Bottom line: SMCY is a single-stock options-income ETF that seeks high weekly distributions by writing calls against synthetic exposure to Super Micro Computer (SMCI). Elevated single-stock volatility can support substantial premium income in sideways or moderately rising markets.
It is not a pure SMCI investment or a diversified holding. Upside is capped by the sold calls, downside remains fully exposed to SMCI’s price action, and NAV can decline when high distributions include return of capital or when the stock trends strongly. Concentration risk is extreme.
Position size should reflect the high idiosyncratic risk of a single volatile technology stock rather than the headline yield. Review the prospectus, distribution character, and SMCI’s outlook carefully. This is not investment advice.
Monthly Distributions for SMCY
| Month | Distributions | No. of shares | Net Distribution / share |
|---|---|---|---|
| September 2026 | $65.85 | 706 | $0.0933 |
| August 2026 | $113.35 | 1,412 | $0.0803 |
| July 2026 | $118.02 | 1,765 | $0.0669 |
| June 2026 | $136.58 | 1,412 | $0.0967 |
| May 2026 | $180.72 | 1,654 | $0.1093 |
| April 2026 | $111.84 | 1,411 | $0.0793 |
| March 2026 | $147.56 | 1,412 | $0.1045 |
| February 2026 | $155.51 | 1,412 | $0.1101 |
| January 2026 | $152.54 | 1,682 | $0.0907 |
| December 2025 | $239.52 | 1,765 | $0.1357 |
| November 2025 | $211.77 | 959 | $0.2208 |
| October 2025 | $124.94 | 352 | $0.3549 |
| Grand Total: | $2,170.99 | 16,270 | $0.1334 |
ETF Investment Summary
| Investment | Shares | Distributions | Purchase price / share | Real price / share | Market price / share |
|---|---|---|---|---|---|
| $3,009.14 | 353 | $2,248.92 | $14.90 | $8.52 | $5.06 |
Notes:
• Investment = Current Adjusted Cost Basis (after accounting for sells and distributions)
• Purchase price / share = Historical average price of all shares ever bought
• Real price / share = Current adjusted cost basis per remaining share (after distributions reduce basis)
• Market price / share = Latest market price of the ETF
Personal Chart – Real Price vs Real Price + Cumulative Distributions
Blue line = Real Price per share (cost basis after buys, sells & distributions)
Red line = Real Price + Cumulative Net Distributions received so far
Purple line = Cumulative Realised Capital Gains from sales
Green bars = Number of shares held at month-end
When the green bars drop to zero, the blue/red lines also go to zero (full exit of the position).