# Day Hagan Smart Buffer ETF (DHSB): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/dhsb for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Day Hagan · Asset class: US Equity - Strategy: Options Income · Inception: 2025-02-13 The Day Hagan Smart Buffer ETF (DHSB) aims to achieve sustained capital growth over time while safeguarding investors' initial principal. It actively allocates capital to U.S. stocks and exchange-traded funds (ETFs). Concurrently, the fund employs a sophisticated options strategy, including individual options and spreads, directly on these underlying holdings. This dual approach serves both to generate supplementary income and to mitigate potential downside risks. The portfolio is structured to offer comprehensive, broad-market exposure across the entire U.S. equity landscape. At its core,... ## Key Facts | Metric | Value | |---|---| | Price | $27.75 | | Expense Ratio | 0.68% | | Assets Under Management | $39.2M | | NAV | $27.73 | | Holdings Count | 0 | | Distribution Yield (TTM) | 1.17% | | Annual Distribution (TTM) | $0.32 /share | | Distribution Frequency | Irregular | | 52-Week Range | $25.28 – $27.92 | | Beta | 0.33 | ## Latest Distribution - Amount: $0.3240 /share - Ex-date: 2025-12-29 - Pay date: 2025-12-30 ## Frequently Asked Questions ### What does DHSB invest in? The Day Hagan Smart Buffer ETF (DHSB) aims to achieve sustained capital growth over time while safeguarding investors' initial principal. It actively allocates capital to U.S. stocks and exchange-traded funds (ETFs). Concurrently, the fund employs a sophisticated options strategy, including individual options and spreads, directly on these underlying holdings. This dual approach serves both to generate supplementary income and to mitigate potential downside risks. The portfolio is structured to offer comprehensive, broad-market exposure across the entire U.S. equity landscape. At its core, the fund's options strategy is two-pronged. First, it involves selling covered call options on up to 100% of its U.S. equity positions, primarily to generate premium income. Second, a segment of this generated premium is then strategically deployed to acquire near-at-the-money put options or put spreads on the identical equity portfolio. This second component is crucial for hedging purposes, effectively acting as a buffer against potential declines in the value of the underlying stocks. A direct consequence of this protective hedging approach is that investors should anticipate a ceiling on their potential upside returns. The fund's advisor retains the flexibility to fully or partially adjust, or even suspend, the options overlay strategy, contingent on prevailing market conditions. Detailed information regarding the fund's specific buffer level and daily return cap is readily available on the issuer's official website. ### What is the expense ratio of DHSB? Day Hagan Smart Buffer ETF (DHSB) charges an expense ratio of 0.68%. This is the annual fee deducted from fund assets to cover management and operations. ### What is DHSB's distribution yield? DHSB's trailing-twelve-month yield is 1.17%, calculated from the sum of distributions over the past year divided by the current price. ### How does DHSB's covered-call strategy work? DHSB sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund. ### How big is DHSB? Day Hagan Smart Buffer ETF (DHSB) manages $39.2M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is DHSB actively managed or an index fund? DHSB's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### Does DHSB pay a distribution? Yes, Day Hagan Smart Buffer ETF (DHSB) distributes distributions to shareholders. The trailing-twelve-month yield is 1.17%. Full distribution history is on this page. ### How often does DHSB pay distributions? Day Hagan Smart Buffer ETF pays distributions Irregular. Each ex-dividend date, record date, and payment date is listed in the distribution history table on this page. ### When is DHSB's next ex-distribution date? The most recently announced ex-distribution date for DHSB was 2025-12-29. The next ex-date typically follows Irregular; once announced it appears at the top of the distribution history table on this page. ### Is DHSB's distribution sustainable? Covered-call ETFs like DHSB fund their distributions from option premium income. Sustainability depends on (1) whether option premiums stay high enough to cover the announced rate, and (2) whether NAV holds up over time. The NAV Erosion section on this page contrasts total return with price change since inception. If distributions consistently exceed total return, the fund is paying out capital rather than income. ### How much will DHSB's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.68% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does DHSB charge its expense ratio? The expense ratio is deducted in tiny daily slices from DHSB's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does DHSB cost more than a fund like VOO? DHSB is an options-income fund (current expense ratio 0.68%). Covered-call and 0DTE strategies require active option-writing, daily rebalancing, and dedicated risk management. They cost more than passive equity funds. The Cost Verdict card compares DHSB against the options-income cohort, not VOO. ### Are DHSB's distributions taxed at ordinary income or qualified-dividend rates? DHSB's option-premium distributions are typically classified as ordinary income (NOT the qualified-dividend rate), so they're taxed at your marginal federal rate plus state. For a 24% bracket investor that's roughly 2x the 15% long-term capital gains rate most dividend investors are used to. The Fee Compounding Forecast card above lets you layer in this tax drag alongside the fund fee. Consult a tax advisor. This is not tax advice. ### Are there cheaper alternatives to DHSB? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as DHSB (0.68%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/dhsb - Distribution history: https://www.dividenddata.com/funds/dhsb/dividend - Holdings & diversification: https://www.dividenddata.com/funds/dhsb/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/dhsb/expenses - Peer comparison: https://www.dividenddata.com/funds/dhsb/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.