YieldMax™ announced the launch today of the following ETF:
- YieldMax™ MSTR Option Income
Strategy ETF (NYSE Arca: MSTY)
MSTY seeks to generate monthly income via a
synthetic covered call strategy on MicroStrategy
Incorporated (MSTR). The ETF is actively managed by ZEGA
Financial. MSTY does not invest directly in
MSTR.
MSTY is the newest member of the growing
YieldMax™ ETF family and, like all YieldMax™ ETFs, aims to deliver
monthly income to investors. Please see table below for
distribution and yield information for all outstanding YieldMax™
ETFs.
ETF Ticker1 |
ETF Name |
Reference Asset |
Distribution
Rate2,4 |
30-Day SEC Yield3 |
TSLY |
YieldMax™ TSLA Option Income Strategy ETF |
TSLA |
53.51% |
5.15% |
OARK |
YieldMax™ Innovation Option Income Strategy ETF |
ARKK |
36.80% |
4.27% |
APLY |
YieldMax™ AAPL Option Income Strategy ETF |
AAPL |
11.43% |
4.09% |
NVDY |
YieldMax™ NVDA Option Income Strategy ETF |
NVDA |
75.07% |
3.63% |
AMZY |
YieldMax™ AMZN Option Income Strategy ETF |
AMZN |
36.87% |
4.03% |
FBY |
YieldMax™ META Option Income Strategy ETF |
META |
62.52% |
3.70% |
GOOY |
YieldMax™ GOOGL Option Income Strategy ETF |
GOOGL |
29.79% |
4.11% |
NFLY |
YieldMax™ NFLX Option Income Strategy ETF |
NFLX |
83.24% |
3.55% |
CONY |
YieldMax™ COIN Option Income Strategy ETF |
COIN |
60.63% |
4.74% |
MSFO |
YieldMax™ MSFT Option Income Strategy ETF |
MSFT |
37.15% |
3.76% |
DISO |
YieldMax™ DIS Option Income Strategy ETF |
DIS |
16.97% |
3.71% |
XOMO |
YieldMax™ XOM Option Income Strategy ETF |
XOM |
15.27% |
3.94% |
JPMO |
YieldMax™ JPM Option Income Strategy ETF |
JPM |
13.71% |
3.66% |
AMDY |
YieldMax™ AMD Option Income Strategy ETF |
AMD |
97.44% |
3.86% |
PYPY |
YieldMax™ PYPL Option Income Strategy ETF |
PYPL |
44.72% |
3.92% |
SQY |
YieldMax™ SQ Option Income Strategy ETF |
SQ |
22.64% |
4.35% |
MRNY |
YieldMax™ MRNA Option Income Strategy ETF |
MRNA |
39.31% |
3.78% |
AIYY |
YieldMax™ AI Option Income Strategy ETF |
AI |
29.95% |
4.01% |
YMAX |
YieldMax™ Universe Fund of Option Income ETFs |
Multiple |
31.94% |
- |
YMAG |
YieldMax™ Magnificent 7 Fund of Option Income ETFs |
Multiple |
26.10% |
- |
1 All YieldMax™ ETFs shown in the table above (except YMAX
and YMAG) have a gross expense ratio of 0.99%. YMAX and YMAG have a
Management Fee of 0.29% and Acquired Fund Fees and Expenses of
0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and
Expenses” are indirect fees and expenses that the Fund incurs from
investing in the shares of other investment companies, namely other
YieldMax™ ETFs.
2 The Distribution Rate shown is as of close on February 21,
2024. The Distribution Rate is the annual yield an investor would
receive if the most recently declared distribution, which
includes option income, remained the same going forward.
The Distribution Rate is calculated by multiplying such
distribution by twelve (12), and dividing the resulting amount by
the ETF’s most recent NAV. The Distribution Rate represents a
single distribution from the ETF and does not represent its total
return. Distributions may also include a combination of ordinary
dividends, capital gain, and return of investor capital, which may
decrease an ETF’s NAV and trading price over time. As a result, an
investor may suffer significant losses to their investment. These
Distribution Rates may be caused by unusually favorable market
conditions and may not be sustainable. Such conditions may not
continue to exist and there should be no expectation that this
performance may be repeated in the future.
3 The 30-Day SEC Yield represents net investment income,
which excludes option income, earned by such ETF
over the 30-Day period ended January 31, 2024, expressed as an
annual percentage rate based on such ETF’s share price at the end
of the 30-Day period.
4 Each ETF’s strategy will cap potential gains if its
reference asset’s shares increase in value, yet subjects an
investor to all potential losses if the reference asset’s shares
decrease in value. Such potential losses may not be offset by
income received by the ETF.
Standardized Performance
For TSLY, click here. For OARK, click here. For APLY, click
here. For NVDY, click here. For AMZY, click here. For FBY, click
here. For GOOY, click here. For NFLY, click here. For CONY, click
here. For MSFO, click here. For DISO, click here. For XOMO, click
here. For JPMO, click here. For AMDY, click here. For PYPY, click
here. For SQY, click here. For MRNY, click here. For AIYY, click
here. For YMAX, click here. For YMAG, click here.
Prospectus
Click here.
The performance data quoted above represents past performance.
Past performance does not guarantee future results. The investment
return and principal value of an investment will fluctuate so that
an investor’s shares, when sold or redeemed, may be worth more or
less than their original cost and current performance may be lower
or higher than the performance quoted above. Performance current to
the most recent month-end can be obtained by calling (833)
378-0717.
