Defiance S&P 500 Income Target ETF

SPYT

Market cap $116M

Overview Fund Activity

18.28 USD

-0.04

0.22%

At close Updated Sep 17, 11:58 AM EDT

1 day

-0.22%

5 days

0.49%

1 month

0.05%

3 months

3.8%

6 months

2.99%

Year to date

-4.29%

1 year

-6.97%

5 years

-8.83%

10 years

-8.83%

0

Funds holding %

of 7,463 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

150% more repeat investments, than reductions

Existing positions increased: 5 | Existing positions reduced: 2

16% more capital invested

Capital invested by funds: $6.24M [Q1] → $7.22M (+$982K) [Q2]

0.47% more ownership

Funds ownership: 6.02% [Q1] → 6.49% (+0.47%) [Q2]

0% more funds holding

Funds holding: 13 [Q1] → 13 (+0) [Q2]

0% more first-time investments, than exits

New positions opened: 5 | Existing positions closed: 5

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Financial journalist opinion

SPYT: 20% Yields And Limits Of Option "Income"

SPYT promises a 20% annual income using daily S&P 500 call spreads, but this strategy is fundamentally flawed and risky. Daily options trading creates a poor risk-reward, especially in volatile bull markets. SPYT and similar funds have underperformed the S&P 500.

SPYT: 20% Yields And Limits Of Option "Income"

SPYT: A Consistent 20% Yield? It Depends

SPYT targets a 20% annual yield using an options overlay on the S&P 500, appealing to income-focused investors seeking predictable monthly payouts. The fund's strategy sacrifices some upside participation in exchange for high income, primarily through selling at-the-money 0DTE call spreads. Distributions rely heavily on the return of capital, causing net asset value erosion and declining yields for long-term holders.

SPYT: A Consistent 20% Yield? It Depends

SPYT, Over 20% Distribution Rate, But Watch Out For This Factor

SPYT, with a target distribution rate above 20%, boosts the income component of this ETF category compared to more well-known ones like XYLD. I don't really like its fluctuation relative to NAV; it's a point worth reconsidering, given the high dividends and the past 100% ROC. To be considered in sideways and bull markets, and it's not a better hedge than the underlying during bearish phases.

SPYT, Over 20% Distribution Rate, But Watch Out For This Factor

High Yields Will Never Be The Same - Here's Why

High-yield investments like BDCs, MLPs, CEFs, and REITs offer substantial dividend yields, often overlooked by retail investors due to a lack of awareness. Option ETFs generate high income by writing options against equities, with some offering extreme yields, like Yieldmax MSTR Option Income Strategy ETF at 113%. These funds are for income generation, not total return or capital appreciation, and require a different evaluation lens than traditional investments.

High Yields Will Never Be The Same - Here's Why

Undercovered ETFs: Growth, Income, TIPS, Poland +

The 'Undercovered' Dozen series highlights 12 lesser-known ETFs offering potential investment opportunities for investors. Kurtis Hemmerling shares a bearish take on iShares Russell Top 200 Growth ETF due to poor factor implementation, despite its strong historical performance. Goldman Sachs Nasdaq-100 Core Premium Income ETF is given a buy from Jonathan Weber for income-oriented investors, combining a 10% dividend yield with tech exposure.

Undercovered ETFs: Growth, Income, TIPS, Poland +

SPYT: Generating Income From S&P 500 Exposure

SPYT is an ETF that mimics the S&P 500's daily price while generating income through ATM options. The fund aims to provide a 20% annual dividend yield. The fund's ATM option strategy caps upside potential, leading to underperformance in bull markets compared to traditional ETFs like IVV. SPYT's short history and reliance on return of capital for distributions make its long-term resilience and NAV growth uncertain.

SPYT: Generating Income From S&P 500 Exposure

SPYT: When NAV Erosion Undermines An Essentially Sound Options Strategy

The Defiance S&P 500 Target Income ETF (SPYT) offers monthly income and downside protection but caps upside potential, making it ill-suited to bullish markets. The ETF's strategy involves selling call spreads on the S&P 500, aiming for a 20% annualized payout, but it heavily relies on return of capital. Despite achieving its income target, SPYT's market price has significantly lagged behind its underlying asset, IVV, due to its options strategy and resulting high return of capital.

SPYT: When NAV Erosion Undermines An Essentially Sound Options Strategy

XDTE Vs. SPYT, Which 0DTE ETF To Pick?

SPYT and XDTE ETFs both write 0DTE calls on the S&P 500, but SPYT uses call spreads, while XDTE uses slightly OTM calls. XDTE has outperformed SPYT since March 2024, delivering superior total returns and higher distribution yields. This suggests XDTE has a superior strategy. However, due to extended market valuations, I remain cautious on both ETFs and rate SPYT a hold.

XDTE Vs. SPYT, Which 0DTE ETF To Pick?

Defiance ETFs Announces Monthly Distributions on $QQQY (105.45%), $JEPY (72.04%), $IWMY (110.96%), $SPYT (20.12%), $USOY (75.17%), and $QQQT (20.06%)

Defiance ETFs Announces Monthly Distributions on $QQQY (105.45%), $JEPY (72.04%), $IWMY (110.96%), $SPYT (20.12%), $USOY (75.17%), and $QQQT (20.06%).

Defiance ETFs Announces Monthly Distributions on $QQQY (105.45%), $JEPY (72.04%), $IWMY (110.96%), $SPYT (20.12%), $USOY (75.17%), and $QQQT (20.06%)

Defiance ETFs Announces Monthly Distributions on $QQQY (52.55%), $JEPY (33.76%), $IWMY (57.99%), $TRES (10.58%), $SPYT (20.00%), $USOY (75.00%), and QQQT (––).

MIAMI, June 28, 2024 (GLOBE NEWSWIRE) -- Defiance ETFs, a leader in thematic and income ETFs, is proud to announce monthly distributions for the QQQY - Defiance Nasdaq-100 Enhanced Options Income ETF, JEPY - Defiance S&P 500 Enhanced Options Income ETF, IWMY – Defiance R2000 Enhanced Options Income ETF, TRES – Defiance Treasury Alternative Yield ETF, SPYT – Defiance S&P 500 Target Income ETF, USOY – Defiance Oil Enhanced Options Income ETF, QQQT – Defiance Nasdaq 100 Income Target ETF. Distribution as of 06/28/2024 ETF Ticker Distribution per Share Distribution Rate * Ex-Date Record Date Payment Date QQQY $0.6573 52.55% 07/01/2024 07/01/2024 07/02/2024 JEPY $0.4619 33.76% 07/01/2024 07/01/2024 07/02/2024 IWMY $0.6983 57.99% 07/01/2024 07/01/2024 07/02/2024 TRES $0.1500 10.58% 07/01/2024 07/01/2024 07/02/2024 SPYT $0.3369 20.00% 07/01/2024 07/01/2024 07/02/2024 USOY $1.2365 75.00% 07/01/2024 07/01/2024 07/02/2024 QQQT –– –– –– –– –– As of 05/31/2024 the 30 Day SEC yield** for QQQY is 4.22%, JEPY is 4.21%, IWMY is 4.35%, TRES is 4.70%, SPYT is 0.61%, and QQQT is ––.

Defiance ETFs Announces Monthly Distributions on $QQQY (52.55%), $JEPY (33.76%), $IWMY (57.99%), $TRES (10.58%), $SPYT (20.00%), $USOY (75.00%), and QQQT (––).

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