GRNI vs YLDE

GRNICFundstrat Granny Shots US Large Cap & Income ETF

YLDEAFranklin ClearBridge Enhanced Income ETF

In short

GRNI Fundstrat's Granny Shots research brand, wrapped in an options-income ETF. Active US large caps up top, an options overlay for cash below, Treasuries in the mix. Income is the stated first job here; appreciation is the second.

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

GRNI The actively managed fund primarily seeks current income through options strategies and secondarily seeks long-term capital appreciation from U.S. large-cap equities, while maintaining cash or U.S. Treasuries.

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

• GRNI The priority is written into the mandate: current income first via options strategies, long-term appreciation from US large caps second, with cash or Treasuries held alongside.
• Distributions are declared on a monthly schedule, the cadence income-focused holders tend to budget around.
• Fully active, no index to hug: the manager picks the large caps and decides which options get written, under the Fundstrat Granny Shots banner.
• Standard 1940 Act fund structure, the same wrapper used by mainstream stock ETFs.

• 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

• GRNI At 0.99% a year it sits above the 0.95% median for options-income funds, and well above cheaper peers in the group such as PAPI (0.29%) and DIVO (0.56%).
• It launched in November 2025, so there is little history showing how the overlay behaves across a full market cycle.
• Writing options trades away part of a rally for premium, and the cash collected moves with those premiums rather than arriving as a fixed amount.

• 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 GRNI profile⁠

Full YLDE profile⁠