Defiance S&P 500 Target Income (SPYT)

Defiance S&P 500 Target Income (SPYT) is an exchange-traded fund in the Large Blend category. It has $153.67M in assets, an expense ratio of 0.92% and a 14.56% dividend yield. The fund’s strategy involves holding shares of unaffiliated passively managed ETFs that seek to track the performance of the index (“Index ETFs”) and selling daily credit call spreads on the index. Its daily credit call spread strategy consists of selling a call option and simultaneously buying another call option at a higher strike price for income generation. The fund is non-diversified.