The Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) is an equity ETF seeking current income while providing exposure to Apple (AAPL) stock, with limited potential gains. Launched in October 2023, AAPY has $0.01 billion in assets under management and an expense ratio of 1.15%. The fund's strategy focuses on generating yield through options strategies related to Apple stock, reflected in its current allocation to cash and money market instruments. Past performance does not guarantee future results.
The Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) is an equity ETF seeking current income while providing exposure to Apple (AAPL) stock, with limited potential gains. Launched in October 2023, AAPY has $0.01 billion in assets under management and an expense ratio of 1.15%. The fund's strategy focuses on generating yield through options strategies related to Apple stock, reflected in its current allocation to cash and money market instruments. Past performance does not guarantee future results.
ETF Overview
Kurv Yield Premium Strategy Apple (AAPL) ETF seeks to provide current income while maintaining the opportunity for exposure to the share price of the common stock of Apple Inc., subject to a limit on potential investment gains.
The Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) aims to generate income while providing investors with exposure to Apple's stock price. This is achieved through a covered call strategy, where the fund sells call options on Apple stock to generate income. The fund's investment strategy limits potential gains in exchange for current income. As of March 15, 2026, the ETF's portfolio is heavily allocated to cash and cash equivalents, with 100% of its assets in 'Cash & Others,' primarily represented by holdings like Fidelity Inv MM Government I (FIGXX) at 1.76%. The fund's country exposure is heavily weighted towards the United States at 98.7%. This ETF may appeal to investors seeking income generation from Apple stock, but it's important to understand the trade-off between income and potential capital appreciation. Past performance does not guarantee future results.
Risk Metrics
AAPY's risk profile is influenced by its concentration in a single stock (Apple) and its reliance on options strategies. The fund's 1.15% expense ratio is significantly higher than the category average, which can create a substantial drag on returns, especially in a low-yield environment. The fund's beta of 0.00 (3Y) indicates that it has had very low volatility relative to the broader market during that period; however, this may not be representative of future volatility. The concentration in cash and money market instruments mitigates some stock-specific risk, but also limits potential upside. Investors should carefully consider the risks associated with covered call strategies, including the potential for missed gains if Apple's stock price rises significantly. Past performance does not guarantee future results.
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Risk Metrics
Beta: 0.00
Questions & Answers
What is AAPY and what does it track?
The Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) is an exchange-traded fund that aims to provide current income while offering exposure to the price movements of Apple Inc. (AAPL) stock. The fund employs a covered call strategy, selling call options on AAPL to generate income. However, this strategy limits the potential for capital appreciation. As of March 15, 2026, AAPY's portfolio consists primarily of cash and cash equivalents, with a significant portion held in Fidelity Inv MM Government I (FIGXX). The ETF was launched in October 2023 and has an expense ratio of 1.15%.
What is the expense ratio for AAPY?
The expense ratio for the Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) is 1.15%. This means that for every $10,000 invested in the fund, $115 is used to cover the fund's operating expenses annually. This expense ratio is considerably higher than the average expense ratio for equity ETFs, which is around 0.44%. the may be worth researching impact of this higher expense ratio on their overall returns, especially when compared to similar ETFs with lower costs.
What are the top holdings in AAPY?
As of March 15, 2026, the top holding in the Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) is Fidelity Inv MM Government I (FIGXX), comprising 1.76% of the portfolio. The fund's strategy focuses on generating income through options related to Apple stock, with the remainder of the portfolio held in cash and other assets. The fund holds a total of 10 positions. Due to the fund's covered call strategy, the holdings are primarily in cash and cash equivalents to support the options positions.
Is AAPY a good long-term investment?
Whether AAPY is a suitable long-term investment depends on an investor's specific goals and risk tolerance. The fund's covered call strategy limits potential capital appreciation in exchange for current income. The fund's high expense ratio of 1.15% can erode returns over the long term. With a dividend yield of 0.00% as of March 15, 2026, the fund is not currently distributing income. Investors should carefully weigh these factors against their investment objectives before considering AAPY for a long-term portfolio. Past performance does not guarantee future results.
How does AAPY compare to similar ETFs?
AAPY differentiates itself through its focus on a covered call strategy applied specifically to Apple stock. Compared to broader market ETFs, AAPY offers a more targeted approach with potentially higher income but limited upside. Its expense ratio of 1.15% is significantly higher than many other equity ETFs. The fund's AUM of $0.01 billion is relatively small, which may impact liquidity and trading costs. Investors should compare AAPY's performance, expense ratio, and strategy against other covered call ETFs and single-stock ETFs to determine the best fit for their portfolio. Past performance does not guarantee future results.
Does AAPY pay dividends?
As of March 15, 2026, the Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) has a dividend yield of 0.00%. While the fund's objective is to provide current income, the dividend payout may vary depending on the premiums received from selling call options on Apple stock. Investors seeking regular dividend income may want to consider other ETFs with a consistent history of dividend payments. The fund's dividend policy is subject to change at the discretion of the fund managers.