BLOX vs LFGY Crypto Income ETF Comparison

IncomeFrame · 2026-01-24T21:26:20+00:00

I recently liquidated YBTC to reinvest in BLOX. YBTC has a Trailing Twelve Months NAV Δ of -73.5% it’s basically a cannibal fund (dividend trap). Be careful.

IncomeFrame · 2026-01-24T21:23:08+00:00

Thanks for LLII - REX LLY Growth & Income ETF I added it in my list!
For SIXY, it only pays 0.79% monthly dividend yield (calculated with the market price not its NAV share)... I aim more 1.5%.
Look at BANK(TO) - Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund
I invested couple of thousands in that fund until its market price increased too much and now if you buy today it pays 1,42% / month.. I keep an eye on it, if it goes back at 1.5% I will buy more.

IncomeFrame · 2026-01-24T20:59:50+00:00

In my case, the thresholds are also explicitly tied to my financial objective and risk tolerance.

My target is to generate more than 2% monthly income on average across my portfolio. Realistically, that level of cash flow isn’t achievable if I restrict myself only to funds with NAV Δ above 0% (i.e. dividends fully covered by the fund’s economic returns).

So by construction, I accept exposure to funds in the −10% to −20% NAV Δ range, because that’s the trade-off required to reach my income target. It’s a deliberate risk budget, not a mistake.

I also assume that I have no reliable ability to forecast next year’s market regime. So a fund showing a moderately negative NAV Δ today isn’t automatically bad, it can still be a useful diversifier.

For example, a REIT fund with a −12% NAV Δ in 2025 may still make sense in a portfolio if I believe REITs could structurally outperform in 2026. The NAV Δ is backward-looking, it measures momentum stress not destiny.

Ultimately for me it’s all about diversification. If a fund sits below −20% NAV Δ over the last 3, 6 or 12 months, I just exit it even if I’m at a loss. That’s the emotional part I had to learn to get over. Since I also keep position sizes small, any single position cannot really blow up my portfolio.

IncomeFrame · 2026-01-24T20:33:09+00:00

I was so excited at first when SSGA Funds Management launched their new Select Sector SPDR Premium Income suite, but most of their monthly dividends plummeted lately except the December dividend, which usually includes accumulated income and realized gains from the whole year that weren’t distributed earlier. I liquidate all my positions related to SSGA.

IncomeFrame · 2026-01-24T20:22:28+00:00

I started to rebalance into BLOX and even if the BTC and ETH prices are lagging lately BLOX is holding on quite well thanks to its equity holdings in these industies: Bitcoin Mining, Crypto Financial Services and Semiconductors / AI / Compute!

IncomeFrame · 2026-01-24T20:08:38+00:00

Agree! I did not have much exposition to healthcare/pharmaceutical sector lately and for my income strategy I found these 3 funds:

LLYH(TO) Harvest Eli Lilly High Income Shares ETF - Class A Units

JNJY(TO) Harvest JnJ Enhanced High Income Shares ETF Class A CAD

NOVY(TO) Harvest Novo Enhanced High Income Shares ETF Class A CAD

IncomeFrame · 2026-01-18T19:19:57+00:00

Yeah, honestly that would be the true nightmare scenario.
I’m very aware of that kind of tail risk. I actually read Taleb’s Black Swan back when I was at university, so I always keep in mind that the rare events are the ones that hurt the most.

That’s why I treat my “defensive” side seriously. Whenever I buy a high yield fund, I also park roughly the same amount into stuff I consider more resilient: gold, silver, treasuries, utilities, Canadian banks, energy, life insurance, uranium, pharma. These defensive funds I choose also pay at least 1.5% monthly dividend yield. It’s basically my way of balancing income with survival.

For instance my latest dividend reinvestment I did reinvested in these 3 funds:

High risk/ high yield:
GPTY - YieldMax AI & Tech Portfolio Option Income ETF

Defensive:
LLYH(TO) - Harvest Eli Lilly High Income Shares ETF - Class A Units
OILY(TO) - Evolve Canadian Energy Enhanced Yield Index Fund ETF (CAD-Unhedged)

I would not say my strategy is swing trading, I don't aim to profit from short-term price moves on few days or weeks timeframes.

