MRNY
YieldMax MRNA Option Income Strategy ETF
MRNY is an actively managed fund that seeks to generate monthly income by selling/writing call options on MRNA.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
73.4 M
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | Elevate Shares |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Oct 23, 2023 |
| Assets (mns) | $74 |
| Expense ratio | 99 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 33.9 % |
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 33.8 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 20.7 % |
| UNITED STATES TREASURY BILL 06/12/2025 | 20.1 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 17.7 % |
| CASH & OTHER | 11.2 % |
| UNITED STATES TREASURY BILL 05/15/2025 | 4.1 % |
| MRNA US 05/16/25 C35 | 0.9 % |
| MRNA US 04/25/25 C28.5 | 0.2 % |
| MODERNA CLL OPT 04/25 28 | 0.2 % |
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 | -50.0% | -87.4% | -- | -- | -- | -- | -- | -73.7% |
| Dividend Yield | 13.1% | 10.3% | -- | -- | -- | -- | -- | 16.9% |
| Total Returns | -36.9% | -77.1% | -- | -- | -- | -- | -- | -56.8% | Ann. Volatility | 67.4% | 55.6% | -- | -- | -- | -- | -- | 51.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.21 | 0% |
| MSCI EAFE | 0.62 | 3% |
| MSCI Emg Mkts | 0.90 | 4% |
Liquidity Measures
| Avg. volume (000) | 1,213 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.31% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $2.53 |
| 30d moving avg. | $2.72 |
| Annualized volatility | 44.0% |
| Relative strength (RSI) | 43 |
| Short interest (ETF) | 1.5% |
| Short interest (underlying) | 0.0% |
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 |
| MRNY (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) |
|
|---|---|---|---|
| MRNY | 99.0 | 31.4 | 130.4 |
| Peer Avg. | 90.6 | 32.1 | 122.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .