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AMZP
Kurv Yield Premium Strategy Amazon (AMZN) ETF
Kurv Investment Management LLC
Verdict
WATCH
Weighted score · 3.15 / 5
Fund Identity
What it is, who runs it, where it lives.
The Kurv Yield Premium Strategy Amazon (AMZN) ETF seeks to provide current income.
AMZP is an actively managed ETF that employs a synthetic covered call strategy, combining a synthetic long position in AMZN (via long at-the-money calls and short at-the-money puts) with the sale of out-of-the-money call options to generate premium income. The Fund may also use call spreads, risk reversals, protective puts, and direct AMZN share purchases to manage upside participation and downside risk. Collateral is held in short-term fixed income instruments and cash equivalents, which also contribute income. The combined AMZN exposure (synthetic plus direct) will not exceed 100% of net assets.
Ticker
AMZP
Issuer
Kurv Investment Management LLC
Exchange
BATS
Inception
2024-11-18 · 1.6 yrs
Mgmt style
Active
Replication
Derivatives (options/futures) — synthetic long via long ATM calls plus short ATM puts, combined with covered call writing; may also hold AMZN shares directly and short-term fixed income as collateral
Index-based
— · S&P 500 Total Return Index (used for performance comparison only)
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Synthetic long (long ATM call + short ATM put) + covered call writing (short OTM calls) + optional call spreads + optional risk reversals / protective collars + optional protective puts
generates income
Underlying
AMZN (Amazon.com, Inc. common stock)
income exposure
MONTHLY
20.0%
DIST. RATE
95% ROC
Ordinary Income
Ordinary Income
Underlying
AMZN (Amazon.com, Inc. common stock)
Strategy
Synthetic long (long ATM call + short ATM put) + covered call writing (short OTM calls) + optional call spreads + optional risk reversals / protective collars + optional protective puts
Tax
Ordinary Income
The Fund buys at-the-money AMZN call options and sells at-the-money AMZN put options to replicate AMZN price exposure synthetically, then sells out-of-the-money call options (strike approximately 0%-15% above current price) to generate premium income. The notional amount of written calls does not exceed the notional of the synthetic or direct long position. The Fund may also buy call spreads for additional upside participation and use risk reversals or protective puts to limit downside.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
JUN '25JUN '26
Flat-NAV reinvestment hurdle
43.3%
Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
95%
ROC
Return of Capital — mixed95%
Net Investment Income5%
Frequency
Monthly
Dist. rate
19.98%
ROC %
95%
30-day SEC
not reported
Consistency
4 w/o cut
YOC · 1yr-ago buyer
18.9%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.
Composition · Narrative
The June 2026 distribution of $0.3500 per share for AMZP is estimated to consist of 95% return of capital ($0.3312) and 5% net investment income ($0.0188). No capital gains are included. The fiscal year-to-date cumulative distribution breakdown mirrors the current distribution at 95% return of capital and 5% net investment income.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 24 months.
DIST ($/sh)ROC %
Return of capital ($/sh)
Net investment income ($/sh)
Monthly ROC %
Calendar-year ROC (YTD est.)
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-06-10
Ex-dividend
2026-06-10
Pay date
—
Payback Period
5.0 yr
Dist. Since Incep.
$10.0
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
11
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$30.2$27.4$24.5$21.7
SEP '25JUN '26
Price $26.53
50-DMA $28.11
200-DMA $25.68
Bullish — 50-DMA above 200-DMA
Price $26.53 is above the 200-day SMA ($25.68); 50-day SMA $28.11. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.
Liquidity
Avg daily volume
19K
Avg dollar volume
$535,824
Bid/ask spread
0.27%
Premium/discount
+0.01%
Turnover
0%
Estimated bid/ask spread ~0.41% (wide). Average daily dollar volume ~$0.5M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Rising. Source: shares×price (Massive, monthly).
AUM ($)
$22M
$25M$13M$2M
JUN '24JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
AMZP · 2026-06-21
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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