REX GIF ETF: A Covered Call Income ETF Holding Nine Single-Stock Growth Names
The REX Growth & Income Universe ETF (GIF) is a covered call income ETF that holds nine single-stock Growth & Income ETFs in equal weight through a single ticker. It seeks weekly distributions from covered call premiums while maintaining equity exposure to some of the market’s most closely watched growth names.
Growth or income? The traditional answer: pick one. Growth portfolios sacrifice current cash flow for appreciation potential. Income allocations seek to generate yield but often cap upside. GIF is built on the idea that you don’t have to choose — at least not entirely.
But the strategy carries significant risks. An investor could lose the full principal value of their investment within a single day. This is not a passive, buy-and-hold vehicle.
How the GIF ETF Covered Call Strategy Works: Half Growth, Half Income
Most covered call ETFs write options on 100% of their holdings. That generates income but caps upside across the entire position.
REX’s Growth & Income ETFs take a different approach. Each fund splits its portfolio into two halves:
|
The Growth Half Stays fully exposed to the underlying stock through modestly enhanced long exposure (1.05x–1.50x) — no call overlay. This half seeks to capture more potential upside without a cap. |
The Income Half Writes short-term, out-of-the-money covered calls—meaning it sells call options on securities it already owns with strike prices set above current market levels— using exchange-traded options cleared through the Options Clearing Corporation. These are actual options contracts, not synthetic yield instruments. The premiums collected seek to provide weekly distributions. Upside on this half is capped at the strike price. |
This half-and-half structure is the core of GIF’s design. It’s an attempt to balance growth participation and income generation — though the balance comes with asymmetric risk: upside is partially capped, but the fund bears full downside losses.
What’s Inside the GIF ETF? All Nine Underlying Single-Stock ETFs
GIF holds equal weight across nine single-stock covered call ETFs. Here’s every fund in the lineup, organized by sector:
AI & Semiconductors
REX NVDA Growth & Income ETF (NVII) — Long exposure to NVIDIA (NVDA) with a covered call overlay seeking weekly income. NVIDIA sits at the center of the AI infrastructure buildout — GPUs, data center accelerators, and AI training hardware. As the dominant supplier of AI compute chips, NVIDIA’s stock has been one of the most volatile and closely watched names in the market.
Crypto-Linked Equities
REX COIN Growth & Income ETF (COII) — Long exposure to Coinbase (COIN) with a covered call overlay. Coinbase operates one of the largest regulated cryptocurrency exchanges in the United States, providing exposure to the crypto ecosystem through a publicly traded equity.
REX MSTR Growth & Income ETF (MSII) — Long exposure to MicroStrategy (MSTR) with a covered call overlay. MicroStrategy combines an enterprise analytics software business with one of the largest corporate Bitcoin holdings, making it a de facto leveraged bet on Bitcoin within a traditional equity wrapper.
Electric Vehicles & Energy
REX TSLA Growth & Income ETF (TSII) — Long exposure to Tesla (TSLA) with a covered call overlay. Tesla spans electric vehicles, energy storage, solar, and autonomous driving development. It remains one of the most actively traded and volatile large-cap stocks.
Enterprise Software & AI Infrastructure
REX PLTR Growth & Income ETF (PLTI) — Long exposure to Palantir (PLTR) with a covered call overlay. Palantir builds data analytics and artificial intelligence platforms for government agencies and commercial enterprises. Its revenue growth from government AI contracts has driven significant investor interest.
REX CRWV Growth & Income ETF (CWII) — Long exposure to CoreWeave (CRWV) with a covered call overlay. CoreWeave is a cloud computing provider focused on GPU-accelerated infrastructure for AI and machine learning workloads — positioning it as a pick-and-shovel play in the AI buildout alongside NVIDIA.
Fintech
REX HOOD Growth & Income ETF (HOII) — Long exposure to Robinhood (HOOD) with a covered call overlay. Robinhood operates a commission-free trading platform spanning equities, options, and cryptocurrency, and has expanded into retirement accounts and credit cards.
Healthcare
REX LLY Growth & Income ETF (LLII) — Long exposure to Eli Lilly (LLY) with a covered call overlay. Eli Lilly is one of the largest pharmaceutical companies globally, with a significant pipeline in GLP-1 receptor agonist therapies for diabetes and obesity — one of the fastest-growing drug categories in the market.
Retail
REX WMT Growth & Income ETF (WMTI) — Long exposure to Walmart (WMT) with a covered call overlay. Walmart is the world’s largest retailer, and its growing e-commerce platform and advertising business have shifted investor perception from pure brick-and-mortar to a tech-enabled retail giant.
GIF ETF vs. Buying Individual REX Growth & Income ETFs
An advisor could build the same exposure by buying all nine underlying ETFs individually. GIF’s value proposition is simplification and structure:
One trade, full lineup. Instead of managing nine positions, GIF provides equal-weight exposure to every REX Growth & Income ETF through a single ticker. The trade-off: you cannot customize individual fund weightings or exclude specific names within GIF.
Diversified premium sources. GIF’s income draws from covered call premiums across nine different stocks spanning AI, crypto, EVs, fintech, pharma, and retail. That’s nine different volatility profiles contributing to the income stream. In theory, this may reduce dependence on any single stock’s options market — though premiums may decline broadly during low-volatility periods.
Auto-expanding and auto-rebalancing. GIF rebalances to equal weight monthly and automatically adds new REX Growth & Income ETFs as they launch. The portfolio broadens over time without investor action. The downside: the fund’s composition may change without notice, and investors cannot opt out of newly added funds.
Layered cost structure. As a fund of funds, GIF bears the fees and expenses of the underlying ETFs in addition to its own management fee. Investors should evaluate total costs in context.
Portfolio Positioning: Where the GIF ETF May Fit
GIF is not suitable for all investors. It is designed for knowledgeable investors who understand single-stock concentration risk, the role of covered calls, and the potential for loss of principal. With that caveat, some potential use cases:
|
Use Case 1 Consolidated Growth & Income access. For advisors who want clients to have exposure across the full REX Growth & Income lineup without managing nine individual positions. The equal-weight, auto-rebalancing structure removes the operational burden — but also removes customization. |
Use Case 2 Weekly cash flow alongside equity exposure. GIF seeks to pay weekly distributions from covered call premiums. For investors who want income without moving entirely out of growth-oriented equities, GIF attempts to deliver both in a single vehicle. Distributions are not guaranteed, may vary, and may include return of capital that reduces NAV. |
Use Case 3 Multi-sector covered call diversification. Rather than concentrating covered call income in a single name or index, GIF draws from nine stocks across six sectors. This structural diversification of premium sources may appeal to advisors who want to avoid single-name income dependence. |
GIF ETF Risks: What Investors Should Know
This section matters more than everything above it. GIF carries significant risks that must be clearly understood:
An investor could lose a portion or all of their investment. As with any equity investment, losses — including significant losses — are possible. The underlying ETFs use modestly enhanced exposure (1.05x–1.50x), which may amplify both gains and losses.
Upside is partially capped, downside is fully exposed. The covered call overlay limits the Fund’s indirect participation in gains. But the Fund bears the full losses from declines.
Distributions are not guaranteed. Weekly payouts depend on stock volatility and market premiums. They may change from week to week. Distributions may include ordinary dividends, capital gains, and return of investor capital — which reduces NAV and the overall investment over time. A high distribution rate does not imply a positive total return.
Single-stock concentration. Each underlying ETF concentrates in a single stock. An adverse event affecting NVIDIA, Tesla, or any individual name can have a disproportionate impact on GIF’s overall performance.
Synthetic exposure. Investors do not own the underlying stocks. They do not have voting rights or receive stock dividends. The underlying exposure is achieved synthetically.
Fund of funds costs. GIF bears the fees of both its own management and the underlying ETFs.
