HOOY vs KWIN

HOOYBYieldMax HOOD Option Income Strategy ETF

KWINAKraneShares Wahed Alternative Income Index ETF

In short

HOOY Most single-stock income funds sell calls and slam the lid on upside. HOOY sells call spreads on Robinhood stock, harvesting option premium while keeping a slice of the move above the short strike.

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

HOOY The fund seeks weekly income by selling call spreads on HOOD while retaining some participation in HOOD'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

• HOOY The call-spread design is the point: the fund aims for option income while retaining some participation in HOOD's share-price appreciation, rather than capping it flat at one strike.yieldmaxetfs.com
• 0.99% expense ratio, below the going rate for single-stock option-income funds and under the 1.07% charged by sibling HOOD income fund HOYY.
• Income is the stated mission, on a weekly cadence, and the fund ranks among the stronger implementations in a crowded single-stock overlay peer group.yieldmaxetfs.com

• 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

• HOOY Exposure is synthetic: the fund uses options on HOOD rather than owning the shares, so there are no shareholder rights and no company dividends passed through.
• One stock drives everything. Downside largely follows HOOD, and premium income moves with HOOD's option volatility, so payout size varies period to period.
• Launched in 2025, so the track record is short relative to older option-income strategies.

• 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 HOOY profile⁠

Full KWIN profile⁠