YieldMax™ AAPL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AAPL Option Income Strategy ETF Tailored Shareholder Report
|
Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ AAPL Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
04/17/2023
|
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04/30/2023
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|
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05/31/2023
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06/30/2023
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07/31/2023
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08/31/2023
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09/30/2023
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10/31/2023
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11/30/2023
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12/31/2023
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01/31/2024
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02/29/2024
|
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03/31/2024
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04/30/2024
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05/31/2024
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06/30/2024
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07/31/2024
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08/31/2024
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09/30/2024
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10/31/2024
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11/30/2024
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12/31/2024
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01/31/2025
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02/28/2025
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03/31/2025
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04/30/2025
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05/31/2025
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06/30/2025
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07/31/2025
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08/31/2025
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|
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09/30/2025
|
|
|
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10/31/2025
|
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|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
AAPL Option Income ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning 11.17% versus 21.45% for the benchmark. Sporadic rapid appreciation in Apple limited upside capture as short call positions required adjustment. These dynamics reflect the typical tradeoff between income generation and capped participation during sharp rallies.
YieldMax™ AAPL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AAPL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AAPL Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Apple,
Inc., Expiration: 12/19/2025; Exercise Price: $255.00 |
|
|
Apple,
Inc., Expiration: 12/19/2025; Exercise Price: $255.01 |
- |
|
Apple,
Inc., Expiration: 11/07/2025; Exercise Price: $275.00 |
- |
|
Apple,
Inc., Expiration: 11/07/2025; Exercise Price: $282.50 |
|
|
Apple,
Inc., Expiration: 11/07/2025; Exercise Price: $280.00 |
- |
|
Apple,
Inc., Expiration: 11/07/2025; Exercise Price: $292.50 |
|
| * |
| ^ |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/APLY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ AAPL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ ABNB Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ ABNB Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ ABNB Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
06/24/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
ABNB Option Income Strategy ETF - at NAV |
- |
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –8.22% versus 21.45% for the benchmark. Intraday volatility led to buying back short calls before the stock retraced, reducing net option income. These conditions reflect how rapid reversals can challenge option-income strategies even when distribution goals are achieved.
YieldMax™ ABNB Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ ABNB Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ ABNB Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Airbnb,
Inc., Expiration: 12/19/2025; Exercise Price: $130.01 |
- |
|
Airbnb,
Inc., Expiration: 12/19/2025; Exercise Price: $130.00 |
|
|
Airbnb,
Inc., Expiration: 11/07/2025; Exercise Price: $129.00 |
- |
|
Airbnb,
Inc., Expiration: 11/07/2025; Exercise Price: $134.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/ABNY.
How has the Fund changed?
Effective November 14, 2025, the Board of Trustees has approved a reverse stock split of the issued and outstanding shares. After the close of trading on NYSE Arca, Inc. on December 1, 2025, the Fund will effect as follows: Reverse Split Ratio: 1:5.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ ABNB Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AI Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AI Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ AI Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
11/27/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
AI Option Income Strategy ETF - at NAV |
- |
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
Performance targets were not met, as the Fund returned –36.29% compared with 21.45% for the benchmark. Intraday swings caused short calls to be repurchased at disadvantageous levels, pressuring returns. Despite the performance lag, the fund maintained strong income generation consistent with its design.
YieldMax™ AI Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AI Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AI Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
C3.ai,
Inc., Expiration: 11/21/2025; Exercise Price: $17.50 |
|
|
C3.ai,
Inc., Expiration: 11/21/2025; Exercise Price: $17.51 |
- |
|
C3.ai,
Inc., Expiration: 11/07/2025; Exercise Price: $18.00 |
- |
|
C3.ai,
Inc., Expiration: 11/07/2025; Exercise Price: $17.50 |
- |
|
C3.ai,
Inc., Expiration: 11/07/2025; Exercise Price: $19.50 |
|
|
C3.ai,
Inc., Expiration: 11/07/2025; Exercise Price: $18.50 |
|
|
C3.ai,
Inc., Expiration: 11/07/2025; Exercise Price: $20.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/AIYY.
How has the Fund changed?
Effective November 14, 2025, on December 1, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:10.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ AI Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AMD Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AMD Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ AMD Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
09/18/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
AMD Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 58.57% versus 21.45% for the benchmark, consistent with expectations for an option-income strategy that gives up some upside. Results were in line with internal goals and reflected normal option-related upside caps. Overall, the fund balanced high income with partial equity participation effectively.
YieldMax™ AMD Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AMD Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AMD Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Advanced
Micro Devices, Inc., Expiration: 11/21/2025; Exercise Price:
$260.01 |
- |
|
Advanced
Micro Devices, Inc., Expiration: 11/21/2025; Exercise Price:
$260.00 |
|
|
Advanced
Micro Devices, Inc., Expiration: 11/07/2025; Exercise Price:
$267.50 |
- |
|
Advanced
Micro Devices, Inc., Expiration: 11/07/2025; Exercise Price:
$272.50 |
- |
|
Advanced
Micro Devices, Inc., Expiration: 11/07/2025; Exercise Price:
$275.00 |
- |
|
Advanced
Micro Devices, Inc., Expiration: 11/07/2025; Exercise Price:
$295.00 |
|
|
Advanced
Micro Devices, Inc., Expiration: 11/07/2025; Exercise Price:
$285.00 |
|
|
Advanced
Micro Devices, Inc., Expiration: 11/07/2025; Exercise Price:
$277.50 |
- |
|
Advanced
Micro Devices, Inc., Expiration: 11/07/2025; Exercise Price:
$305.00 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/AMDY.
How has the Fund changed?
Effective November 14, 2025, on December 5, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:5.
Effective
Effective October 1, 2025, the Fund will seek to make distributions on a monthly or more frequent basis.
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ AMD Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AMZN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AMZN Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ AMZN Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
07/24/2023
|
|
|
|
07/31/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (7/24/2023) |
|---|---|---|
|
YieldMax™
AMZN Option Income ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 28.81% compared to 21.45% for the benchmark. The strategy exceeded internal upside-capture expectations even as option writing capped some gains. This outcome reflects a favorable income-and-upside balance in a strong market.
YieldMax™ AMZN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AMZN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ AMZN Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Amazon.com,
Inc., Expiration: 11/21/2025; Exercise Price: $220.00 |
|
|
Amazon.com,
Inc., Expiration: 11/07/2025; Exercise Price: $252.50 |
- |
|
Amazon.com,
Inc., Expiration: 11/21/2025; Exercise Price: $220.01 |
- |
|
Amazon.com,
Inc., Expiration: 11/07/2025; Exercise Price: $260.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/AMZY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ AMZN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ BABA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ BABA Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ BABA Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
08/07/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (8/7/2024) |
|---|---|---|
|
YieldMax™
BABA Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning 42.9% versus 21.45% for the benchmark after a rapid 45% rally in BABA compressed upside capture. The sudden strong move exceeded what the option overlay could track in real time.
