IncomeShares Monthly Income and AUM Breakdown: Jan–Apr 2025

Between January and April 2025, IncomeShares products have grown steadily – both in total assets under management (AUM) and in the monthly income paid to investors. In April, IncomeShares paid out $3.2 million in income distributions to investors across all 11 ETPs (exchange-traded products). This article breaks down the numbers over the period.

How IncomeShares aims to generate income

IncomeShares exchange-traded products aim to generate monthly income by selling call and put options on single stocks, US stock market indexes, and gold. By selling options, IncomeShares ETPs aim to earn options premiums as income. This income may then be passed on to investors in the form of monthly income distributions.

Once that income is paid to investors, it's subtracted from the ETPs net asset value (NAV). These regular income payouts can result in NAV erosion. The more income paid out to investors each month, the more value that’s subtracted from the ETP’s NAV.

AUM and income performance: Jan–Apr 2025

Despite paying out regular income each month, IncomeShares AUM has grown steadily in 2025. AUM grew from $7.5 million in January to $34.1 million in April — a more than 4x increase in four months. The growth in AUM reflects more investment in IncomeShares ETPs.

Monthly income paid to investors rose from $337,000 in January to $3.2 million in April. As a percentage of AUM, that’s a jump from 4.4% to 9.4%. But past performance is no guarantee of future results.

Here’s the month-by-month snapshot across all 11 ETPs:

• Jan: $7.5M AUM – $0.3M income (4.4% of AUM)
• Feb: $21.1M AUM – $1.2M income (5.6% of AUM)
• Mar: $25.0M AUM – $1.7M income (6.8% of AUM)
• Apr: $34.1M AUM – $3.2M income (9.4% of AUM)

Which ETPs are leading the way?

The IncomeShares Nasdaq 100 (QQQY) and S&P 500 (SPYY) options strategies have seen consistent demand. Together, they now manage over $12 million in AUM — and paid out nearly $2 million in income distributions in April. QQQY and SPYY use 0DTE put write strategies – selling put options that expire the same day.

The Coinbase options ETP (COIY), which uses a covered call strategy on Coinbase stock, has also gained momentum. Its AUM jumped from approximately $737K in January to $6.6 million in April. COIY is now the second largest IncomeShares ETP by AUM (behind QQQ). It paid out $510K in income in April, with a monthly income yield of 7.7% of its NAV.

All figures are as of April 30, taken from IncomeShares Interest Declarations.

Key takeaways

• IncomeShares products paid out $3.2 million in April – the highest monthly income yet.
• AUM has grown more than 4x since January, despite regular income payouts.
• COIY (Coinbase) and QQQY (Nasdaq 100) are among the fastest-growing strategies so far this year.