KWIN vs YBST

KWINAKraneShares Wahed Alternative Income Index ETF

YBSTFGraniteShares YieldBoost Single Stock Universe 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.

YBST A one-ticker wrapper on the GraniteShares YieldBOOST suite: funds that sell puts on leveraged single-stock ETFs to harvest outsized premiums, spread across many names instead of riding one.

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.

YBST YBST seeks current income as its primary objective and exposure to a diversified group of YieldBOOST ETFs as its secondary objective. It is actively managed and invests primarily in YieldBOOST ETFs whose options strategies reference U.S.-listed securities.

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.

• YBST One ticker holds the whole YieldBOOST lineup, so income is sourced from many single-stock options strategies rather than one name's volatility.graniteshares.com
• Premiums are large because the options sit on leveraged single-stock ETFs; each trade pairs a near-the-money short put with a further out-of-the-money long put.graniteshares.com
• Income is distributed weekly rather than monthly, per the fund's own documents.graniteshares.com
• GraniteShares charges 0.29% to run the fund itself, in line with the category's cheapest options-income funds such as PAPI.sec.gov

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.

• YBST All-in cost is 1.38%: the 0.29% management fee stacked on 0.99% of underlying-fund fees. Top-graded peers like PAPI and ROCY run under 0.40% total.sec.gov
• Distributions can include return of capital, meaning part of a payout may be your own money coming back rather than earned income.graniteshares.com
• Young and thinly traded: it launched in December 2025, so the record is short and spreads can run wider than in large income ETFs.

Full KWIN profile⁠

Full YBST profile⁠