YieldMax™ BABA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ BABA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ BABA Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Alibaba
Group Holding Ltd., Expiration: 11/21/2025; Exercise Price:
$140.00 |
|
|
Alibaba
Group Holding Ltd., Expiration: 11/07/2025; Exercise Price:
$175.00 |
- |
|
Alibaba
Group Holding Ltd., Expiration: 11/21/2025; Exercise Price:
$140.01 |
- |
|
Alibaba
Group Holding Ltd., Expiration: 11/07/2025; Exercise Price:
$180.00 |
- |
|
Alibaba
Group Holding Ltd., Expiration: 11/07/2025; Exercise Price:
$182.50 |
|
|
Alibaba
Group Holding Ltd., Expiration: 11/07/2025; Exercise Price:
$185.00 |
|
|
Alibaba
Group Holding Ltd., Expiration: 11/07/2025; Exercise Price:
$190.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/BABO.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ BABA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Bitcoin Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Bitcoin Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Bitcoin Option Income
Strategy ETF
|
S&P 500® Total Return
Index
|
|
04/22/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
|
1
Year |
Since
Inception (4/22/2024) |
|---|---|---|
|
YieldMax™
Bitcoin Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did meet its performance target, returning 31.22% versus 21.45% for the benchmark as position limits constrained the amount of spreads deployed early in the year. This reduced upside participation during strong periods for crypto-related markets. Still, the fund delivered strong income consistent with its goals.
YieldMax™ Bitcoin Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Bitcoin Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Bitcoin Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
iShares
Bitcoin Trust ETF,
Expiration:
11/21/2025; Exercise Price: $65.01 |
- |
|
iShares
Bitcoin Trust ETF,
Expiration:
11/21/2025; Exercise Price: $65.00 |
|
|
iShares
Bitcoin Trust ETF,
Expiration:
11/07/2025; Exercise Price: $62.00 |
- |
|
iShares
Bitcoin Trust ETF,
Expiration:
11/07/2025; Exercise Price: $62.50 |
- |
|
iShares
Bitcoin Trust ETF,
Expiration:
11/07/2025; Exercise Price: $63.00 |
- |
|
iShares
Bitcoin Trust ETF,
Expiration:
11/07/2025; Exercise Price: $64.50 |
|
|
iShares
Bitcoin Trust ETF,
Expiration:
11/07/2025; Exercise Price: $65.00 |
|
|
iShares
Bitcoin Trust ETF,
Expiration:
11/07/2025; Exercise Price: $65.50 |
|
|
iShares
Bitcoin Trust ETF,
Expiration:
11/07/2025; Exercise Price: $66.00 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/YBIT.
How has the Fund changed?
Effective November 14, 2025, on November 28, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:5.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Bitcoin Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ BRK.B Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ BRK.B Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ BRK.B Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
06/04/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
Since
Inception (06/04/2025) |
|---|---|
|
YieldMax™
BRK.B Option Income Strategy ETF - at NAV |
- |
|
S&P
500® TR |
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –2.77% versus 15.11% for the benchmark. Performance aligned with expectations for a steady income-focused option strategy. Overall results reflect balanced income generation with modest participation in the underlying’s moves.
YieldMax™ BRK.B Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ BRK.B Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ BRK.B Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Berkshire
Hathaway, Inc., Expiration: 11/21/2025; Exercise Price:
$490.01 |
- |
|
Berkshire
Hathaway, Inc., Expiration: 11/21/2025; Exercise Price:
$490.00 |
|
|
Berkshire
Hathaway, Inc., Expiration: 11/07/2025; Exercise Price:
$485.00 |
- |
|
Berkshire
Hathaway, Inc., Expiration: 11/07/2025; Exercise Price:
$482.50 |
- |
|
Berkshire
Hathaway, Inc., Expiration: 11/07/2025; Exercise Price:
$480.00 |
- |
|
Berkshire
Hathaway, Inc., Expiration: 11/07/2025; Exercise Price:
$492.50 |
|
|
Berkshire
Hathaway, Inc., Expiration: 11/07/2025; Exercise Price:
$487.50 |
|
|
Berkshire
Hathaway, Inc., Expiration: 11/07/2025; Exercise Price:
$495.00 |
|
|
Berkshire
Hathaway, Inc., Expiration: 11/07/2025; Exercise Price:
$497.50 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/BRKC.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ BRK.B Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ COIN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ COIN Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ COIN Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
08/14/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
COIN Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 39.94% compared to 21.45% for the benchmark. Upside capture was limited because option spreads were not applied to 100% of exposure when Coinbase entered the S&P 500.
YieldMax™ COIN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ COIN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ COIN Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Coinbase
Global, Inc., Expiration: 12/19/2025;
Exercise
Price: $390.01 |
- |
|
Coinbase
Global, Inc., Expiration: 11/21/2025;
Exercise
Price: $300.00 |
|
|
Coinbase
Global, Inc., Expiration: 12/19/2025;
Exercise
Price: $390.00 |
|
|
Coinbase
Global, Inc., Expiration: 11/07/2025;
Exercise
Price: $357.50 |
- |
|
Coinbase
Global, Inc., Expiration: 11/21/2025;
Exercise
Price: $300.01 |
- |
|
Coinbase
Global, Inc., Expiration: 11/07/2025;
Exercise
Price: $362.50 |
- |
|
Coinbase
Global, Inc., Expiration: 11/07/2025;
Exercise
Price: $377.50 |
|
|
Coinbase
Global, Inc., Expiration: 11/07/2025;
Exercise
Price: $370.00 |
- |
|
Coinbase
Global, Inc., Expiration: 11/07/2025;
Exercise
Price: $382.50 |
|
|
Coinbase
Global, Inc., Expiration: 11/07/2025;
Exercise
Price: $365.00 |
- |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/CONY.
How has the Fund changed?
Effective November 14, 2025, on December 1, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:10.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ COIN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ CVNA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ CVNA Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ CVNA Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
01/29/2025
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
Since
Inception ( |
|---|---|
|
YieldMax™
CVNA Option Income Strategy ETF - at NAV |
|
|
S&P
500® TR |
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 20.50% compared with 14.37% for the benchmark. Results followed expectations for an option-income strategy that naturally gives up some upside. The fund delivered high income while capturing a portion of Carvana’s gains.
YieldMax™ CVNA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ CVNA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ CVNA Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Carvana
Co., Expiration: 12/19/2025;
Exercise
Price: $300.00 |
|
|
Carvana
Co., Expiration: 12/19/2025;
Exercise
Price: $300.01 |
- |
|
Carvana
Co., Expiration: 11/07/2025;
Exercise
Price: $317.50 |
- |
|
Carvana
Co., Expiration: 11/07/2025;
Exercise
Price: $322.50 |
- |
|
Carvana
Co., Expiration: 11/07/2025;
Exercise
Price: $337.50 |
|
|
Carvana
Co., Expiration: 11/07/2025;
Exercise
Price: $330.00 |
- |
|
Carvana
Co., Expiration: 11/07/2025;
Exercise
Price: $320.00 |
- |
|
Carvana
Co., Expiration: 11/07/2025;
Exercise
Price: $350.00 |
|
|
Carvana
Co., Expiration: 11/07/2025;
Exercise
Price: $340.00 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/CVNY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ CVNA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ DIS Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ DIS Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ DIS Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
08/24/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
DIS Option Income ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning 12.8% versus 21.45% for the benchmark. Results were not consistent with expectations for a call-writing strategy that prioritizes income over full upside. The fund delivered steady returns while maintaining its income mandate.
