YieldMax has been producing synthetic covered call strategies tailored for individual stocks for quite some time. You’ve seen them. Now, it’s launched a fund of funds ETF that provides exposure to these multiple ETFs in a single wrapper.
The new YieldMax Universe Fund of Option Income ETFs (NYSE Arca: YMAX) invests in YieldMax ETFs that rely on a synthetic covered call strategy. The underlying YieldMax ETFs held by YMAX are equally weighted and their weights are reallocated on a monthly basis. The portfolio will also include new underlying YieldMax ETFs once they’ve begun operations and have made an initial distribution.
See more: “YieldMax Launches Option Income Strategy ETF on C3.ai“
YMAX seeks to deliver investors monthly income by investing in the underlying ETFs that employ a synthetic covered call strategy. This strategy seeks to generate income from option premiums and provide indirect exposure to a specific security’s share price returns.
Each ETF’s strategy will cap potential gains if its reference asset’s shares increase in value yet subjects an investor to all potential losses if the reference asset’s shares decrease in value.
The Underlying ETFs
Below are the Underlying YieldMax ETFs currently held by YMAX.
| ETF Ticker |
ETF Name | Reference Asset |
| TSLY | YieldMax TSLA Option Income Strategy ETF | TSLA |
| OARK | YieldMax Innovation Option Income Strategy ETF | ARKK |
| APLY | YieldMax AAPL Option Income Strategy ETF | AAPL |
| NVDY | YieldMax NVDA Option Income Strategy ETF | NVDA |
| AMZY | YieldMax AMZN Option Income Strategy ETF | AMZN |
| FBY | YieldMax META Option Income Strategy ETF | META |
| GOOY | YieldMax GOOGL Option Income Strategy ETF | GOOGL |
| NFLY | YieldMax NFLX Option Income Strategy ETF | NFLX |
| CONY | YieldMax COIN Option Income Strategy ETF | COIN |
| MSFO | YieldMax MSFT Option Income Strategy ETF | MSFT |
| DISO | YieldMax DIS Option Income Strategy ETF | DIS |
| XOMO | YieldMax XOM Option Income Strategy ETF | XOM |
| JPMO | YieldMax JPM Option Income Strategy ETF | JPM |
| AMDY | YieldMax AMD Option Income Strategy ETF | AMD |
| PYPY | YieldMax PYPL Option Income Strategy ETF | PYPL |
| SQY | YieldMax SQ Option Income Strategy ETF | SQ |
| MRNY | YieldMax MRNA Option Income Strategy ETF | MRNA |
| AIYY | YieldMax AI Option Income Strategy ETF | AI |
All underlying YieldMax ETFs have a gross expense ratio of 0.99%.
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