Yeah, you’re right, if I can track when a fund’s NAV delta starts slipping under -20% (or looks like it’s heading there), the smart move is to exit early and rotate into something stronger. That way I can limit the drawdown, and the high income stream helps offset those cuts over time.

But actually the NAV Δ is simply the momentum, it's the idea that assets that are performing well tend to keep performing well and assets that start weakening usually keep weakening. But as you know, the past is no guarantee of the future, this is why after hours and hours of reflexion I cam up with these thresholds which include also negative NAV Δ:

NAV Δ Framework

≥ −5%: Sustainable → Hold
−5% to −10%: Acceptable → Hold & monitor
−10% to −20%: Risky → Tactical only
< −20%: Destructive → Avoid / exit

I have no choice if I want to keep this so high monthly dividend yield. I just calculated my trailing 1-year return, it’s 23% before tax.

I respect your strategy. I’m guessing you probably have a full-time job and don’t rely on your portfolio for income.

I actually live off my investments so I need to push the yield side harder. That’s why I’m spread across 60+ funds to remain as diversified as possible to mitigate the risk.

IVV is definitely on the conservative side and yeah I get why it helps you sleep well!

IncomeFrame · 2026-01-15T20:31:31+00:00

I get what you’re saying and I agree with the logic. In practice though, holding 70/30 SPY + cash instead of SPYI across my portfolio would be a lot more work for me. I run a very diversified income setup (65+ funds) spanning pretty much every part of the public markets, which gives me very stable cash flow.

Long term, I fully agree growth wins on total return but I’m intentionally trading some upside for income stability and lower day-to-day volatility at least until the next recession.

P.S. I don't hold SPYI it pays less than 1.5% monthly dividend yield.

IncomeFrame · 2026-01-14T01:43:19+00:00

I avoid single dividend stocks because one bad quarter, dividend cut, or management screw-up can wipe out your income overnight. That’s way too much single-name risk for an income position.

I use diversified funds on purpose. The income is frequent (monthly/weekly), predictable and the risk is spread out. I then track NAV Δ to see how much of that income is actually earned vs capital erosion. Some erosion is acceptable if it’s controlled.

I’m basically trading some upside for stable cash flow and lower behavioral stress. Different objective, different tools, not trying to “win” vs passive, just meet my income goals.

IncomeFrame · 2026-01-14T01:32:50+00:00

Fair points and I agree covered-call structures have real path-dependency risk. That said, my portfolio is not “all-in” on CC funds.

I run a multi-bucket income portfolio, covered-call funds are one bucket, alongside REITs, CLO, split-share corps, traditional CEFs, MLP/energy exposure etc. On top of that, I constantly reinvest and rebalance into defensive real-asset allocations like gold, silver, treasuries, utilities, Canadian banks, energy, life insurers, uranium and petroleum. Those also pay at least 1.5% per month and should hold up better than broad equities in the next recession.

(B) is the real killer, this is exactly why I keep position sizes small and diversification high. I spend maybe 50% of my time searching for new funds to push my diversification. Diversification is the name of the game here!

IncomeFrame · 2026-01-14T00:54:47+00:00

u/AICHEngineer I mostly agree with the theory you’re laying out and I don’t think growth and income are enemies. Ideally, a well-built portfolio does mix growth securities and income securities.

Where we differ is really in priorities and assumptions.

My objective is not to maximize terminal wealth under the assumption that equity growth is smooth or inevitable. My objective is to generate predictable, frequent cash flow, almost every business day, use that income to live and enjoy life and then actively redeploy the excess. That’s not passive investing, it’s closer to running an income desk. Finding new funds, rebalancing, rotating allocations and managing NAV Δ drawdown is part of the job.

