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PAYR vs SLTY

Federated Hermes Enhanced Income ETF

PAYRACboe

YieldMax Ultra Short Option Income Strategy ETF

SLTYFNYSE Arca

Overlap

Expense ratio

PAYR −0.85pt a year

PAYR0.40%SLTY1.25%

Avg volume · 30D

SLTY 1.02×the volume

PAYR18.1KSLTY18.5K

PAYR vs SLTY Performance

Oct 31, 2025 – Oct 30, 2026

+25.2%PAYR−5.5%SLTY

Oct 31, 2025 to Oct 30, 2026. PAYR +25.2%. SLTY −5.5%. Use the arrow keys to read each point.0%5%10%15%20%Oct 2025Apr 2026Oct 2026
Expense ratio
PAYR 0.40%, better
SLTY 1.25%
Fund size
PAYR $91M
SLTY $18M
1Y total return
PAYR +25.2%, better
SLTY −5.5%
Holdings
PAYR 58
SLTY 34
Avg volume (30D)
PAYR 18.1K sh
SLTY 18.5K sh, better
NAV per share
PAYR $56.43
SLTY $18.95
52W range

ETF.net Grade

PAYR: Cost 92, Risk 75, Mission not scored, Tradability 56, Holdings 73, Durability 55. SLTY: Cost 8, Risk 29, Mission not scored, Tradability 29, Holdings not scored, Durability 55.
Pillar letters and Scores for PAYR, SLTY, with each pillar’s weight
PillarPAYRSLTY
Cost30% weightA92HigherF8
Mission25% weightNot scoredNot scored
Risk15% weightA75HigherD29
Tradability15% weightB56HigherD29
Holdings10% weightA73Not scored
Durability5% weightB55B55

Rank among Active Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PAYR and SLTY are both graded against the same 50 Active Option Income funds, so their Grades compare head to head.

Active Option Income⁠

Category · 50 funds
See all 50 ›

PAYR ranks 4th and SLTY 44th of 50 funds in the Active Option Income Category.

  1. Rank 1ARECIColumbia Research Enhanced Core Premium Income ETScore 83
  2. Rank 2ATCALT. Rowe Price Capital Appreciation Premium Income ETFScore 80
  3. Rank 2AYLDEFranklin ClearBridge Enhanced Income ETFScore 80
  4. Rank 4APAYRFederated Hermes Enhanced Income ETFScore 76
  5. Rank 4ARDVIFT Vest Rising Dividend Achievers Target Income ETFScore 76
  6. Rank 43FMEMYTuttle Capital Meme Stock Income Blast ETFScore 23
  7. Rank 44FSLTYYieldMax Ultra Short Option Income Strategy ETFScore 21
  8. Rank 45FULTIREX IncomeMax Option Strategy ETFScore 17

Our read on each fund

ETF.net Research

PAYRAFederated Hermes Enhanced Income ETF

SLTYFYieldMax Ultra Short Option Income Strategy ETF

In short

PAYR No data

SLTY Most option income funds sell calls on stocks they own. SLTY flips it: short exposure to 15 to 30 high-volatility US names, with put strategies written against them. The bear side of the YieldMax playbook.

Stated mandate

PAYR No data

SLTY The Fund seeks current income and inverse exposure to the share price of select U.S.-listed securities, with participation in potential gains subject to limits.

Why people hold it

PAYR No data

  • SLTY Short (inverse) exposure to 15 to 30 US-listed names picked mainly on implied volatility, with options sold on those same names: bearish tilt plus premium harvesting in one wrapper.yieldmaxetfs.com
  • No margin account or stock borrow to arrange yourself. The short book is built directly or synthetically with options inside a 1940 Act ETF, at a declared -1x exposure.yieldmaxetfs.com
  • Actively rotated, not one fixed overlay: the adviser can move among covered puts, calendar put spreads and debit spreads as its outlook shifts.sec.govyieldmaxetfs.com
  • Option premium funds the payout, which lands on YieldMax's weekly distribution schedule.yieldmaxetfs.com

