GDXY
YieldMax™ Gold Miners Option Income Strategy ETF
Investing in the fund involves a high degree of risk.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security GDX®, may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.
The Fund’s strategy will cap its potential gains if GDX® shares increase in value. The Fund’s strategy is subject to all potential losses if GDX® shares decrease in value, which may not be offset by income received by the Fund. The Fund may not be suitable for all investors.
Shareholders of the Fund are not entitled to any dividends paid by GDX®.
Distribution Rate*:
30-Day SEC Yield**:
The performance data quoted 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. Performance current to the most recent month-end can be obtained by calling (866) 864-3968.
*The Distribution Rate is the annual rate an investor would receive if the most recently declared 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. The 30-Day SEC Yield represents net investment income,which excludes option income, earned by such ETF over the 30-Day period ended at the most recent month-end, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period. 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. The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These distribution rates caused by unusually favorable market conditions 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. Additional fund risks can be found below.
Distribution Details
For YieldMax™ ETFs Distribution Schedules, click here.
*The Distribution Rate is the annual rate an investor would receive if the most recently declared 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. The 30-Day SEC Yield represents net investment income,which excludes option income, earned by such ETF over the 30-Day period ended at the most recent month-end, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period. 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. The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These distribution rates caused by unusually favorable market conditions 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. Additional fund risks can be found below.
The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.
YieldMax™ ETF distributions may contain return of capital, but an estimate cannot be provided at this time. Please refer to the 19a-1 notices at here for additional details regarding the distributions’ composition, once available.
Fund Overview
The YieldMax™ Gold Miners Option Income Strategy ETF (GDXY) is an actively managed fund that seeks to generate monthly income by selling/writing call options on GDX®. GDXY pursues a strategy that aims to harvest compelling yields, while retaining capped participation in the price gains of GDX®.
Investment Objective
The Fund’s primary investment objective is to seek current income. The Fund’s secondary investment objective is to seek exposure to the share price of the VanEck® Gold Miners ETF (“GDX®”), subject to a limit on potential investment gains.
Fund Information
*The 30-Day SEC Yield represents net investment income earned by the Fund over the 30-day period ended on the date indicated above, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-day period. The unsubsidized 30-Day SEC Yield does not reflect any fee waivers/reimbursements/limits in effect.
Fund Data & Pricing
**Median 30-Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10-second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Performance
The performance data quoted 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. Performance current to the most recent month-end can be obtained by calling (866) 864-3968.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded. The fund intends to pay out dividends and interest income, if any, monthly. There is no guarantee these distributions will be made.
Holdings
Top 10 Holdings
Purchase Information
Buy GDXY
The YieldMax™ Gold Miners Option Income Strategy ETF (GDXY) is available through various channels including via phone (866) 864-3968, broker-dealers, investment advisers, and other financial services firms, including:
This Fund is not affiliated with these financial service firms.
Their listing should not be viewed as a recommendation or endorsement.
Risk Information
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. Please read the prospectuses carefully before you invest.
Investments involve risk. Principal loss is possible. Shareholders of the Fund are not entitled to dividends paid out by GDX®.
THE FUND, TRUST, ADVISER, AND SUB-ADVISER ARE NOT AFFILIATED WITH THE VANECK® ETF TRUST, THE VANECK® GOLD MINERS ETF (GDX®) OR THE VAN ECK ASSOCIATES CORPORATION.
As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund.
Some or all of these risks may adversely affect the Fund’s net asset value (“NAV”) per share, trading price, yield, total return, and/or ability to meet its objective.
Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns.
GDX® Risk. The Fund invests in options contracts that are based on the value of an ETF, specifically GDX®. This subjects the Fund to certain of the same risks as if it owned shares of GDX®, as well as the types of instruments in which GDX® invests, even though it does not. The value of GDX® will fluctuate over time based on fluctuations in the values of the securities held by GDX®, which may be affected by changes in general economic conditions, expectations for future growth and profits, interest rates and the supply and demand for those securities. Brokerage, tax and other expenses may negatively impact the performance of GDX® and, in turn, the value of the Fund’s shares. Since GDX® is an ETF, it is also subject to the same structural risks as the Fund, which is an ETF. Investors in the Fund will not have rights to receive dividends or other distributions or any other rights with respect to the underlying stock but will be subject to declines in the performance of the underlying stock
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. The Fund’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 the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Currency Risk. The Fund is exposed to currency risk indirectly due to GDX®’s investments. GDX®’s net asset value is determined on the basis of the U.S. dollar, therefore, GDX® may lose value if the local currency of a foreign market depreciates against the U.S. dollar, even if the local currency value of GDX®’s holdings goes up.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. 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 political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by GDX® over the Call Period. This means that if GDX® experiences an increase in value above the strike price of the sold call options during a Call Period, the Fund will likely not experience that increase to the same extent and may significantly underperform GDX® over the Call Period. Additionally, because the Fund is limited in the degree to which it will participate in increases in value experienced by GDX® over each Call Period, but has full exposure to any decreases in value experienced by GDX® over the Call Period, the NAV of the Fund may decrease over any given time period.
Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current monthly income. There is no assurance that the Fund will make a distribution in any given month. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.
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.