YieldMax™ DIS Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ DIS Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ DIS Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
The
Walt Disney Company, Expiration: 11/21/2025; Exercise Price:
$120.01 |
- |
|
The
Walt Disney Company, Expiration: 11/21/2025; Exercise Price:
$120.00 |
|
|
The
Walt Disney Company, Expiration: 11/07/2025; Exercise Price:
$113.00 |
- |
|
The
Walt Disney Company, Expiration: 11/07/2025; Exercise Price:
$114.00 |
- |
|
The
Walt Disney Company, Expiration: 11/07/2025; Exercise Price:
$117.00 |
|
|
The
Walt Disney Company, Expiration: 11/07/2025; Exercise Price:
$116.00 |
|
|
The
Walt Disney Company, Expiration: 11/07/2025; Exercise Price:
$115.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/DISO.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ DIS Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ DKNG Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ DKNG Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ DKNG Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
07/14/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
Since
Inception ( |
|---|---|
|
YieldMax™
DKNG Option Income Strategy ETF - at NAV |
- |
|
S&P
500® TR |
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –26.06% versus 9.49% for the benchmark. The option overlay helped cushion losses during a down period for the underlying. Overall, the fund performed less than expected while supporting a high level of income.
YieldMax™ DKNG Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ DKNG Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ DKNG Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
DraftKings,
Inc., Expiration: 11/21/2025;
Exercise
Price: $31.01 |
- |
|
DraftKings,
Inc., Expiration: 11/21/2025;
Exercise
Price: $31.00 |
|
|
DraftKings,
Inc., Expiration: 11/07/2025;
Exercise
Price: $32.00 |
- |
|
DraftKings,
Inc., Expiration: 11/07/2025;
Exercise
Price: $35.00 |
|
|
DraftKings,
Inc., Expiration: 11/07/2025;
Exercise
Price: $33.00 |
- |
|
DraftKings,
Inc., Expiration: 11/07/2025;
Exercise
Price: $33.50 |
- |
|
DraftKings,
Inc., Expiration: 11/07/2025;
Exercise
Price: $32.50 |
- |
|
DraftKings,
Inc., Expiration: 11/07/2025;
Exercise
Price: $36.00 |
|
|
DraftKings,
Inc., Expiration: 11/07/2025;
Exercise
Price: $34.50 |
|
|
DraftKings,
Inc., Expiration: 11/07/2025;
Exercise
Price: $35.50 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/DRAY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ DKNG Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Gold Miners Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Gold Miners Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Gold Miners Option Income
Strategy ETF
|
S&P 500® Total Return
Index
|
|
05/20/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (5/20/2024) |
|---|---|---|
|
YieldMax™
Gold Miners Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 47.42% versus 21.45% for the benchmark as gold miners surged roughly 50% in a short period. The call-writing overlay limited upside participation during this sharp move. Still, the fund maintained a strong income profile consistent with its strategy.
YieldMax™ Gold Miners Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Gold Miners Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Gold Miners Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
VanEck
Gold Miners ETF, Expiration: 11/21/2025; Exercise Price:
$75.01 |
- |
|
VanEck
Gold Miners ETF, Expiration: 11/21/2025; Exercise Price:
$75.00 |
|
|
VanEck
Gold Miners ETF, Expiration: 11/07/2025; Exercise Price:
$73.50 |
- |
|
VanEck
Gold Miners ETF, Expiration: 11/07/2025; Exercise Price:
$74.50 |
- |
|
VanEck
Gold Miners ETF, Expiration: 11/07/2025; Exercise Price:
$74.00 |
- |
|
VanEck
Gold Miners ETF, Expiration: 11/07/2025; Exercise Price:
$76.50 |
|
|
VanEck
Gold Miners ETF, Expiration: 11/07/2025; Exercise Price:
$75.00 |
- |
|
VanEck
Gold Miners ETF, Expiration: 11/07/2025; Exercise Price:
$77.50 |
|
|
VanEck
Gold Miners ETF, Expiration: 11/07/2025; Exercise Price:
$77.00 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/GDXY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Gold Miners Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ GOOGL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ GOOGL Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ GOOGL Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
07/27/2023
|
|
|
|
07/31/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (7/27/2023) |
|---|---|---|
|
YieldMax™
GOOGL Option Income ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 47.95% versus 21.45% for its benchmark while outperforming internal upside-capture expectations. The strategy effectively balanced equity participation and income. This reflects strong execution of the option-income approach.
YieldMax™ GOOGL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ GOOGL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ GOOGL Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Alphabet,
Inc., Expiration: 11/21/2025;
Exercise
Price: $220.00 |
|
|
U.S.
Treasury Securities |
|
|
Alphabet,
Inc., Expiration: 11/07/2025;
Exercise
Price: $290.00 |
- |
|
Alphabet,
Inc., Expiration: 11/21/2025;
Exercise
Price: $220.01 |
- |
|
Alphabet,
Inc., Expiration: 11/07/2025;
Exercise
Price: $297.50 |
- |
|
Alphabet,
Inc., Expiration: 11/07/2025;
Exercise
Price: $292.50 |
- |
|
Alphabet,
Inc., Expiration: 11/07/2025;
Exercise
Price: $295.00 |
- |
|
Alphabet,
Inc., Expiration: 11/07/2025;
Exercise
Price: $305.00 |
|
|
Alphabet,
Inc., Expiration: 11/07/2025;
Exercise
Price: $300.00 |
|
|
Alphabet,
Inc., Expiration: 11/07/2025;
Exercise
Price: $307.50 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/GOOY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ GOOGL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ HOOD Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ HOOD Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Hood Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
05/07/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
Since
Inception (05/07/2025) |
|---|---|
|
YieldMax™
HOOD Option Income Strategy ETF - at NAV |
|
|
S&P
500® TR |
|
How did the Fund perform last year and what affected its performance?
The fund met its performance target, returning 122.37% versus 22.22% for its benchmark as the underlying surged rapidly from June to October. The call overlay limited upside capture during this unusually fast appreciation. Nonetheless, the fund delivered very high income and strong absolute returns.
YieldMax™ HOOD Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ HOOD Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ HOOD Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Robinhood
Markets, Inc., Expiration: 12/19/2025; Exercise Price:
$145.00 |
|
|
Robinhood
Markets, Inc., Expiration: 12/19/2025; Exercise Price:
$145.01 |
- |
|
U.S.
Treasury Securities |
|
|
Robinhood
Markets, Inc., Expiration: 11/07/2025; Exercise Price:
$160.00 |
- |
|
Robinhood
Markets, Inc., Expiration: 11/07/2025; Exercise Price:
$157.50 |
- |
|
Robinhood
Markets, Inc., Expiration: 11/07/2025; Exercise Price:
$150.00 |
- |
|
Robinhood
Markets, Inc., Expiration: 11/07/2025; Exercise Price:
$170.00 |
|
|
Robinhood
Markets, Inc., Expiration: 11/07/2025; Exercise Price:
$172.50 |
|
|
Robinhood
Markets, Inc., Expiration: 11/07/2025; Exercise Price:
$165.00 |
|
|
Robinhood
Markets, Inc., Expiration: 11/07/2025; Exercise Price:
$175.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/HOOY.
How has the Fund changed?
Effective
Effective October 1, 2025, the Fund will seek to make distributions on a monthly or more frequent basis.
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ HOOD Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Innovation Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Innovation Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Innovation Option Income
Strategy ETF
|
S&P 500® Total Return
Index
|
|
11/22/2022
|
|
|
|
11/30/2022
|
|
|
|
12/31/2022
|
|
|
|
01/31/2023
|
|
|
|
02/28/2023
|
|
|
|
03/31/2023
|
|
|
|
04/30/2023
|
|
|
|
05/31/2023
|
|
|
|
06/30/2023
|
|
|
|
07/31/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (11/22/2022) |
|---|---|---|
|
YieldMax™
Innovation Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 53.68%% versus 21.45% for the benchmark. Income generation remained strong and consistent with strategy objectives.
