The Covered Call ETF Gap | Zed Francis and Devin Anderson

About this episode

Devin Anderson and Zed Francis discuss the complexities of derivative investing and the misconceptions surrounding covered call ETFs and options-based income strategies.

Most investors think they understand what they own — Devin Anderson and Zed Francis of Convexitas are here to prove they don't, and to show what the next generation of derivative investing actually looks like. Pierre Daillie and Mike Philbrick welcome Devin Anderson and Zed Francis, Co-Founders of Convexitas, for a masterclass in derivative investing that challenges everything advisors and investors think they know about covered calls, buffered ETFs, and options-based income strategies. Drawing on deep institutional backgrounds — Devin from two decades at Deutsche Bank's equity derivatives structuring desk, and Zed from UBS credit trading, distressed hedge funds, and Legal & General — the two founders lay bare the hidden complexity lurking inside "simple" yield products that dominate today's wealth management landscape. The conversation pulls no punches: the hockey-stick diagrams used to explain covered call ETFs at point-of-sale actively mask real-time risk exposures that can shift dramatically intraday. A product sold as "half the risk of equities" can quietly become nearly full equity exposure within hours of a 1% market move — and most advisors and clients have no idea. Devin…

People in this episode

Hosts: Pierre Daillie, Mike Philbrick

Guests: Devin Anderson, Zed Francis

Topics covered

• derivative investing
• covered calls
• buffered ETFs
• options-based income strategies
• risk exposure
• active management

Keywords

• derivatives
• covered calls
• ETFs
• risk management
• yield products
• investment strategies

Mentioned in this episode

Organizations: Convexitas, Deutsche Bank, UBS, Legal & General

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