GOOY vs KWIN

GOOYBYieldMax GOOGL Option Income Strategy ETF

KWINAKraneShares Wahed Alternative Income Index ETF

In short

GOOY GOOY doesn't own Alphabet. It rents it out. Options build the GOOGL exposure, and sold call spreads turn the stock's swings into a weekly paycheck while leaving some room to ride the shares higher.

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

GOOY GOOY seeks weekly income by selling call spreads on Alphabet Inc. (GOOGL), while maintaining participation in GOOGL’s share-price appreciation.

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

• GOOY Call spreads instead of plain written calls: the fund sells away a defined slice of upside, so it still aims to participate in GOOGL's share-price appreciation.yieldmaxetfs.com
• The income comes from harvesting option premium on Alphabet's volatility, not from dividends, and the fund intends to pay it out on a weekly schedule.yieldmaxetfs.com
• One of the more actively traded names in a crowded single-stock income field, so getting a fill usually isn't the hard part.
• Running since 2023, it's an early entry in the single-stock income wave and sits in the stronger half of that peer group on our review.

• 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

• GOOY The 1.14% expense ratio runs a little above the typical fund in this category, and that tab is paid whether or not the premium engine cooperates.
• It all rides on one company. Exposure is built with options rather than Alphabet shares, so there's no diversification cushion and no direct ownership of the stock.yieldmaxetfs.com
• Payouts can include return of capital, meaning part of a distribution may be your own money handed back, which trims your cost basis.yieldmaxetfs.com

• 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 GOOY profile⁠

Full KWIN profile⁠