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TQQY
GraniteShares YieldBOOST QQQ ETF
GraniteShares Advisors LLC
Verdict
AVOID
Weighted score · 2.20 / 5
Fund Identity
What it is, who runs it, where it lives.
The Fund's primary investment objective is to seek current income.
TQQY is an actively managed ETF that invests at least 80% of its net assets in derivatives contracts (put options and/or swap agreements referencing put options) on the ProShares UltraPro QQQ (TQQQ), a 3x leveraged ETF tracking the Nasdaq-100. The Fund sells put options (including FLEX options) on TQQQ to generate premium income, either directly or via swap agreements, with strike prices ranging from 40% out-of-the-money to 10% in-the-money and maturities of 1-week to 1-month. Under a defensive strategy, the Fund may also buy lower-strike put options to form put spreads, limiting downside at the cost of reduced premium income. The cash balance is invested in U.S. government securities, money market funds, short-term bond ETFs, or investment-grade corporate debt.
Ticker
TQQY
Issuer
GraniteShares Advisors LLC
Exchange
XNAS
Inception
2025-02-26 · 1.3 yrs
Mgmt style
Active
Replication
Derivatives (options/futures) — sells put options (including FLEX options) directly or through swap agreements referencing TQQQ
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Options
actively managed
OPTIONS OVERLAY
Strategy
Short put options (cash-secured put writing); put spreads (sell put + buy lower-strike put) under defensive strategy
generates income
Underlying
TQQQ (ProShares UltraPro QQQ)
income exposure
WEEKLY
60.9%
DIST. RATE
96% ROC
Ordinary Income
Ordinary Income
Underlying
TQQQ (ProShares UltraPro QQQ)
Strategy
Short put options (cash-secured put writing); put spreads (sell put + buy lower-strike put) under defensive strategy
Tax
Ordinary Income
The Fund sells put options contracts on TQQQ (directly or via swaps) with strike prices from 40% OTM to 10% ITM and maturities of 1-week to 1-month to generate premium income. Under the defensive strategy, the Fund simultaneously buys lower-strike put options to limit downside, receiving a net premium. The Fund may use FLEX options or swap agreements referencing standardized or FLEX put options, all listed on regulated U.S. exchanges.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
JUN '25JUN '26
Flat-NAV reinvestment hurdle
108.1%
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
96%
ROC
Return of Capital — destructive96%
Net Investment Income4%
Frequency
Weekly
Dist. rate
60.86%
ROC %
96%
30-day SEC
not reported
Consistency
3 w/o cut
YOC · 1yr-ago buyer
42.2%
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
On May 19, 2026, TQQY paid a distribution of $0.13281 per share. An estimated 96.38% of this distribution is classified as return of capital under GAAP, with the remaining 3.62% from other sources. The final tax character will be determined in January 2027.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 24 months.
DIST ($/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
2026-06-18
Ex-dividend
2026-06-18
Pay date
—
Payback Period
1.6 yr
Dist. Since Incep.
$11.0
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
9
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$13.6$12.8$12.1$11.3
DEC '25JUN '26
Price $13.09
50-DMA $12.95
200-DMA $12.84
Recent golden cross (bullish)
Price $13.09 is above the 200-day SMA ($12.84); 50-day SMA $12.95. The 50-day SMA recently crossed above the 200-day — a golden cross, traditionally read as a bullish trend signal. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.
Liquidity
Avg daily volume
26K
Avg dollar volume
$480,396
Bid/ask spread
0.09%
Premium/discount
—
Turnover
—
Estimated bid/ask spread ~0.09% (tight). Average daily dollar volume ~$0.5M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Stable. Source: shares×price (Massive, monthly).
AUM ($)
$9M
$13M$7M$1M
MAR '25JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
TQQY · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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