Tidal Financial Group is the adviser for all YieldMax™ ETFs and
ZEGA Financial is their sub-adviser.
About Tidal Financial Group
Formed by ETF industry pioneers and thought leaders, Tidal
Financial Group sets out to revolutionize the way ETFs have
historically been developed, launched, marketed and sold. With a
focus on growing AUM, Tidal offers a comprehensive suite of
services, proprietary tools, and methodologies designed to bring
lasting ideas to market. Tidal is an advocate for ETF innovation.
The firm is on a mission to provide issuers with the intelligence
and tools needed to efficiently and to effectively launch ETFs and
to optimize growth potential in a highly competitive space. For
more information, visit https://www.tidalfinancialgroup.com/.
About ZEGA Financial
Founded in 2011, ZEGA Financial is a SEC-registered investment
adviser and investment manager that specializes in derivatives. The
firm leverages technology, data, experience, and proprietary
strategies to craft products and services for advisors and
individual investors. ZEGA Financial helps investors successfully
navigate volatile and uncertain markets through innovative hedging
strategies. The firm’s founding principles grew out of the
bestselling book co-authored by Jay Pestrichelli, ZEGA’s CEO and
Co-Founder, entitled “Buy and Hedge, the Five Iron Rules for
Investing Over the Long Term.” His book highlights how to bridge
the complicated nature of options investing with the needs of the
everyday investor.
Risk Disclosures
Investing involves risk. Principal loss is possible.
MSTR Risk. The Fund invests in options contracts
that are based on the value of MSTR. This subjects the Fund to
certain of the same risks as if it owned shares of MSTR, even
though it does not. Call Writing Strategy Risk.
The path dependency (i.e., the continued use) of the Fund's call
writing strategy will impact the extent that the Fund participates
in the positive price returns of MSTR and, in turn, the Fund's
returns, both during the term of the sold call options and over
longer time periods. Counterparty Risk. The Fund
is subject to counterparty risk by virtue of its investments in
options contracts. Transactions in some types of derivatives,
including options, are required to be centrally cleared ("cleared
derivatives"). In a transaction involving cleared derivatives, the
Fund's counterparty is a clearing house rather than a bank or
broker. Since the Fund is not a member of clearing houses and only
members of a clearing house ("clearing members") can participate
directly in the clearing house, the Fund will hold cleared
derivatives through accounts at clearing members.
Derivatives Risk. Derivatives are financial
instruments that derive value from the underlying reference asset
or assets, such as stocks, bonds, or funds (including ETFs),
interest rates or indexes. The Fund’s investments in derivatives
may pose risks in addition to, and greater than, those associated
with directly investing in securities or other ordinary
investments, including risk related to the market, imperfect
correlation with underlying investments or the Fund’s other
portfolio holdings, higher price volatility, lack of availability,
counterparty risk, liquidity, valuation and legal restrictions.
Options Contracts. The use of options
contracts involves investment strategies and risks different from
those associated with ordinary portfolio securities transactions.
The prices of options are volatile and are influenced by, among
other things, actual and anticipated changes in the value of the
underlying instrument, including the anticipated volatility, which
are affected by fiscal and monetary policies and by national and
international political, changes in the actual or implied
volatility or the reference asset, the time remaining until the
expiration of the option contract and economic events.
Distribution Risk. As part of the Fund’s
investment objective, the Fund seeks to provide current monthly
income. There is no assurance that the Fund will make a
distribution in any given month. If the Fund does make
distributions, the amounts of such distributions will likely vary
greatly from one distribution to the next.
High Portfolio Turnover Risk. The Fund may
actively and frequently trade all or a significant portion of the
Fund’s holdings. Liquidity Risk. Some securities
held by the Fund, including options contracts, may be difficult to
sell or be illiquid, particularly during times of market turmoil.
Non-Diversification Risk. Because the Fund is
“non-diversified,” it may invest a greater percentage of its assets
in the securities of a single issuer or a smaller number of issuers
than if it was a diversified fund. New Fund Risk.
The Fund is a recently organized management investment company with
no operating history. As a result, prospective investors do not
have a track record or history on which to base their investment
decisions. Price Participation Risk. The Fund
employs an investment strategy that includes the sale of call
option contracts, which limits the degree to which the Fund will
participate in increases in value experienced by MSTR over the Call
Period. Single Issuer Risk. Issuer-specific
attributes may cause an investment in the Fund to be more volatile
than a traditional pooled investment which diversifies risk or the
market generally. The value of the Fund, which focuses on an
individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL,
NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR),
may be more volatile than a traditional pooled investment or the
market as a whole and may perform differently from the value of a
traditional pooled investment or the market as a whole.
Investors in the Fund(s) will not have rights to receive
dividends or other distributions with respect to the underlying
stock.
Holdings
As of February 21, 2024, the YieldMax™ MSTR Option Income
Strategy ETF did not hold any shares of MicroStrategy Incorporated
(MSTR). The holdings of MSTR in such fund were 0.00% as of such
date.
YieldMax™ ETFs are distributed by Foreside Fund Services, LLC.
Foreside is not affiliated with Tidal Financial Group, YieldMax™
ETFs or ZEGA Financial.
© 2024 YieldMax™ ETFs
Contact Gavin Filmore at gfilmore@tidalfg.com for more information.
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