Key stats
About YieldMax DKNG Option Income Strategy ETF
Home page
Inception date
Jul 14, 2025
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
ISIN
US88636R3057
DRAY aims to generate monthly income while providing exposure to the price returns of DraftKings Inc. (DKNG) stock, subject to a cap on potential gains. The fund utilizes a synthetic covered call strategy via standardized exchange-traded and FLEX options, which consists of three elements: i) synthetic long exposure, ii) covered call writing, and iii) US Treasurys for collateral. The synthetic long exposure seeks to replicate the price movements of DKNG by purchasing and selling at-the-money calls and puts that have one- to six-month terms. To generate income, the fund writes call options with an expiration of one month or less and a strike price of approximately 0%-15% above DKNG's current share price. This limits participation in potential gains if DKNG shares increase in value. The short put positions fully expose investors to the downside of the stock. Note: the fund does not invest directly in DKNG stocks. Thus, investors are not entitled to any DKNG dividends.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Government
Mutual fund
Cash
Bonds, Cash & Other100.00%
Government40.74%
Mutual fund40.60%
Cash21.85%
Rights & Warrants−3.19%
Stock breakdown by region
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
DRAY last dividends amounted to 1.57 USD. The month before, the issuer paid 2.19 USD in dividends, which shows a 40.21% decrease.
DRAY assets under management is 3.58 M USD. It's risen 38.21% over the last month.
DRAY fund flows account for 3.86 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, DRAY pays dividends to its holders with the dividend yield of 46.87%. The last dividend (Sep 19, 2025) amounted to 1.57 USD. The dividends are paid monthly.
DRAY shares are issued by Toroso Investments Topco LLC under the brand YieldMax. The ETF was launched on Jul 14, 2025, and its management style is Active.
DRAY expense ratio is 0.99% meaning you'd have to pay 0.99% of your investment to help manage the fund.
DRAY follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
DRAY invests in bonds.
DRAY trades at a premium (1.03%) meaning the ETF is trading at a higher price than the calculated NAV.