KWIN vs PLTY

KWINAKraneShares Wahed Alternative Income Index ETF

PLTYBYieldMax PLTR Option Income Strategy ETF

In short

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.

PLTY Palantir's volatility is the raw material here. PLTY writes calls on PLTR and turns the premium into cash income, holding options and short-term Treasuries rather than the stock itself.

Stated mandate

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.

PLTY The Fund seeks current income while providing indirect exposure to PLTR's share-price returns. The strategy generally limits potential investment gains.

Why people hold it

• 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.

• PLTY Built on one of the market's loudest, most volatile large caps, where option premiums run rich. Treasury bills sit underneath as collateral and add their own income.sec.govyieldmaxetfs.com
• The 1.07% fee lands right at the median for single-stock option-income funds, so the Palantir version costs no more than the rest of the shelf.
• Sits in the upper half of a crowded field of single-stock income overlays, a category where plenty of look-alikes launched and few stand out.

Worth knowing

• 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.

• PLTY Lopsided by design: sold calls cap the upside, while sold at-the-money puts pass through the full extent of PLTR's share-price losses.sec.gov
• Part of a payout can be return of capital, meaning your own money handed back rather than income the fund earned.yieldmaxetfs.comyieldmaxetfs.com 2
• You never own Palantir. Exposure runs through options on the stock, so there are no shareholder rights and results hinge on the options book.sec.gov

Full KWIN profile⁠

Full PLTY profile⁠