BATS · Active · options-income

Kurv Yield Premium Strategy Google (GOOGL) ETF

Kurv Investment Management LLC

Weighted score · 3.65 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · 92% ROC

Expense Ratio

1.15% gross

1Y Return

vs underlying

Sharpe

Max DD -27.5%

The YP Google Fund seeks to provide current income.

The YP Google Fund is an actively managed ETF that employs a synthetic covered call strategy, uncovered call or put writing strategy, or synthetic covered call spread strategy to generate income from options premiums while maintaining exposure to GOOGL's share price returns. It achieves long exposure to GOOGL either synthetically (buying at-the-money calls and selling at-the-money puts) or by directly holding GOOGL shares, then writes (sells) call options against that exposure to generate premium income. The fund may also use call spreads, risk reversals, protective puts, and holds short-dated fixed income securities as collateral. Upside participation in GOOGL is capped by the sold call options, but downside exposure to GOOGL is fully retained.

The fund buys at-the-money call options and sells at-the-money put options with the same strike and expiration (1–12 months) to create synthetic long exposure to GOOGL up to 100% of net assets, then writes (sells) call options with strike prices approximately 0%–15% above current GOOGL price to generate premium income. It may also purchase out-of-the-money calls (call spreads), sell risk reversals, or buy protective puts to modify the return profile. All options are standardized exchange-traded or FLEX options based on GOOGL.

NAV HISTORY · JUN '25 – JUN '26

Max DD

Volatility

Sharpe

Sortino

Calmar

Beta

Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.

Composition · Recent Distribution

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 May 2026 distribution of $0.60 per share is composed of 92% return of capital ($0.5508) and 8% estimated net investment income ($0.0492), with no capital gains component. On a fiscal year-to-date basis, 85% of cumulative distributions have been return of capital and 15% net investment income.

Return of capital ($/sh)

Net investment income ($/sh)

Monthly ROC %

Calendar-year ROC (YTD est.)

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $41.90 is above the 200-day SMA ($35.89); 50-day SMA $41.99. 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

Estimated bid/ask spread ~0.42% (wide). Average daily dollar volume ~$1.0M (adequate). 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.

AUM ($)