Key stats
About Defiance S&P 500 Target Income ETF
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Inception date
Mar 7, 2024
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
ISIN
US88636J5680
SPYT is actively managed which seeks daily income and consistent monthly distributions by utilizing an index credit spread option strategy. The strategy involves daily selling of S&P 500 credit call spreads that are either at-the-money or near-the-money, with near-term expirations, and buying call options at a higher strike price. The sold option positions become profitable if the S&P 500 Indexs value increases above the call spreads cap. Additionally, the fund targets an annual income level of 20% and aims to hold cash or US Treasurys up to 10% of the portfolio as collateral for the option strategy. Even during periods of adverse market conditions, the fund will not seek defensive positions, nor directly or fully participate in the gains of the index. As such, the funds risk and return potential will fluctuate daily.
Related funds
Classification
What's in the fund
Exposure type
ETF
Stock breakdown by region
Top 10 holdings
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
SPYT assets under management is 114.88 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
SPYT invests in funds. See more details in our Analysis section.
SPYT expense ratio is 0.94%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, SPYT isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, SPYT pays dividends to its holders with the dividend yield of 20.86%.
SPYT shares are issued by Toroso Investments Topco LLC
SPYT follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Mar 7, 2024.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.