quoted spreads can run wider than the headline ETFs and the history to judge it by is short.

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 BABO profile⁠

Full KWIN profile⁠

BABO vs KWIN Holdings

How BABO and KWIN differ

Overlap by weight

0.0%

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

Level by level

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

Sector

No Sector split for BABO and KWIN.

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

BABO136.5%
KWIN45.8%

Securities held

BABO7
KWIN54

Asset class

BABO: Alternatives
KWIN: Equity

Holdings

Only in BABO7
In both0
Only in KWIN54

Only in BABO

7 securities, 100% of BABO by weight

United States Treasury Note/Bond 2.375% 05/15/202763.54%
United States Treasury Bill 02/18/202735.66%
United States Treasury Bill 07/08/202730.19%
Baba 11/20/2026 98.01 C4.53%
First American Government Obligations Fund 12/01/20311.96%
Alibaba Cll Opt 11/26 1040.34%
Baba Us 11/06/26 C1030.25%

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

BABO and KWIN share no securities.

All 16 BABO 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.

BABO vs KWIN Cost

Overpaying BABO vs KWIN

$8,523

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

BABO 1.00%
$18,688
KWIN 0.51%
$10,165

Amount$10,000

Years30 years

Cost over time

BABO 1.00%
KWIN 0.51%
Overpaying

Year by year

Year	BABO	KWIN	Overpaying
10	$1,763	$918	$845
20	$6,625	$3,527	$3,098
30	$18,688	$10,165	$8,523

Expense ratio

1.00%BABO
0.51%KWIN, cheaper

KWIN0.51%BABO1.00%

0.51%1.91%

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

KWIN cheapest of 71 funds

BABO 20th cheapest of 71 funds

BABO vs KWIN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BABO 76.97%; KWIN No data
Payout (12M): BABO $4.85; KWIN None
Last payment: BABO $0.04; KWIN No data
Ex-dividend: BABO Oct 29, 2026; KWIN No data
Paid on: BABO Oct 30, 2026; KWIN No data
Frequency: BABO Weekly; KWIN No data

Distribution history

Per share, 2026, same scale for both

BABOWeekly · 44 paymentsAll BABO payments⁠

KWINAll KWIN payments⁠

No distribution history available.

BABO vs KWIN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BABO 40.7%since Sep 2024KWIN No data
Return per unit of riskSharpe ratio, 3 years: BABO 0.11since Sep 2024KWIN No data
Worst fallMax drawdown, 5 years: BABO −42.3%since Aug 2024KWIN No data
Market sensitivityBeta, 5 years: BABO 0.50KWIN 0.001; Market = 1

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