At a glance
NFLP charges 0.99% a year. It has $5.3M in assets; it paid 30.01% of its price in distributions over the past 12 months, monthly. Over the past year it returned −48.6% with distributions reinvested; over three years it returned +0.5% a year.
The short version
Kurv Yield Premium Strategy Netflix (NFLX) ETF (NFLP) seeks income from a single stock, Netflix, mainly through options rather than shares, with US Treasury bills as backing. It pays monthly, with a trailing 12-month yield of 30.01% as of October 27, 2026, though selling call options caps its gains and it lost 48.6% in the year to that date. Annual costs are 0.99% after a fee waiver.
Price history
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NFLP -48.6% 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 | |
|---|---|---|---|---|---|---|
| NFLP official prospectus, to Dec 31, 2025 | — | -1.66% | — | — | — | +28.10% |
| NFLP price data to Oct 27, 2026 | -41.0% | -48.6% | +0.5% | — | — | +0.5% |
- Over the year to Oct 27, 2026, NFLP returned -48.6%.
- Its worst full calendar year was 2025 (-1.5%); its best was 2024 (+53.1%).
- The deepest fall in its price history was 57.8% (Jun 30, 2025 to Oct 27, 2026), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -41.0% | — |
| 2025 | -1.5% | -1.66% |
| 2024 | +53.1% | +52.88% |
| 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) | $2.6500 | |
| 2025 | $7.3000 | +7.0% |
| 2024 | $6.8200 |
What's inside
As of Aug 31, 2026, the fund held 3 securities; the ten largest made up 101.04% of assets.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 43.49% | |
| TREASURY BILL Bonds and notes | 33.71% | |
| TREASURY BILL Bonds and notes | 23.85% |
By country
United States 101.04%By issuer
US Treasury 101.04%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 added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -19.55%, -0.09%, +15.63%.
How it works
Kurv Investment Management picks positions rather than tracking an index, aiming for current income. At least 80% of net assets must be in Netflix stock or derivatives, measured by the value of shares the contracts control. It mainly uses options: contracts giving the right to buy (a call) or sell (a put) at a set strike price by a set date. They include FLEX options, customized exchange-traded contracts guaranteed by the Options Clearing Corporation. To mimic owning Netflix, it can pair purchased calls with written puts at the same strike and expiry, a "synthetic long" position capped at 200% of net assets.
Much of its income comes from writing (selling) call options. The buyer pays the fund a premium, the option's price, but if Netflix rises past the strike price, losses on those calls offset further gains, capping the upside. If Netflix falls, premiums cushion only part of the loss. It may also write uncovered calls, beyond its Netflix exposure, which can lose heavily if Netflix surges.
As of August 31, 2026, three Treasury bills, short-term US government debt averaging 0.3 years to maturity, made up about 101% of $5.3 million in net assets. Five Netflix option positions supplied the stock exposure; it held no Netflix shares. The prospectus also permits preferred stock and foreign bonds.
What it really costs
- NFLP 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 |
|---|---|---|---|---|
| NFLP | $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
It concentrates on one stock through options, had annualized volatility (a measure of price swings) of 40.1% over the year to October 27, 2026, and was 57.8% below its peak on that date.
NFLP launched on October 27, 2023, so it has no record from the 2008, 2020 or 2022 downturns. Its worst full calendar year was 2025, at -1.66% per its prospectus, but it lost 40.96% in 2026 through October 27, based on market price. From its June 30, 2025 peak to October 27, 2026, it fell 57.8% and had not recovered by that date. Anyone forced to sell shares for spending money during that stretch would have sold far below the earlier high.
It pays monthly, with a trailing yield of 30.01% ($4.30 a share) as of October 27, 2026. That income is usually taxed as ordinary income, and the high payout did not prevent a 48.6% loss over the year to that date. Costs are 0.99% a year after a fee waiver. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking monthly income tied to Netflix who accept that the fund's written call options cap gains when the stock rallies sharply.
- Investors with diversified core funds who want a small, high-risk income position and can tolerate one-year volatility of 40.1% (as of October 27, 2026).
- Investors using tax-advantaged accounts, where option income's usual treatment as ordinary income, not qualified dividends, matters less.
Look elsewhere if
- People who may need to sell during a slump: NFLP fell 57.8% from its June 30, 2025 peak and hadn't recovered by October 27, 2026.
- Investors wanting income without losing principal: despite a 30.01% trailing yield, NFLP lost 48.6% over the year to October 27, 2026.
- Cost- and size-conscious investors: it charges 0.99% after a 0.16% fee waiver, and net assets were $5.3 million as of August 31, 2026.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
No close alternatives found.
Questions investors ask
Is NFLP good for retirement income?
It is a high-risk income fund, not a steady one. Its trailing yield was 30.01% as of October 27, 2026, but it lost 48.6% over the year to that date and was 57.8% below its June 30, 2025 peak. Its fortunes rest on one company, Netflix, and its written calls limit how much it can rebound. It may suit a small slice of an income portfolio for investors who can ride out large swings without needing to sell.
Does NFLP pay monthly dividends?
Yes, NFLP pays distributions monthly. It paid $4.30 per share over the 12 months to October 27, 2026, a trailing yield of 30.01%. The money comes mainly from writing options on Netflix and from interest on the Treasury bills it holds. Option income is usually taxed as ordinary income rather than as qualified dividends. Payouts can change from month to month, and a high yield does not mean the share price holds steady.
What's the difference between NFLP and owning Netflix stock?
NFLP trades some of Netflix's upside for option income. Owning Netflix shares gives the stock's full gains and losses. NFLP writes call options, so when Netflix rises past the price set in those contracts, losses on the calls offset further gains. When Netflix falls, the fund still takes most of the hit, softened only by the option payments it collected. NFLP also charges 0.99% a year, and as of August 31, 2026, it got its Netflix exposure through options backed by Treasury bills, not shares.
Is NFLP a leveraged ETF?
Not in the usual sense: it does not aim for a set daily multiple of Netflix's return. But its prospectus allows synthetic Netflix exposure, built from options, of up to 200% of net assets. It also lets the fund write uncovered calls (calls beyond its Netflix exposure), which can lose more than the payment collected if Netflix surges. As of August 31, 2026, it held five Netflix option positions and three Treasury bills worth about 101% of net assets, but no Netflix shares.
What is NFLP's expense ratio?
NFLP's expense ratio, the yearly fee taken from fund assets, is 0.99%, according to its prospectus filed September 28, 2026. That is a 1.15% management fee minus a 0.16% fee waiver. In the SEC's standard example, $10,000 invested with a 5% annual return would cost about $101 over one year, $351 over three years, $619 over five years and $1,387 over ten years, assuming shares are sold at the end of each period. Fee waivers can end, which would raise costs.