NFLP — Kurv Yield Premium Strategy Netflix (NFLX) ETF

NFLP Fund Overview

NFLP — Kurv Yield Premium Strategy Netflix (NFLX) ETF is a US ETF managed by NEOS ETF Trust, categorised as United States Large Cap Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: NEOS ETF Trust
• Category: United States Large Cap Equity
• Assets under management: $1.25M
• 1-year return: 45.7%
• Ticker: NFLP
• SEC CIK: 0001848758
• SEC series ID: S000081633
• Share class ID: C000244560

NFLP Investment Objective and Strategy

Kurv Yield Premium Strategy Netflix (NFLX) ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by NEOS ETF Trust.

Investment objective

The Kurv Yield Premium Strategy Netflix (NFLX) ETF (the Fund) seeks to provide current income.

Principal investment strategy

The Fund is an actively managed exchange traded fund that seeks current income while maintaining the opportunity for exposure to the share price (i.e., the price returns) of the common stock of Netflix Inc. (NFLX); however t he strategy limits potential investment gains related to share price appreciation. The Fund seeks to employ its investment strategy as it relates to NFLX in all market, economic, or other conditions. The Fund uses a synthetic covered call strategy to provide (1) income derived from options premiums and (2) exposure to the share price returns of NFLX, subject to a limit on potential share price returns on NFLX as a result of the nature of the options strategy it employs. To replicate the returns of the underlying stock, the sub-adviser to the Fund, NEOS Investment Management, LLC (the Sub-Adviser) will purchase at the money call options and sell put options with the same expiration date and the same strike price that may range from 1-12 months from expiry.

The Fund from time to time may also invest directly in shares of NFLX. In implementing the strategy, the Sub-Adviser actively manages the direct and synthetic long position of the Fund, deciding among other things the pricing and expiry of the call and put options used. The combined exposure to NFLX shares created by synthetic long positions achieved through options and any direct investment in shares will not exceed 100% of the net assets of the fund. In addition, the Sub-Adviser makes active decisions for the Fund regarding how to gain long exposure via long stock positions or synthetic long positions or a combination of both. Options contracts must be exercised or traded to close within a specified time frame before the options contract expires. The Fund may hold cash and cash equivalents and/or the underlying stock from time to time when there are disruptions in the options markets making it difficult or impractical to employ a covered call strategy to synthetically track the underlying stock.

In such situations, the Fund may better track the performance of the underlying stock by holding it directly until disruptions in the options markets cease. In addition to achieving a long position in NFLX stock, either synthetically or through purchasing shares, the fund will hold positions in NFLX options contracts as described below. For more information, see sections The Funds Use of NFLX Option Contracts and Synthetic Covered Call Strategy below. An investment in the Fund is not an investment in NFLX. The strategy employed to construct the Funds portfolio is designed to generate income; however the Fund may not fully participate in gains in NFLXs stock price. The use of options in the Funds strategy will limit any share price gains in NLFX but the Fund remains subject to all potential share price losses in NFLX which may not be offset by income the Fund receives.

The performance of the Funds shares may exceed, substantially track or trail the performance of NFLX because the options transactions that the Fund enters may outperform or underperform the underlying stocks performance. The Funds investment adviser is Kurv Investment Management LLC (Kurv or the Adviser). NFLX Option Contracts As part of the Funds synthetic covered call strategy, the Fund purchases and sells a combination of standardized exchange-traded and/or FLexible EXchange (FLEX) call and put option contracts that are based on the value of the price returns of NFLX. The Fund will purchase call options and sell put options generally with 1-month to 12-month terms. Standardized exchange-traded options include standardized terms. FLEX options are also exchange-traded, but they allow for customizable terms (e.g., the strike price can be negotiated).