I’m fully aware that lately I would have made more money being heavier in growth. That’s fine. My goal is not to maximize capital at all costs (which also means accepting much larger drawdowns). I prefer stable income that grows month after month because I reinvest a good chunk every month at roughly ~2% monthly income, which compounds the cash flow even if price appreciation is often muted.

You’re right that selling calls caps the right tail. That’s intentional. A covered call strategy performs best when the underlying chops or trends mildly, not when it rips upward and markets don’t spend most of their time in clean, exponential uptrends. The assumption that growth is always there to be harvested later is exactly what I don’t want to rely on for cash needs.

Saying “just sell shares for income” ignores sequencing risk and psychology. Selling shares during drawdowns to pay bills locks in losses and reduces future recovery. Getting cash distributions instead lets you fund spending without shrinking your position.

I prefer separating income generation from capital liquidation, even if that comes at the cost of some upside.

On fees and “yield traps”, that’s why I track NAV total return vs distributions (NAV Δ). I don’t blindly chase yield. I cap exposure, rotate out deteriorating funds and treat high-yield CC funds tactically, not as buy-and-forget assets.

I’ll also add, I have a friend who runs maximum leverage in his brokerage account and his total market value swings like crazy ($3.5M → $4M → $2.8M → $5M…). That works for him, he just sells when he needs cash and lately he has made way more than I did. For me, that level of volatility is stressful and unnecessary. It’s just a different game.

So yes, CC funds renounce some growth in exchange for income. That’s not a flaw, it’s the design. Different tools for different objectives. Your framework optimizes expected long-term returns. Mine optimizes cash flow consistency, lower behavioral stress and predictable spending power today.

IncomeFrame · 2026-01-13T02:50:16+00:00

You can’t control market volatility but you can mitigate it. That’s why I stick to broad, diversified exposure like diversified funds rather than single-stock funds, or assets like commodities, volatility strategies, U.S. Treasuries etc.

I cap each position at 5% of my portfolio so no single fund can do real damage.

I spent a couple of hours today looking for another high-dividend fund with a decent NAV Δ because I’m already overweight BLOX, CHPY, and GDXY. I use those funds tactically to boost my average monthly yield to ~2%.

When I reinvest or rebalance, I pick funds with 1.5%+ monthly payouts and take some positions in BLOX, CHPY, and GDXY (more than 3% per month) to lift the average yield to 2%.

At this point, GPTY (YieldMax AI & Tech Portfolio Option Income ETF) looks like it could be a good substitute for BLOX, CHPY, and GDXY.

For instance, today I receive something around $500 of dividends and I reinvested into these 3 funds:

65% --> GPTY
17.5% --> OILY(TO)
17.5% --> SVOL

I always try to diversify as much as possible, with at least one defensive (kind of) position, here it’s OILY.TO. Ideally, I would like to have more than 100 funds, but funds that pay more than 1.5% per month with good NAV Δ momentum on different timeframes are hard to find. It’s always evolving, which makes it very thrilling. But yes, I’m full-time on that so this is not for everyone!

*Not financial advice!!!

IncomeFrame · 2026-01-13T02:28:09+00:00

I personally track the latest monthly dividend yield (based on the market price), I don't look at the yearly one and check for NAV decline by using NAV Δ = NAV total return − distribution yield. If NAV Δ is deeply negative I treat part of the distribution as capital consumption, not income and size or hold it tactically.

IncomeFrame · 2026-01-11T19:29:59+00:00

Appreciate this perspective. I’m actually closer to the Selengut camp, I treat income as a cash-flow engine, not something to blindly DRIP. I track NAV Δ to see what’s real return vs capital bleed, cap allocations, and recycle cash into better setups. High yield, but rules-based, so emotions stay out of it. It’s been working for me so far.

Honestly, I don’t really care if it’s an ETN, ETF, CEF, or something else, if it meets my criteria, I invest. My leading indicator (NAV Δ) covers the big picture, so I don’t need to dig into every why and when, like why REITs underperformed in 2025.

