NVDY
YieldMax NVDA Option Income Strategy ETF
NVDY seeks to provide current income and capped gains on the Nvidia stock (NVDA) 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
1.6 B
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | Tidal |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | May 10, 2023 |
| Assets (mns) | $1,610 |
| 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 | 36.3 % |
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 24.3 % |
| UNITED STATES TREASURY BILL 11/06/2025 | 8.2 % |
| NVDA US 07/18/25 C120 | 8.1 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 7.0 % |
| NVDA US 07/18/25 C130 | 5.3 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 5.2 % |
| UNITED STATES TREASURY BILL 02/19/2026 | 5.2 % |
| CASH & OTHER | 2.1 % |
| NVIDIA C CLL OPT 06/25 150 | 0.1 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -33.8% | -45.8% | -17.7% | -- | -- | -- | -- | -11.8% |
| Dividend Yield | 28.8% | 63.4% | 76.5% | -- | -- | -- | -- | 61.9% |
| Total Returns | -5.0% | 17.6% | 58.8% | -- | -- | -- | -- | 50.1% | Ann. Volatility | 56.2% | 48.6% | 42.5% | -- | -- | -- | -- | 44.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.52 | 33% |
| MSCI EAFE | 0.31 | 2% |
| MSCI Emg Mkts | 0.07 | 0% |
Liquidity Measures
| Avg. volume (000) | 2,855 |
| ADV traded (mns) | $47 |
| Turnover | 2.9% |
| Avg. Bid/Ask (% of price) | 0.07% |
Technical Indicators
| Recent close | $16.45 |
| 30d moving avg. | $15.15 |
| Annualized volatility | 35.8% |
| Relative strength (RSI) | 60 |
| Short interest | 0.7% |
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 |
| NVDY (99 bp) Percentile rank | 60 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NVDY | 99.0 | 6.5 | 105.5 |
| Peer Avg. | 93.9 | 36.4 | 130.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .