SMYY vs XXV

SMYYCGraniteShares YieldBOOST SMCI ETF

XXVASimplify Ancorato Target 25 Distribution ETF

In short

SMYY Most single-stock income funds sell calls on the stock. SMYY flips it: the income comes from selling put options on a 2x leveraged SMCI ETF, and the cash goes out monthly.

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

SMYY The Fund seeks income primarily by selling put options on leveraged ETFs designed to deliver twice the daily performance of SMCI. It also seeks capped exposure to the performance of that leveraged ETF.

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

• SMYY A different engine than the covered-call crowd: premiums are harvested by selling puts on a 2x SMCI ETF, where leverage inflates option pricing.graniteshares.com
• Income is paid on a monthly cadence, not quarterly.
• The 1.07% fee sits right at the median for single-stock option-income funds, so the exotic plumbing carries no premium price tag.
• Rates in the upper half of a crowded single-stock overlay peer group on our review.

• 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

• SMYY The shape is lopsided by design: exposure to the leveraged ETF is capped on the way up, while drawdowns pass through.
• Everything rides on one volatile AI-server maker, viewed through a 2x daily-reset ETF that compounds sharp moves.
• A 2025 launch with a small asset base and light trading, which tends to mean wider bid-ask spreads than household-name ETFs.

• 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 SMYY profile⁠

Full XXV profile⁠