NVDY
YieldMax NVDA Option Income Strategy ETF
NVDY seeks to provide current income and capped gains on the Nvidia stock (NVDA) 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
1.2 B
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | Tidal |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | May 10, 2023 |
| Assets (mns) | $1,181 |
| 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 | 39.8 % |
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 32.3 % |
| UNITED STATES TREASURY BILL 05/15/2025 | 11.7 % |
| UNITED STATES TREASURY BILL 06/12/2025 | 8.4 % |
| NVDA US 05/16/25 C95 | 4.8 % |
| CASH & OTHER | 3.8 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 3.6 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 2.5 % |
| NVDA US 05/16/25 C110 | 1.4 % |
| NVDA US 04/25/25 C116 | 0.1 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -22.3% | -38.2% | -- | -- | -- | -- | -- | -5.3% |
| Dividend Yield | 0.3% | 36.1% | -- | -- | -- | -- | -- | 44.4% |
| Total Returns | -22.0% | -2.1% | -- | -- | -- | -- | -- | 39.2% | Ann. Volatility | 64.4% | 46.6% | -- | -- | -- | -- | -- | 41.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.34 | 28% |
| MSCI EAFE | 0.47 | 4% |
| MSCI Emg Mkts | 0.31 | 1% |
Liquidity Measures
| Avg. volume (000) | 2,542 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.06% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $14.39 |
| 30d moving avg. | $15.51 |
| Annualized volatility | 34.7% |
| Relative strength (RSI) | 41 |
| Short interest (ETF) | 2.4% |
| 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 |
| NVDY (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) |
|
|---|---|---|---|
| NVDY | 99.0 | 5.7 | 104.7 |
| Peer Avg. | 90.6 | 32.4 | 123.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .