{"id":75747,"date":"2023-10-23T05:49:29","date_gmt":"2023-10-23T09:49:29","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/tsly-etf-income-investors-beware-a-potential-trap-awaits-you\/"},"modified":"2023-10-23T05:49:38","modified_gmt":"2023-10-23T09:49:38","slug":"tsly-etf-income-investors-beware-a-potential-trap-awaits-you","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=75747","title":{"rendered":"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture>  <\/picture><figcaption> <\/figcaption><\/figure>\n<\/p>\n<h2>Introduction<\/h2>\n<p>A new wave of covered call ETFs have swept unsuspecting income investors away with eye-popping distribution rates. The YieldMax TSLA Option Income Strategy ETF (<span class=\"ticker-hover-wrapper\">NYSEARCA:TSLY<\/span>) is one such ETF currently promising a 60% distribution rate. You read<span class=\"paywall-full-content invisible\"> that right. Sixty percent.<\/span><\/p>\n<p class=\"paywall-full-content invisible\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/59331233-1697922118379605.png\" alt=\"distribution rate and 30-day SEC yield of TSLY\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">TSLY Distributions <span>(YieldMax ETFs)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible\">TSLY (I&#8217;ve been pronouncing it &#8220;tes-lee&#8221;, please comment if you call it something different) has a singular strategy: sell options against Tesla (TSLA) for income and maintain an 80% price exposure cap.<\/p>\n<h2 class=\"paywall-full-content invisible\">Brief Overview<\/h2>\n<p class=\"paywall-full-content invisible\">At a glance:<\/p>\n<ul class=\"paywall-full-content invisible\">\n<li>\n<p>Price: $11.94<\/p>\n<\/li>\n<li>\n<p>Dividend Yield: 4.65%<\/p>\n<\/li>\n<li>Distribution Rate: 60.09%<\/li>\n<li>\n<p>Beta: 3.62<\/p>\n<\/li>\n<li>\n<p>Volatility (1Y): 57.63<\/p>\n<\/li>\n<li>\n<p>30-Day Trading Volume: 42,593,562<\/p>\n<\/li>\n<li>\n<p>AUM: $680,320,000<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible\">As per YieldMax:<\/p>\n<blockquote class=\"paywall-full-content invisible\">\n<p>The YieldMax\u2122 TSLA Option Income Strategy ETF (TSLY) is an actively managed fund that seeks to generate monthly income by selling\/writing call options on TSLA. TSLY pursues a strategy that aims to harvest compelling<span class=\"paywall-full-content no-summary-bullets invisible\"> yields, while retaining capped participation in the price gains of TSLA.<\/span><\/p>\n<p class=\"paywall-full-content no-summary-bullets invisible\">The Fund\u2019s primary investment objective is to seek current income. The Fund\u2019s secondary investment objective is to seek exposure to the share price of the common stock of Tesla, Inc. (\u201cTSLA\u201d), subject to a limit on potential investment gains.<\/p>\n<\/blockquote>\n<p class=\"paywall-full-content invisible no-summary-bullets\">This strategy may sound very compelling to many income investors, but as with all things: there&#8217;s more than first meets the eye (or meets the spreadsheet, I suppose). Covered call ETFs are nothing new, and their performance has overall been uncompelling to say the least. There are some shiny diamonds in the rough, for example, I recently gave a buy rating to a very similar covered call strategy employed on long-term bonds, TLTW.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">TSLY is just one of many, by the way. Here&#8217;s a list of the others launched alongside and around TSLY (which is one of the oldest of their funds).<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure a-c paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/59331233-16979230678312716.png\" alt=\"list of YieldMax tickers including TSLY\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">YieldMax Covered Call Suite <span>(YieldMax ETFs)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">The Strategy<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\"><em>First off, this is not an analysis of TSLA itself. That should be its own article. Instead, I am just going to be evaluating the strategy itself and see if it has lent or could lend value to TSLA shareholders moving forward. This analysis will assume you are already somewhat bullish on TSLA itself, at least up to an 80% price exposure cap.<\/em><\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">YieldMax has done quite a bit of clever trading in this ETF. The ETF only has nine holdings, including cash, shown below.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/59331233-16979237862896495.png\" alt=\"TSLY holdings\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">TSLY Holdings <span>(YieldMax ETFs)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">We should take note of several things in the construction of this ETF:<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>Underlying the strategy is a portfolio of US treasury notes currently weighted at 119% of the fund&#8217;s NAV\n<ul>\n<li>The yield on these notes are terribly low compared to today&#8217;s rates because they were purchased in 2021. We should expect to see a higher yield from the notes once they are rolled into newer issues. The current 2YR treasury yield 5% <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>The fund managers sell puts and buy call spreads to access TSLA price exposure via options delta, then sell tranches of calls against that position<\/li>\n<li>The fund is actively managed intraday in order to keep price exposure capped, meaning these holdings are dynamic and are constantly influenced by the change in price of both TSLA and the underlying options\n<ul>\n<li>Options pricing can be very fickle since there is more at play than just price. Changes in volatility, interest rates, and time all have an effect<\/li>\n<\/ul>\n<\/li>\n<li>There is significant volatility risk in the portfolio due to the options overlay and using derivatives for both the long and short exposure<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">When you map out the current options holdings as of today, here&#8217;s what our profit\/loss chart looks like at various dates assuming the price of TSLA.