YieldMax™ today announced monthly distributions on the following
YieldMax™ ETFs:
ETF Ticker1 |
ETF Name |
Distribution per Share |
Distribution Rate2 |
30-Day SEC Yield3 |
Ex-Date & Record Date |
Payment Date |
YMAX |
YieldMax™ Universe Fund of Option Income ETFs |
$ |
0.6516 |
38.78 |
% |
62.89 |
% |
7/17/2024 |
7/18/2024 |
YMAG |
YieldMax™ Magnificent 7 Fund of Option Income ETFs |
$ |
0.6365 |
35.78 |
% |
46.89 |
% |
7/17/2024 |
7/18/2024 |
ULTY |
YieldMax™ Ultra Option Income Strategy ETF |
$ |
0.9948 |
83.72 |
% |
0.00 |
% |
7/17/2024 |
7/18/2024 |
Distributions may also include a combination of ordinary
dividends, capital gain, and return of investor capital, which may
decrease an ETF’s NAV and trading price over time.
The performance data quoted above represents past
performance. Past performance does not guarantee future results.
The investment return and principal value of an investment will
fluctuate so that an investor’s shares, when sold or redeemed, may
be worth more or less than their original cost and current
performance may be lower or higher than the performance quoted
above. Performance current to the most recent month-end can be
obtained by calling (833)
378-0717.
Distributions are not guaranteed. The Distribution Rate and
30-Day SEC Yield are not indicative of future distributions, if
any, on the ETFs. In particular, future distributions on any ETF
may differ significantly from its Distribution Rate or 30-Day SEC
Yield. You are not guaranteed a distribution under the
ETFs. Distributions for the ETFs (if any) are variable and may vary
significantly from month to month and may be zero.
Accordingly, the Distribution Rate and 30-Day SEC Yield will change
over time, and such change may be significant.
1 YMAX and YMAG each have a
Management Fee of 0.29% and Acquired Fund Fees and Expenses of
0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and
Expenses” are indirect fees and expenses that the Fund incurs from
investing in the shares of other investment companies, namely other
YieldMax™ ETFs. ULTY has a gross expense ratio of
1.24%, but the investment adviser has agreed to a 0.10% fee waiver
through at least February 28, 2025.
2 The Distribution Rate shown is as of close on July 15, 2024.
The Distribution Rate is the annual distribution an investor would
receive if the most recent distribution, which includes
option income, remained the same going forward. The
Distribution Rate is calculated by multiplying an ETF’s
Distribution per Share by twelve (12), and dividing the resulting
amount by the ETF’s most recent NAV. The Distribution Rate
represents a single distribution from the ETF and does not
represent its total return. As a result, an investor may suffer
significant losses to their investment. These Distribution Rates
may be caused by unusually favorable market conditions and may not
be sustainable. Such conditions may not continue to exist and there
should be no expectation that this performance may be repeated in
the future.
3 The 30-Day SEC Yield represents net investment income,
which excludes option income, earned by such ETF
over the 30-Day period ended June 30, 2024, expressed as an annual
percentage rate based on such ETF’s share price at the end of the
30-Day period. As of such date, the ULTY
subsidized and unsubsidized 30-Day SEC Yields were 0.00% and 0.00%,
respectively. The subsidized yield reflects fee waivers in effect
while the unsubsidized yield does not adjust for any fee waivers in
effect.
Each Fund has a limited operating history and while each
Fund's objective is to provide current income, there is no
guarantee the Fund will make a distribution. Distributions are
likely to vary greatly in amount.
Standardized Performance
For YMAX, click here. For YMAG, click here. For ULTY, click
here.
Prospectuses
Click here.
Before investing you should carefully consider the
Fund’s investment objectives, risks, charges and expenses. This and
other information are in the prospectus. Please read the
prospectuses carefully before you invest.
There is no guarantee that that any Fund’s investment
strategy will be properly implemented, and an investor may lose
some or all of its investment in any such Fund.
Contact Gavin Filmore at gfilmore@tidalfg.com for more
information.
Tidal Financial Group is the adviser for all YieldMax™ ETFs and
ZEGA Financial is their sub-adviser.
THE FUND, TRUST, ADVISER, AND SUB-ADVISER ARE NOT AFFILIATED
WITH ANY UNDERLYING ISSUER.
Risk Information
Before investing you should carefully consider the
Fund’s investment objectives, risks, charges and expenses. This and
other information are in the prospectus. Please read the
prospectuses carefully before you invest.
Risk Disclosures (the following risks are applicable to
all YieldMax ETFs shown in the table above)
Investing involves risk. Principal loss is possible.
Underlying Security Risk. Each Underlying
YieldMax™ ETF invests in options contracts that are based on the
value of its Underlying Security. This subjects each Underlying
YieldMax™ ETF to certain of the same risks as if it owned shares of
its Underlying Security, even though it does not. As a result, each
Underlying YieldMax™ ETF is subject to the risks associated with
the industry of the corresponding Underlying Issuer.
Derivatives Risk. Derivatives are financial
instruments that derive value from the underlying reference asset
or assets, such as stocks, bonds, or funds (including ETFs),
interest rates or indexes. Each Underlying YieldMax™ ETF’s
investments in derivatives may pose risks in addition to, and
greater than, those associated with directly investing in
securities or other ordinary investments, including risk related to
the market, imperfect correlation with underlying investments or
Underlying YieldMax™ ETF’s other portfolio holdings, higher price
volatility, lack of availability, counterparty risk, liquidity,
valuation and legal restrictions. The Underlying YieldMax™ ETFs
investment strategies are options-based. The prices of options are
volatile and are influenced by, among other things, actual and
anticipated changes in the value of the underlying instrument,
including the anticipated volatility, which are affected by fiscal
and monetary policies and by national and international policies,
changes in the actual or implied volatility or the reference asset,
the time remaining until the expiration of the option contract and
economic events. Distribution Risk. Each
Underlying YieldMax™ ETF aims to provide monthly income, although
there's no guarantee of distribution in any given month, and the
distribution amounts may vary significantly. Monthly distributions
may consist of capital returns, reducing each Underlying YieldMax™
ETF's NAV and trading price over time, thus potentially leading to
significant losses for investors (including the Fund), especially
as an Underlying YieldMax™ ETF's returns exclude any dividends paid
by the Underlying Security, which may result in lesser income
compared to a direct investment in the Underlying Security.
NAV Erosion Risk Due to Distributions. When an
Underlying YieldMax™ ETF makes a distribution, its NAV typically
drops by the distribution amount on the related ex-dividend date.
The repetitive payment of distributions may significantly erode an
Underlying YieldMax™ ETF’s NAV and trading price over time,
potentially resulting in notable losses for investors (including
the Fund). Call Writing Strategy Risk. The
continuous application of each Underlying YieldMax™ ETF's call
writing strategy impacts its ability to participate in the positive
price returns of its Underlying Security, which in turn affects
each Underlying YieldMax™ ETF’s returns both during the term of the
sold call options and over longer time frames. An Underlying
YieldMax™ ETF's participation in its Underlying Security's positive
price returns and its own returns will depend not only on the
Underlying Security's price but also on the path the Underlying
Security's price takes over time, illustrating that certain price
trajectories of the Underlying Security could lead to suboptimal
outcomes for the Underlying YieldMax™ ETF. Single Issuer
Risk. Each Underlying YieldMax™ ETF, focusing on an
individual security (Underlying Security), may experience more
volatility compared to traditional pooled investments or the market
generally due to issuer-specific attributes. Its performance may
deviate from that of diversified investments or the overall market,
making it potentially more susceptible to the specific performance
and risks associated with the Underlying Security. High
Portfolio Turnover Risk. Each Underlying YieldMax™ ETF may
actively and frequently trade all or a significant portion of the
Underlying YieldMax™ ETF’s holdings. A high portfolio turnover rate
increases transaction costs, which may increase the Underlying
YieldMax™ ETF’s expenses. Counterparty Risk. Each
Underlying YieldMax™ ETF faces counterparty risk through its
investments in options contracts, held via clearing members due to
its non-membership in clearing houses, with the risk exacerbated if
a clearing member defaults or if limited clearing members are
willing to transact on its behalf. This risk is also magnified as
the Underlying YieldMax™ ETF primarily focuses on options contracts
on a single security, potentially leading to losses or hindrance in
implementing its investment strategy if adverse situations with
clearing members arise. Price Participation Risk.
Each Underlying YieldMax™ ETF employs a strategy of selling call
option contracts, limiting its participation in the value increase
of the Underlying Security during the call period. Should an
Underlying Security’s value increase beyond the sold call options'
strike price, the Underlying YieldMax™ ETF may not experience the
same extent of increase, potentially underperforming the Underlying
Security and experiencing a NAV decrease, especially given its full
exposure to any value decrease of the Underlying Security over the
call period. New Fund Risk. The Fund is a recently
organized management investment company with no operating history.
As a result, prospective investors do not have a track record or
history on which to base their investment decisions.
Non-Diversification Risk. Because the Fund is
“non-diversified,” it may invest a greater percentage of its assets
in the securities of a single issuer or a smaller number of issuers
than if it was a diversified fund. As a result, a decline in the
value of an investment in a single issuer or a smaller number of
issuers could cause the Fund’s overall value to decline to a
greater degree than if the Fund held a more diversified
portfolio.
YieldMax™ ETFs are distributed by Foreside Fund Services, LLC.
Foreside is not affiliated with Tidal Financial Group, YieldMax™
ETFs or ZEGA Financial.
© 2024 YieldMax™ ETFs
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