BATS · Active · options-income

Kurv Yield Premium Strategy Netflix (NFLX) ETF

Kurv Investment Management LLC

Weighted score · 2.10 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · 85% ROC

Expense Ratio

1.15% gross

1Y Return

vs underlying

Sharpe

Max DD -45.8%

The Kurv Yield Premium Strategy Netflix (NFLX) ETF seeks to provide current income.

The YP Netflix Fund is an actively managed ETF that employs a synthetic covered call strategy using standardized exchange-traded and/or FLEX options on NFLX to generate income from option premiums while maintaining synthetic or direct long exposure to NFLX's share price. The Fund buys at-the-money call options and sells put options to replicate NFLX price returns, then writes (sells) call options against that exposure to generate premium income, capping upside participation. The Fund may also use call spreads, risk reversals, protective puts, and holds short-dated fixed income securities as collateral, which also contribute interest income. Combined exposure to NFLX (synthetic plus direct) will not exceed 100% of net assets.

The Fund purchases at-the-money NFLX call options and sells at-the-money NFLX put options to create synthetic long exposure of approximately 100% of NFLX, then sells (writes) call options struck approximately 0-15% out-of-the-money to generate premium income. The Fund may also buy call spreads for additional upside participation and use risk reversals or protective puts to limit downside. All options are standardized exchange-traded or FLEX contracts on NFLX with expirations of 1 to 14 months.

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. Higher means more of the yield is your own capital coming back.

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 $0.3000 per share consists of 85% return of capital ($0.2535) and 15% estimated net investment income ($0.0465), with no capital gains component. On a fiscal year-to-date basis, 84% of cumulative distributions ($4.5781 of $5.4500) are estimated to be return of capital. These figures are estimates for book purposes and may differ from final tax reporting.

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

Bearish — 50-DMA below 200-DMA

Price $19.65 is below the 200-day SMA ($26.33); 50-day SMA $23.27. The 50-day SMA sits below the 200-day — an established downtrend, 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 ~0.31% (moderate). Average daily dollar volume ~$0.1M (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.

AUM ($)