CONY
YieldMax COIN Option Income Strategy ETF
CONY seeks to provide current income and capped gains on the Coinbase Global Inc. stock (COIN) through a synthetic covered call strategy, collateralized by cash and US Treasurys. The actively managed fund uses both standardized exchange-traded and FLEX options.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
1.2 B
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | Tidal |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Aug 15, 2023 |
| Assets (mns) | $1,198 |
| Expense ratio | 99 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 34.2 % |
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 28.0 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 15.7 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 8.7 % |
| COIN US 06/20/25 C200 | 8.2 % |
| UNITED STATES TREASURY BILL 06/12/2025 | 6.7 % |
| UNITED STATES TREASURY BILL 05/15/2025 | 4.5 % |
| CASH & OTHER | 3.3 % |
| COINBASE CLL OPT 05/25 232.500 | 0.1 % |
| COINBASE CLL OPT 05/25 237.500 | 0.1 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -37.7% | -64.1% | -- | -- | -- | -- | -- | -40.6% |
| Dividend Yield | 18.8% | 55.9% | -- | -- | -- | -- | -- | 82.2% |
| Total Returns | -19.0% | -8.2% | -- | -- | -- | -- | -- | 41.7% | Ann. Volatility | 64.3% | 66.2% | -- | -- | -- | -- | -- | 61.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 4.27 | 52% |
| MSCI EAFE | 1.84 | 11% |
| MSCI Emg Mkts | 1.51 | 4% |
Liquidity Measures
| Avg. volume (000) | 5,520 |
| ADV traded (mns) | $49 |
| Turnover | 4.1% |
| Avg. Bid/Ask (% of price) | 0.12% |
Technical Indicators
| Recent close | $8.88 |
| 30d moving avg. | $7.62 |
| Annualized volatility | 68.9% |
| Relative strength (RSI) | 54 |
| Short interest | 6.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| CONY (99 bp) Percentile rank | 67 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CONY | 99.0 | 12.1 | 111.1 |
| Peer Avg. | 90.5 | 32.3 | 122.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .