GPTY vs XLVI

GPTYDYieldMax AI & Tech Portfolio Option Income ETF

XLVIAState Street Health Care Select Sector SPDR Premium Income ETF

In short

GPTY Most YieldMax funds rent exposure to a single stock. GPTY actually owns a focused basket of 15 to 30 AI infrastructure and tech names and sells call spreads against them, so the income comes with a slice of upside still attached.

XLVI Covered calls, pointed at one sector. XLVI owns State Street's health care sector ETF outright, then sells call options on that single fund, turning pharma, device and biotech exposure into a monthly income stream.

Stated mandate

GPTY The Fund seeks current income and capital appreciation through a focused portfolio of approximately 15 to 30 publicly traded AI infrastructure and technology companies. It seeks option income by selling call spreads on portfolio holdings while retaining direct equity exposure.

XLVI State Street describes an actively managed strategy seeking current income while preserving prospects for long-term capital growth. It invests in the State Street Health Care Select Sector SPDR ETF and sells call options on that ETF to generate additional income.

Why people hold it

• GPTY Holds the shares outright. Direct equity in roughly 15 to 30 AI infrastructure and tech companies, not a synthetic stand-in for them.yieldmaxetfs.com
• Sells call spreads, not plain calls. That collects less premium than writing naked calls, but leaves room above the short strike instead of selling every dollar of upside.yieldmaxetfs.com
• Income arrives on a weekly declared cadence, and the option-writing engine that funds it is spelled out in the fund's own documents.yieldmaxetfs.com

• XLVI One holding, one overlay: it owns the health care sector ETF and writes calls on that same fund rather than on dozens of individual names, so the income engine is easy to follow.ssga.com
• Income lands monthly, and State Street discloses up front that distributions can include return of capital, so you know what can be inside the check.
• The 0.35% fee sits right at the median for sector covered-call funds, and it buys an actively managed options sleeve instead of a fixed formula.
• Part of a same-priced sector suite (utilities XLUI, energy XLEI), so you can pick the sector and keep the mechanics identical. This one ranks among the strongest builds in that group.

Worth knowing

• GPTY The 1.06% fee runs about three times the 0.35% charged by sector-overlay income peers such as XLVI and XLUI.
• The issuer discloses that payouts can include return of capital, so part of a distribution may be your own money coming back rather than earnings.yieldmaxetfs.com
• Launched in 2025 around one narrow theme, so the record is short and a handful of AI names drive what the portfolio does.

• XLVI Selling calls means selling upside. The premium is paid for by giving up part of the gain when health care runs hard, which is the core trade in this design.ssga.com
• Launched in 2025, so the track record is short and the fund is still building scale. Worth eyeing the bid-ask spread before trading.
• Single-sector concentration: everything rides on S&P 500 health care names, from drug pricing policy to FDA outcomes and patent cliffs.ssga.com

Full GPTY profile⁠

Full XLVI profile⁠