KWIN vs WMTI

KWINAKraneShares Wahed Alternative Income Index ETF

WMTIBREX WMT Growth & Income 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.

WMTI Walmart, wired into an options income engine. WMTI takes synthetic leveraged exposure to WMT (1.05x to 1.5x) and writes calls on only about half of it, so income flows in while part of the position stays uncapped.

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.

WMTI The Fund primarily seeks current income and secondarily seeks exposure to select U.S.-listed securities, with potential investment gains limited.

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.

• WMTI Half the leveraged exposure stays uncovered, leaving part of Walmart's move open instead of selling the whole book away like a traditional full-cover call fund.rexshares.com
• Fully synthetic build: swaps and options replicate Walmart's economics without holding the shares, with out-of-the-money calls sold on roughly half the notional to fund income.rexshares.com
• A 0.99% expense ratio sits under the median for its single-stock options-income cohort, and the overall implementation ranks among the stronger ones in that crowded group.

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.

• WMTI Calls written on about half the notional hand over gains above the strike; the fund's own objective says potential investment gains are limited.rexshares.com
• Leverage cuts both ways: 1.05x to 1.5x exposure amplifies Walmart's down days, and the whole fund rides on one non-diversified name.rexshares.com
• Launched in November 2025, so the track record is short and the fund trades lightly, which can mean wider spreads than category heavyweights.

Full KWIN profile⁠

Full WMTI profile⁠