Kensington Hedged Premium Income ETF (KHPI)
BATS BATS Primary 
KHPI: The Crash-Capped Income Strategy The Covered Call Crowd Is Missing
Kensington Hedged Premium Income ETF (KHPI) offers a unique structural edge via a full protective put layer, capping drawdowns beyond ~6%. KHPI's aggressive covered call strategy ensures steady income in flat or consolidating markets, though it underperforms peers in strong rallies. Yield is high single digits, with distributions primarily labeled as return of capital, offering tax deferral benefits but not inherently free income.
KHPI: New Buy-Write ETF With A Good Start But High Fees
Kensington Hedged Premium Income ETF offers a 9% yield from a buy-write strategy targeting income with a downside hedge. The fund combines S&P 500 exposure, monthly call selling, and quarterly put spreads to balance income, protection, and upside potential. KHPI has outperformed peers in risk-adjusted return, but carries the highest expense ratio.
KHPI: Equity Premium, Hedged Downside, High Yield
KHPI offers a unique strategy combining equity exposure, downside hedges, and high income, making it a compelling option for moderate income investors. Despite underperforming reference assets, KHPI's ability to hedge against market downturns and deliver consistent income justifies a buy rating. The fund's small size, young age, and high fees are concerns, but its potential for high yield and downside protection make it worth considering.