YieldMax™ Innovation Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Innovation Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Innovation Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
ARK
Innovation ETF, Expiration: 11/21/2025; Exercise Price:
$80.00 |
|
|
ARK
Innovation ETF, Expiration: 11/21/2025; Exercise Price:
$80.01 |
- |
|
ARK
Innovation ETF, Expiration: 11/07/2025; Exercise Price:
$89.00 |
- |
|
ARK
Innovation ETF, Expiration: 11/07/2025; Exercise Price:
$90.00 |
- |
|
ARK
Innovation ETF, Expiration: 11/07/2025; Exercise Price:
$88.00 |
- |
|
ARK
Innovation ETF, Expiration: 11/07/2025; Exercise Price:
$93.00 |
|
|
ARK
Innovation ETF, Expiration: 11/07/2025; Exercise Price:
$94.00 |
|
|
ARK
Innovation ETF, Expiration: 11/07/2025; Exercise Price:
$91.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/OARK.
How has the Fund changed?
Effective November 14, 2025, on December 1, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:5.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Innovation Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ JPM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ JPM Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ JPM Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
09/11/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (9/11/2023) |
|---|---|---|
|
YieldMax™
JPM Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 23.05% versus 21.45% for the benchmark after large intraday moves forced repurchasing short calls at higher prices. The fund maintained a steady income profile aligned with its mandate.
YieldMax™ JPM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ JPM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ JPM Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
JPMorgan
Chase & Co., Expiration: 11/21/2025; Exercise Price:
$290.00 |
|
|
JPMorgan
Chase & Co., Expiration: 11/21/2025; Exercise Price:
$290.01 |
- |
|
JPMorgan
Chase & Co., Expiration: 11/07/2025; Exercise Price:
$317.50 |
- |
|
JPMorgan
Chase & Co., Expiration: 11/07/2025; Exercise Price:
$315.00 |
- |
|
JPMorgan
Chase & Co., Expiration: 11/07/2025; Exercise Price:
$320.00 |
|
|
JPMorgan
Chase & Co., Expiration: 11/07/2025; Exercise Price:
$325.00 |
|
|
JPMorgan
Chase & Co., Expiration: 11/21/2025; Exercise Price:
$290.01 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/JPMO.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ JPM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Magnificent 7 Fund of Option Income ETFs Tailored Shareholder Report
YieldMax™ Magnificent 7 Fund of Option Income ETFs Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Magnificent 7 Fund of Option
Income ETFs
|
S&P 500® Total Return
Index
|
|
01/29/2024
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (1/29/2024) |
|---|---|---|
|
YieldMax™
Magnificent 7 Fund of Option Income ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 31.85% versus 21.45% for the benchmark while outperforming internal upside expectations. The diversified exposure supported steady income and above-target participation. Overall, results aligned well with strategy objectives.
YieldMax™ Magnificent 7 Fund of Option Income ETFs Tailored Shareholder Report
YieldMax™ Magnificent 7 Fund of Option Income ETFs Tailored Shareholder Report
YieldMax™ Magnificent 7 Fund of Option Income ETFs Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Exchange Traded Funds
|
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
YieldMax
NVDA Option Income Strategy ETF |
|
|
YieldMax
GOOGL Option Income Strategy ETF |
|
|
Yieldmax
Tsla Option Income ETF |
|
|
YieldMax
MSFT Option Income Strategy ETF |
|
|
YieldMax
AAPL Option Income Strategy ETF |
|
|
Yieldmax
Meta Option Income Strategy ETF |
|
|
Amazon.com,
Inc., Expiration: 11/21/2025; Exercise Price: $220.00 |
|
|
Amazon.com,
Inc., Expiration: 11/21/2025; Exercise Price: $220.01 |
- |
|
Amazon.com,
Inc., Expiration: 11/07/2025; Exercise Price: $250.00 |
- |
|
Amazon.com,
Inc., Expiration: 11/07/2025; Exercise Price: $255.00 |
- |
| ^ |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/YMAG.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Magnificent 7 Fund of Option Income ETFs Tailored Shareholder Report
YieldMax™ MARA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MARA Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ MARA Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
12/09/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
Since
Inception (12/09/2024) |
|---|---|
|
YieldMax™
MARA Option Income Strategy ETF - at NAV |
- |
|
S&P
500® TR |
|
How did the Fund perform last year and what affected its performance?
The fund did not meet its performance target, returning -28.01 versus 14.28% for the benchmark amid significant volatility in the underlying. Intraday stock movements created challenges for managing short calls. The fund still delivered substantial income consistent with its objectives.
YieldMax™ MARA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MARA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MARA Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Marathon
Digital Holdings, Inc., Expiration: 11/21/2025; Exercise Price:
$19.01 |
- |
|
Marathon
Digital Holdings, Inc., Expiration: 11/21/2025; Exercise Price:
$19.00 |
|
|
Marathon
Digital Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$18.00 |
|
|
Marathon
Digital Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$18.01 |
- |
|
Marathon
Digital Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$19.00 |
- |
|
Marathon
Digital Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$19.50 |
- |
|
Marathon
Digital Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$22.50 |
|
|
Marathon
Digital Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$21.50 |
|
|
Marathon
Digital Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$22.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/MARO.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ MARA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ META Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ META Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ META Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
07/27/2023
|
|
|
|
07/31/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (7/27/2023) |
|---|---|---|
|
YieldMax™
META Option Income ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund not meet its performance target, returning 6.96% versus 21.45% for the benchmark after Meta’s sharp gains forced short call spreads to be repurchased at losses. This reduced upside capture during rapid price appreciation. Even so, the fund maintained strong income generation aligned with its objective.
YieldMax™ META Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ META Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ META Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Meta
Platforms, Inc., Expiration: 11/21/2025; Exercise Price:
$740.01 |
- |
|
Meta
Platforms, Inc., Expiration: 11/21/2025; Exercise Price:
$740.00 |
|
|
Meta
Platforms, Inc., Expiration: 11/07/2025; Exercise Price:
$680.00 |
- |
|
Meta
Platforms, Inc., Expiration: 11/07/2025; Exercise Price:
$670.00 |
- |
|
Meta
Platforms, Inc., Expiration: 11/07/2025; Exercise Price:
$700.00 |
|
|
Meta
Platforms, Inc., Expiration: 11/07/2025; Exercise Price:
$690.00 |
|
|
Meta
Platforms, Inc., Expiration: 11/07/2025; Exercise Price:
$665.00 |
- |
|
Meta
Platforms, Inc., Expiration: 11/07/2025; Exercise Price:
$685.00 |
- |
|
Meta
Platforms, Inc., Expiration: 11/07/2025; Exercise Price:
$705.00 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/FBY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ META Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MRNA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MRNA Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ MRNA Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
10/23/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception (10/23/2023) |
|---|---|---|
|
YieldMax™
MRNA Option Income Strategy ETF - at NAV |
- |
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –48.88% versus 21.45% for the benchmark as intraday moves raised the cost of repurchasing calls. These adjustments weighed modestly on total return. Despite this, the fund produced high distributions as intended.
YieldMax™ MRNA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MRNA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MRNA Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Moderna,
Inc., Expiration: 11/21/2025; Exercise Price: $25.00 |
|
|
U.S.
