JUCY vs TLTI

JUCYBAptus Enhanced Yield ETF

TLTICNEOS Enhanced Income 20+ Year Treasury Bond ETF

In short

JUCY Treasuries with a payout target attached. Aptus pairs U.S. government fixed income with an income overlay and, per its own shareholder report, aims to keep monthly distributions in roughly the 5% to 12% range, topping up with return of capital when income runs short.

TLTI TLTI takes an odd route to Treasury income: it holds 20+ year Treasuries and sells S&P 500 put spreads on the side, so the payout leans on equity volatility while the bond leg keeps its own upside. Distributions monthly.

Stated mandate

JUCY The retrieved SEC material establishes that JUCY's pre-June 24, 2025 fixed-income and equity-linked-note strategy no longer represents its current objective. The replacement objective is not stated in the available evidence.

TLTI The Fund seeks monthly income through a portfolio focused on U.S. Treasury securities with maturities of at least 20 years, supplemented by an actively managed S&P 500 put-option strategy.

Why people hold it

• JUCY The payout policy is written down, not improvised: relatively stable monthly distributions targeted at roughly 5% to 12% a year rather than whatever coupons and premiums happen to land.sec.gov
• The foundation is U.S. government fixed income, not corporate credit, and the fund grades itself against the Bloomberg U.S. Aggregate Bond Index with a short-dated Treasury index alongside it.sec.gov
• Actively managed by a team that can dial the overlay, and it sits in the upper half of its small group of Treasury-overlay income ETFs. Running since 2022.

• TLTI The income engine sits outside the bonds. Premiums come from SPX put spreads sold against the portfolio, so the long-Treasury sleeve isn't capped by calls written on it.neosfunds.comneosfunds.com 2
• Built for tax-aware income: the SPX index options qualify as Section 1256 contracts, and the fund discloses that distributions have been classified as return of capital.neosfunds.com
• 0.58% is exactly the median fee among Treasury option-income funds, so the active overlay costs the going rate rather than a premium.
• Hands-on options book: the adviser can adjust the written and purchased puts before expiration instead of running a fixed roll on autopilot.neosfunds.com

Worth knowing

• JUCY At 0.60% the fee is mid-pack: TLTX (0.29%), TLTW and BUCK (0.35%) run their versions of Treasury-plus-options income for less.
• Hitting the distribution target can involve return of capital: the fund states it may pay some back when monthly payouts exceed the income it earned. That trims your cost basis.sec.gov
• The strategy was reworked in mid-2025, so the record spans two different recipes. The earlier equity-linked-note approach is not what you own today.

• TLTI Two risk dials, not one: 20+ year Treasuries move sharply with rates, and the short S&P 500 puts lose value in an equity selloff (the purchased puts bound how far).neosfunds.com
• Cheaper neighbors exist in the same lane: TLTW runs a buy-write on long Treasuries at 0.35% versus 0.58% here, though it writes calls on the bonds themselves.
• Launched December 2024, still a small fund that trades lightly. Short record to judge, and limit orders plus a glance at the spread are worth the extra click.

Full JUCY profile⁠

Full TLTI profile⁠