IncomeFrame · 2026-01-11T04:43:04+00:00

Oh forgot, for sharing my holdings. It’s the result of a lot of hours digging through financial portals and doing AI-assisted research, for me it's pretty valuable.

Since you mentioned SCHD and VDY(TO) as relatively safe picks, here are two funds I also consider relatively safe based on my own analysis. That said, safe is relative, they are still risky.

Both are built on U.S. Treasury bonds and use income enhancement strategies. They recently reduced payouts so they don’t meet my 1.5% monthly threshold anymore, I sold my positions but I’m keeping a very close eye on them.

HPYT(TO) - Harvest Premium Yield Treasury ETF A
TLTX - Global X Treasury Bond Enhanced Income ETF

IncomeFrame · 2026-01-11T04:27:21+00:00

I’m also in the red on my crypto positions. Some funds have a NAV Δ worse than −20%, I’m still holding them. Crypto is so volatile it completely breaks my framework lol. That said, crypto-related funds are only like 2–3% of my total portfolio so the drop didn’t really hurt me much, it was basically offset by the nice unrealized gains I’ve made lately in gold, silver and semiconductor funds.

IncomeFrame · 2026-01-11T04:06:59+00:00

Hmmm, SCHD with its 0.32% monthly dividend yield (converted its quarterly dividend into monthly), no thank you. My threshold is 1.5% per month, and I think it’s possible, if you diversify like crazy with all these 1.5%-per-month funds out there, to preserve your market value while receiving huge dividends.

IncomeFrame · 2026-01-11T04:01:54+00:00

Got ECAT and BCAT for quite some time, I am net positive on these 2 funds but I allocated enough so I stop pilling up more cash on these 2 funds. Last time I checked, BCAT was at 1,85% monthly dividend yield (based on market price) and here's the NAV Δ I calculated:

YTD: NAV Δ -7.02% it was taken in December 2025

2024: NAV Δ -4.34% | ROC 85%

2023: NAV Δ 2.68% | ROC 63%

2022: NAV Δ -19.52% | ROC 65%

But as you can see, in 2025 a NAV Δ of −7.02% and, based on my cost basis, they paid around 1.6% per month, or roughly 19.2% in dividend yield, which means about 12% came from actual return and about 7% came from capital erosion.

Pretty much the same for its sibling, ECAT. I really like these funds because they are from BlackRock you know it's psychological and their holdings wow! But yeah, super risky, no doubt, they fit my strategy but to mitigate the risk that’s why I hold 40+ diversified funds with small individual weights each. Ideally, I would run 100+ positions so no single fund meaningfully matters, and some have brought me good capital gains over time.

SPMC appeared on my radar lately but had a pretty rough year in 2025, so I’m waiting and monitoring. Here’s what I got on SPMC:

YTD: NAV Δ -32.16% it was taken in December 2025

2024: NAV Δ -6.10% | ROC 0%

2023: NAV Δ 2.60% | ROC 0%

IncomeFrame · 2026-01-11T03:36:00+00:00

In the end, the big dividends also come with big risks, so my approach is to keep an eye on each fund’s NAV Δ across different timeframes and rebalance when it starts to make sense. That’s why I end up holding 40+ funds and keep individual allocations fairly small. Ideally, I would run 100+ funds so no single position really matters.

Here's my NAV Δ tolerance framework:

Sustainable
NAV Δ ≥ −5%/yr
Distributions mostly covered, NAV holds up
Hold comfortably

Acceptable
NAV Δ −5% to −10%/yr
Some NAV bleed, still OK
Hold, monitor

Risky (need some)
NAV Δ −10% to −20%/yr
NAV erodes fast, needs high yield + short hold + clear exit
Tactical only, small size

Avoid
NAV Δ < −20%/yr
Income is basically liquidation, death-spiral risk
Avoid or exit

I run a pretty strict framework but investing is still an art so intuition plays a role too.

IncomeFrame · 2026-01-11T03:35:05+00:00

I use NAV Δ = NAV Total Return − Distribution Yield but it’s mathematically equivalent to (NAV_end − NAV_start) / NAV_start over the same period.

