Key stats
About Defiance Oil Enhanced Options Income ETF
Expense ratio
0.99%
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Inception date
May 9, 2024
USOY aims to generate monthly income through risk exposure to shares of USO, a fund holding short-term futures contracts on WTI crude oil. At least once a week, USOY sells put options priced at-the-money or 0%-5% in-the-money which places a cap on potential gains. The strategy may profit when USOs share price increases, stays flat, or decreases slightly. However, the fund is subject to all potential losses if USOs share price declines significantly, which may not be offset by the income received. The fund seeks to outperform relative to traditional option-based strategies with a typical duration of less than one week. USOY does not invest directly in oil, oil reserves, or the underlying ETP. Due to the nature of its options strategy, the fund may occasionally hold USO shares intending to be sold within the day to avoid tax implications. The fund will hold short-term US Treasurys as collateral. There is no guarantee the strategy will result in higher income.
Classification
What's in the fund
Exposure type
Government
Bonds, Cash & Other100.00%
Government100.19%
Cash0.92%
Mutual fund0.39%
Miscellaneous−1.50%