GraniteShares YieldBOOST SPY ETF

Frequently Asked Questions About YSPY

What does YSPY invest in?

The fund is an actively managed ETF that seeks current income while maintaining the opportunity for an indirect exposure to the share price of the Direxion Daily S&P500® Bull 3X Shares, subject to a limit on potential gains from increases in the price of the underlying ETF’s shares. The fund is non-diversified.

What is the expense ratio of YSPY?

GraniteShares YieldBOOST SPY ETF (YSPY) charges an expense ratio of 5.88%. This is the annual fee deducted from fund assets to cover management and operations.

What is YSPY's distribution yield?

YSPY's trailing-twelve-month yield is 47.48%, calculated from the sum of distributions over the past year divided by the current price. A rate this high reflects large option-premium distributions against a NAV that has declined over the same period — part of each payout may be return of capital rather than earned income.

How does YSPY's covered-call strategy work?

YSPY 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 YSPY?

GraniteShares YieldBOOST SPY ETF (YSPY) manages $9.1M 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 YSPY actively managed or an index fund?

YSPY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.