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@dominiquetheeasyminimalist3 ай бұрын
You deserve 100k subscribers, your interviews are always so interesting. Thanks for not only asking direct questions, but also for being a good listener, picking up on details and being flexible in the way you conduct the interviews.
@armchairincomechannel3 ай бұрын
I really appreciate your feedback. Interviewing is harder than it looks but I'm working on improving with each one. Only 85k subs to go and that 100k is a done deal ;)
@JG-DivMan3 ай бұрын
Very thought-provoking, high value, interview. It certainly is going to propel me into a deep dive of Kurv and their family of funds. I've avoided the single-stock ETFs to this point, but could see myself toe-dipping into MSFY, GOOP, or AMZP. Thanks for the channel!
@armchairincomechannel3 ай бұрын
I have a similar view. I discounted single stock income funds but after talking to Howard, I'm open to them. However, the concentration risk is still there so I'd want to allocate accordingly.
@billhaskins383 ай бұрын
You do such an amazing job on your channel!! What a fantastic interview!!
@armchairincomechannel3 ай бұрын
Thanks for being one of the first to watch it!
@angel_killzit3 ай бұрын
Need that kurv basket etf
@armchairincomechannel3 ай бұрын
Agreed!
@TheGamingDividend3 ай бұрын
This was a very good interview. The Kurv CEO well articulated a lot of this and helped lay it out in a way that was easy to visualize. Thanks for this!
@armchairincomechannel3 ай бұрын
Glad you enjoyed it!
@Steverino703 ай бұрын
Really like this series of interviews. Keep up with the great work.
@armchairincomechannel3 ай бұрын
That's great to hear (I mean read). I'm glad you like it!
@BossPookie3 ай бұрын
Thank you for your professionalism and quality content.
@armchairincomechannel3 ай бұрын
Much appreciated! I'm glad you enjoyed it.
@primetimeperformanceАй бұрын
Kurv is the face of the business. Neos is the engine driving returns.
@armchairincomechannelАй бұрын
That's a decent metaphor!
@natemillsap72793 ай бұрын
Good interview. I think Kurv has a solid approach, but my largest concern is simply the financial and operational viability of the individual ETF's. They do not have significant AUM according to publicly available data. They did file for a Yield Premium Technology Select (fund-of-funds essentially per the SEC filing) that I think would be a great option for enhanced income with focused NAV considerations. That would be of greatest interest to me in terms of their offerings (potential in this case). Other recent filings were a Short Maturity ETF and a Tax Optimized Large Cap ETF. Like other firms, they have many more filings that have not yet come to market, but those 3 are the most recent public filings.
@armchairincomechannel3 ай бұрын
Nice detective work...yes, you described their pipeline. It's too early for me for the reasons you gave, however, I thought it was interesting to learn about their strategy.
@Ciborium3 ай бұрын
Based on his choice of words, I inferred that one of the ETFs was going to be a bond ETF, so the Short Maturity ETF will probably be something like that. I'm interested in what the final version of the Tax Optimized Large Cap ETF will turn out to be.
@hans53072 ай бұрын
Will be interesting to see what sort of distribution % the new funds will generate. Lower volatility will mean a lower payout but could be a good balance for the single stock positions.
@kenyaalure45243 ай бұрын
Great interview, and he's a great ceo/spokesman for the company.
@armchairincomechannel3 ай бұрын
He was great to interview. I hope they release more ETFs that I'm interested in because I'd like to interview him again.
@matthewdiionno5675Ай бұрын
This is hands down one of the best videos I’ve ever seen in the dividend space! Excellent questions and you earned a new subscriber here!!
@armchairincomechannelАй бұрын
Awesome, thank you! Glad it was helpful and thanks for taking the time to share your feedback.
@al55553 ай бұрын
Excellent interview as usual, thank you!
@armchairincomechannel3 ай бұрын
Thanks for your feedback. Glad you liked it :)
@Seoulsearch6163 ай бұрын
Excellent discussion regarding return of capital, thank you. 👍🏼
@armchairincomechannel3 ай бұрын
Glad you liked it!
