GOLI — Defiance Gold Enhanced Options Income ETF ☆

Defiance Gold Enhanced Options Income ETF seeks monthly income from exposure to shares of GLD, a fund that follows the spot gold price using bars held in London vaults. At least weekly it sells at-the-money or slightly in-the-money put options, which caps upside, and it holds short-term US Treasurys as collateral. It does not hold gold bullion directly, and it bears all losses if GLD falls sharply.