Understanding the GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY)

What this ETF is trying to do

The GraniteShares YieldBOOST 20Y+ Treasuries ETF (ticker: FIYY) is an exchange-traded fund designed to provide exposure to long-term Treasury bonds. This specific ETF uses an option income strategy, which means it uses financial tools called options to help boost the amount of cash it pays out to investors.

What the numbers show

As of October 5, 2026, the current price of one share of FIYY is $23.61.

Because this fund does not have a verified price history available in the current data, we cannot provide specific percentage returns for the year-to-date, one-year, or three-year periods. Additionally, because there is no recorded history of share splits, we cannot compare the current price to an estimated price from one year ago.

Income and distribution explanation

Investors often look at this type of ETF for regular cash payments. Here is what the data shows regarding distributions:

• Distribution Yield: The yield is approximately 1.64%. It is important to remember that the distribution yield describes the cash paid out relative to the share price; it is not the same as the total return.

• Trailing Distributions: The amount paid out over the last year was approximately $0.39 per share.

• Frequency: The fund usually pays out monthly. In the last 12 months, there were 22 distributions. Most of these payments (20 out of 22) occurred on a Friday.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value, which is the actual value of the assets held by the fund.

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion. Currently, there is no "severe erosion-risk flag" for this ETF. However, the erosion score is withheld because there is insufficient verified price history to provide a specific measurement.

Pros

• Regular Cash Flow: The fund has a history of frequent distributions (22 times in the last year), which may appeal to those seeking regular income.

• Option Strategy: It uses an option income strategy to potentially enhance yields.

Cons

• Limited Performance Data: Due to insufficient verified price history, it is difficult to see how the share price has performed over long periods.

• Income Rating: The fund has an income rating grade of "C" with a score of 61.

Beginner takeaway

FIYY is an ETF that uses options to try and provide regular cash payments, mostly on Fridays. While it has provided frequent distributions recently, the lack of long-term price history makes it difficult to see how the share price moves over time. Always remember that a distribution yield tells you about cash payments, but it does not tell you the total amount an investment has grown or shrunk.