Builds a synthetic position in COIN from call and put options and sells call options against it for income, giving up much of the stock's upside.
ICOI, the Bitwise COIN Option Income Strategy ETF, is a $13 million ETF whose main story is the income overlay.
The narrative it carries
Its main narrative, at 0.7 of its exposure.
The income overlay →
ETFs built to pay income: dividend stocks, municipal bonds, preferred shares and covered calls.
The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.
| # | ETF | SHARE | ASSETS | 1 YEAR | COST |
|---|---|---|---|---|---|
| 1 | VIG | 10.5% | $114.51bn | +10.1% | 0.04% |
| 2 | SCHD | 9.9% | $107.89bn | +23.9% | 0.06% |
| 3 | VYM | 7.7% | $83.99bn | +13.8% | 0.04% |
| 4 | MUB | 4.3% | $46.62bn | −2.0% | 0.05% |
| 5 | VTEB | 4.2% | $45.69bn | −2.2% | 0.03% |
| 624 other ETFs | 63.4% |
Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 629 ETFs on the narrative page →
Also carries: Crypto conviction →
Bitcoin, ether and the companies around them, held through ETFs.
How it is built
An unlevered long ETF that owns its holdings directly. It sells call options on its holdings, trading some upside for income. It counts toward Share of Narrative.
Narrative exposure
Second narrative: set by a stated classification convention.
Common questions
What story is ICOI selling?
ICOI’s main story is the income overlay, which covers ETFs built to pay income: dividend stocks, municipal bonds, preferred shares and covered calls. Its second is crypto conviction.
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