drawdown risk outweighs YTD return
MRNY has produced a strong YTD total return (59.17%) this year but remains nearly 90% below its launch share price, so I would avoid allocating a large portion of an income portfolio to this single-stock covered-call ETF due to concentration risk.
Despite a 59% YTD total return, MRNY trades nearly 90% below its launch price, exposing income-portfolio investors to severe capital erosion. Concentration in a single-stock covered-call ETF magnifies downside risk that the elevated income yield does not adequately offset.
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