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YSPY
GraniteShares YieldBOOST SPY ETF
GraniteShares Advisors LLC
Verdict
PASS
Weighted score · 2.70 / 5
Fund Identity
What it is, who runs it, where it lives.
The Fund's primary investment objective is to seek current income.
YSPY is an actively managed ETF that seeks current income by selling put options (or entering into swap agreements referencing put options) on the Direxion Daily S&P500 Bull 3X Shares (SPXL), collecting option premiums as income. The Fund invests at least 80% of its net assets in derivatives contracts that utilize SPXL as the reference asset, valued at notional value. Under a standard strategy the Fund sells put options outright; under a defensive strategy it sells a put while buying a lower-strike put to form a spread. Cash balances are invested in U.S. Government securities, money market funds, short-term bond ETFs, corporate debt, or repurchase agreements.
Ticker
YSPY
Issuer
GraniteShares Advisors LLC
Exchange
XNAS
Inception
2025-02-26 · 1.3 yrs
Mgmt style
Active
Replication
Derivatives (options/futures) — sells put options (directly or via swap) on SPXL to generate premium income; no direct ownership of SPXL shares
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 (standard strategy) or short put spread / put spread (defensive strategy) on SPXL; may use FLEX or standard exchange-listed options; maturities 1-week to 1-month; strike prices ranging from 40% out-of-the-money to 10% in-the-money for sold puts
generates income
Underlying
SPXL (Direxion Daily S&P500 Bull 3X Shares)
income exposure
WEEKLY
56.0%
DIST. RATE
96% ROC
Ordinary Income
Ordinary Income
Underlying
SPXL (Direxion Daily S&P500 Bull 3X Shares)
Strategy
Short put options (standard strategy) or short put spread / put spread (defensive strategy) on SPXL; may use FLEX or standard exchange-listed options; maturities 1-week to 1-month; strike prices ranging from 40% out-of-the-money to 10% in-the-money for sold puts
Tax
Ordinary Income
The Fund sells put options on SPXL either directly or through swap agreements to collect premiums as its primary income source, with sold-put strikes ranging from 40% OTM to 10% ITM and maturities of 1 week to 1 month. In the defensive strategy the Fund also buys a lower-strike put (50% OTM to ATM) to limit downside beyond a certain level. The Fund caps its participation in SPXL upside at the strike price of the sold put and retains full exposure to SPXL declines below the net premium received.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
JUN '25JUN '26
Flat-NAV reinvestment hurdle
84.2%
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
Weekly
Dist. rate
56.02%
ROC %
96%
30-day SEC
not reported
Consistency
2 w/o cut
YOC · 1yr-ago buyer
42.5%
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, YSPY paid a distribution of $0.14476 per share. An estimated 96.10% of the distribution is characterized as return of capital under GAAP, with the remaining 3.90% from other sources. The final tax character will be determined in January 2027.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 24 months.
DIST ($/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
1.8 yr
Dist. Since Incep.
$11.7
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
7
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$15.6$14.8$14.0$13.2
DEC '25JUN '26
Price $15.15
50-DMA $14.96
200-DMA $14.69
Recent golden cross (bullish)
Price $15.15 is above the 200-day SMA ($14.69); 50-day SMA $14.96. 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
31K
Avg dollar volume
$500,546
Bid/ask spread
0.17%
Premium/discount
—
Turnover
—
Estimated bid/ask spread ~0.17% (moderate). Average daily dollar volume ~$0.5M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Rising. Source: shares×price (Massive, monthly).
AUM ($)
$20M
$23M$12M$1M
MAR '25JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
YSPY · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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