TCAL vs YBTY

TCALAT. Rowe Price Capital Appreciation Premium Income ETF

YBTYFGraniteShares YieldBoost TopYielders ETF

In short

TCAL An active stock picker's take on the covered-call trade: roughly 70 hand-chosen holdings, calls written on top, cash paid out monthly, all for 0.34% a year.

YBTY A fund of funds that rotates through GraniteShares' YieldBOOST ETFs, each selling put spreads on 2x single-stock ETFs to harvest fat option premiums. One ticker, weekly payouts, and all the volatility that comes with the source material.

Stated mandate

TCAL The fund seeks regular distributions while aiming to preserve capital and potentially achieve capital appreciation. It invests in equities and writes covered calls to generate cash flow alongside dividends.

YBTY YBTY seeks current income as its primary objective and secondary exposure to selected YieldBOOSTTM ETFs. It is actively managed and selects those ETFs using factors including implied volatility, issuer events, and option-market characteristics of the underlying stocks.

Why people hold it

• TCAL At 0.34% a year, it undercuts most active options-income funds, including DIVO at 0.56%, so more of the option premium stays in the portfolio instead of the fee line.
• Active all the way down: roughly 70 equities picked by T. Rowe Price, with covered calls layered on to generate cash alongside dividends. No index sitting underneath.
• Pays monthly, and the stated mandate ties those distributions to preserving capital and seeking appreciation rather than maximizing headline yield.
• Ranks among the strongest implementations in a crowded options-income field, with cost the clearest edge.

• YBTY One ticket to the whole YieldBOOST lineup: the manager rotates between those funds using implied volatility, upcoming issuer events and option-market signals.graniteshares.com
• The underlying funds sell near-the-money puts on leveraged single-stock ETFs and buy cheaper puts further out, so premiums run rich while the option leg's loss has a floor.graniteshares.com
• YBTY is not itself leveraged. It rents the richer option premiums that 2x ETFs throw off, and distributions land weekly rather than monthly or quarterly.graniteshares.comgraniteshares.com 2

Worth knowing

• TCAL Written calls trade upside for cash. When the stock picks run hard, the calls limit how much of that move the fund keeps.
• Launched in 2025, so there is no full market-cycle record to judge the strategy against yet.
• The fund discloses that distributions can include return of capital, meaning part of a payout may be your own money coming back rather than income earned.

• YBTY At 1.38% it sits among the priciest in its peer group (PAPI charges 0.29%, DIVO 0.56%), and the underlying YieldBOOST funds' fees stack on top of that.graniteshares.com
• Distributions can include return of capital, which is principal handed back rather than income the strategy earned.graniteshares.com
• Launched December 2025, non-diversified, small and thinly traded, so spreads can be wide and there is little history to judge the strategy by.graniteshares.com

Full TCAL profile⁠

Full YBTY profile⁠