Treasury Securities |
|
|
Moderna,
Inc., Expiration: 11/21/2025; Exercise Price: $25.01 |
- |
|
Moderna,
Inc., Expiration: 11/07/2025; Exercise Price: $26.50 |
- |
|
Moderna,
Inc., Expiration: 11/07/2025; Exercise Price: $26.00 |
- |
|
Moderna,
Inc., Expiration: 11/07/2025; Exercise Price: $29.00 |
|
|
Moderna,
Inc., Expiration: 11/07/2025; Exercise Price: $30.00 |
- |
|
Moderna,
Inc., Expiration: 11/07/2025; Exercise Price: $29.50 |
- |
|
Moderna,
Inc., Expiration: 11/07/2025; Exercise Price: $33.00 |
|
|
Moderna,
Inc., Expiration: 11/07/2025; Exercise Price: $28.50 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/MRNY.
How has the Fund changed?
Effective November 14, 2025, on November 28, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:10.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ MRNA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MSFT Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MSFT Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ MSFT Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
08/24/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
MSFT Option Income ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 25.53% versus 21.45% for the benchmark, exceeding internal upside-capture expectations. Option overlays effectively balanced income and participation. This reflects strong alignment with the strategy’s goals.
YieldMax™ MSFT Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MSFT Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MSFT Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Microsoft
Corporation, Expiration: 12/19/2025; Exercise Price:
$515.00 |
|
|
Microsoft
Corporation, Expiration: 12/19/2025; Exercise Price:
$515.01 |
- |
|
Microsoft
Corporation, Expiration: 11/07/2025; Exercise Price:
$525.00 |
- |
|
Microsoft
Corporation, Expiration: 11/07/2025; Exercise Price:
$527.50 |
- |
|
Microsoft
Corporation, Expiration: 11/07/2025; Exercise Price:
$530.00 |
- |
|
Microsoft
Corporation, Expiration: 11/07/2025; Exercise Price:
$535.00 |
|
|
Microsoft
Corporation, Expiration: 11/07/2025; Exercise Price:
$537.50 |
|
|
Microsoft
Corporation, Expiration: 11/07/2025; Exercise Price:
$540.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/MSFO.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ MSFT Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MSTR Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MSTR Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ MSTR Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
02/21/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
MSTR Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning 4.95% versus 21.45% for the benchmark amid large intraday moves requiring costly call repurchases. These dynamics reduced total return despite high income. Overall, the fund delivered its income objective while accepting limited upside.
YieldMax™ MSTR Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MSTR Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ MSTR Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Strategy
Inc., Expiration: 11/21/2025; Exercise Price: $330.01 |
- |
|
Strategy
Inc., Expiration: 01/16/2026; Exercise Price: $300.01 |
- |
|
Strategy
Inc., Expiration: 01/16/2026; Exercise Price: $300.00 |
|
|
Strategy
Inc., Expiration: 12/19/2025; Exercise Price: $270.00 |
|
|
Strategy
Inc., Expiration: 12/19/2025; Exercise Price: $270.01 |
- |
|
U.S.
Treasury Securities |
|
|
Strategy
Inc., Expiration: 11/07/2025; Exercise Price: $280.00 |
- |
|
Strategy
Inc., Expiration: 11/21/2025; Exercise Price: $330.00 |
|
|
Strategy
Inc., Expiration: 11/07/2025; Exercise Price: $277.50 |
- |
|
Strategy
Inc., Expiration: 11/07/2025; Exercise Price: $282.50 |
- |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/MSTY.
How has the Fund changed?
There were no material changes during the reporting period.
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ MSTR Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ NFLX Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ NFLX Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ NFLX Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
08/07/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
NFLX Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 33.04% versus 21.45% for the benchmark as rapid appreciation capped upside through short-call exposure. This constrained performance relative to the underlying. Nevertheless, the fund generated meaningful income and performance aligned with its design.
YieldMax™ NFLX Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ NFLX Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ NFLX Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Netflix,
Inc., Expiration: 11/21/2025; Exercise Price: $1,260.01 |
- |
|
U.S.
Treasury Securities |
|
|
Netflix,
Inc., Expiration: 11/07/2025; Exercise Price: $1,115.00 |
- |
|
Netflix,
Inc., Expiration: 11/07/2025; Exercise Price: $1,130.00 |
- |
|
Netflix,
Inc., Expiration: 11/21/2025; Exercise Price: $1,260.00 |
|
|
Netflix,
Inc., Expiration: 11/07/2025; Exercise Price: $1,140.00 |
- |
|
Netflix,
Inc., Expiration: 11/07/2025; Exercise Price: $1,145.00 |
|
|
Netflix,
Inc., Expiration: 11/07/2025; Exercise Price: $1,160.00 |
|
|
Netflix,
Inc., Expiration: 11/07/2025; Exercise Price: $1,170.00 |
|
|
Netflix,
Inc., Expiration: 11/07/2025; Exercise Price: $1,175.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/NFLY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ NFLX Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ NVDA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ NVDA Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ NVDA Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
05/10/2023
|
|
|
|
05/31/2023
|
|
|
|
06/30/2023
|
|
|
|
07/31/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
NVDA Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 36.93% versus 21.45% for the benchmark in a period of strong Nvidia performance. Results aligned with expectations for a call-writing strategy. The fund balanced income and partial upside effectively.
YieldMax™ NVDA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ NVDA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ NVDA Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
NVIDIA
Corporation, Expiration: 11/21/2025; Exercise Price:
$165.00 |
|
|
NVIDIA
Corporation, Expiration: 11/21/2025; Exercise Price:
$205.01 |
- |
|
NVIDIA
Corporation, Expiration: 11/21/2025; Exercise Price:
$205.00 |
|
|
NVIDIA
Corporation, Expiration: 11/07/2025; Exercise Price:
$210.00 |
- |
|
NVIDIA
Corporation, Expiration: 11/21/2025; Exercise Price:
$165.01 |
- |
|
NVIDIA
Corporation, Expiration: 11/07/2025; Exercise Price:
$215.00 |
- |
|
NVIDIA
Corporation, Expiration: 11/07/2025; Exercise Price:
$212.50 |
- |
|
NVIDIA
Corporation, Expiration: 11/07/2025; Exercise Price:
$217.50 |
|
|
NVIDIA
Corporation, Expiration: 11/07/2025; Exercise Price:
$220.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/NVDY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ NVDA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ PLTR Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ PLTR Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ PLTR Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
10/07/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
PLTR Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 211.94% versus 21.45% for the benchmark. The fund delivered substantial income and strong absolute returns.
YieldMax™ PLTR Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ PLTR Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ PLTR Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
|
Common Stocks
|
- |
| ^ |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities. Common Stocks represents securities sold short.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Palantir
Technologies, Inc., Expiration: 11/21/2025; Exercise Price:
$160.00 |
|
|
Palantir
Technologies, Inc., Expiration: 11/21/2025; Exercise Price:
$200.00 |
|
|
Palantir
Technologies, Inc., Expiration: 11/21/2025; Exercise Price:
$200.01 |
- |
|
U.S.
Treasury Securities |
|
|
Palantir
Technologies, Inc., Expiration: 11/07/2025; Exercise Price:
$210.00 |
- |
|
Palantir
Technologies, Inc., Expiration: 11/07/2025; Exercise Price:
$212.50 |
- |
|
Palantir
Technologies, Inc., Expiration: 11/07/2025; Exercise Price:
$225.00 |
|
|
Palantir
Technologies, Inc., Expiration: 11/07/2025; Exercise Price:
$207.50 |
- |
|
Palantir
Technologies, Inc., Expiration: 11/21/2025; Exercise Price:
$160.01 |
- |
|
Palantir
Technologies, Inc., Expiration: 11/07/2025; Exercise Price:
$227.50 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/PLTY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ PLTR Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ PYPL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ PYPL Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ PYPL Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
09/25/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
PYPL Option Income Strategy ETF - at NAV |
- |
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –12.88% versus 21.45% for the benchmark as February’s sharp drop and intraday reversals required buying back calls before the stock recovered. This reduced option income and performance. Still, the fund maintained a meaningful distribution consistent with its goals.
