Defiance S&P 500 Target Income (SPYT)Large Blend | Exchange Traded Fund | NYSEArca
17.50 USD
-0.02
(-0.114%) ⇩
(Aug. 28, 2026, 4 p.m.
EDT)
After hours: 17.60 +0.10 (0.566%) ⇧ (Aug. 28, 2026, 7:52 p.m. EDT) |
Hot Take ↕ | Aug. 22, 2026, 1:38 a.m. EDT
This instrument is a classic 'yield trap' disguised as a defensive play. While the headline 16.66% yield is seductive, the price history tells a different story: the asset has lost nearly 7.5% of its value over the last year, meaning the total return is significantly lower than the headline yield implies. The recent price action shows the stock is essentially flatlining, trading right around its 50-day and 200-day averages, which confirms a lack of momentum. The news headlines correctly identify the core flaw: the covered call strategy caps gains during rallies, effectively turning the fund into a bond proxy that underperforms peers like the S&P 500 index itself. For a short-term trader, the lack of volatility and the heavy put open interest suggest the market expects further weakness or stagnation. For a long-term holder, the capital erosion combined with capped upside makes it a mediocre investment compared to owning the underlying equities directly. |
| Model | MAE |
|---|---|
| MSTL ✓ | 0.008069 |
| AutoETS | 0.009996 |
| AutoARIMA | 0.010029 |
| AutoTheta | 0.012695 |
Forecast horizon: 45 days | Selected: MSTL
| Forecast Reliability | |
|---|---|
| Score | 59% |
| H-stat | 3.83 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.800 |
| Excess Kurtosis | -0.23 |
| Attribute | Value |
|---|---|
| Trailing P/E | 25.56 |
As of Aug. 22, 2026, 1:38 a.m. EDT: Speculators are positioning for continued stagnation rather than a breakout. Call open interest is heavily concentrated at the $18 strike, acting as a ceiling, while put open interest dominates at lower strikes ($15-$16), creating a 'bear put' skew. The massive implied volatility spike on deep out-of-the-money calls suggests fear of a sudden, sharp spike, yet actual volume remains thin, indicating a lack of genuine bullish conviction.
| Last Yield | 1yr Yield | 3yr Avg | 5yr Avg |
|---|---|---|---|
| 1.66% | 20.63% | — | — |
| Date | Dividend | Yield % |
|---|---|---|
| 2026-08-03 | 0.286 | 1.658933 |
| 2026-07-01 | 0.290 | 1.680185 |
| 2026-06-01 | 0.300 | 1.690141 |
| 2026-05-01 | 0.290 | 1.675332 |
| 2026-04-01 | 0.264 | 1.637717 |
| 2026-03-02 | 0.291 | 1.707746 |
| 2026-02-02 | 0.296 | 1.691429 |
| 2025-12-31 | 0.312 | 1.783877 |
| 2025-12-01 | 0.314 | 1.768018 |
| 2025-11-03 | 0.321 | 1.765677 |
| 2025-10-01 | 0.322 | 1.773128 |
| 2025-09-02 | 0.322 | 1.801903 |
| 2025-08-01 | 0.320 | 1.812005 |
| 2025-07-01 | 0.308 | 1.724524 |
| 2025-06-02 | 0.300 | 1.715266 |
| 2025-05-01 | 0.284 | 1.690476 |
| 2025-04-01 | 0.298 | 1.721548 |
| 2025-03-03 | 0.316 | 1.725833 |
| 2025-02-03 | 0.327 | 1.713836 |
| 2024-12-31 | 0.328 | 1.713689 |
| 2024-12-02 | 0.336 | 1.685055 |
| 2024-11-01 | 0.332 | 1.716649 |
| 2024-10-01 | 0.334 | 1.704951 |
| 2024-09-03 | 0.333 | 1.719153 |
| 2024-07-31 | 0.330 | 1.680244 |
| 2024-07-01 | 0.337 | 1.693467 |
| 2024-06-03 | 0.330 | 1.683673 |
| 2024-05-01 | 0.324 | 1.701681 |
| 2024-04-01 | 0.340 | 1.697539 |
| Attribute | Value |
