Defiance S&P 500 Target Income ETF (SPYT)
Defiance S&P 500 Target Income ETF operates in the Asset Management - Income industry of the Financial Services sector, headquartered in Miami, FL, US. The stock last traded at $17.56, up 0.26% on the session, giving a market capitalisation of $156.2M. Its beta of 0.91 implies it has historically moved less than the broad market.
This ETF allocates its assets primarily to external, passively managed exchange-traded funds (ETFs) designed to mirror the performance of an underlying index. Complementing this, it also implements a daily credit call spread strategy utilizing options on that index. This options approach involves simultaneously writing a call option and purchasing another call option at a higher strike price, with the express aim of generating income. Notably, the fund operates as a non-diversified entity.
Defiance S&P 500 Target Income ETF is most often compared with the following Financial Services names: