Key stats
About Peerless Option Income Wheel ETF
Home page
Inception date
May 16, 2024
Structure
Open-Ended Fund
Replication method
Physical
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
US88636J4105
WEEL aims to provide exposure to various equity sectors by investing in sector-specific ETFs and related individual stocks. At its most conservative, the fund allocates equal weights to positions based on GICS, while at its riskiest, it will aim for a beta slightly greater than 1. The fund also utilizes an option wheel strategy, which starts by continuously selling out-of-the-money cash-secured put options with one month or less to expiration. Here, the fund seeks to generate income and potentially obtain shares of the underlying securities. When the reference security is assigned, the fund will repeatedly sell out-of-the-money covered call options, with up to one month to expiration, against the acquired security to generate additional income until the asset is called away. After the completion of each cycle, the fund will repeat the process. The fund also holds short-term US Treasurys and money market funds for collateral.
Related funds
Classification
What's in the fund
Exposure type
Government
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.
WEEL assets under management is 17.90 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.
WEEL invests in bonds. See more details in our Analysis section.
WEEL expense ratio is 0.99%. 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, WEEL 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, WEEL pays dividends to its holders with the dividend yield of 12.50%.
WEEL shares are issued by Toroso Investments Topco LLC
WEEL 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 May 16, 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.