YieldMax Target 12 Semiconductor Option Income ETF
SOXY is an actively managed ETF that seeks a target annual income level of 12% and capital appreciation via direct investments in a select portfolio of semiconductor companies.
Investing in the Fund involves a high degree of risk. Due to SOXY’s investment strategy, SOXY’s exposure to gains, if any, of the share price returns of the Underlying Securities is capped. However, SOXY is subject to all potential losses if the shares of the Underlying Securities decrease in value, which may not be offset by income received by SOXY.
NONE OF THE FUND, THE TRUST, OR TIDAL INVESTMENTS LLC (THE “ADVISER”) IS AFFILIATED, CONNECTED, OR ASSOCIATED WITH ANY UNDERLYING ISSUER.
Why choose this fund?
Targeted Income
The fund seeks to deliver a target annual yield of 12% by selling options on a select portfolio of semiconductor companies.
Diversified Portfolio
Investors gain exposure to 15 to 30 semiconductor companies, selected based on liquidity, volatility, and market opportunity.
Growth Opportunity
In addition to option income, the strategy seeks capital appreciation through direct equity investments.
Distribution Information
* The most recent distribution on 11/04/2025 contains 0.00% return of capital and 100.00% income. 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 annualizing the Fund’s most recent distribution and dividing the resulting amount by the Fund’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions are not guaranteed.
** The 30-Day SEC Yield represents net investment income, which excludes option income, earned by the Fund over the 30-Day period ended at the most recent month-end, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-Day period.
The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, from the Fund. In particular, future distributions from the Fund may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution from the Fund. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.
Previous distributions have included 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.
Please refer to the 19a-1 notices at here for additional details regarding the distributions’ composition, once available.
Performance
As of 10/31/2025
| Fund Ticker | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception Cumulative (12/02/2024) | Since Inception Annualized (12/02/2024) |
|---|---|---|---|---|---|---|---|---|---|---|
| MKT | 9.50% | 10.67% | 40.37% | 24.91% | — | — | — | — | 23.68% | — |
| NAV | 9.52% | 10.84% | 40.48% | 24.92% | — | — | — | — | 23.57% | — |
| S&P 500 TR | 3.65% | 8.12% | 19.96% | 14.83% | — | — | — | — | 11.81% | — |
As of 9/30/2025
| Fund Ticker | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception Cumulative (12/02/2024) | Since Inception Annualized (12/02/2024) |
|---|---|---|---|---|---|---|---|---|---|---|
| MKT | 9.50% | 10.67% | 40.37% | 24.91% | — | — | — | — | 23.68% | — |
| NAV | 9.52% | 10.84% | 40.48% | 24.92% | — | — | — | — | 23.57% | — |
| S&P 500 TR | 3.65% | 8.12% | 19.96% | 14.83% | — | — | — | — | 11.81% | — |
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.
Fund Overview
The YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) is an actively managed exchange-traded fund that seeks to generate a target annual yield of 12% and capital appreciation through investments in a select portfolio of 15 to 30 semiconductor companies. The fund seeks to generate income primarily by selling call options and call spreads on its portfolio holdings. SOXY also seeks capital appreciation through direct equity investments. The Adviser evaluates potential holdings based on stock and options liquidity, price levels, and implied volatility, and regularly reviews the portfolio to determine whether to add or remove positions.
Investment Objective
The Fund’s primary investment objective is to seek current income, targeting an annual distribution rate of 12%. The Fund’s secondary investment objective is to seek capital appreciation through direct investments in a select portfolio of semiconductor companies. Distributions are not guaranteed and may vary over time.
Fund Details
As of 10/31/2025
*The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.
As of 11/07/2025
*30-Day Median 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.
Distributions
For YieldMax ETFs Distribution Schedules, click here.
| DISTRIBUTION PER SHARE | DECLARED DATE | EX DATE | RECORD DATE | PAYABLE DATE | ROC |
|---|---|---|---|---|---|
| $0.6210 | 11/04/2025 | 11/05/2025 | 11/05/2025 | 11/06/2025 | 0.00% |
| $0.4384 | 05/06/2025 | 05/07/2025 | 05/07/2025 | 05/08/2025 | 100.00% |
| $0.4266 | 04/01/2025 | 04/02/2025 | 04/02/2025 | 04/03/2025 | — |
| $0.4883 | 03/04/2025 | 03/05/2025 | 03/05/2025 | 03/06/2025 | — |
| $0.4883 | 02/04/2025 | 02/05/2025 | 02/05/2025 | 02/06/2025 | — |
| $0.5256 | 01/07/2025 | 01/08/2025 | 01/08/2025 | 01/10/2025 | — |
Each Underlying YieldMax ETF aims to provide weekly or monthly income, but there is no guarantee of distribution in any given month. Monthly or weekly distributions may consist of capital returns, potentially reducing each Underlying YieldMax ETF’s NAV and trading price over time. This could lead to significant losses for investors, especially as returns exclude dividends paid by the Underlying Security, resulting in lesser income compared to a direct investment in the Underlying Security.
Top 10 Holdings
As of 11/10/2025
Holdings are subject to change.
| SECURITY NAME | CUSIP | SHARES | MARKET VALUE | NET ASSETS | WEIGHTINGS |
|---|---|---|---|---|---|
| NVIDIA Corp | 67066G104 | 13,913.00 | 2,617,730.95 | 14,692,050 | 17.82% |
| Taiwan Semiconductor Manufacturing Co Ltd | 874039100 | 6,184.00 | 1,771,716.00 | 14,692,050 | 12.06% |
| ASML Holding NV | N07059210 | 1,331.00 | 1,353,573.76 | 14,692,050 | 9.21% |
| Broadcom Inc | 11135F101 | 3,332.00 | 1,164,300.76 | 14,692,050 | 7.92% |
| Micron Technology Inc | 595112103 | 4,030.00 | 958,817.60 | 14,692,050 | 6.53% |
| Advanced Micro Devices Inc | 007903107 | 3,184.00 | 743,591.36 | 14,692,050 | 5.06% |
| Intel Corp | 458140100 | 18,932.00 | 721,877.16 | 14,692,050 | 4.91% |
| Applied Materials Inc | 038222105 | 2,923.00 | 672,494.61 | 14,692,050 | 4.58% |
| QUALCOMM Inc | 747525103 | 3,444.00 | 588,545.16 | 14,692,050 | 4.01% |
| Lam Research Corp | 512807306 | 3,603.00 | 574,138.05 | 14,692,050 | 3.91% |
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