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
1.4 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) | $1,374 |
| 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 BILL 07/09/2026 | 25.2 % |
| UNITED STATES TREASURY BILL 11/06/2025 | 20.5 % |
| UNITED STATES TREASURY BILL 02/19/2026 | 17.5 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 16.2 % |
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 11.1 % |
| UNITED STATES TREASURY BILL 08/06/2026 | 8.8 % |
| COIN US 10/17/25 C320 | 6.4 % |
| COIN US 09/19/25 C320 | 2.2 % |
| CASH & OTHER | 1.8 % |
| COIN US 08/22/25 C362.5 | 0.1 % |
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -33.2% | -52.8% | -- | -- | -- | -- | -- | -34.2% |
| Dividend Yield | 52.0% | 81.4% | -- | -- | -- | -- | -- | 98.8% |
| Total Returns | 18.8% | 28.6% | -- | -- | -- | -- | -- | 64.7% | Ann. Volatility | 58.8% | 65.9% | -- | -- | -- | -- | -- | 59.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 3.66 | 44% |
| MSCI EAFE | 1.93 | 14% |
| MSCI Emg Mkts | 1.21 | 3% |
Liquidity Measures
| Avg. volume (000) | 15,028 |
| ADV traded (mns) | $110 |
| Turnover | 8.0% |
| Avg. Bid/Ask (% of price) | 0.12% |
Technical Indicators
| Recent close | $7.35 |
| 30d moving avg. | $8.37 |
| Annualized volatility | 64.8% |
| Relative strength (RSI) | 46 |
| Short interest | 13.7% |
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 | 59 |
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 | 11.7 | 110.7 |
| Peer Avg. | 96.3 | 31.8 | 128.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .