MSFYKurv Yield Premium Strategy Microsoft (MSFT) ETF
Seeks current income, with secondary exposure to Microsoft (MSFT) share price subject to a cap on gains.
By Kurv Investment Management Inc. · Launched 2023
0.99%
#4,898 of 5,562 · expensive
$12M
#4,664 of 5,562 · small
23.03%
2 years
#3,265 of 5,562 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 1 holdings = 1.0% of fund✓ well diversified
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks current income, with secondary exposure to Microsoft (MSFT) share price subject to a cap on gains.
- Strategy
- Actively managed single-stock options-income ETF on Microsoft (MSFT). Uses a synthetic covered call, uncovered call/put writing, or synthetic covered call spread strategy to earn options-premium income while obtaining capped exposure to MSFT share-price returns; replicates the long position by buying at-the-money calls and selling puts, with combined MSFT exposure not exceeding 100% of net assets. Concentrated in MSFT's software-infrastructure industry.
- Inception date
- October 30, 2023
- Fund family
- Kurv Investment Management Inc.
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_strategy
Single-stock wrapper — fees without diversification
This fund wraps exposure to a single company, usually with an option overlay. You pay fund-level fees (typically 0.50–1.00% depending on the issuer) plus the wrapper's option-overlay mechanics for exposure you could get more cheaply by holding the underlying stock directly. The income is generated by capping upside.
Source: Israelov & Nielsen, 'Covered Calls Uncovered' (Financial Analysts Journal 2015)
Why we flagged this: strategy=option_income + single_stock_wrapper
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
What's next?
You've reviewed MSFY. Save it to your watchlist to track it alongside the other funds you're weighing.
Data updated on 2026-06-19