@VllKlNG3 ай бұрын
Great interview questions and the detailed responses from KURV were excellent. My opinion of their funds after hearing how and why they make their decisions really improved from this interview. I'm currently still allocating the aggressive portion of my portfolio into Yieldmax funds, but Kurv looks to have some really solid retirement style funds. Look forward to seeing more from them.
@armchairincomechannel3 ай бұрын
Thanks for your feedback. There was more to KURV than I anticipated.
@SomeUserNameBlahBlah3 ай бұрын
VIIKING - Can you talk more about your YieldMax experience? It appears their strategy is to erode principle in the name of increasing shares. I'm interested in buying into either YMAX or AMDY (I think AMD has a great future) but I don't want my principle to disappear.
@VllKlNG3 ай бұрын
@@SomeUserNameBlahBlah Creative username. :) I own about 10 of the yieldmax funds including AMD & YMAX. From my experience only the funds with very volatile underlying stocks erode principle, because the covered call strategy can only capture some of the upside when their value goes up. The Defiance funds are the best example of this (QQQY, IWMY or yieldmax TSLY, CONY, etc). Defiance are the hardest hit with principle loss because they do daily calls (caps it daily), the yieldmax do weekly calls (caps it weekly), and Kurv, or standard CC funds generally have a smoother growth as they do monthly calls. You can also see that the distribution yields are highest on the daily, and lowest on the monthly. If you don't want your principle to disappear, then you have to pick an underlying stock that always goes up or stays the same... good luck! The income return on a perfect fund like this will be really low because there is no risk. Yieldmax or any CC ETF fund makes money with volatility. My suggestion is pick AMD or an stable underlying fund you believe in, and just let the returns come in. Even if your principle drops a bit because of a bad market or earnings, you'll still be ahead on total return (distributions + principle). For myself, right now my AMD is down 7% from my purchase price, but my total return is positive 3% with the distributions. I could sell tomorrow and still be ahead of what I invested. As AMD goes up which I believe it will, then my principle will return and in the meantime distributions keep coming in each month and increasing my total return %. (Not a financial advisor blahblah :))
@JakeFockstein-cn3hcАй бұрын
Great interview, very informative.
@armchairincomechannelАй бұрын
Much appreciated!
@likeicare3003 ай бұрын
Thank you sir. Kurv seems to be doing it right
@armchairincomechannel3 ай бұрын
Early days but they're off to a good start!
@jaypaladin-havesmartswilll55083 ай бұрын
This is a very good interview. I learned some things from Howard Chan with the help of a good interviewer with great questions. I took a hit from investing in TSLY and learned a hard lesson. I am interested in YMAX and may look into how to play Kurv ETFs but I am very reluctant to invest into a single stock hi-yield option ETF, again.
@armchairincomechannel3 ай бұрын
Important to understand the concentration risk of any single stock fund. Glad you found it an informative interview!
@alzaidi77393 ай бұрын
Hi Jay, See my other post here an YM vs Kurv, specifically for TSLY vs TSLP. Spoiler: about the same. I own several YM ETF's and they are doing well. NVDY, AMZY and FBY. Could be worse, you could have owned TSLA direct. :-/
@richardm6543 ай бұрын
I wouldn't be interested until a fund of funds. Too much can happen to an individual stock. That's why I own a bit of YMAX.
@armchairincomechannel3 ай бұрын
Important to appreciate the concentration risk; great point!
@vizfactАй бұрын
Fantastic upload.
@armchairincomechannelАй бұрын
Thank you! Cheers!
@piotrplewka3 ай бұрын
GR8 interview mate 👍👍👍
@armchairincomechannel3 ай бұрын
Thanks for the encouragement!
@happycampers65923 ай бұрын
Very informative. Will be watching closely.
@armchairincomechannel3 ай бұрын
Glad it was helpful!
@ShankShizank1Ай бұрын
Excellent upload. Buying shares.
@armchairincomechannelАй бұрын
Glad it was helpful :)
@DanielModel33 ай бұрын
Very informative and enjoyable to watch, thank you for sharing! Interesting to learn about the PIMCO connection, they are arguably the gold standard for bond investing.
@armchairincomechannel3 ай бұрын
Glad you enjoyed it. I'm a Pimco fan, and usually hold at least 1 of their funds.
@user-dw2iu8rz9s3 ай бұрын
Thanks! Great to hear from him. I feel like these are kind of in a block box so it is nice to understand how they work.