Frequently Asked Questions About the GIF ETF
GIF is the REX Growth & Income Universe ETF — a fund of funds that holds all nine REX single-stock Growth & Income ETFs in equal weight. It seeks weekly distributions from covered call premiums across names like NVIDIA, Tesla, Palantir, Coinbase, and more.
GIF seeks to pay distributions weekly. However, distributions are not guaranteed, may vary from week to week, and may include return of capital.
Through its nine underlying ETFs, GIF provides exposure to NVIDIA (NVII), Tesla (TSII), Palantir (PLTI), Coinbase (COII), MicroStrategy (MSII), Robinhood (HOII), CoreWeave (CWII), Eli Lilly (LLII), and Walmart (WMTI).
Most covered call ETFs write options on 100% of their holdings, which caps upside entirely. Each of GIF’s underlying funds writes covered calls on only about half the portfolio. The other half maintains long exposure with no call overlay, seeking to preserve more growth potential.
Yes. GIF is designed to auto-expand — when REX launches new Growth & Income ETFs, they are added to the portfolio automatically. GIF also rebalances to equal weight monthly.
GIF’s expense ratio is 1.23% (As of 2/26/2026). As a fund of funds, GIF also indirectly bears the fees and expenses of the underlying ETFs.
Getting Started
For advisors interested in learning more, the fund’s prospectus and summary prospectus are available at rexshares.com/gif. Read them carefully.
Questions? Reach out to the REX Shares team at Info@REXfin.com or call 1-844-802-4004.
An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the REX Shares. To obtain a Fund’s prospectus and summary prospectus call 844-802-4004 or visit rexshares.com. Read prospectuses carefully before investing.
Investing in the Fund involves a high degree of risk. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. An investor could lose the full principal value of his/her investment within a single day.
Holdings are subject to change. For the Fund’s current holdings, please visit https://www.rexshares.com/gif/
Leverage Risk: The underlying ETFs target modestly enhanced exposure (1.05x–1.50x). Compounding effects may cause returns to diverge from underlying stock returns over time.
Limited Upside / Full Downside: The Fund’s indirect exposure to gains of the underlying securities, if any, will be limited by the covered call overlay. However, the Fund will bear any losses resulting from a decline in value.
Distribution Risk: Distributions are not guaranteed. Distributions may include ordinary dividends, capital gains, and return of investor capital, which may decrease a fund’s NAV and the overall investment over time. Weekly payouts depend on stock volatility and market premiums and may change week to week. A high distribution rate does not imply a positive total return. Past distributions are not indicative of future distributions.
Single-Stock Concentration Risk: Each underlying ETF concentrates its exposure in a single stock, which introduces significant company-specific risk.
Covered Call Options Risk. A covered call strategy involves writing (selling) covered call options in return for the receipt of premiums. The seller of the option gives up the opportunity to benefit from price increases in the underlying instrument above the exercise price of the options but continues to bear the risk of underlying instrument price declines. The premiums received from the options may not be sufficient to offset any losses sustained from underlying instrument price declines over time. As a result, the risks associated with writing covered call options may be similar to the risks associated with writing put options. Exchanges may suspend the trading of options during periods of abnormal market volatility. Suspension of trading may mean that an option seller is unable to sell options at a time that may be desirable or advantageous to do so.
Equity Securities Risk. Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Equity securities prices fluctuate for several reasons, including changes in investors’ perceptions of the financial condition of an issuer or the general condition of the relevant equity market, such as market volatility, or when political or economic events affecting an issuer occur. Common stock prices may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation, and legal restrictions.
Synthetic Exposure: Investors do not own the underlying stocks, nor do they have voting rights or receive stock dividends.
Fund of Funds Risk: The Fund’s investment performance depends on the investment performance of the underlying funds. The Fund indirectly bears the fees and expenses of the underlying funds in addition to its own fees and expenses.
The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking targeted daily leveraged investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if the underlying funds performance is flat, and it is possible that the Fund will lose money even if underlying funds performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day. The Fund, Trust, Adviser, and Sub-Adviser are not affiliated with the Fund’s underlying securities.
Funds distributed by Foreside Fund Services, LLC.
