SPYT
Defiance S&P 500 Income Target ETF
Distribution Rate *
Distribution Frequency
30-Day SEC Yield **
Aim to achieve a target annual income of 20% in the S&P 500 using options, paid out monthly***
Strategy Overview
SPYT is an actively managed exchange-traded fund (“ETF”) dedicated to generating current income. Our strategy revolves around holding shares of ETFs that track the S&P 500’s performance and engaging in the selling of daily credit call spreads on the Index.
Enhanced Potential Yield
Our options strategy involves selling a call option while simultaneously buying another call option at a higher strike price. By focusing on short-term options, we aim to offer an “enhanced” yield compared to traditional option-based strategies.
Income Generation
SPYT’s investment approach is meticulously designed to generate income through option premiums derived from selling Index call spreads, the primary driver of the Fund’s yield. We sell at-the-money or near-the-money call spreads to retain upside growth potential and aim for a target annual income level of 20%.
Trading
Each day, SPYT sells credit call spreads on the S&P 500, prioritizing options with near-term expiration. This entails selling call options at or near the money strike prices and buying call options above that strike price. Should the S&P 500 value rise above the upper strike price, SPYT stands to profit from further upside appreciation in the Index’s value.
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*** The fund intends to pay distributions, if any, on a monthly basis.
There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment. While the ETF seeks to provide monthly income, there is no assurance a distribution will be made. If distributions are made, it is likely such distributions will vary greatly from one distribution to the next.
Distribution from SPYT include the following estimated return of capital per the 02/03/2026 19-a1 Notice: 100.00%. Distributions which include return of capital decrease the Fund’s NAV and trading price which over time can result in losses on an investment.
SPYTMarket Price
Performance
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 1.28% | 1.28% | 0.95% | 7.88% | 29.01% |
| Market Price (%) | 1.31% | 1.31% | 0.98% | 7.82% | 29.03% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Total Return (%) | 11.85% | xx.xx% | xx.xx% | 14.25% |
| Market Price (%) | 11.88% | xx.xx% | xx.xx% | 14.26% |
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 12.72% | -0.09% | 1.62% | 8.71% | 27.38% |
| Market Price (%) | 12.45% | -0.19% | 1.60% | 8.84% | 27.36% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Total Return (%) | 12.72% | xx.xx% | xx.xx% | 14.16% |
| Market Price (%) | 12.45% | xx.xx% | xx.xx% | 14.15% |
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 12.83% | -0.23% | 4.39% | 13.72% | 27.50% |
| Market Price (%) | 12.66% | -0.14% | 4.58% | 13.98% | 27.60% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Total Return (%) | 10.17% | xx.xx% | xx.xx% | 14.96% |
| Market Price (%) | 9.95% | xx.xx% | xx.xx% | 15.01% |
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 13.09% | 1.95% | 6.87% | 20.43% | 27.80% |
| Market Price (%) | 12.82% | 1.93% | 6.78% | 19.49% | 27.78% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Total Return (%) | 15.99% | xx.xx% | xx.xx% | 15.92% |
| Market Price (%) | 15.71% | xx.xx% | xx.xx% | 15.91% |