@armchairincomechannel3 ай бұрын
Glad you found it helpful!
@CoralGablesFL3 ай бұрын
Great channel & great interview!
@armchairincomechannel3 ай бұрын
Much appreciated!
@MrDude22373 ай бұрын
I appreciate the calm, but straight to the point/firm questions and discussion, but not browbeating and trying to get “gotcha”’s. Always such good interviews and I’m learning so much more about investing. I’ve always been skeptical of income ETF’s, but it seems that some have some actual safety! Not full-proof but somewhat of a foundation.
@armchairincomechannel3 ай бұрын
Thanks for your feedback and words of encouragement. Interviewing is harder than it looks but I enjoy it and want to continue to work on getting better at it. Income ETFs aren't for everybody but in some situations, regular cash flow has value, especially when the market is crashing!
@JackMoynihan163 ай бұрын
Thanks for another in depth interview. I would definitely consider buying a Kurv fund of funds.
@armchairincomechannel3 ай бұрын
It's early days but I'm open to the concept...
@momdittomomditto77053 ай бұрын
Another informative interview! You ask probing questions that help us understand the strategy. I’m not a single stock CC fund investor but I’m always happy to add to my knowledge. Thanks!
@armchairincomechannel3 ай бұрын
Thanks for your feedback. I have a similar approach. I prefer funds but it's still interesting to learn about funds like this.
@marcalvarado19153 ай бұрын
Great interview! Their strategy seems very well thought out with adequate consideration given to mitigating the weaknesses of covered call funds. The hints given at their future products sound great too, I am hoping for something like the Vanguard Wellesley Fund with a bit more juice from covered calls. Something with a focus on downside protection but with income would be great for retirement accounts.
@armchairincomechannel3 ай бұрын
Thanks for your feedback. The downside protection isn't popular yet, but I agree that there's a market for that.
@sbreslin413 ай бұрын
Great interview and I appreciate the education on new and interesting offerings!
@armchairincomechannel3 ай бұрын
Thanks! Glad you found it useful.
@sreekreddy733 ай бұрын
Thank you very much for one more brilliant video !
@KCInferno3 ай бұрын
Great interview Thanks. Might add some of these to my Armchair income.
@armchairincomechannel3 ай бұрын
Glad you enjoyed the interview :)
@Reza168883 ай бұрын
Thank you for this interview 🙏
@armchairincomechannel3 ай бұрын
Thanks for watching and taking the time to comment.
@janoz063 ай бұрын
Thanks for the excellent video
@armchairincomechannel3 ай бұрын
You're most welcome :)
@Michael-nq4ek3 ай бұрын
Great interview
@armchairincomechannel3 ай бұрын
Thanks! Glad you enjoyed it :)
@pendamoniumpaladin17982 ай бұрын
Great interview!
@armchairincomechannel2 ай бұрын
Glad you enjoyed it, thanks for letting me know :)
@Crockerfeller3 ай бұрын
I really appreciate the work you put into your channel's content! This is another awesome interview! Thank you!
@armchairincomechannel3 ай бұрын
Glad you enjoy it. Comments like this make it worth the effort that goes into making these videos :)
@SummitMan1653 ай бұрын
Excellent interview !! But man I had ads running during your clip… But totally worth it. I’ll have a closer look at Kurds funds when they’ll have a wrap up ETF !
@armchairincomechannel3 ай бұрын
I signed up for KZfaq Premium....no ads!! Also, you can download shows for plane trips etc. I'll be interested in the wrap ETF too.
@SummitMan1653 ай бұрын
@@armchairincomechannel Premium is on my wish list also … did it cut all the ads between, before, during and the end of the clips you watched? Meaning no ads AT ALL??
@Bullseye1203 ай бұрын
Great interview.....thank you so much.
@armchairincomechannel3 ай бұрын
Glad you enjoyed it!
@gabrielsyt3 ай бұрын
Thanks for another great interview. Something I am curious if you could add to these reviews is how NAV is preserved. You usually talk to it but if there is any way to show that performance it would be a help to me. When I get closer to retirement, I want to invest in some of these funds and a key goal will be to collect dividends but not lose the principal. If funds have a goal such as that and proof over time, I would be willing to invest. Or, if they can give guidance such as with this fund you can collect 10% dividends and reinvest anything over will ensure you preserve the capital. KURV appears to be a fund that is intentional at preserving NAV, so I appreciate that. Keep up the great work!