For more information on FLEX options, see Additional Information about the Fund Exchange Traded Options Portfolio. All options contracts used by the Fund are based on the value of NFLX, which gives the Fund the right or obligation to receive or deliver shares of NFLX on the expiration date of the applicable option contract in exchange for the stated strike price, depending on whether the option contract is a call option or a put option, and whether the Fund purchases or sells the option contract. The Adviser may actively manage the written and purchased call options prior to expiration to potentially capture gains and minimize losses for the Fund due to the movement of NFLX. Synthetic Covered Call Strategy In seeking to achieve its investment objective, the Fund implements a synthetic covered call strategy using either stock and/or the standardized exchange-traded and/or FLEX options described above.

The Funds synthetic covered call strategy consists of the following three elements, which are described in more detail below: ? Cash and/or Synthetic long exposure to NFLX, which allows the Fund to seek to participate in the changes, up or down, in the price of NFLXs stock. ? Covered call writing (where NFLX call options are sold against the cash and/or synthetic long portion of the strategy), which allows the Fund to generate income. ? Short-dated fixed income instruments , which are used for collateral for the options, and which also generate income. Cash and/or Synthetic Long Exposure The Fund may gain long exposure via purchasing NFLX shares or creating a synthetic long position. To achieve a synthetic long exposure to NFLX, the Fund buys NFLX call options and, simultaneously, sells NFLX put options to try to replicate the price movements of NFLX.

The combination of the long call options and sold put options seek to provide the Fund with investment exposure equal to approximately 100% of NFLX for the duration of the applicable options exposure. The call options the Fund buys and the put options it sells will be at the same strike price in the same amount and have the same expiration. Covered Call Writing As part of its strategy, the Fund writes (sells) call option contracts on NFLX to generate income. If the fund gains long exposure synthetically, since the Fund does not directly own NFLX, these written call options will be sold short (i.e., selling a position it does not currently own). It is important to note that the sale of the NFLX call option contracts will limit the Funds participation in the appreciation in NFLXs stock price.

If the stock price of NFLX increases, the above-referenced synthetic and/or holding the underlying stock directly would allow the Fund to experience similar percentage gains. However, if NFLXs stock price appreciates beyond the strike price of one or more of the sold (short) call option contracts, the Fund will lose money on those short call positions, and the losses will, in turn, limit the upside return of the Funds synthetic and long stock exposure. As a result, the Funds overall strategy (i.e., the combination of the synthetic and/or long stock exposure to NFLX and the sold (short) NFLX call positions) will limit the Funds participation in gains in the NFLX stock price beyond a certain point. When the Fund engages in covered call writing with respect to NFLX, it receives cash from the buyer of the call option who in exchange for that cash obtains the right to purchase NFLX on or before the expiration date at a predetermined price called the strike price.

Writing covered call options is also considered long short. The notional principal amount of written call options will not exceed the principal amount of the synthetic or long stock position in NFLX. Short-dated Fixed Income Instruments The Fund holds cash and short-term fixed income securities as collateral in connection with the Funds synthetic covered call strategy. The Fund earns interest income on these holdings, which will be driven by interest rates at the time of investment. Short-term fixed income securities may be debt instruments issued by the U.S. government (e.g., Treasury, T-bills and TIPS), U.S. agency debt, commercial paper, short-dated U.S. corporate debt, floating-rate notes, money market funds and short-term U.S. fixed income ETFs. Any instrument held by the Fund will be rated investment grade or of comparable quality.

Funds Monthly Distributions The Fund seeks to provide monthly income in the form of distributions to shareholders. The Fund seeks to generate such income which consists of two primary components, as follows: ? Premium from writing (selling) call option contracts on NFLX as described above. This income made on the Funds options transactions will depend on the volatility of NFLX and thus its price return. NFLX stock, although other factors, including interest rates, will also impact the level of income. ? Interest from investing in short-term fixed income securities. This income will be driven by interest rates at the time of investment. To the extent the Fund holds shares of NFLX directly, income may also be generated from dividend distributions. Funds Return Profile vs NFLX For the reasons stated above, the Funds performance will differ from that of NFLXs stock price.

