AENP ETF: the AGF Enhanced U.S. Income Plus Fund, explained

Short answer: AENP is the ETF series of the AGF Enhanced U.S. Income Plus Fund, an alternative mutual fund that holds U.S. equities and actively writes both covered calls and puts for monthly income. It began trading on the TSX on June 23, 2026, with a Medium risk rating and a listed management fee of 0.85%.

AGF launched the underlying fund in February 2025 and added this ETF series in June 2026, so there is about a year of strategy history behind a brand-new ticker. The fund sits on AGF’s alternatives shelf, which matters: alternative mutual funds are allowed to use leverage through derivatives, and this one may. This page covers what AGF has disclosed and what it has not. It is not financial advice.

What AENP is

AENP at a glance

Attribute	Detail
Ticker	AENP
Issuer	AGF Investments
Structure	ETF series of an alternative mutual fund
Strategy	U.S. equities plus active put writing and covered call writing
Management fee	0.85% (listed; confirm against AGF’s fund facts)
Distributions	Monthly, fixed target set by the manager
Risk rating	Medium
Status	Trading on the TSX since June 23, 2026

The strategy has two income engines instead of the usual one. Most income ETFs write covered calls on stocks they own. AENP does that, and also writes puts, which means collecting a premium in exchange for agreeing to buy a stock if it falls to a set price. Both trades convert some future upside or downside into cash today.

The catches

• Put writing changes the shape of the risk. A written put behaves fine in flat and rising markets, then delivers the stock’s losses in a sharp decline. Combined with covered calls, the fund trades away part of the rally and keeps most of the drawdown, in exchange for monthly premium income.
• It may use leverage. As an alternative mutual fund, AENP can lever through derivatives. AGF describes the option overlay as dynamic, so the exposure is a moving target rather than a fixed rule.
• The distribution is set by the manager. A fixed monthly payout is a choice, not a result. If the option premiums do not cover it, part of the distribution can be return of capital.
• Costs are not final. The 0.85% management fee is the listed figure, but no MER has been published for the ETF series yet, and option-heavy funds often carry trading costs on top.
• Name confusion is easy. AGF also runs the AGF Enhanced U.S. Equity Income Fund, ticker AENU. Similar name, different fund. Check the ticker before you buy.

Frequently asked questions

When did AENP launch?

The ETF series began trading on the TSX on June 23, 2026. The underlying AGF Enhanced U.S. Income Plus Fund launched as a mutual fund on February 28, 2025.

How is AENP different from a regular covered call ETF?

It writes puts as well as covered calls, and as an alternative mutual fund it can use leverage. That gives the manager more levers for generating premium income, and it makes the risk profile harder to eyeball than a plain buy-and-write fund.

What does AENP yield?

AGF has not published a target yield percentage for the ETF series, and the fund is too new to have a trailing yield worth quoting. The distribution is a fixed monthly amount that AGF can change.

Bottom line

AENP is an income tool with more moving parts than most: U.S. stocks, two kinds of option writing, possible leverage, and a manager-set monthly payout. That combination can suit an investor who wants U.S. equity income and understands what they are giving up in upside. It is not a substitute for plain U.S. equity exposure. If you add it, Greenline will show you what it actually contributes next to the rest of your portfolio.