HNDL vs IYLD

HNDLBStrategy Shares Nasdaq 7HANDL Index ETF

IYLDAiShares Morningstar Multi-Asset Income ETF

In short

HNDL An income fund built backwards: rather than hunt high yielders, HNDL holds a basket of ETFs, adds 23% index leverage, and targets a 7% annual payout of NAV, paid monthly. Some of that cash can be return of capital, per the prospectus.

IYLD One ticker, one income engine. IYLD is a fund of iShares funds, bundling equity, bond and other income funds into a single monthly-paying package that has run on the same playbook since 2012.

Stated mandate

HNDL The Fund seeks to track, before fees and expenses, the price and yield performance of the NASDAQ 7 HANDLTM Index.

IYLD The Fund seeks to track an index of underlying equity, fixed-income, and other income funds designed to provide high current income while offering an opportunity for capital appreciation.

Why people hold it

• HNDL The payout is engineered, not scraped off the highest yielders: the index targets a total return able to support a 7% annual distribution rate on NAV, paid in monthly installments.sec.gov
• One ticker, two engines: a fund of roughly 19 ETFs, half a core of U.S. aggregate bonds and equities, half a Dorsey Wright Explore sleeve rotating across 12 asset categories.sec.gov
• Leverage is modest and spelled out: the index applies leverage equal to 23% of the total portfolio through a total return swap, not a daily-reset 2x or 3x structure.sec.gov
• A 2018 original in a crowded payout-target field, with the index rules and the monthly cadence unchanged since launch.sec.gov

• IYLD A single trade buys a whole income lineup: the index it follows is built from underlying equity, fixed-income and other income funds, so the mixing and rebalancing happen inside the wrapper.ishares.com
• 0.50% a year, comfortably below the typical fee in its allocation peer group. Cheap for a multi-asset income build.
• Pays monthly, which lines the cash flow up with how most people actually pay bills.ishares.com
• Hews closely to the Morningstar Multi-Asset High Income Index it targets, one of the tighter index implementations in its peer group. No manager guesswork bolted on top.

Worth knowing

• HNDL At 0.94% with no fee waiver, HNDL sits above the category median on cost; index-built peers IYLD and INKM each run 0.50%.
• Paying a target 7% of NAV regardless of what markets deliver means weak stretches can be funded partly from capital. Holding NAV steady over time is the index's goal, not an assurance.sec.gov
• The swap sleeve cuts both ways: borrowing costs and counterparty exposure ride along, and the 23% leverage magnifies declines as well as gains.sec.gov

• IYLD Small and thinly traded. Expect wider bid-ask spreads than the mega-funds, which matters most on larger orders.
• Income comes first here: capital appreciation is the secondary goal in its own objective, so it is built differently from a growth-tilted allocation fund.
• Broad allocation rivals cost far less (IRTR at 0.08%, AOA at 0.19%), though neither is built around high current income.

Full HNDL profile⁠

Full IYLD profile⁠