The performance differences will depend on, among other things, the price of NFLX, changes in the price of the NFLX options contracts the Fund has purchased and sold, the extent to which NFLX owns shares directly and changes in the value of the fixed income securities in the portfolio. Below is a chart plot showing the expected return profile of a share of the Fund as compared to the underlying stock: The above payoff graph illustrates the option positions total profit or loss (y-axis) depending on the price of the underlying stock (x-axis). The strike price of an option is the price at which a put or call option can be exercised. Breakeven point is the stock purchase price minus the premium received from call option sale. The maximum profit potential of a covered call is achieved if the stock price is at or above the strike price of the call at expiration.

Maximum profit is equal to the premium received from the call option sale plus the difference between the strike price and the stock purchase price. Profit potential is capped and remains constant when the stock price is greater than the strike price. Below the strike price, the line slopes downward as the payoff falls in proportion with the stock price. If the underlying stock price is below the breakeven price at expiration, the covered call strategy will result in a loss. The loss will be equal to the ending stock price minus the stock purchase price plus the call option premium received. The graph is included to illustrate a covered call strategy. Because the fund may sell call options with a variety of expiration dates and strikes, the actual profile of that strategy may vary from that depicted in the charts.

For example, the income earned from the sale of options can vary relative to a comparative stock position where calls have not been sold and the reduced upside potential could begin at a higher, or lower stock position level than depicted above. Fund Portfolio The Funds principal holdings are described below: The Kurv Yield Premium Strategy Netflix (NFLX) ETF Portfolio Holdings (All options are based on the value of NFLX) Investment Terms Expected Target Maturity Purchased call option contracts at-the-money (i.e., the strike price is equal to the then-current share price of NFLX at the time of purchase) to provide exposure to positive price returns of NFLX. If the stock of NFLX increases, these options will generate corresponding increases to the Fund. 1-month to one-year expiration dates Sold put option contracts at-the-money (i.e., the strike price is equal to the then-current share price of NFLX at the time of sale).

They are sold to help pay for the purchased call options described above. However, the sold put option contracts provide exposure to the full extent of any share price losses experienced by NFLX.

NFLP Holdings

Top 4 holdings of Kurv Yield Premium Strategy Netflix (NFLX) ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all NFLP holdings

NFLP Portfolio Allocation

Asset-class allocation of Kurv Yield Premium Strategy Netflix (NFLX) ETF by percentage of net assets, from the latest SEC N-PORT filing.

NFLP Performance

Total returns for NFLP (as of 2026-10-01), from SEC filings.

NFLP Risk Information

Risk metrics for NFLP, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 19.4%

NFLP Costs and Fees

NFLP costs about $100 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.00%
• Gross expense ratio: 1.16%
• Portfolio turnover: 0%
• Brokerage commissions: 7.18 bps of average net assets (SEC N-CEN)

NFLP Cashflows

Over the 12 months to 2024-08, Kurv Yield Premium Strategy Netflix (NFLX) ETF had net inflows of $1.12M, from monthly SEC N-PORT filings.

NFLP Debt Constituents

Largest debt holdings of Kurv Yield Premium Strategy Netflix (NFLX) ETF by percentage of net assets, from the latest SEC N-PORT filing.

NFLP Prospectus and SEC Filings

Official Kurv Yield Premium Strategy Netflix (NFLX) ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2024-09-27
• Prospectus (485BPOS) — filed 2023-10-18
• Portfolio holdings (N-PORT) — filed 2024-10-23
• Portfolio holdings (N-PORT) — filed 2024-07-22
• Portfolio holdings (N-PORT) — filed 2024-04-25
• Annual census (N-CEN) — filed 2024-08-12

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Other United States Large Cap Equity funds tracked on ABC INVEST:

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• SPDR Dow Jones Industrial Average ETF Trust (DIA)
• Equity Index Account (QCEQRX)
• Voya VACS Index Series S Portfolio (VVIPX)
• Roundhill AVGO WeeklyPay ETF (AVGW)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.