A subadvised fund family expanded by one last week, with nearly dozen more funds planned to follow.

Last Thursday (August 8), the YieldMax team unveiled the launch of the YieldMax BABA Option Income Strategy ETF (BABO). They also filed to create 11 more option income strategy ETFs: the YieldMax CVNA Option Income Strategy ETF (CVNY), the YieldMax DKNG Option Income Strategy ETF (DRAY), the YieldMax HOOD Option Income Strategy ETF (HOOY), the YieldMax JD Option Income Strategy ETF (JDY), the YieldMax MARA Option Income Strategy ETF (MARO), the YieldMax PDD Option Income Strategy ETF (PDDY), the YieldMax PLTR Option Income Strategy ETF (PLTY), the YieldMax RBLX Option Income Strategy ETF (RBLY), the YieldMax SHOP Option Income Strategy ETF (SHOY), the YieldMax SMCI Option Income Strategy ETF (MSCY), and the YieldMax TSM Option Income Strategy ETF (TSMY).

BABO is listed on the NYSE Arca, and all the other other ETFs are expected to do so, too. They are series of Tidal Trust II.

All of the ETFs will come with the same expense ratio, 99 basis points. BABO's inception date was last Wednesday (August 7), and on Friday it had $2.55 million in AUM.

Tidal Investments, LLC serves as investment advisor to BABO, and will do for the planned ETFs, too. Zega Financial, LLC is the ETFs' subadvisor. The PM team includes: Qiao Duan, portfolio manager at Tidal; Christopher Mullen, PM at Tidal; and Jay Pestrichelli, PM at Zega.

Each of these dozen ETFs are designed to generate income while providing exposure to one particular stock each, via a synthetic covered call strategy. BABO focuses on Alibaba Group Holding Limited (BABA), CVNY on Carvana Co. (CNVA), DRAY on DraftKings Inc. (DKNG), HOOY on Robinhood Markets, Inc. (HOOD), JDY on JD.com (JD), MARO on Marathon Digital Holdings Inc. (MARA), PDDY on PDD Holdings, Inc. (PDD), PLTYon Palantir Technologies Inc. (PLTR), RBLY on Roblox Corporation (RBLX), SHOY on Shopify Inc. (SHOP), SMCY on Super Micro Computer Inc. (SMCI), and TSMY on Taiwan Semiconductor Manufacturing Co Ltd. (TSM).

The 12 ETFs' other service providers include: Cohen & Company, Ltd. as independent accounting; ACA's Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services LLC as administrator; U.S. Bancorp Funds, LLC (dba U.S. Bank Global Fund Services) as fund accountant, sub-administrator, and transfer agent; and U.S. Bank National Association as custodian. 

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