COYY vs KWIN

COYYCGraniteShares YieldBOOST COIN ETF

KWINAKraneShares Wahed Alternative Income Index ETF

In short

COYY Most COIN income funds sell options on Coinbase stock. COYY sells them on a 2x Coinbase ETF instead, aiming to pull twice the premium out of an already jumpy trade, with its upside capped in exchange.

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

COYY The Fund seeks to generate twice the income from selling options on leveraged ETFs designed to deliver twice the daily performance of Coinbase Global, Inc., while also seeking capped exposure to that leveraged ETF’s performance.

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

• COYY The twist: premiums come from options on a 2x Coinbase ETF, not COIN itself, so the fund is harvesting a fatter volatility surface by design.graniteshares.com
• It isn't income-only. The mandate also seeks capped exposure to the leveraged ETF's performance, so shareholders keep a slice of the move.graniteshares.com
• Exotic engine, ordinary plumbing: a 1940 Act ETF you trade in a brokerage account, with 1099 tax reporting rather than a partnership K-1.

• 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

• COYY The payoff is lopsided by construction. Gains are capped, while the fund still shoulders declines in a Coinbase ETF built to move twice as hard.
• Fee is 1.07% a year, the top of the COIN options-income cluster next to CONY at 1.04% and FIAT at 1.05%.
• A 2025 launch, still small and lightly traded, and its implementation currently sits in the lower tier of the COIN income group. Payouts can include return of capital.

• 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 COYY profile⁠

Full KWIN profile⁠