Kurv's KEO ETF launched Aug 4, wrapping seven covered call funds into one with weekly dividends. YieldMax YMAG yields 43%; Roundhill MAGY yields 27%.
Kurv launched a fund-of-funds ETF on August 4 that holds seven of its own single-stock covered call ETFs, packaging them into a single ticker that pays weekly dividends.
The Kurv Equity Option Income ETF (KEO) owns shares of the same Kurv ETFs that write call options on individual stocks. The underlying funds include NFLP (Nvidia), MSFY (Microsoft), XSHP (Tesla), TSLP (SpaceX), and three others. Kurv actively adjusts the weighting. Right now NFLP and MSFY are the top positions at 19% each. The two Elon Musk funds, XSHP and TSLP, are the smallest at 9.75% and 8.27%, respectively.
KEO launched without a track record. Kurv staggers the monthly dividends from the portfolio so that KEO distributes weekly, a structure designed to smooth cash flows for income-focused investors.
Two comparable fund-of-funds products exist. The YieldMax Magnificent 7 Fund of Option Income ETF (YMAG) started in January 2024. YMAG holds the YieldMax single-stock ETFs for Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOGL), Amazon, Meta, and Tesla. Since launch, YMAG generated an annualized average return of 20.6%. Its yield is 43%, which has caused significant share price erosion.
The Roundhill Magnificent Seven Covered Call ETF (MAGY) launched on April 23, 2025. It holds shares of the Roundhill Magnificent Seven ETF (MAGS), an equal-weight portfolio of the same seven stocks. MAGY yields 27% and has returned 16.4% since inception.
Returns from both YMAG and MAGY have disappointed relative to their headline yields. KEO offers a different mix – Kurv's single-stock covered call ETFs have their own track records, some of which have delivered strong income. Whether the fund-of-funds wrapper preserves that performance is unknown. KEO has no trading history yet. Kurv plans to pay weekly dividends by staggering the monthly payouts from the underlying funds.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.