ROCY vs SPIN

ROCYAJPMorgan Equity Premium Yield ETF

SPINAState Street US Equity Premium Income ETF

In short

ROCY JPMorgan's second act in option income: the same S&P 500 team behind JEPI, but the premium comes from selling call spreads instead of notes, so a slice of upside above the short strike stays in play. 0.35% all in.

SPIN State Street's take on the covered-call boom: an actively picked book of large- and mid-cap US stocks with index calls written over the top, priced at 0.25% a year, a fraction of the typical options-income fee.

Stated mandate

ROCY Seeks current yield while retaining prospects for capital appreciation and total return. It combines a U.S. large-cap equity portfolio with a call-spread overlay intended to generate monthly distributions and reduce volatility.

SPIN SPIN seeks current income while retaining potential for long-term growth. It actively invests in large- and mid-cap U.S. stocks selected for fundamentals, valuation, and growth prospects, while dynamically selling calls on a U.S. large-cap exposure such as the S&P 500 to add monthly income.

Why people hold it

• ROCY Costs 0.35% a year, against a roughly 0.95% median for actively managed options-income funds and DIVO's 0.56%.jpmorgan.com
• Sells a call and buys a higher-strike one, so the ceiling on gains is a band rather than a hard stop above the short strike.jpmorgan.com
• Run by the same U.S. Core Equity and derivatives group behind JEPI and JEPQ, led by Hamilton Reiner.jpmorgan.com
• Stands among the stronger builds in a crowded field of active options-income funds, helped by its low fee and steady risk profile.

• SPIN 0.25% a year, a fraction of the typical options-income fee, and it undercuts close peers like PAPI (0.29%), ROCY and JOYT (0.35%) and DIVO (0.56%).
• Calls are sold against a US large-cap exposure such as the S&P 500 rather than name by name, so the stock sleeve's individual winners aren't each capped.ssga.com
• Underneath the overlay sits a real stock book: roughly 90 large- and mid-cap US names chosen on fundamentals, valuation and growth. Income is paid monthly.
• On cost and how closely it delivers its stated mandate, it sits among the stronger builds in a crowded options-income field.

Worth knowing

• ROCY Launched in 2026, so the record is short and has not been through a full market cycle.
• Writing calls still trims what you keep in a fast rally; the long call softens the ceiling, it does not remove it.jpmorgan.com
• Distributions can include return of capital, which lowers your cost basis instead of adding income.jpmorgan.com

• SPIN The overlay pays for monthly income by giving up part of a sharp rally in the index it writes against. That trade sits at the heart of every covered-call fund.
• Small and lightly traded next to the category's household names, which can mean wider spreads getting in and out.
• Live since 2024, so the track record is short and hasn't spanned a full market cycle.

Full ROCY profile⁠

Full SPIN profile⁠