|---|---|
| All Time High | 20.765 |
| All Time Low | 14.87 |
| Ask | 17.5 |
| Ask Size | 8,200 |
| Average Daily Volume10 Day | 110,950 |
| Average Daily Volume3 Month | 127,570 |
| Average Volume | 127,570 |
| Average Volume10Days | 110,950 |
| Beta3 Year | 0.0 |
| Bid | 17.46 |
| Bid Size | 7,800 |
| Category | Large Blend |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 17.59 |
| Day Low | 17.465 |
| Dividend Yield | 16.66 |
| Eps Trailing Twelve Months | 0.6846597 |
| Esg Populated | 0 |
| Exchange | PCX |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 17.3643 |
| Fifty Day Average Change | 0.13570023 |
| Fifty Day Average Change Percent | 0.007814897 |
| Fifty Two Week Change Percent | -1.9585907 |
| Fifty Two Week High | 18.68 |
| Fifty Two Week High Change | -1.1800003 |
| Fifty Two Week High Change Percent | -0.06316918 |
| Fifty Two Week Low | 15.77 |
| Fifty Two Week Low Change | 1.7299995 |
| Fifty Two Week Low Change Percent | 0.10970193 |
| Fifty Two Week Range | 15.77 - 18.68 |
| First Trade Date Milliseconds | 1,709,821,800,000 |
| Full Exchange Name | NYSEArca |
| Fullday Change | -0.0200005 |
| Fullday Change Percent | -0.114158 |
| Fullday Price | 17.5991 |
| Fund Family | Defiance ETFs LLC |
| Fund Inception Date | 1,709,510,400 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Has Pre Post Market Data | 1 |
| Language | en-US |
| Legal Type | Exchange Traded Fund |
| Long Business Summary | The fund’s strategy involves holding shares of unaffiliated passively managed ETFs that seek to track the performance of the index (“Index ETFs”) and selling daily credit call spreads on the index. Its daily credit call spread strategy consists of selling a call option and simultaneously buying another call option at a higher strike price for income generation. The fund is non-diversified. |
| Market | us_market |
| Market State | CLOSED |
| Max Age | 86,400 |
| Message Board Id | finmb_1869443373 |
| Nav Price | 17.4101 |
| Net Assets | 155,054,656.0 |
| Net Expense Ratio | 0.92 |
| Open | 17.55 |
| Post Market Change | 0.09910011 |
| Post Market Change Percent | 0.5662864 |
| Post Market Price | 17.5991 |
| Post Market Time | 1,787,961,168 |
| Previous Close | 17.52 |
| Price Hint | 2 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | -0.0200005 |
| Regular Market Change Percent | -0.114158 |
| Regular Market Day High | 17.59 |
| Regular Market Day Low | 17.465 |
| Regular Market Day Range | 17.465 - 17.59 |
| Regular Market Open | 17.55 |
| Regular Market Previous Close | 17.52 |
| Regular Market Price | 17.5 |
| Regular Market Time | 1,787,947,200 |
| Regular Market Volume | 108,948 |
| Short Name | Defiance S&P 500 Target Income |
| Source Interval | 15 |
| Symbol | SPYT |
| Total Assets | 155,054,656 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing P E | 25.560143 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | 3.46063 |
| Trailing Three Month Returns | 3.46063 |
| Triggerable | 1 |
| Two Hundred Day Average | 17.37942 |
| Two Hundred Day Average Change | 0.12058067 |
| Two Hundred Day Average Change Percent | 0.00693813 |
| Type Disp | ETF |
| Volume | 108,948 |
| Yield | 0.1666 |
| Ytd Return | 9.26279 |