The fund hasn't done all that bad, however its outperformance of the index primarily relates to the leverage component of the fund. For this reason, it has managed to outperform both the TSX Index and the S&P 500 since its inception in 2021.
The difficulty with analyzing funds this young, particularly actively managed funds centered around covered calls, is I do like to see a bit of history in terms of benchmarking it to an index. Thus far, however, it has done quite well. The only thing that would concern me at this point is the leveraged portion of the fund. If we do experience a drawdown, it is highly likely this fund draws down more than the major indexes.
Good option for a solid income stream thus far in a bull market. However, during a bear market I would expect extensive volatility. I've attached a chart highlighting how much it underperformed the TSX Index during the market drawdown in 2022.
