CONY
YieldMax COIN Option Income Strategy ETF
CONY seeks to provide current income and capped gains on the Coinbase Global Inc. stock (COIN) through a synthetic covered call strategy, collateralized by cash and US Treasurys. The actively managed fund uses both standardized exchange-traded and FLEX options.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
953.4 M
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | Tidal |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Aug 15, 2023 |
| Assets (mns) | $899 |
| Expense ratio | 99 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 31.0 % |
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 30.6 % |
| UNITED STATES TREASURY NOTE/BOND 2.625% 04/15 | 18.6 % |
| UNITED STATES TREASURY BILL 05/15/2025 | 16.2 % |
| UNITED STATES TREASURY BILL 06/12/2025 | 15.6 % |
| CASH & OTHER | 4.8 % |
| COIN US 05/16/25 C185 | 2.9 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 2.6 % |
| COIN US 05/16/25 C220 | 1.8 % |
| COINBASE CLL OPT 04/25 205 | 0.1 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 02/28/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -11.8% | 1.2% | -- | -- | -- | -- | 47.5% | Volatility | 52.8% | 65.0% | -- | -- | -- | -- | 60.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 5.21 | 56% |
| MSCI EAFE | 2.05 | 13% |
| MSCI Emg Mkts | 1.61 | 5% |
Liquidity Measures
| Avg. volume (000) | 5,213 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.09% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $8.08 |
| 30d moving avg. | $9.11 |
| Annualized volatility | 71.4% |
| Relative strength (RSI) | 39 |
| Short interest (ETF) | 17.2% |
| Short interest (underlying) | 0.0% |
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 |
| CONY (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) |
|
|---|---|---|---|
| CONY | 99.0 | 9.2 | 108.2 |
| Peer Avg. | 90.6 | 29.5 | 120.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .