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The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Monday, August 19, 2024 YieldMax's Short Option Income Suite Doubles The folks at an Empire State ETF-in-a-box shop and a Sunshine State asset manager are expanding their new active ETF suite that combines shorting with generating income. The YieldMax Short NVDA Option Income Strategy ETF (DIPS on the NYSE Arca) debuted last month, on July 23, and the YieldMax Short N100 Option Income Strategy ETF (YQQQ on the Nasdaq) debuted last week, on August 14. Tidal Investments LLC [profile] serves as investment advisor to both new ETFs, and Zega Financial LLC serves as subadvisor. As of Friday (August 16), DIPS had $3.26 million in AUM, while YQQQ had $2.45 million. They follow the May 1 debut of the YieldMax Short TSLA Option Income Strategy ETF (CRSH), which now has $11.69 million in AUM, and the July 9 debut of the YieldMax Short COIN Option Income Strategy ETF (FIAT), which now has $8.3 million in AUM. Meanwhile, as previously reported, the Zega and Tidal teams are also officially planning at least two more similar ETFs: the YieldMax Short Innovation Option Income Strategy ETF (OARD) and the YieldMax Short AAPL Option Income Strategy ETF (ROTN). All of the YieldMax Short Option Income ETFs (existing and planned) combine shorting a specific investment with generating income through options. For example, the new DIPS ETF shorts Nvidia (NVDA), while the new YQQQ ETF shorts the Nasdaq 100 Index. All of the current and planned YieldMax Short Option Income ETFs use the same, four-person PM team: Mick Brokaw, portfolio manager at Zega; Christopher Mullen, PM at Tidal; Jay Pestrichelli, PM at Zega; and Michael Venuto, chief investment officer at Tidal. The funds are all (or all will be) actively managed, non-diversified ETFs and series of Tidal Trust II, with an expense ratio of 99 basis points. The new and planned ETFs' other service providers include: ACA's Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services LLC (sibling to Tidal Investments) as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant, sub-administrator, and transfer agent; and U.S. Bank National Association as custodian. Printed from: MFWire.com/story.asp?s=67801 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |