SMCY
YieldMax SMCI Option Income Strategy ETF
YieldMax SMCI Option Income Strategy ETF is an actively managed fund that seeks to generate monthly income by selling/writing call options on shares of Super Micro Computer Inc. (SMCI) while retaining capped participation in the price gains of SMCI.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
132.5 M
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | YieldMax |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Sep 11, 2024 |
| Assets (mns) | $132 |
| Expense ratio | 99 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| UNITED STATES TREASURY BILL 08/14/2025 | 23.7 % |
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 22.7 % |
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 15.4 % |
| SMCI US 05/16/25 C30.5 | 13.2 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 11.5 % |
| CASH & OTHER | 11.5 % |
| UNITED STATES TREASURY BILL 06/12/2025 | 5.1 % |
| UNITED STATES TREASURY BILL 05/15/2025 | 4.2 % |
| SMCI US 05/09/25 C38.5 | 0.5 % |
| SMCI US 05/09/25 C39.5 | 0.5 % |
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 | -31.2% | -- | -- | -- | -- | -- | -- | -65.0% |
| Dividend Yield | 24.1% | -- | -- | -- | -- | -- | -- | 27.1% |
| Total Returns | -7.1% | -- | -- | -- | -- | -- | -- | -37.8% | Ann. Volatility | 86.4% | -- | -- | -- | -- | -- | -- | 96.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 508 |
| ADV traded (mns) | $9 |
| Turnover | 6.5% |
| Avg. Bid/Ask (% of price) | 0.40% |
Technical Indicators
| Recent close | $16.82 |
| 30d moving avg. | $19.36 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 45 |
| Short interest | 1.9% |
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 |
| SMCY (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) |
|
|---|---|---|---|
| SMCY | 99.0 | 40.1 | 139.1 |
| Peer Avg. | 90.6 | 32.1 | 122.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .