IncomeShares Monthly Investor Update – June 2026

IncomeShares assets under management closed June at $189.1 million – up about 2.9% from May. Total AUM has risen every month since July 2024, when we launched our first exchange-traded products.

June also set new highs for inflows and trading turnover. Distribution yields were mixed, with moves in both directions. This update breaks down the numbers for June.

Assets under management

Gold+ Yield is still our largest product, with $38.9 million in AUM. Our Magnificent 7 basket, Nasdaq 100, Tesla, and Silver+ Yield ETPs ended June with $17.9, $17.0, $11.0, and $10.4 million in AUM, respectively. Together with Gold+ Yield, these ETPs account for about half of our total AUM.

Cumulative fund flows

Cumulative fund flows reached $230.8 million by the end of June – an 11.6% increase from May. This metric tracks the net amount of money investors have added to IncomeShares exchange-traded products since inception. Positive flows suggest a growing demand.

Net inflows came to $24.0 million for the month – the largest monthly figure of the past 12 months. Our Gold+ Yield and Magnificent 7 ETPs saw the biggest net inflows in June, adding $2.3 and $1.8 million, respectively.

Total fund flows have also risen every month since inception, and continue to exceed total AUM. That's expected for products that pay monthly income. Distributions come from the option premiums each strategy collects. When we pay that income out, the NAV falls by the payout amount – so cumulative inflows can naturally run ahead of AUM over time.

Trading turnover

Total IncomeShares trading activity reached $72.9 million across exchanges in June – a new monthly record. That's up about 13% from May's previous high of $64.4 million. The LSE accounted for $36.4 million of that across its USD and GBP lines, with Xetra close behind.

Here’s the June turnover broken down by exchange and currency:

• Xetra EUR: $33.0 million

• LSE GBP: $21.2 million

• LSE USD: $15.3 million

• Euronext EUR: $3.5 million

Note: Figures use IDC FX rates as of the June month-end to convert GBP and EUR into USD for comparison.

Distribution yields

Distribution yields represent the annualised income paid to investors as a percentage of an ETP's net asset value, based on the latest month's distribution. IncomeShares ETPs aim to generate this income from selling options. Yields change each month depending on strategy performance and market volatility.

June’s annualised distribution yields ranked from highest to lowest:

• ARM Options ETP: 170.9%

• Super Micro Computer Options ETP: 155.7%

• CoreWeave Options ETP: 146.7%

• IREN Options ETP: 145.5%

• Oracle Options ETP: 126.5%

• Bitmine Options ETP: 108.2%

• Strategy Options ETP: 106.4%

• Copper Miners+ Yield ETP: 104.2%

• Blockchain Leaders ETP: 93.5%

• Semiconductors Leaders ETP: 92.1%

• Circle Internet Options ETP: 86.1%

• Mara Options ETP: 84.4%

• AMD Options ETP: 82.8%

• AI Leaders ETP: 80.5%

• Uranium+ Yield ETP: 77.6%

• Palantir Options ETP: 72.7%

• Galaxy Digital Options ETP: 71.3%

• Riot Options ETP: 70.5%

• Broadcom Options ETP: 70.1%

• Nasdaq 100 Options ETP: 67.7%

• Robinhood Options ETP: 66.6%

• WTI Oil+ Yield ETP: 66.5%

• Coinbase Options ETP: 56.0%

• Silver Miners+ Yield ETP: 54.6%

• 75/10/15 Multi-Asset Growth ETP: 53.5%

• Alibaba Options ETP: 52.4%

• Gold Miners+ Yield ETP: 51.3%

• Tesla Options ETP: 48.7%

• Microsoft Options ETP: 46.8%

• NVIDIA Options ETP: 42.2%

• Alphabet Options ETP: 40.9%

• S&P 500 Options ETP: 39.1%

• Magnificent 7 Options ETP: 38.6%

• Meta Options ETP: 37.9%

• Eurostoxx 50 Options ETP: 32.4%

• Amazon Options ETP: 31.4%

• 60/30/10 Multi-Asset Balanced ETP: 28.3%

• UnitedHealth Options ETP: 25.2%

• Apple Options ETP: 24.9%

• Netflix Options ETP: 21.6%

• Berkshire Hathaway Options ETP: 17.7%

• Silver+ Yield ETP: 12.0%

• 20+ Year Treasury Options ETP: 12.0%

• Gold+ Yield ETP: 12.0%

Out of our 54 ETPs, 32 yields fell, 19 rose, and 3 were flat from May. These ETPs earn income by selling options, and an option's price depends on implied volatility – how much the market expects prices to move. When implied volatility falls, premiums tend to shrink, and so does the income available to distribute.

Most single-stock ETP yields fell as implied volatility on individual names compressed. Nvidia fell from 62% to 42%, Tesla from 65% to 49%, and Apple from 33% to 25%. The sector baskets – Blockchain Leaders, Semiconductors Leaders, and AI Leaders – followed their single-stock holdings lower.

Plenty of yields rose, though. All three index products paid more – Nasdaq 100 rose from 47% to 68%, S&P 500 from 27% to 39%, and Eurostoxx 50 from 24% to 32%. Both multi-asset ETPs also paid more. Index option premiums picked up as equity markets wobbled in early June, when the VIX briefly spiked above 23 on 9 June (source: CBOE via TradingView).

Commodity yields were split. Copper Miners+ Yield rose from 71% to 104% as copper volatility picked up, and Uranium+ Yield rose from 69% to 78%. WTI Oil+ Yield went the other way, falling from 121% to 67%.

Digital asset-linked ETPs saw the biggest declines – but from unusually high starting points. IREN paid 241% annualised in May and 146% in June. Coinbase fell from 104% to 56%. Smaller option premiums drove those drops. Digital asset markets sold off in early June and volatility briefly jumped, but it settled back down by mid-June. Option premiums on digital asset-linked stocks cheapened alongside, so these ETPs mostly collected less premium in June than in May.

Some single stock ETPs rose on events of their own. Oracle's yield climbed from 85% to 127%. Options priced in a big move around its 10 June results – and the shares fell after hours despite record numbers. ARM rose from 122% to 171%. The stock is up around 200% this year (source: TradingView), and moves that big tend to keep options expensive.

Gold+ Yield, Silver+ Yield, and 20+ Year Treasury all paid 12% annualised – that's 1% a month, unchanged. These three ETPs use covered call strategies and aim for a steadier income target of around 12% a year. Any premiums earned above the target stays in the fund to help feed total return instead of the monthly payout.

One technical point: a rising yield percentage doesn't always mean a bigger payout. The yield divides the latest distribution by the latest NAV, so a falling NAV can lift the percentage even when the payment fell. Monthly yields swing by design, so the averages in the tables below may provide the fairer read.

The tables below show distribution yields for each product category over the past 12 months.

Key takeaways

• IncomeShares AUM rose from $183.8 million to $189.1 million in June. Total AUM has increased every month since inception.

• Net inflows of $24.0 million were the largest of the past 12 months, taking cumulative fund flows to $230.8 million.

• Monthly turnover reached a record $72.9 million across exchanges. ARM, Super Micro Computer, and CoreWeave ETPs paid the highest distribution yields in June.