DRKY vs YLDE

DRKYCVistaShares Target 15 DRUKMacro Distribution ETF

YLDEAFranklin ClearBridge Enhanced Income ETF

In short

DRKY A rules-based mirror of Stanley Druckenmiller's family office: the top 20 US-listed longs from Duquesne's latest 13F, wrapped in an options overlay targeting 15% annual income paid monthly. The fund is not affiliated with Duquesne.

YLDE A 2017 ClearBridge dividend portfolio that had an income engine bolted on in 2025: about 50 large-cap dividend payers, with index calls sold on top for premium. Pays monthly, charges 0.48%, no waiver, below the category median.

Stated mandate

DRKY The actively managed ETF seeks current income and, secondarily, long-term capital appreciation. It combines an equity portfolio based on the BITA VistaShares DRUKMacro Select Index with an options portfolio, targeting 15% annual income distributed monthly.

YLDE The Fund seeks income and long-term capital appreciation through an actively managed enhanced equity-income strategy. It primarily invests in dividend-paying equities and writes U.S. exchange-traded calls on U.S. large-cap equity indices to enhance income.

Why people hold it

• DRKY Copies Duquesne's disclosed top 20 US-listed equity positions by index rule, reconstituted quarterly, so you skip the 13F spreadsheet work.vistashares.com
• Income is the stated first objective, not an afterthought: an options portfolio sits on top of the stocks, targeting 15% a year paid out monthly.
• Roughly 20 names, weighted by their size in Duquesne's book. The portfolio resembles its source rather than diluting it across hundreds of tickers.vistashares.com
• The 0.95% fee lands at the median for actively overlaid options-income ETFs, though cheaper peers run this playbook (PAPI at 0.29%, DIVO at 0.56%).

• YLDE The overlay sits on top of the stock picks, not inside them. Calls are written on U.S. large-cap indices such as the S&P 500, so no single holding has its own upside sold away.franklintempleton.com
• 0.48% with no fee waiver propping it up, below the median for active overlay funds. Cheaper than RDVI at 0.75%, though index-built rivals RECI (0.30%) and TCAL (0.34%) go lower.
• Two desks, two jobs: ClearBridge runs the roughly 50-stock dividend sleeve, while a separate options manager handles the call writing, an arrangement spelled out in the fund's filings.sec.gov
• Income arrives monthly and comes from two places, dividends from the equity sleeve plus premium from written calls, rather than from reaching for the highest-yielding names.franklintempleton.com

Worth knowing

• DRKY 13Fs arrive up to 45 days after quarter-end and cover US-listed longs only. A macro investor's shorts, bonds and currency trades never appear, so you get the stock slice, late.sec.govvistashares.com
• The 15% is a target, not a commitment. Payouts vary month to month and can include return of capital, which reduces NAV over time.vistashares.com
• Launched October 2025 and still small and thinly traded, so the record is short and spreads can run wider than the category's biggest funds.

• YLDE The ticker dates to 2017, but it spent most of that life as a dividend ESG fund. The enhanced-income objective, options overlay and dividend policy changed on February 28, 2025.franklintempleton.com
• Selling index calls trades away part of a sharp market rally for premium collected up front, and that premium offsets losses only as far as it goes in a steep decline.franklintempleton.com
• A thinly traded fund with a smaller asset base than the category's giants, which can mean wider bid/ask spreads than the headline names in derivative income.

Full DRKY profile⁠

Full YLDE profile⁠