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
1.9 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) | $1,870 |
| 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 | 33.0 % |
| UNITED STATES TREASURY BILL 07/09/2026 | 17.0 % |
| UNITED STATES TREASURY BILL 11/06/2025 | 14.5 % |
| UNITED STATES TREASURY BILL 02/19/2026 | 11.9 % |
| CASH & OTHER | 9.6 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 5.9 % |
| NVDA US 09/19/25 C165 | 4.7 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 4.4 % |
| NVDA US 09/19/25 C170 | 3.7 % |
| NVDA US 08/01/25 C185 | 0.1 % |
Asset Allocation
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 | -25.5% | -34.7% | -14.7% | -- | -- | -- | -- | -6.1% |
| Dividend Yield | 44.1% | 67.2% | 81.8% | -- | -- | -- | -- | 59.6% |
| Total Returns | 18.6% | 32.5% | 67.1% | -- | -- | -- | -- | 53.5% | Ann. Volatility | 48.3% | 43.6% | 42.1% | -- | -- | -- | -- | 45.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.50 | 33% |
| MSCI EAFE | 0.38 | 2% |
| MSCI Emg Mkts | 0.02 | 0% |
Liquidity Measures
| Avg. volume (000) | 4,167 |
| ADV traded (mns) | $71 |
| Turnover | 3.8% |
| Avg. Bid/Ask (% of price) | 0.06% |
Technical Indicators
| Recent close | $17.06 |
| 30d moving avg. | $16.27 |
| Annualized volatility | 34.6% |
| Relative strength (RSI) | 71 |
| Short interest | 4.7% |
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 | 59 |
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 | 6.2 | 105.2 |
| Peer Avg. | 94.4 | 32.9 | 127.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .