MARO vs XXV

MAROBYieldMax MARA Option Income Strategy ETF

XXVASimplify Ancorato Target 25 Distribution ETF

In short

MARO Income squeezed out of a bitcoin miner that trades like one. Launched in December 2024, MARO sells call spreads on MARA rather than plain covered calls, so the upside it gives away is a band, not everything above one strike.

XXV Structured-note income without the bank. XXV sells barrier put options on single stocks, and sometimes worst-of baskets, chasing an aspirational 25% annualized payout, with the options rolled continuously. The top rung of Simplify's barrier-income ladder.

Stated mandate

MARO The fund seeks weekly income by actively selling call spreads on MARA while retaining participation in MARA share-price appreciation.

XXV XXV seeks high monthly income through selling barrier put options referencing individual stocks, with possible use of worst-of baskets of individual stocks. Its 25% annualized distribution goal is aspirational and not guaranteed.

Why people hold it

• MARO The spread twist: sell one call, own a higher-strike one. The giveaway is limited to the gap between strikes, and the fund keeps participating in MARA above it.
• A 1.00% expense ratio, a touch under the typical single-stock option income fund and under YieldMax's other MARA vehicle, MAAY, at 1.07%.
• One of the stronger builds in a crowded single-stock income cohort, and it trades actively, so getting in and out is rarely the hard part.
• Standard 1940 Act fund wrapper with income as the stated goal: distributions on a regular schedule, a 1099 at tax time, no K-1 paperwork.

• XXV 0.85% a year sits below the going rate in its single-stock options-income cohort, where peers like BRKC and TSMY run near 1%.
• Options are rolled automatically and continuously, and the ETF wrapper strips out the bank credit risk you take on with a traditional structured note.simplify.ussimplify.us 2
• Built around cash flow: barriers are adjusted to levels designed to support a 25% annualized distribution target, paid monthly.simplify.us
• Sub-advised by Ancorato Capital, a structured-products specialist, and one of the stronger implementations in a crowded options-income field.simplify.us

Worth knowing

• MARO Everything rides on one bitcoin miner. No diversification, and the fund's measured risk sits at the wild end of its peer group.
• MARA exposure comes through options, not shares. You hold a fund, not the stock, and the spread narrows the upside cap without removing it.
• Payouts come from option premiums, which rise and fall with MARA's volatility. The income stream is variable by design.

• XXV Barriers cushion, they do not erase. Selling puts on single stocks means the fund wears the loss when a reference name breaks through its barrier.simplify.us
• The 25% figure is an aspirational goal, not a promise, and distributions may include return of capital, which is your own money coming back.
• Launched in late 2025 and thinly traded, so bid-ask spreads can cost more than the expense ratio on the way in and out.

Full MARO profile⁠

Full XXV profile⁠