@armchairincomechannel3 ай бұрын
Thanks for your feedback. There are a lot of moving parts to NAV so its difficult to analyze. You can absolutely lose principal with (almost any fund, including) this fund because if the underlying stock falls in value, so does the fund. I'll take your suggestions into consideration going forward.
@eldestson21123 ай бұрын
Glad to see more attention paid to a balance of yield and price appreciation. As a retiree using funds for income some of the NAV erosion funds scare the crap out of me.
@armchairincomechannel3 ай бұрын
I agree. If there was NAV erosion I would not have wanted to do the interview!
@ryanccc7773 ай бұрын
Great content as always! I have generally stayed away from single stock ETFs but shall continue to research some of these considering their objective to keep income consistent.
@armchairincomechannel3 ай бұрын
Thanks for your feedback. There's no denying the concentration risk but when a basket fund comes along it will attract more investors.
@ryanccc7773 ай бұрын
@@armchairincomechannel I would like your thoughts on the fee. I know Howard mentioned the .99% is standard for something like this but JPM (fair enough has massive pricing power as Garrett mentioned in another video) has JEPI/JEPQ at .35% and even SPYI / QQQI are at .68%, .99% for KURV when you have a single stock ETF seems a bit high as he is not managing a basket of anything but I am learning more about this type of investment and appreciate the input.
@enricomonesi58563 ай бұрын
Studied every word......GREAT.......as ALWAYS !!!!!!
@armchairincomechannel3 ай бұрын
Thanks for being one of the first to watch it. You must have the notifications bell turned on :)
@DP520013 ай бұрын
Woohoo! Great to see you sir!
@armchairincomechannel3 ай бұрын
Thank you kindly :)
@elliotthall55433 ай бұрын
Great video. Very informative. Thank you.
@armchairincomechannel3 ай бұрын
Glad you enjoyed it!
@mac417763 ай бұрын
Impressive discussion with Howard, and it has solidified my decision to switch from the other guys. Your research linking the Simplified and NEOS guys is really impressive. I hold few funds from all three managers
@armchairincomechannel3 ай бұрын
Thanks for your feedback. I'm just happy that other people are interested in income investing too!
@joeschmoe17942 ай бұрын
Give me this kind of approach with a 3x ETF like TQQQ or SPXL and I’m all over it.
@armchairincomechannel2 ай бұрын
Interesting take. Thanks for your feedback!
@carloscuervo43613 ай бұрын
Hello, I love your content . I am in the process of selling my business and follow the same path as you. Now after watching this video I think there is a question that you never ask these types of funds that it us an important one. All this covered call etf use T-bills as colateral for the cover call strategy and they add part of the yield from the t-bills to the total return. I want to know when the fed starts cutting interest rates and the t-bill yields start dropping. How will that affect this funds yields. Anyway keep it up man and thanks for the info
@armchairincomechannel3 ай бұрын
It’s a good point. The answer is that yields will come down as inflation comes down. Net purchasing power won’t change much. In other words, the yield relative to inflation is more important than the absolute yield. For KURV specifically, if rates get low enough they will switch from T Bills and synthetic positions, to holding the underlying stock.
@johnpinard32122 ай бұрын
Great video. I’m adding these to my portfolio. Have several of the yieldmax as well, think they will work well together. I also own many of these underlying outright for long term holds.
@armchairincomechannel2 ай бұрын
Glad you found it helpful. I think Yieldmax fans should keep an eye on this one.
@rondawgon3 ай бұрын
another great video and interview, thank you for sharing and bringing important information to dividend investors. Also, reading the comments here by your viewers and your replies are very helpful.
@armchairincomechannel3 ай бұрын
Thanks for your feedback. Also...good to know somebody is reading comments other than their own :)
@pavXX3 ай бұрын
Thanks, these SSF covered call funds aren't in my area of interest but it's great to hear them out. Interesting they sort of partner with NEOS.
@armchairincomechannel3 ай бұрын
Glad it was helpful!
