GraniteShares YieldBOOST SPY ETF (YSPY) is an exchange-traded fund that employs an options-based strategy to seek enhanced monthly income from the SPDR S&P 500 ETF Trust (SPY); it primarily writes short-dated call options on SPY to generate yield while providing capped exposure to SPY's price appreciation. The fund offers investors high-distribution yields through its YieldBOOST methodology, which involves selling out-of-the-money call options with weekly or monthly expirations, resulting in potential returns from option premiums alongside limited upside participation in the underlying S&P 500 index. YSPY operates within the leveraged and income ETF segment, targeting income-focused investors such as retirees and yield seekers who prioritize monthly payouts over full equity growth. GraniteShares, the issuer headquartered in New York and founded in 2015 as a specialist in single-stock and thematic ETFs, manages YSPY alongside products like leveraged Bitcoin and Ethereum ETFs. Recent developments include the fund's launch in mid-2025 amid surging demand for high-yield equity strategies, alongside GraniteShares' expansion into options-income innovations following regulatory approvals for broader ETF options trading.