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TSLP
Kurv Yield Premium Strategy Tesla (TSLA) ETF
Kurv Investment Management LLC
Verdict
AVOID
Weighted score · 2.35 / 5
Fund Identity
What it is, who runs it, where it lives.
The Kurv Yield Premium Strategy Tesla (TSLA) ETF seeks to provide current income.
The YP Tesla 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 TSLA's share price returns. It gains long TSLA exposure either by purchasing TSLA shares directly or synthetically via buying at-the-money call options and selling at-the-money put options with the same strike and expiration. The fund then writes (sells) call options on TSLA to generate premium income, which limits upside participation above the strike price while retaining full downside exposure. Collateral is held in short-term fixed income instruments and cash, which also generate interest income.
Ticker
TSLP
Issuer
Kurv Investment Management LLC
Exchange
BATS
Inception
2024-11-18 · 1.6 yrs
Mgmt style
Active
Replication
Derivatives (options/futures) — synthetic long TSLA exposure via long call / short put combinations plus written covered calls for income; may also hold TSLA shares directly
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 covered call (long ATM call + short ATM put for long exposure, plus written OTM calls for income); call spreads; risk reversals / protective collars; protective put options
generates income
Underlying
TSLA (Tesla Inc. common stock)
income exposure
MONTHLY
29.6%
DIST. RATE
96% ROC
Ordinary Income
Ordinary Income
Underlying
TSLA (Tesla Inc. common stock)
Strategy
Synthetic covered call (long ATM call + short ATM put for long exposure, plus written OTM calls for income); call spreads; risk reversals / protective collars; protective put options
Tax
Ordinary Income
The fund buys at-the-money TSLA call options and sells at-the-money TSLA put options to replicate up to 100% long TSLA exposure synthetically, then sells (writes) out-of-the-money TSLA call options with strike prices approximately 0–15% above current price to generate premium income. The notional amount of written calls does not exceed the synthetic or long stock position. Options include both standardized exchange-traded and FLEX options with expirations ranging from 1 to 14 months.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
JUN '25JUN '26
Flat-NAV reinvestment hurdle
83.7%
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 — mixed96%
Net Investment Income4%
Frequency
Monthly
Dist. rate
29.57%
ROC %
96%
30-day SEC
not reported
Consistency
2 w/o cut
YOC · 1yr-ago buyer
26.1%
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 $0.35 per share is composed of 96% return of capital ($0.3344) and 4% net investment income ($0.0156). On a fiscal year-to-date basis, 91% of cumulative distributions have been return of capital and 9% net investment income. No capital gains are included in this distribution.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 24 months.
DIST ($/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
2026-06-03
Ex-dividend
2026-06-03
Pay date
—
Payback Period
3.4 yr
Dist. Since Incep.
$11.8
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
$22.8$20.4$18.1$15.8
SEP '25JUN '26
Price $18.09
50-DMA $18.29
200-DMA $19.39
Bearish — 50-DMA below 200-DMA
Price $18.09 is below the 200-day SMA ($19.39); 50-day SMA $18.29. 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
Avg daily volume
14K
Avg dollar volume
$297,445
Bid/ask spread
0.47%
Premium/discount
+0.10%
Turnover
96%
Estimated bid/ask spread ~0.55% (wide). Average daily dollar volume ~$0.3M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$19M
$26M$15M$4M
JUN '24JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
TSLP · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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