GraniteShares YieldBoost HIMS ETF (HMYY)

The GraniteShares YieldBoost HIMS ETF (HMYY) is an actively managed income fund from GraniteShares tied to the share price of Hims & Hers Health, Inc. (NYSE: HIMS), the telehealth company.

Rather than owning Hims & Hers shares, the fund sells put options on a leveraged ETF that seeks twice the daily return of the stock, collecting option premiums that are paid out as frequent distributions. Its assets are held mainly in short-term U.S. Treasuries as collateral.

This approach generates income from the high volatility of the leveraged product, but the fund does not participate in gains above the premiums collected and can suffer significant losses if the underlying stock falls sharply.