At a glance
AMZP charges 0.99% a year. It has $18.4M in assets; it paid 19.22% of its price in distributions over the past 12 months, monthly. Over the past year it returned +3.0% with distributions reinvested.
The short version
Kurv Yield Premium Strategy Amazon ETF (AMZP) gets its exposure to Amazon.com stock mainly through options, backed by short-term U.S. Treasury bills, and sells call options, collecting cash up front in exchange for some of Amazon's upside. The draw is monthly income, with a trailing 12-month yield of 19.22% as of October 27, 2026; the trade-offs are capped gains in strong rallies, dependence on a single company and a 0.99% yearly cost.
Price history
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AMZP +3.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| AMZP official prospectus, to Dec 31, 2025 | — | +9.30% | — | — | — | +27.26% |
| AMZP price data to Oct 27, 2026 | +1.6% | +3.0% | — | — | — | +18.2% |
- Over the year to Oct 27, 2026, AMZP returned +3.0%.
- Its worst full calendar year was 2025 (+9.4%); its best was 2024 (+37.4%).
- The deepest fall in its price history was 27.5% (Feb 4, 2025 to Apr 21, 2025), recovered by Aug 28, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +1.6% | — |
| 2025 | +9.4% | +9.30% |
| 2024 | +37.4% | +37.31% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $3.8000 | |
| 2025 | $6.2500 | +28.9% |
| 2024 | $4.8500 |
What's inside
As of Aug 31, 2026, the fund held 3 securities; the ten largest made up 97.46% of assets.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 32.81% | |
| TREASURY BILL Bonds and notes | 32.53% | |
| TREASURY BILL Bonds and notes | 32.12% |
By country
United States 97.46%By issuer
US Treasury 97.46%The bonds mature in 0.3 years on average (weighted by size), with an average coupon of 0%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $2.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -13.32%, +11.43%, -5.04%.
How it works
AMZP follows no index. Its adviser, Kurv Investment Management, aims for current income tied to Amazon.com stock. Normally at least 80% of net assets goes to Amazon stock or Amazon derivatives, mostly options, counted at their notional value (the value of the shares the contracts represent). A typical setup is a “synthetic long”: buying calls, which gain when Amazon rises, and selling puts, which lose when it falls, at the same preset “strike” price and expiry, so the pair moves much like the shares. The prospectus lets this exposure reach 200% of net asset value.
Bonds back the options. As of August 31, 2026, three U.S. Treasury bills averaging about 0.3 years to maturity made up 97.5% of assets, with 1.8% in cash and no Amazon shares held directly. Six Amazon option positions, some bought and some sold, netted just 0.8% of assets, since options can control far more stock than they cost.
Much of its income comes from selling call options, which brings in cash up front. The catch: if Amazon climbs past the strike price, losses on those calls cancel out further gains, so upside is capped. The adviser may go further, selling “uncovered” calls beyond its Amazon exposure when it sees options as mispriced, which can lose money, with no offsetting gain, if Amazon jumps.
What it really costs
- AMZP charges 0.99% a year.
- Of that, 1.15% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.16% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $101 in the first year and $1,387 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| AMZP | $101 | $351 | $619 | $1,387 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
Its income and price hinge on options tied to one company, Amazon.com, so it can swing sharply, as its 27.5% drop in early 2025 showed.
AMZP could add large monthly payouts: its trailing 12-month yield was 19.22%, or $4.80 a share, as of October 27, 2026. Much of that comes from option sales, is usually taxed as ordinary income and can vary. The fund launched October 31, 2023, so it has no record in the 2008, 2020 or 2022 downturns. Of its two full calendar years, the weaker, 2025, returned 9.3%, but from February 4 to April 21, 2025, it fell 27.5%, recovering by August 28, about four months later. Volatility (how widely returns swing) was 34.9% over the year to October 27, 2026. Anyone needing to cash out shares in a slump like that would lock in losses. Net expenses are 0.99%, or $101 in the first year on $10,000 in the SEC's example. Past results don't predict the future, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking monthly income linked to Amazon.com who accept that the 19.22% trailing yield (as of October 27, 2026) can change.
- People who expect Amazon's stock to drift or rise modestly and will give up gains in big rallies for option income.
- Investors who can hold it in an IRA or similar tax-advantaged account, since its option income is usually taxed as ordinary income.
Look elsewhere if
- Anyone wanting Amazon's full upside: sold call options cap gains in strong rallies, and uncovered calls can lose money when Amazon jumps.
- Investors needing diversification or steady prices: it rides on one company and fell 27.5% between February and April 2025.
- Cost-conscious investors or those wanting a long record: it charges 0.99%, held $18.4 million as of August 31, 2026, and launched in October 2023.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
No close alternatives found.
Questions investors ask
Does AMZP pay monthly dividends?
Yes. AMZP pays distributions monthly. Over the 12 months to October 27, 2026, it paid $4.80 a share, a trailing yield of 19.22%. Much of that money comes from selling call options on Amazon.com stock, along with interest on the fund's Treasury bills. Payouts can vary, and option income is usually taxed as ordinary income rather than as qualified dividends. A high yield isn't the same as a high return: the fund's one-year return to October 27, 2026, was 3%.
Is AMZP good for retirement income?
AMZP can produce large monthly payouts, but it is a concentrated, higher-risk way to get them. Its income and price depend on one stock, Amazon.com. It fell 27.5% between February 4 and April 21, 2025, and its one-year volatility was 34.9% as of October 27, 2026. Having launched October 31, 2023, it has no record through the 2008, 2020 or 2022 downturns. How it fits depends on the rest of a portfolio.
What's the difference between AMZP and owning Amazon stock?
AMZP trades some of Amazon's upside for income. Instead of owning shares, it gets Amazon exposure mainly through options, backed by U.S. Treasury bills that made up about 97.5% of assets as of August 31, 2026. It sells call options for income, so if Amazon rallies past the strike prices, the fund's gains are capped. Those premiums cushion only part of any drop. It also charges 0.99% a year, a cost direct shareholders don't pay.
What is AMZP's expense ratio?
AMZP's net expense ratio is 0.99%, according to its prospectus filed September 28, 2026. That reflects a 1.15% management fee reduced by a 0.16% fee waiver. Under the SEC's standard example, with $10,000 invested, a 5% yearly return and shares sold at the end of each period, costs would total about $101 after one year, $351 after three, $619 after five and $1,387 after ten. That is well above what many broad index funds charge.
How has AMZP performed since it launched?
It gained in both of its full calendar years, 2024 and 2025, with big swings along the way. Its prospectus shows returns of 37.31% in 2024 and 9.3% in 2025, and an average annual return of 27.26% from its October 31, 2023, launch through December 31, 2025. Its strongest quarter gained 16.12% (ended December 31, 2024) and its weakest lost 12.37% (ended March 31, 2025). For the year to date through October 27, 2026, it was up 1.65%. Past results don't predict future returns.