@1AceIAm13 ай бұрын
Interesting, Great video.
@armchairincomechannel3 ай бұрын
Glad you enjoyed it
@johnbeeck25403 ай бұрын
KURV seems to be a different version of NEOS... yet the trading is done by NEOS - so is KURV really a separate company or a marketing arm of NEOS
@armchairincomechannel3 ай бұрын
They both focus on option strategies but they're quite different. The KURV team has a background in fixed income and actively manages the treasuries...something we didn't get time to discuss. Also, NEOS is focused on index funds while KURV is focused on individual stock funds. They're 2 completely separate companies with separate teams on opposite sides of the country.
@jdedad3 ай бұрын
Good information ❤
@armchairincomechannel3 ай бұрын
Glad you liked it :)
@persieprince93453 ай бұрын
Great work with this very informative interview I would like to see a fund of fund or something like ymag from the guys of kurv
@armchairincomechannel3 ай бұрын
It might well be their most popular fund when it comes out.
@mikeconnell6983 ай бұрын
Thanks for the interesting idea! i'm thinking of finding a small place in my investments for one (maybe a couple) of these funds. I'd like to see them come out with a fund of funds too
@armchairincomechannel3 ай бұрын
I think the fund of funds will be a hit! Thanks for watching.
@techshark61813 ай бұрын
THANK YOU HOWARD , this was VERY informative, now if you could just allow fractional shares, we all could jump in faster😂
@armchairincomechannel3 ай бұрын
Glad you liked it. Fractional is becoming more popular each year!
@techshark61813 ай бұрын
@armchairincomechannel Also you of course for putting this together, thank you too
@kg34363 ай бұрын
Superb interview. I have enough exposure to Microsoft/Apple already, and Tesla/Netflix aren't as solid in my opinion.. but I might be interested in adding AMZP to my portfolio.
@armchairincomechannel3 ай бұрын
Thanks for your feedback. I feel like everybody on planet earth with more than $5 invested owns some Apple somewhere! It's early for me but I'll keep an eye on Kurv.
@exilion13 ай бұрын
Thank you kindly for this interview. I love the Kurv vest! Do they have a swag shop online?
@armchairincomechannel3 ай бұрын
LOL! I haven't seen a merch shop but you may have hit on an untapped revenue stream for them :)
@exilion13 ай бұрын
I’d prefer a share or more of their IPO, or a vest, size XL, for making the suggestion. I’m sure Shopify would be an excellent host?
@blackrain34663 ай бұрын
I lost a lot on NAV on 2 well known ETFs on 2021 and have been to afraid to come back into them since, yes the monthly dividend payments where good however the NAV after 6 months destroyed that and much more!
@armchairincomechannel3 ай бұрын
NAV erosion is an important factor to consider. After that loss I expect you'll be much more cautious about which ETFs you buy.
@blackrain34663 ай бұрын
@@armchairincomechannell Certainly am, you do great work on yt I appreciate all your content.
@hans53072 ай бұрын
Is KURV a long term viable ETF provider? Their AUM is quite low at this point. On their website they don't have AUDITED financials yet. I'd like to see that before I commit too much to this new player.
@armchairincomechannel2 ай бұрын
I agree that its quite new. I like what they've done so far, but I want to see more history and trading volume before I buy. I'm also more interested in the fund of funds (in the pipeline) than the individual stock ETFs.
@_Laughterlobby_3 ай бұрын
Wouldn’t you get huge nav decay If the underlying whiplashes. You sell a call at 105(buying shares at 100) $1 premium. it goes down to 90$ within expiry and then you write more calls at 95. Then it goes up to 105 before expiry exercising the calls you sold. Then you write more calls at 110 but you have less capital and write less contracts. Couldn’t a choppy sideways market like in the lost decade (where the s&p moved sideways for 10 years in the 80s) just kill the fund? You’d end up with less and less shares until the fund failed. the underlying being very choppy for long durations is the main downside I see with this fund
@armchairincomechannel3 ай бұрын
Yes, there is potential for NAV decay as discussed in the interview. It depends on the path of the recovery. Calls are written monthly and often sharp declines recover within a month. However, there are recovery paths that would be erosive. A sideways market would actually be good for a covered call fund, if it wasn't too volatile. It would produce income without erosion, while the underlying doesn't make a substantial move. Their back testing doesn't show the fund "failing", but only time will tell. It's too early for me to invest as I'd like to see more data history.
