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WDTEDefiance S&P 500 Target 30 Weekly Distribution ETF

Get income2y track recordRanked #1,302 of 1,650 in this goal

Seeks current income through options premiums and exposure to the S&P 500 Index.

By Defiance ETFs LLC · Launched 2023

Annual Cost

1.03%

#5,281 of 5,854 · expensive

Fund Size

$67M

#3,345 of 5,854 · mid-size

Dividend YieldGoal

18.89%

Track Record

2 years

#3,084 of 5,854 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,559+15.6%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 4 holdings = 98.2% of fundconcentrated

N/ASPX 12 C600
94.9%
First American Government Obli
3.3%
N/A
0.0%
N/A
0.0%

Asset allocation

Stocks
175.7%
Other
1.7%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
11.3%Moderate

Year-on-year price swings

Max drawdown
-15.9%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks current income through options premiums and exposure to the S&P 500 Index.
Strategy
Actively managed ETF that generates cash distributions from options premiums by holding shares of unaffiliated passively managed ETFs and selling daily credit call spreads on the S&P 500 Index. Aims for consistent distribution levels, primarily relying on options premiums generated from selling call spreads.
Inception date
September 18, 2023
Fund family
Defiance ETFs LLC

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-03