Key stats
About YieldMax COIN Option Income Strategy ETF
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Inception date
Aug 15, 2023
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
US88634T8247
CONY aims to generate monthly income while providing exposure to the price returns of Coinbase Global Inc. stock (COIN), 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 COIN 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 COIN's current share price. This limits participation in potential gains if COIN 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 COIN stocks. Thus, investors are not entitled to any COIN dividends.
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Classification
What's in the fund
Exposure type
Government
Stock breakdown by region
Top 10 holdings
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
CONY assets under management is 1.40 B USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
CONY invests in bonds. See more details in our Analysis section.
CONY expense ratio is 1.22%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, CONY isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, CONY pays dividends to its holders with the dividend yield of 159.15%.
CONY shares are issued by Toroso Investments Topco LLC
CONY follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Aug 15, 2023.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.