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/59331233-16979250274896832.png\" alt=\"chart showing P\/L at different dates for TSLY options\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">P\/L Table for TSLY Options <span>(Portfolio Visualizer)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The dividends are income come and are paid once a month, following a very predictable pattern. The payments vary wildly as volatility and price action change how much the fund makes in a given month.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/59331233-16979273766381304.png\" alt=\"chart showing dates TSLY paid dividends\" contenteditable=\"false\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\">Distribution Dates <span>(YieldMax ETFs)<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Performance<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Now that you&#8217;re up to speed on what&#8217;s going on under the hood, let&#8217;s see performance.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"sa-widget sa-ycharts paywall-full-content invisible\"><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/saupload_b5fa27019767f55b1e38152b41d38564.png\" alt=\"Chart\" width=\"635\" height=\"366\" class=\"sa-ycharts-img\" data-width=\"635\" data-height=\"366\" loading=\"lazy\"><figcaption>Data by YCharts<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">A swing and a miss! Since inception, except for the first few months, TSLY&#8217;s total return has trailed TSLA&#8217;s. Since inception, TSLY has lost investors almost 4% while TSLA, in that same timeframe, appreciated nearly 16%. Ouch.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The cause of this is complex, because options pricing and active trading is complex. The meat of it is this: high volatility increases the income from the options, but also the returns from TSLA. Over time, the extra 20% price increase that TSLY missed out on wasn&#8217;t covered by its own distributions. So while income looks very high, it can still be less than the price return from 80% of the underlying.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">This is the trap that TSLY has set, trying to lure in investors with the promise of current income at the cost of equity exposure.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"sa-widget sa-ycharts paywall-full-content invisible\"><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/saupload_7a9e58a6062d1f7463f1c5fc10636009.png\" alt=\"Chart\" width=\"635\" height=\"366\" class=\"sa-ycharts-img\" data-width=\"635\" data-height=\"366\" loading=\"lazy\"><figcaption>Data by YCharts<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I mentioned risk in the beginning of the article, and there is certainly a lot of risk, but I do have to mention the fund&#8217;s out performance in its own volatility against TSLA. The managers are getting better at hedging risk in the portfolio as time has gone on, and you can see this as the fund begins to become more steady while TSLA&#8217;s volatility has remained the same.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">While TSLY does have some buffer to the downside to protect drawdowns, it isn&#8217;t enough to justify itself and restricts the upside too much. Since inception, assuming we DRIP, we&#8217;ve seen the following:<\/p>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<tr>\n<td> <\/td>\n<td>Return<\/td>\n<td>Max Drawdown<\/td>\n<\/tr>\n<tr>\n<td>TSLA<\/td>\n<td>8.88%<\/td>\n<td>(36.73)%<\/td>\n<\/tr>\n<tr>\n<td>TSLY<\/td>\n<td>(10.42)%<\/td>\n<td>(31.58)%<\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Counterpoints<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Here are some of the bullish arguments that are worth considering. I don&#8217;t find them compelling enough to sway my rating away from a sell, but it is important that we hear them out anyway.<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>The newly issued bonds will provide a good yield to TSLY, providing more cushion to the downside than in previous years<\/li>\n<li>As the managers perfect their strategy, we should see continued reduced volatility to the downside and more consistent income<\/li>\n<li>In a tax-advantaged account like a Roth IRA, TSLY can provide incredible amounts of tax-free income<\/li>\n<li>Volatility is climbing, meaning that we may see a return to higher distributions moving forward, since volatility directly affects options pricing<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"sa-widget sa-ycharts paywall-full-content invisible\"><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/saupload_c5aee0fbfc0eb305046a672be43da268.png\" alt=\"Chart\" width=\"635\" height=\"366\" class=\"sa-ycharts-img\" data-width=\"635\" data-height=\"366\" loading=\"lazy\"><figcaption>Data by YCharts<\/figcaption><\/figure>\n<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Conclusion<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The allure of covered call ETFs, especially those like TSLY with staggering distribution rates, can be tempting for income investors. However, a deep dive into the strategy and performance of TSLY reveals that the promise of high income might come at the expense of equity exposure and potential capital appreciation.