@hans53072 ай бұрын
The synthetic position is written quarterly so assuming you wrote an initial synthetic at 100 you have a call at 100 you could exercise at 105. The 100 put you sold could be very cheap to buy back. If the manager is on top of things they have lots of options. ( pun intended)
@rangajilla3 ай бұрын
Hi, does kurv ETFs generate K-1 tax document or 1099 brokerage? I think it was mentioned 1099 in the video, wanted to confirm. Can these funds be held in IRA? Was not able to find answer to this on kurv website. Thanks for the content.
@armchairincomechannel3 ай бұрын
Kurv does not issue K-1 forms. Those are generally for master limited partnerships, not ETFs. I can't give tax advice but Kurv's funds are ETFs so they're similar to the thousands of other ETFs.
@sigor20113 ай бұрын
Interesting but I'd be waiting for a combined ETF from them as subgke stock for me is too unsettling.
@armchairincomechannel3 ай бұрын
Yes, there's concentration risk for a single stock ETF.
@Prachka13 ай бұрын
No index ETF ? - or, all encompassing etf?
@armchairincomechannel3 ай бұрын
Not yet, it's new.
@bozvin3 ай бұрын
Whats the best ETF for a beginner. Nice work ❤🎉😊
@armchairincomechannel3 ай бұрын
Thanks! If you have a long time line...VOO. It's the S&P 500.
@bozvin3 ай бұрын
@@armchairincomechannel But VOO has low dividend ! . I wanna buy somting Around 13% dividend, I gave QQQi in my wach list
@unclelong2133 ай бұрын
should do a review on GPIQ and GPIX i heard both ETF are better than JEPQ and JEPI
@armchairincomechannel3 ай бұрын
Thanks for the suggestion. They're quite new so there isn't much data to review, but I'll take a look.
@unclelong2133 ай бұрын
@@armchairincomechannel thanks, what interested me about those ETF i'd like to see how much % are they holding and how much % are they using for calls. ie jepq 80% hold and 20% call.
@normansimonsen12033 ай бұрын
I've found myself wondering why funds like these don't use something with greater yield as underlying base. If it was SVOL instead of Treasuries, wouldn't that juice the yield at least another 10%. Its not as if they aren't in a Risky business to begin with.
@armchairincomechannel3 ай бұрын
It would boost the yield but the risk would go from high to higher. Some investors might like that.
@normansimonsen12032 ай бұрын
@@armchairincomechannel notes for when we become fund managers in our next life.
@tonynes35773 ай бұрын
It's all Rocket Science to me.
@armchairincomechannel3 ай бұрын
If you're not a rocket scientist then that makes this quite difficult...
@juliovilla52463 ай бұрын
No one can predict a black swan event. Imagine how many trillionares there would be.... I love kurv etf, but the expense % is too much
@gregwessels72053 ай бұрын
But that expense ratio is average - or maybe not. It gives me pause too.
@armchairincomechannel3 ай бұрын
0.99% is relatively high but that's what Yieldmax is charging and they're making a fortune. If larger players that don't need to make a profit for a while enter the scene, that number will drop.
@davidallen8806Ай бұрын
Kurv is too closely aligned with NEO gif my taste. Your guest’s history with underperforming PIMCO is a red flag as well.
@armchairincomechannelАй бұрын
I've invested in 2 NEOS ETFs and am happy with their service so the affiliation is more of a plus than a minus to me. However, the option strategy was created by Kurv and is different from the products offered by NEOS. The reason Kurv uses NEOS is because they can execute the trades at a lower price. As for PIMCO, I regard them as one of the most reputable fund managers in the US and hold several of their funds. I'm sure they have funds that "Underperform" but it would depend on how you define that and which benchmark you use. I wouldn't describe an employment history with Pimco as a "red flag".
@bradanderson10242 ай бұрын
I hope they don't make the funds to have a sinking NAV LIKE some of their competitors.
@armchairincomechannel2 ай бұрын
Me too! I'm keeping an eye on GOOP and so far the NAV is growing.