YieldMax™ PYPL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ PYPL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ PYPL Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
PayPal
Holdings, Inc., Expiration: 11/21/2025; Exercise Price:
$67.50 |
|
|
PayPal
Holdings, Inc., Expiration: 11/21/2025; Exercise Price:
$67.51 |
- |
|
PayPal
Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$70.00 |
- |
|
PayPal
Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$73.00 |
|
|
PayPal
Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$69.00 |
- |
|
PayPal
Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$72.00 |
- |
|
PayPal
Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$71.00 |
- |
|
PayPal
Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$75.00 |
|
|
PayPal
Holdings, Inc., Expiration: 11/07/2025; Exercise Price:
$74.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/PYPY.
How has the Fund changed?
Effective November 26, 2025, on December 5, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:5.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ PYPL Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ RBLX Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ RBLX Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ RBLX Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
07/28/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
Since
Inception ( |
|---|---|
|
YieldMax™
RBLX Option Income Strategy ETF - at NAV |
- |
|
S&P
500® TR |
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –2.18% versus 7.38% for the benchmark. Option income helped cushion volatility-driven drawdowns. Despite this, the Fund achieved income objectives.
YieldMax™ RBLX Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ RBLX Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ RBLX Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net
assets) |
|---|---|
|
Roblox
Corporation, Expiration: 12/19/2025;
Exercise
Price: $130.01 |
- |
|
Roblox
Corporation, Expiration: 12/19/2025;
Exercise
Price: $130.00 |
|
|
Roblox
Corporation, Expiration: 11/07/2025;
Exercise
Price: $117.00 |
- |
|
Roblox
Corporation, Expiration: 11/07/2025;
Exercise
Price: $125.00 |
|
|
Roblox
Corporation, Expiration: 11/07/2025;
Exercise
Price: $131.00 |
|
|
Roblox
Corporation, Expiration: 11/07/2025;
Exercise
Price: $124.00 |
- |
|
Roblox
Corporation, Expiration: 11/07/2025;
Exercise
Price: $118.00 |
- |
|
Roblox
Corporation, Expiration: 11/07/2025;
Exercise
Price: $126.00 |
- |
|
Roblox
Corporation, Expiration: 11/07/2025;
Exercise
Price: $133.00 |
|
|
Roblox
Corporation, Expiration: 11/07/2025;
Exercise
Price: $119.00 |
- |
| * |
| ^ |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/RBLY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ RBLX Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short COIN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short COIN Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Short COIN Option Income
Strategy ETF
|
S&P 500® Total Return
Index
|
|
07/09/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
Short COIN Option Income Strategy ETF - at NAV |
- |
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target as a short strategy, losing –63.59% while the benchmark gained 21.45%, unsuccessfully losing more than the benchmark's appreciation. This does not match expectations for a risk-managed short-exposure design. High distributions remained a key feature of the fund’s profile.
YieldMax™ Short COIN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short COIN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short COIN Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Put Options
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Coinbase
Global, Inc., Expiration: 11/21/2025; Exercise Price:
$300.02 |
- |
|
Coinbase
Global, Inc., Expiration: 11/07/2025; Exercise Price:
$345.00 |
- |
|
Coinbase
Global, Inc., Expiration: 11/21/2025; Exercise Price:
$300.00 |
|
|
Coinbase
Global, Inc., Expiration: 11/07/2025; Exercise Price:
$325.00 |
|
|
Coinbase
Global, Inc., Expiration: 11/07/2025; Exercise Price:
$335.00 |
- |
|
Coinbase
Global, Inc., Expiration: 11/07/2025; Exercise Price:
$337.50 |
- |
|
Coinbase
Global, Inc., Expiration: 11/07/2025; Exercise Price:
$315.00 |
|
|
Coinbase
Global, Inc., Expiration: 11/21/2025; Exercise Price:
$510.00 |
|
|
Coinbase
Global, Inc., Expiration: 11/07/2025; Exercise Price:
$317.50 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/FIAT.
How has the Fund changed?
Effective November 14, 2025, on December 1, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:10.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Short COIN Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short N100 Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short N100 Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Short N100 Option Income
Strategy ETF
|
S&P 500® Total Return
Index
|
|
08/14/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
Short N100 Option Income Strategy ETF - at NAV |
- |
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target as a short strategy, returning -15.67% while the benchmark gained 21.45%, unsuccessfully losing more than the benchmark’s appreciation. Results did not align with expectations for the fund’s risk-managed design.
YieldMax™ Short N100 Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short N100 Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short N100 Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Put Options
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Invesco
QQQ Trust Series 1, Expiration: 11/21/2025; Exercise Price:
$605.02 |
- |
|
Invesco
QQQ Trust Series 1, Expiration: 11/21/2025; Exercise Price:
$605.00 |
|
|
Invesco
QQQ Trust Series 1, Expiration: 11/07/2025; Exercise Price:
$622.00 |
- |
|
Invesco
QQQ Trust Series 1, Expiration: 11/07/2025; Exercise Price:
$615.00 |
- |
|
Invesco
QQQ Trust Series 1, Expiration: 11/21/2025; Exercise Price:
$750.00 |
|
| * |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/YQQQ.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Short N100 Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short NVDA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short NVDA Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Short NVDA Option Income
Strategy ETF
|
S&P 500® Total Return
Index
|
|
07/23/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
Short NVDA Option Income Strategy ETF - at NAV |
- |
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target as a short strategy, losing –40.99% while the benchmark gained 21.45%, losing materially more than the underlying advance. The strategy did not perform as intended under strong upward pressure.
YieldMax™ Short NVDA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short NVDA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short NVDA Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Put Options
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
NVIDIA
Corporation, Expiration: 11/21/2025; Exercise Price:
$175.02 |
- |
|
NVIDIA
Corporation, Expiration: 11/07/2025; Exercise Price:
$197.50 |
- |
|
NVIDIA
Corporation, Expiration: 11/21/2025; Exercise Price:
$175.00 |
|
|
NVIDIA
Corporation, Expiration: 11/21/2025; Exercise Price:
$250.00 |
|
|
NVIDIA
Corporation, Expiration: 11/07/2025; Exercise Price:
$185.00 |
|
|
NVIDIA
Corporation, Expiration: 11/07/2025; Exercise Price:
$182.50 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/DIPS.
How has the Fund changed?
Effective November 14, 2025, on December 1, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:10.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Short NVDA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short TSLA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short TSLA Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Short TSLA Option Income
Strategy ETF
|
S&P 500® Total Return
Index
|
|
05/01/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
Short TSLA Option Income Strategy ETF - at NAV |
- |
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target as a short strategy, losing –48.24% while the benchmark gained 21.45%, unsuccessfully losing more than the benchmark’s appreciation. The fund did not behave as expected given the strong rally in the underlying.
