Key Highlights

  • HOYY (NASDAQ:HOYY) shows an indicated Yield of 257.91 percent on a USD 4.78 share price, built from USD 12.48 in trailing weekly distributions, equivalent to roughly 4.96 percent of the share price paid out every week.
  • Rather than holding Robinhood (NASDAQ:HOOD) stock, HOYY (NASDAQ:HOYY) sells put Options on a 2x Long HOOD Daily ETF, targeting 200 percent of the income a direct options seller on Robinhood (NASDAQ:HOOD) would collect.
  • HOYY (NASDAQ:HOYY) launched September 30, 2025, making it barely a year old, and already holds just USD 6.09 million in assets, among the smallest funds in the GraniteShares YieldBOOST lineup.
  • HOYY (NASDAQ:HOYY) charges a 1.07 percent expense ratio and carries full exposure to Robinhood's (NASDAQ:HOOD) downside, with no reverse split yet needed unlike sister funds COYY, MTYY and TSYY.

The Mechanics Behind HOYY's 258 Percent Yield

HOYY (NASDAQ:HOYY) sells put options on a 2x Long HOOD Daily ETF rather than owning Robinhood (NASDAQ:HOOD) shares, targeting 200 percent of the premium income a direct options seller on Robinhood (NASDAQ:HOOD) would collect, using strikes from 40 percent out-of-the-money to 10 percent in-the-money and maturities of one week to one month. Robinhood has been one of the more volatile retail brokerage names given its meaningful crypto trading Revenue exposure, so implied volatility, and therefore premium income, runs high, which is part of why HOYY's headline yield sits above several of its GraniteShares siblings. HOYY (NASDAQ:HOYY) pays weekly, and the indicated 257.91 percent annualizes the most recent distribution rather than guaranteeing a run rate.

A Fund Too Young to Have Proven Its NAV Path

HOYY launched September 30, 2025, about a year before this writing, one of the newest members of the YieldBOOST family alongside SMYY, launched the same day. At USD 6.09 million in assets, HOYY (NASDAQ:HOYY) is thinly capitalized even by the standards of this niche category. Unlike COYY, MTYY and TSYY, it has not yet required a reverse split, though those three sister funds show what can happen to a YieldBOOST product's per-share price over 12 or more months against a volatile underlying. Its 1.07 percent expense ratio matches every non-TSYY fund in the lineup, and its weekly distribution rides almost entirely on implied Volatility in Robinhood (NASDAQ:HOOD) options.

What Happens If Robinhood Stock Falls

HOYY's (NASDAQ:HOYY) prospectus risk language mirrors its sister funds closely: gains are capped if the underlying HOOD ETF rises above the strikes sold, and the fund is subject to all potential losses if the underlying declines, losses its income may not offset. A sharp Robinhood (NASDAQ:HOOD) drawdown, which the stock has shown it is capable of given its history of large moves tied to retail trading volumes and crypto activity, would flow through to HOYY's (NASDAQ:HOYY) net asset value largely unmitigated, even as the fund continues to advertise a triple-digit yield. Add non-diversified, single-issuer concentration and options-market liquidity risk, and HOYY (NASDAQ:HOYY) reads far closer to a leveraged short-volatility trade on one brokerage stock than to a diversified income holding measured against benchmarks like the Nasdaq-100.

Where Things Stand

Can HOYY's income keep up with Robinhood's swings? Only if Robinhood (NASDAQ:HOOD) stays roughly range-bound; if it does not, the fund's capped upside and full downside exposure mean the yield alone will not protect an investor's principal. HOYY (NASDAQ:HOYY) is barely a year old, still small at USD 6.09 million in assets, and has not yet faced the kind of sustained drawdown that forced reverse splits on COYY, MTYY and TSYY, but its underlying mechanics are identical to theirs. Treat the 257.91 percent figure as a snapshot of current options premium on a volatile brokerage stock, not as a durable income rate, and size any position accordingly.