GDXY vs SLJY

GDXYCYieldMax Gold Miners Option Income Strategy ETF

SLJYBAmplify SILJ Covered Call ETF

In short

GDXY Most gold-income funds write options on bullion. GDXY writes call spreads on the miners instead, collecting premium while leaving room to participate when the shares run past the spread. The option-income playbook, pointed at gold's equity cousin.

SLJY Junior silver miners swing hard. SLJY sells that volatility: an out-of-the-money covered-call overlay on a junior silver miner basket, targeting 18% annualized option premium and paying monthly.

Stated mandate

GDXY GDXY seeks weekly income by selling call spreads on the VanEck Gold Miners ETF (GDX), while retaining participation in GDX share-price appreciation.

SLJY The fund seeks to balance high income and capital appreciation through exposure to junior silver mining companies and a covered-call strategy.

Why people hold it

• GDXY Sells call spreads rather than plain covered calls, so upside is given up inside the strike band while moves beyond it can still come through.
• Targets gold miners (GDX) instead of the metal, unlike cohort peers IAUI, IGLD and YGLD, which build their income around gold itself.
• Actively traded for a fund launched in 2024, and it stands in the upper half of its gold-income options peer group.
• Income is distributed on a recurring schedule rather than saved for a year-end lump, which is the whole design brief here.

• SLJY An income overlay on a corner that rarely gets one: calls written on junior silver miners, targeting 18% annualized option premium, paid monthly. A target, not a guarantee.amplifyetfs.comamplifyetfs.com 2
• Strikes are set above the market rather than at it, so some room for miner rallies stays in the portfolio.amplifyetfs.comamplifyetfs.com 2
• Roughly 50 junior miners plus silver ETP exposure in one ticker, instead of betting on which small explorer makes it.amplifyetfs.com

Worth knowing

• GDXY The 1.00% expense ratio sits right at the cohort median, and cheaper routes to gold option income exist, including YGLD at 0.53% and IAUI at 0.79%.
• Exposure is synthetic: the fund runs an options book on GDX rather than owning miner shares, so the option positions drive what holders actually get.
• Premium collected rises and falls with gold-miner volatility, and with a 2024 launch there is only a short record to judge the strategy against.

• SLJY It runs 0.76% a year against a 0.52% median for precious-metals miner funds, and it trades lightly next to giants like GDX, so spreads can run wider.
• Covered calls trade upside for income: if junior silvers rip past the written strikes, the fund gives back part of that move.amplifyetfs.com
• Amplify discloses distributions can include return of capital, so part of a payout may be principal coming back. Launched in 2025, so the record is short.amplifyetfs.com

Full GDXY profile⁠

Full SLJY profile⁠