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KSLV
Kurv Silver Enhanced Income ETF
Kurv Investment Management LLC
Verdict
WATCH
Weighted score · 3.10 / 5
Fund Identity
What it is, who runs it, where it lives.
The Kurv Silver Enhanced Income ETF (the "Silver Fund") seeks to maximize total return..
The Silver Fund seeks to exceed the price return of physical silver by primarily investing in derivative instruments on silver and physical silver-related ETPs (ETFs and ETNs), backed by a portfolio of Fixed Income Instruments and Preferred Securities Instruments. The Fund uses option strategies on physical silver-related ETPs—including covered calls, synthetic long positions, uncovered calls/puts, spreads, risk reversals, and protective puts—to generate income and/or preserve capital. Derivatives tracking silver are purchased with a fraction of assets needed for direct ETP exposure, with the remainder invested in actively managed fixed income and preferred securities. The Fund may also invest up to 5% of assets in physical silver through a Cayman Islands wholly-owned subsidiary.
Ticker
KSLV
Issuer
Kurv Investment Management LLC
Exchange
BATS
Inception
2025-09-30 · 0.7 yrs
Mgmt style
Active
Replication
Derivatives (options/futures) plus physical silver-related ETPs and fixed income; synthetic long via long calls and short puts on silver ETPs, combined with covered/uncovered call writing for income
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered Calls, Synthetic Long (long call + short put), Uncovered Calls, Uncovered Puts, Call Spreads, Put Spreads, Risk Reversals, Protective Collars, Protective Puts, Call Purchases, FLEX Options
generates income
Underlying
Physical silver-related ETPs (e.g., silver ETFs/ETNs)
income exposure
MONTHLY
21.0%
DIST. RATE
92% ROC
Ordinary Income
Ordinary Income
Underlying
Physical silver-related ETPs (e.g., silver ETFs/ETNs)
Strategy
Covered Calls, Synthetic Long (long call + short put), Uncovered Calls, Uncovered Puts, Call Spreads, Put Spreads, Risk Reversals, Protective Collars, Protective Puts, Call Purchases, FLEX Options
Tax
Ordinary Income
The Fund primarily uses option contracts on physical silver-related ETPs, including FLEX Options, to gain silver exposure and generate income. Covered call writing limits upside participation beyond the strike price but generates premium income; synthetic long positions replicate ETP price movements via long call and short put combinations. Notional exposure via options will not exceed 200% of NAV; the Fund may also write uncovered calls or puts when the Adviser perceives volatility mispricing.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · SEP '25 – JUN '26
SEP '25JUN '26
Flat-NAV reinvestment hurdle
0.0%
Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
92%
ROC
Return of Capital — constructive92%
Net Investment Income8%
Frequency
Monthly
Dist. rate
20.96%
ROC %
92%
30-day SEC
not reported
Consistency
1 w/o cut
YOC · 1yr-ago buyer
23.7%
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 $0.75 per share for the Kurv Silver Enhanced Income ETF is composed of 92% return of capital ($0.6928) and 8% estimated net investment income ($0.0572). On a fiscal year-to-date basis, 93% of cumulative distributions have been classified as return of capital. No capital gains are included in this distribution.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 8 months.
DIST ($/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
2026-06-17
Ex-dividend
2026-06-17
Pay date
—
Payback Period
4.8 yr
Dist. Since Incep.
$5.9
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
14
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
No moving-average series.
Price $28.15
50-DMA $—
200-DMA $—
Liquidity
Avg daily volume
100K
Avg dollar volume
$2,929,889
Bid/ask spread
0.39%
Premium/discount
-0.23%
Turnover
—
Estimated bid/ask spread ~0.41% (wide). Average daily dollar volume ~$2.9M (adequate). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$65M
$105M$65M$24M
NOV '25JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
KSLV · 2026-06-21
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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