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">While TSLY offers a unique approach to generating income by selling options against Tesla, its total return since inception has been less than satisfactory when compared to TSLA&#8217;s own performance. The intricacies of options pricing, combined with the dynamic nature of the fund&#8217;s holdings, introduce complexities and risks that investors must be wary of. Although there are some bullish arguments in favor of TSLY, such as the potential for reduced price volatility and the prospect of higher distributions due to rising volatility, the evidence suggests caution.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4642553-tsly-income-investors-beware-potential-trap-etf?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction A new wave of covered call ETFs have swept unsuspecting income investors away with eye-popping distribution rates. The YieldMax TSLA Option Income Strategy ETF (NYSEARCA:TSLY) is one such ETF currently promising a 60% distribution rate. You read that right. Sixty percent. TSLY Distributions (YieldMax ETFs) TSLY (I&#8217;ve been pronouncing it &#8220;tes-lee&#8221;, please comment if [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":75748,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-75747","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TSLY ETF: Income Investors Beware, A Potential Trap Awaits You | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Introduction A new wave of covered call ETFs have swept unsuspecting income investors away with eye-popping distribution rates. The YieldMax TSLA Option\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=75747\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Introduction A new wave of covered call ETFs have swept unsuspecting income investors away with eye-popping distribution rates. The YieldMax TSLA Option\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=75747\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-23T09:49:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-23T09:49:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1698054575_image_1422219755.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1014\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=75747#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=75747\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You\",\"datePublished\":\"2023-10-23T09:49:29+00:00\",\"dateModified\":\"2023-10-23T09:49:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=75747\"},\"wordCount\":1184,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=75747#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=75747\",\"url\":\"https:\/\/ifintechworld.com\/?p=75747\",\"name\":\"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-23T09:49:29+00:00\",\"dateModified\":\"2023-10-23T09:49:38+00:00\",\"description\":\"Introduction A new wave of covered call ETFs have swept unsuspecting income investors away with eye-popping distribution rates. The YieldMax TSLA Option\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=75747#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=75747\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=75747#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You | iFintechWorld","description":"Introduction A new wave of covered call ETFs have swept unsuspecting income investors away with eye-popping distribution rates. The YieldMax TSLA Option","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=75747","og_locale":"en_US","og_type":"article","og_title":"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You | iFintechWorld","og_description":"Introduction A new wave of covered call ETFs have swept unsuspecting income investors away with eye-popping distribution rates. The YieldMax TSLA Option","og_url":"https:\/\/ifintechworld.com\/?p=75747","og_site_name":"iFintechWorld","article_published_time":"2023-10-23T09:49:29+00:00","article_modified_time":"2023-10-23T09:49:38+00:00","og_image":[{"width":1536,"height":1014,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1698054575_image_1422219755.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=75747#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=75747"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You","datePublished":"2023-10-23T09:49:29+00:00","dateModified":"2023-10-23T09:49:38+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=75747"},"wordCount":1184,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=75747#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=75747","url":"https:\/\/ifintechworld.com\/?p=75747","name":"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-23T09:49:29+00:00","dateModified":"2023-10-23T09:49:38+00:00","description":"Introduction A new wave of covered call ETFs have swept unsuspecting income investors away with eye-popping distribution rates. The YieldMax TSLA Option","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=75747#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=75747"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=75747#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"TSLY ETF: Income Investors Beware, A Potential Trap Awaits You"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/75747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=75747"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/75747\/revisions"}],"predecessor-version":[{"id":75749,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/75747\/revisions\/75749"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/75748"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=75747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=75747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=75747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}