GOLY vs SLJY

GOLYCStrategy Shares Gold Enhanced Yield ETF

SLJYBAmplify SILJ Covered Call ETF

In short

GOLY Most gold income funds sell calls on the metal. GOLY runs the other way: a corporate bond and Treasury sleeve stacked with roughly dollar-for-dollar notional gold exposure, with premiums harvested by writing puts on commodity futures.

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

GOLY The fund seeks both income and long-term capital 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

• GOLY The gold leg is not written against. Income comes from the bond sleeve and from selling put options on commodity futures, so the metal exposure itself stays uncapped.sec.gov
• Two engines, one ticker: about 100% market-value exposure to corporate bonds and Treasuries plus roughly 100% notional gold exposure via futures and total return swaps.sec.govsec.gov 2
• Pays monthly by design. The board-adopted policy targets a management-set monthly rate and discloses each month how much came from income, gains or return of capital.sec.gov

• 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

• GOLY Costs 0.90%, no waiver, near the median of its 12-fund category, but several gold-income peers run cheaper (YGLD at 0.62%, IAUI at 0.79%).
• That stacked exposure is built with leverage through a Cayman subsidiary outside 1940 Act protections, and the filings state the fund could sustain significant losses.sec.govsec.gov 2
• Launched 2021 as a gold-hedged bond index fund; the active enhanced-yield strategy dates to January 5, 2025, and it trades thinly, so spreads can widen.sec.gov

• 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 GOLY profile⁠

Full SLJY profile⁠