GraniteShares has introduced a new YieldBOOST™ ETF that tracks Hims & Hers Health, Inc. (HIMS). Ticker HMYY, the fund sells put options on a leveraged 2x daily HIMS ETF to generate income. The product joins GraniteShares’ YieldBOOST family, which already includes a similar offering for Riot Platforms (RTYY).
The strategy relies on option writing rather than direct equity exposure. By selling put options on a leveraged ETF that tracks HIMS, the fund seeks to capture premium income while maintaining a position that benefits from upside in the underlying HIMS price. Because the fund does not hold HIMS shares directly, investors gain indirect exposure to the telehealth company’s performance without owning its stock.
Hims & Hers Health has delivered strong growth in recent quarters. In the third quarter of 2025, the company reported revenue of $600 million, up 49% year‑over‑year, and adjusted EBITDA of $78 million, a 50% increase from the same period a year earlier. Management projected full‑year 2025 revenue between $2.335 billion and $2.355 billion, with adjusted EBITDA of $307 million to $317 million. Gross margin for Q4 2024 was 77%, down from 83% in Q4 2023, as the company faced headwinds from price reductions on GLP‑1 treatments. Andrew Dudum, co‑founder and CEO, said the platform is poised to scale into new specialties and serve millions of individuals, underscoring the company’s confidence in its growth trajectory.
GraniteShares’ YieldBOOST suite has grown to more than $649.5 million in assets under management as of late November, while the firm’s overall AUM exceeds $11.1 billion. The launch of HMYY adds a new product that could attract investors seeking income from option strategies while gaining exposure to a high‑growth telehealth company. The addition broadens the firm’s product lineup and may help diversify its client base.
The introduction of HMYY could increase demand for Hims & Hers shares by providing a new vehicle for investors to gain exposure to the company’s performance. The fund’s option‑writing structure also introduces a different risk profile, as leveraged ETFs amplify price movements and option premiums can be sensitive to volatility. Investors should consider the potential impact on liquidity and market sentiment for HIMS, as the ETF’s activity may influence trading dynamics for the underlying stock.
Overall, the launch of the YieldBOOST HIMS ETF represents a significant expansion of GraniteShares’ product offerings and offers investors a novel way to participate in the growth of a leading telehealth provider. While the strategy offers income potential, it also carries the risks inherent in leveraged ETFs and option writing, and investors should evaluate how the fund’s performance aligns with their risk tolerance and investment objectives.
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