Even in the depths of the GFC collapse after Lehman Brothers went bankrupt the -2X financials ETN (SKF by ProShares) I owned didn't have any problems. Of course shortly thereafter I was sort of forced to sell it since Bush & his cronies decided that they no longer believed in free markets anymore & banned short selling on the TBTF financials.
Yeah but only $229MM AUM? That doesn't instill a lot of confidence in me. At first glance at least. https://www.marketbeat.com/stocks/NASDAQ/FEPI/ That said, I'm sure you know better than I, I've never really looked at these things... but still... only $229MM? That sure sounds awful risky.
I haven't checked it in a few months but I used to see which of the Amplify call writing ETFs had the highest monthly dividend yields and I believe it was CONY, SQY & TSLY (COIN, SQ & TSLA). They were all like 5+% monthly dividends. I think at times CONY was like 10+% in a month. It seems the best environment for these ETFs to outperform the actual stock is in a mild downturn or a sideways market with volatility in tact.