Worth knowing

PAYR No data

  • SLTY Costs 1.25% net of a waiver through February 28, 2027 (1.35% gross), above the category median; RECI charges 0.30%. It is also a small, thinly traded fund.
  • Payouts can include a large share of return of capital, which hands back part of your own money and can drag NAV lower over time. The headline rate is not interest earned.yieldmaxetfs.comyieldmaxetfs.com 2
  • Direction cuts both ways: built to rise when its names fall and fall when they rally, and the options sold against the book limit how much of a decline it keeps.yieldmaxetfs.com

Full PAYR profile⁠

Full SLTY profile⁠

PAYR vs SLTY Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PAYR vs SLTY Cost

Overpaying SLTY vs PAYR

$14,525

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PAYR 0.40%

    $8,090

  • SLTY 1.25%

    $22,615

$10,000
30 years

Cost over time

  • PAYR 0.40%
  • SLTY 1.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530SLTY $22,615PAYR $8,090

Year by year

YearPAYRSLTYOverpaying
10$723$2,181$1,458
20$2,793$8,105$5,312
30$8,090$22,615$14,525

Expense ratio

  • 0.40%PAYR, cheaper
  • 1.25%SLTY
  • Middle half of Active Option Income funds
  • Median 0.95%

PAYR 5th cheapest of 50 funds

SLTY 46th cheapest of 50 funds

PAYR vs SLTY Dividends

Last 12 months to Oct 30, 2026
Last payment
PAYR $0.29
SLTY $0.21
Ex-dividend
PAYR Oct 30, 2026
SLTY Oct 28, 2026
Paid on
PAYR Pays Nov 2, 2026
SLTY Oct 29, 2026
Frequency
PAYR Monthly
SLTY Weekly

Distribution history

Per share, 2026, same scale for both

PAYRMonthly · 10 paymentsAll PAYR payments⁠
One bar per payment. 10 payments in 2026 YTD. Jan 30, 2026 $0.29; Feb 27, 2026 $0.33; Mar 31, 2026 $0.57; Apr 30, 2026 $0.18; May 29, 2026 $0.49; Jun 30, 2026 $0.46; Jul 31, 2026 $0.33; Aug 31, 2026 $0.32; Sep 30, 2026 $0.38; Oct 30, 2026 $0.29. Use the arrow keys to read each point.$0$0.502026YTD
SLTYWeekly · 42 paymentsAll SLTY payments⁠
One bar per payment. 42 payments in 2026 YTD. Jan 7, 2026 $0.41; Jan 14, 2026 $0.36; Jan 21, 2026 $0.35; Feb 4, 2026 $0.38; Feb 11, 2026 $0.37; Feb 18, 2026 $0.37; Feb 25, 2026 $0.37; Mar 4, 2026 $0.36; Mar 11, 2026 $0.39; Mar 18, 2026 $0.40; Mar 25, 2026 $0.46; Apr 1, 2026 $0.40; Apr 8, 2026 $0.37; Apr 15, 2026 $0.35; Apr 22, 2026 $0.33; Apr 29, 2026 $0.31; May 6, 2026 $0.30; May 13, 2026 $0.30; May 20, 2026 $0.32; May 27, 2026 $0.32; Jun 3, 2026 $0.31; Jun 10, 2026 $0.28; Jun 17, 2026 $0.25; Jun 24, 2026 $0.25; Jul 1, 2026 $0.27; Jul 8, 2026 $0.25; Jul 15, 2026 $0.24; Jul 22, 2026 $0.24; Jul 29, 2026 $0.24; Aug 5, 2026 $0.25; Aug 12, 2026 $0.23; Aug 19, 2026 $0.22; Aug 26, 2026 $0.22; Sep 2, 2026 $0.22; Sep 9, 2026 $0.22; Sep 16, 2026 $0.22; Sep 23, 2026 $0.22; Sep 30, 2026 $0.22; Oct 7, 2026 $0.22; Oct 14, 2026 $0.21; Oct 21, 2026 $0.21; Oct 28, 2026 $0.21. Use the arrow keys to read each point.$0$0.502026YTD

PAYR vs SLTY Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PAYR 14.6%since Nov 2025SLTY 15.8%since Sep 2025
Return per unit of riskSharpe ratio, 3 years
PAYR 1.36since Nov 2025SLTY −1.20since Sep 2025
Worst fallMax drawdown, 5 years
PAYR −7.0%since Oct 2025SLTY −21.3%since Aug 2025
Market sensitivityBeta, 5 years
PAYR 0.01SLTY −0.88

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