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 10.93% | 2.64% | 6.98% | 16.67% | 25.35% |
| Market Price (%) | 10.68% | 2.74% | 7.13% | 16.52% | 25.36% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Total Return (%) | 12.87% | xx.xx% | xx.xx% | 15.42% |
| Market Price (%) | 12.74% | xx.xx% | xx.xx% | 15.42% |
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 8.08% | 2.13% | 8.93% | 7.20% | 22.13% |
| Market Price (%) | 7.73% | 1.96% | 8.99% | 6.64% | 22.01% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Total Return (%) | 11.88% | xx.xx% | xx.xx% | 14.33% |
| Market Price (%) | 11.86% | xx.xx% | xx.xx% | 14.25% |
| 2025 | |
|---|---|
| Total Return NAV(%) | 12.72% |
| Market Price (%) | 12.45% |
Fund Details
Data as of 02/17/2026Top Holdings
| Name | Symbol | Stock price | % Net assets | Shares Held | Market Value |
|---|---|---|---|---|---|
| Ishares Core S&p 500 Etf | IVV | $689.35 | 99.80% | 209,645 | $144,518,781 |
| Spx 02/19/2026 6893.7 C | 4SPX 260219C06893700 | $18.58 | 0.27% | 211 | $392,038 |
| First American Government Obligations Fund 12/01/2031 | FGXXX | $100.00 | 0.20% | 285,084 | $285,084 |
| Cash & Other | Cash&Other | $1.00 | 0.09% | 132,331 | $132,331 |
| Spx 02/19/2026 6881.31 C | 4SPX 260219C06881310 | $24.77 | -0.36% | -211 | $-522,647 |
| Download Fund Documents |
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Distributions
Declaration Date |
Ex-Div Date |
Record Date |
Payable Date |
Amount ($) |
|---|---|---|---|---|
04/30/2026 |
05/01/2026 |
05/01/2026 |
05/04/2026 |
— |
03/31/2026 |
04/01/2026 |
04/01/2026 |
04/02/2026 |
— |
02/27/2026 |
03/02/2026 |
03/02/2026 |
03/03/2026 |
— |
01/30/2026 |
02/02/2026 |
02/02/2026 |
02/03/2026 |
$0.2955 |
12/30/2025 |
12/31/2025 |
12/31/2025 |
01/02/2026 |
$0.3116 |
11/28/2025 |
12/01/2025 |
12/01/2025 |
12/02/2025 |
$0.3139 |
10/31/2025 |
11/03/2025 |
11/03/2025 |
11/04/2025 |
$0.3210 |
09/30/2025 |
10/01/2025 |
10/01/2025 |
10/02/2025 |
$0.3220 |
08/29/2025 |
09/02/2025 |
09/02/2025 |
09/03/2025 |
$0.3218 |
07/31/2025 |
08/01/2025 |
08/01/2025 |
08/04/2025 |
$0.3202 |
06/30/2025 |
07/01/2025 |
07/01/2025 |
07/02/2025 |
$0.3078 |
05/30/2025 |
06/02/2025 |
06/02/2025 |
06/03/2025 |
$0.3004 |
04/30/2025 |
05/01/2025 |
05/01/2025 |
05/02/2025 |
$0.2835 |
03/31/2025 |
04/01/2025 |
04/01/2025 |
04/02/2025 |
$0.2979 |
02/28/2025 |
03/03/2025 |
03/03/2025 |
03/04/2025 |
$0.3156 |
01/31/2025 |
02/03/2025 |
02/03/2025 |
02/04/2025 |
$0.3272 |
12/30/2024 |
12/31/2024 |
12/31/2024 |
01/03/2025 |
$0.3284 |
11/29/2024 |
12/02/2024 |
12/02/2024 |
12/04/2024 |
$0.3356 |
10/31/2024 |
11/01/2024 |
11/01/2024 |
11/04/2024 |
$0.3324 |
09/30/2024 |
10/01/2024 |
10/01/2024 |
10/03/2024 |
$0.3338 |
08/30/2024 |
09/03/2024 |
09/03/2024 |
09/05/2024 |
$0.3333 |
07/30/2024 |
07/31/2024 |
07/31/2024 |
08/02/2024 |
$0.3302 |
06/28/2024 |
07/01/2024 |
07/01/2024 |
07/03/2024 |
$0.3369 |
05/31/2024 |
06/03/2024 |
06/03/2024 |
06/05/2024 |
$0.3302 |
04/30/2024 |
05/01/2024 |
05/02/2024 |
05/06/2024 |
$0.3238 |
03/28/2024 |
04/01/2024 |
04/02/2024 |
04/04/2024 |
$0.3400 |
| Declaration Date | Ex-Div Date | Record Date | Payable Date | Amount ($) | |
|---|---|---|---|---|---|
| No records found | |||||
| Distribution Rate *
Payable As of 02/03/2026 |
20.00% |
| Distribution Frequency | Monthly |
| 30-Day SEC Yield ** As of 01-31-2026 |
0.33% |