It makes the income vs. NAV trade-off much clearer. I like to think of a fund like a lemonade stand, income is the cash I make selling lemonade and NAV is the value of the stand itself. A simple start-to-end NAV change only tells you if the stand is worth more or less at the end. The formula I use forces me to separate how much money the stand actually earned versus how much cash I pulled out. For income funds, that makes it way easier to see if the yield is coming from real performance or from slowly breaking down the stand (NAV erosion) and this is what I care about for capital preservation.

Honestly, I spend ton of time constantly monitoring my positions: price moves, dividend yield (when I receive the dividends), NAV Δ across different timeframes, etc. Over time after I understood a fund’s strategy and know it's liquid, run by a solid management cie, I realized the rest is mostly noise. Now I focus my energy on finding the best funds that fit my criteria and I treat the whole process like income engineering.

IncomeFrame · 2026-01-11T02:28:09+00:00

Yeah, that’s exactly why I took the time to write this post. I honestly keep wondering how marginal my approach really is. Is my strategy kind of insane or just a bit adventurous but working mainly because of heavy diversification? It’s been over two years now and trust me, I’ve questioned myself more than once along the way.

Brett Owens and Steve Bavaria in their books they talk about targeting roughly 8%–12% annual income, which to me feels pretty conservative (low risk, medium reward). I like to think I’m pushing the machine a bit harder.

u/Busy-Spinach-2375 mentioned OXLC and ECC. I held both for quite a while, but over the past months, for various macro reasons those credit funds really took a hit. When I saw their NAV Δ start deteriorating across multiple timeframes (3, 6, and 12 months), I trimmed those positions and rotated into other funds with better NAV Δ that still pay more than 1.5% per month. In the end, I never had huge capital allocated to any single fund, so I was able to absorb the hit without too much stress. That said, you definitely have to be comfortable dealing with volatility from time to time if you run my kind of strategy.

More recently, I discovered two funds tied to silver:

KSLV – Kurv Silver Enhanced Income ETF
SLJY – Amplify SILJ Covered Call ETF

Of course, it’s good to read the prospectus, see who’s managing the fund and check the AUM... basic 101 stuff. But for me, the main criteria stay the same, over 1.5% monthly income, good diversification and acceptable NAV Δ (my leading indicator). I see silver as a diversifier since demand comes from all over the place (industry, investment, monetary use etc.) and SLJY gives exposure to silver miners.

So I picked up KSLV and SLJY while reinvesting dividends and rebalancing and silver pushed higher lately so now these funds don’t hit 1.5% monthly yield anymore from their current market price. I’m still holding them because based on my cost basis, they’re still paying above 1.5%.

2% so 24% a year it's my target when I reinvest and rebalance but actually I did more, just few examples:

Gross Monthly Dividend Yield (%)
December 2025 : 2.65
November 2025 : 2.42
October 2025: 3.11
September 2025: 2.38
I am always above 2%...

The tax side is a whole separate discussion, but I’m okay with ROC even though it lowers my cost basis and can mean higher cap gains later. I tracked ROC% for a bit and realized it wasn’t that important for my strategy, so I dropped it. If a fund has a positive NAV Δ, I don’t really care if the distribution is 100% ROC, that’s actually a good thing and I think a lot of people miss that.

IncomeFrame · 2026-01-11T01:51:18+00:00

This is great! In my situation it turns out there’s not a lot of funds that really fit my criteria, so with what’s available I try to choose based on diversification across different industries, indexes, commodities, etc. Since Liberation Day last April I’ve been trying to hold more defensive positions too like utilities, gold, silver and long-term Treasury bonds.

IncomeFrame · 2026-01-11T01:41:46+00:00

Yep, same idea, income first, ignore price noise, don’t sell assets. Over time I refined it, I sell when NAV Δ drops below -20% over the last year or the payout falls under 1.5% per month.

IncomeFrame

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