YieldMax™ Short TSLA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short TSLA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Short TSLA Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Put Options
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Tesla,
Inc., Expiration: 11/21/2025; Exercise Price: $355.02 |
- |
|
Tesla,
Inc., Expiration: 11/07/2025; Exercise Price: $435.00 |
- |
|
Tesla,
Inc., Expiration: 11/07/2025; Exercise Price: $410.00 |
|
|
Tesla,
Inc., Expiration: 11/21/2025; Exercise Price: $355.00 |
|
|
Tesla,
Inc., Expiration: 11/21/2025; Exercise Price: $655.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/CRSH.
How has the Fund changed?
Effective November 14, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:10.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Short TSLA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ SMCI Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ SMCI Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ SMCI Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
09/11/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
SMCI Option Income Strategy ETF - at NAV |
|
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 25% versus 21.45% for the benchmark despite delisting concerns reducing exposure before the stock rallied. This materially limited upside capture. The fund still produced very high income consistent with its aim.
YieldMax™ SMCI Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ SMCI Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ SMCI Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Super
Micro Computer, Inc., Expiration: 11/21/2025; Exercise Price:
$52.00 |
|
|
Super
Micro Computer, Inc., Expiration: 11/21/2025; Exercise Price:
$52.01 |
- |
|
Super
Micro Computer, Inc., Expiration: 11/07/2025; Exercise Price:
$54.00 |
- |
|
Super
Micro Computer, Inc., Expiration: 11/07/2025; Exercise Price:
$58.00 |
|
|
Super
Micro Computer, Inc., Expiration: 11/07/2025; Exercise Price:
$55.00 |
- |
|
Super
Micro Computer, Inc., Expiration: 11/07/2025; Exercise Price:
$59.00 |
|
|
U.S.
Treasury Securities |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/SMCY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ SMCI Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ SNOW Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ SNOW Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ SNOW Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
06/10/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
SNOW Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 93.18% versus 21.45% for the benchmark, with performance in line with expectations given the strategy’s capped upside. The fund generated substantial income and performance.
YieldMax™ SNOW Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ SNOW Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ SNOW Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Snowflake,
Inc., Expiration: 12/19/2025; Exercise Price: $230.00 |
|
|
U.S.
Treasury Securities |
|
|
Snowflake,
Inc., Expiration: 12/19/2025; Exercise Price: $230.01 |
- |
|
Snowflake,
Inc., Expiration: 11/07/2025; Exercise Price: $280.00 |
- |
|
Snowflake,
Inc., Expiration: 11/07/2025; Exercise Price: $277.50 |
- |
|
Snowflake,
Inc., Expiration: 11/07/2025; Exercise Price: $275.00 |
- |
|
Snowflake,
Inc., Expiration: 11/07/2025; Exercise Price: $292.50 |
|
|
Snowflake,
Inc., Expiration: 11/07/2025; Exercise Price: $290.00 |
|
|
Snowflake,
Inc., Expiration: 11/07/2025; Exercise Price: $285.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/SNOY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ SNOW Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ TSLA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ TSLA Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ TSLA Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
11/22/2022
|
|
|
|
11/30/2022
|
|
|
|
12/31/2022
|
|
|
|
01/31/2023
|
|
|
|
02/28/2023
|
|
|
|
03/31/2023
|
|
|
|
04/30/2023
|
|
|
|
05/31/2023
|
|
|
|
06/30/2023
|
|
|
|
07/31/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
TSLA Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 62.26% versus 21.45% for the benchmark, outperforming internal upside-capture expectations. The call overlay balanced Tesla’s volatility with income production. Overall, the strategy delivered on its objectives.
YieldMax™ TSLA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ TSLA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ TSLA Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
|
U.S. Treasury Securities
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Tesla,
Inc., Expiration: 11/21/2025; Exercise Price: $415.00 |
|
|
Tesla,
Inc., Expiration: 11/21/2025; Exercise Price: $420.00 |
|
|
Tesla,
Inc., Expiration: 11/07/2025; Exercise Price: $462.50 |
- |
|
Tesla,
Inc., Expiration: 11/21/2025; Exercise Price: $415.01 |
- |
|
Tesla,
Inc., Expiration: 11/21/2025; Exercise Price: $420.01 |
- |
|
Tesla,
Inc., Expiration: 11/07/2025; Exercise Price: $460.00 |
- |
|
Tesla,
Inc., Expiration: 11/07/2025; Exercise Price: $487.50 |
|
|
Tesla,
Inc., Expiration: 11/07/2025; Exercise Price: $485.00 |
|
|
Tesla,
Inc., Expiration: 11/07/2025; Exercise Price: $467.50 |
- |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/TSLY.
How has the Fund changed?
Effective November 14, 2025, on November 28, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:5.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ TSLA Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ TSM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ TSM Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ TSM Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
08/20/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
TSM Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 44.11% versus 21.45% for the benchmark, aligning with expectations for an income-focused strategy. The fund provided substantial distributions while participating in a significant portion of TSM’s gains. Results were consistent with the strategy’s design.
YieldMax™ TSM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ TSM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ TSM Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Taiwan
Semiconductor Manufacturing Company Ltd., Expiration: 12/19/2025; Exercise
Price: $300.00 |
|
|
Taiwan
Semiconductor Manufacturing Company Ltd., Expiration: 12/19/2025; Exercise
Price: $300.01 |
- |
|
Taiwan
Semiconductor Manufacturing Company Ltd., Expiration: 11/07/2025; Exercise
Price: $305.00 |
- |
|
Taiwan
Semiconductor Manufacturing Company Ltd., Expiration: 11/07/2025; Exercise
Price: $315.00 |
|
|
Taiwan
Semiconductor Manufacturing Company Ltd., Expiration: 11/07/2025; Exercise
Price: $310.00 |
- |
|
Taiwan
Semiconductor Manufacturing Company Ltd., Expiration: 11/07/2025; Exercise
Price: $320.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/TSMY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ TSM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Ultra Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Ultra Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Ultra Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
02/28/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
Ultra Option Income Strategy ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 23.26% versus 21.45% for the benchmark while exceeding internal upside-capture expectations. The diversified option-income structure performed efficiently. Income generation remained a core driver of results.
YieldMax™ Ultra Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Ultra Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Ultra Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Common Stocks
|
|
|
Cash Equivalents
|
|
|
Purchased Put Options
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Put Options
|
- |
|
Written Call Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Rocket
Lab Corp |
|
|
NuScale
Power Corp |
|
|
Robinhood
Markets Inc |
|
|
Coinbase
Global Inc |
|
|
CoreWeave
Inc |
|
|
Rigetti
Computing Inc |
|
|
SoundHound
AI Inc |
|
|
Symbotic
Inc |
|
|
Palantir
Technologies Inc |
|
|
Quantum
Computing Inc |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/ULTY.
How has the Fund changed?
Effective December 8, 2025, there were various updates to the Fund’s Summary Prospectus, Prospectus, and SAI to reflect certain revisions to the Fund’s principal investment strategies (including equity allocation and certain options strategies), to reflect additional risk disclosures, and to reflect changes in the Fund’s portfolio management team.
Effective November 14, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:10.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Ultra Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Ultra Short Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Ultra Short Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Ultra Short Option Income
Strategy ETF
|
S&P 500® Total Return
Index
|
|
08/20/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
Since
Inception ( |
|---|---|
|
YieldMax™
Ultra Short Option Income Strategy ETF - at NAV |
- |
|
S&P
500® TR |
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –15.12% versus 7.19% for the benchmark, influenced by a short track record and evolving stock-selection methodology. These factors created performance variability during the period. Nonetheless, the fund maintained strong income generation.
