JEPY

The Defiance S&P 500 Enhanced Options Income ETF (JEPY) is an exchange-traded fund designed to generate income through options strategies linked to the S&P 500. The ETF is managed by Defiance ETFs and trades under the ticker JEPY on NYSE Arca.

Classified as an equity ETF employing an active income strategy based on options tied to the S&P 500, JEPY seeks to generate distributable income, before fees and expenses, through a combination of U.S. equity-market exposure and systematic derivatives strategies.

The fund does not passively replicate the S&P 500 Index. Its methodology combines economic exposure to companies within the index with covered call strategies and periodic position adjustments based on market conditions and operational parameters defined by the manager.

The strategy seeks to capture volatility premiums associated with options trading and may partially limit upside participation during stronger equity-market rallies.

Diversification and sector exposure

JEPY provides indirect exposure to major sectors of the U.S. equity market through companies associated with the S&P 500, including:

• Information technology.

• Health care.

• Consumer discretionary and consumer staples.

• Communication services.

• Financials.

• Industrials.

This composition reflects the sector structure of the U.S. market combined with the ETF’s active options strategy.

Structure and costs

JEPY shares trade on the secondary market on NYSE Arca during regular trading hours. Creation and redemption occur through authorized participants, helping maintain alignment between market price and net asset value.

The fund charges a management fee as outlined in its prospectus and does not apply a performance fee. JEPY may distribute income generated primarily from option premium strategies.

History and evolution of the ETF

The Defiance S&P 500 Enhanced Options Income ETF was launched in 2023, during a period of growing demand for income-oriented ETFs based on derivatives and equity-index option strategies.

Since inception, the fund has reflected movements related to implied volatility, fluctuations in the U.S. equity market, and Federal Reserve monetary policy cycles.

In recent years, JEPY has reflected changes in macroeconomic conditions, market-volatility dynamics, and growing investor interest in income strategies based on options tied to U.S. equities.

Additional Information

Defiance S&P 500 Enhanced Options Income ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $66.98 Millions.

Over the past 12 months, Defiance S&P 500 Enhanced Options Income ETF recorded a return of -11.07%, with its price trading between $27.75 and $34.61 during the same period.

The ETF is traded under the ticker JEPY.