YieldMax™ Ultra Short Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Ultra Short Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Ultra Short Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
|
Common Stocks
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and other assets in excess of liabilities. Common Stocks represents securities sold short.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Reddit
Inc |
- |
|
AST
SpaceMobile Inc |
- |
|
Nebius
Group NV |
- |
|
Bitdeer
Technologies Group |
- |
|
Advanced
Micro Devices Inc |
- |
|
Circle
Internet Group Inc |
- |
|
IonQ
Inc |
- |
|
Applied
Digital Corp |
- |
|
Kratos
Defense & Security Solutions Inc |
- |
|
Energy
Fuels Inc/Canada |
- |
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/SLTY.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Ultra Short Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ Universe Fund of Option Income ETFs Tailored Shareholder Report
YieldMax™ Universe Fund of Option Income ETFs Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ Universe Fund Of Option
Income ETFs
|
S&P 500® Total Return
Index
|
|
01/16/2024
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
Universe Fund of Option Income ETF - at NAV |
|
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund met its performance target, returning 27.41% versus 21.45% for the benchmark, supported by strong execution across its income-oriented holdings. Internal upside-capture targets were exceeded. The fund demonstrated effective implementation of its diversified option-income approach.
YieldMax™ Universe Fund of Option Income ETFs Tailored Shareholder Report
YieldMax™ Universe Fund of Option Income ETFs Tailored Shareholder Report
YieldMax™ Universe Fund of Option Income ETFs Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Exchange Traded Funds
|
|
|
Cash Equivalents
|
|
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
Yieldmax
Amzn Option Income ETF |
|
|
YieldMax
NVDA Option Income Strategy ETF |
|
|
YieldMax
SNOW Option Income Strategy ETF |
|
|
YieldMaxTM
PLTR Option Income Strategy ETF |
|
|
YieldMax
GOOGL Option Income Strategy ETF |
|
|
Yieldmax
Tsla Option Income ETF |
|
|
YieldMax
JPM Option Income Strategy ETF |
|
|
YieldMax
HOOD Option Income Strategy ETF |
|
|
Yieldmax
RDDT Option Income Strategy ETF |
|
|
YieldMax
DIS Option Income Strategy ETF |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/YMAX.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ Universe Fund of Option Income ETFs Tailored Shareholder Report
YieldMax™ XOM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ XOM Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ XOM Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
08/30/2023
|
|
|
|
08/31/2023
|
|
|
|
09/30/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
XOM Option Income ETF - at NAV |
- |
- |
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –3.95% versus 21.45% for the benchmark as intraday moves forced repurchasing short calls before prices retreated. This reduced net option income and hampered performance. Despite this, the fund maintained meaningful distributions.
YieldMax™ XOM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ XOM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ XOM Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Exxon
Mobil Corporation, Expiration: 12/19/2025; Exercise Price:
$115.01 |
- |
|
Exxon
Mobil Corporation, Expiration: 12/19/2025; Exercise Price:
$115.00 |
|
|
Exxon
Mobil Corporation, Expiration: 11/07/2025; Exercise Price:
$116.00 |
- |
|
Exxon
Mobil Corporation, Expiration: 11/07/2025; Exercise Price:
$117.00 |
- |
|
Exxon
Mobil Corporation, Expiration: 11/07/2025; Exercise Price:
$119.00 |
|
|
Exxon
Mobil Corporation, Expiration: 11/07/2025; Exercise Price:
$120.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/XOMO.
How has the Fund changed?
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ XOM Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ XYZ Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ XYZ Option Income Strategy ETF Tailored Shareholder Report
|
Annual Shareholder Report October 31, 2025 Ticker:
|
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
|
$ |
|
Cumulative Performance
(Initial Investment of $10,000)
|
Date
|
YieldMax™ XYZ Option Income Strategy
ETF
|
S&P 500® Total Return
Index
|
|
10/10/2023
|
|
|
|
10/31/2023
|
|
|
|
11/30/2023
|
|
|
|
12/31/2023
|
|
|
|
01/31/2024
|
|
|
|
02/29/2024
|
|
|
|
03/31/2024
|
|
|
|
04/30/2024
|
|
|
|
05/31/2024
|
|
|
|
06/30/2024
|
|
|
|
07/31/2024
|
|
|
|
08/31/2024
|
|
|
|
09/30/2024
|
|
|
|
10/31/2024
|
|
|
|
11/30/2024
|
|
|
|
12/31/2024
|
|
|
|
01/31/2025
|
|
|
|
02/28/2025
|
|
|
|
03/31/2025
|
|
|
|
04/30/2025
|
|
|
|
05/31/2025
|
|
|
|
06/30/2025
|
|
|
|
07/31/2025
|
|
|
|
08/31/2025
|
|
|
|
09/30/2025
|
|
|
|
10/31/2025
|
|
|
Annual Performance
|
Average
Annual Returns for the Periods Ended October 31, 2025: |
1
Year |
Since
Inception ( |
|---|---|---|
|
YieldMax™
XYZ Option Income Strategy ETF - at NAV |
- |
|
|
S&P
500® TR |
|
|
How did the Fund perform last year and what affected its performance?
The Fund did not meet its performance target, returning –7.96% versus 21.45% for the benchmark amid pronounced whipsawing in the underlying stock. Rapid swings up and down limited the strategy’s ability to track moves effectively. Nonetheless, the fund continued to produce high income.
YieldMax™ XYZ Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ XYZ Option Income Strategy ETF Tailored Shareholder Report
YieldMax™ XYZ Option Income Strategy ETF Tailored Shareholder Report
Key Fund Statistics
(as of October 31, 2025)
|
Fund
Size (Thousands) |
$ |
|
Number
of Holdings |
|
|
Total
Advisory Fee |
$ |
|
Portfolio
Turnover |
|
What did the Fund invest in?
(as of October 31, 2025)
Security Type - Investments
(% of net assets)
|
Sector
|
%
|
|
Cash Equivalents
|
|
|
U.S. Treasury Securities
|
|
|
Purchased Call Options
|
|
Security Type - Other Financial Instruments
(% of net assets)
|
Sector
|
%
|
|
Written Call Options
|
- |
|
Written Put Options
|
- |
Percentages are based on total net assets. Cash Equivalents represents short-term investments and liabilities in excess of other assets.
|
Top
Ten Holdings |
(%
of net assets) |
|---|---|
|
U.S.
Treasury Securities |
|
|
Block,
Inc., Expiration: 11/21/2025; Exercise Price: $75.00 |
|
|
Block,
Inc., Expiration: 11/21/2025; Exercise Price: $75.01 |
- |
|
Block,
Inc., Expiration: 11/07/2025; Exercise Price: $80.00 |
- |
|
Block,
Inc., Expiration: 11/07/2025; Exercise Price: $81.00 |
- |
|
Block,
Inc., Expiration: 11/07/2025; Exercise Price: $85.00 |
|
|
Block,
Inc., Expiration: 11/07/2025; Exercise Price: $84.00 |
|
|
Block,
Inc., Expiration: 11/07/2025; Exercise Price: $86.00 |
|
For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, visit https://www.yieldmaxetfs.com/our-etfs/XYZY.
How has the Fund changed?
Effective November 14, 2025, on November 28, 2025, the Fund will effect a reverse split of its issued and outstanding shares as follows: Reverse Split Ratio: 1:5.
Effective
Householding
Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, please contact your broker-dealer. If you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.
YieldMax™ XYZ Option Income Strategy ETF Tailored Shareholder Report
