YieldMax™ Launches Short COIN Option Income Strategy ETF (FIAT)

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CHICAGO, MILWAUKEE and NEW YORK, July 10, 2024 (GLOBE NEWSWIRE) -- YieldMax™ announced the launch today of the following ETF:

FIAT Overview

FIAT is an actively managed ETF that seeks to generate current income from a synthetic covered put strategy on Coinbase Global, Inc. (“COIN”), while providing indirect short (inverse) exposure to the share price of COIN. FIAT’s potential for gains from decreases in the share price of COIN is limited, while its potential for losses resulting from increases in the share price of COIN is up to 100%. FIAT does not invest directly in COIN and does not directly short COIN. Investors seeking direct exposure to the price of COIN should consider an investment other than this Fund.

FIAT Portfolio Construction

FIAT’s synthetic covered put strategy consists of the following four elements:

  • Synthetic short exposure to COIN, consisting of a long at-the-money put option and a short at-the-money call option, which allows FIAT to seek to participate on an inverse, unleveraged basis in changes, up or down, to the share price of COIN;

  • Covered put writing (where COIN put options are sold against the synthetic short portion of the strategy), which allows FIAT to generate income;

  • U.S. Treasuries, which are used for collateral for the options, and which also generate income; and

  • Out-of-the money (“OTM”) call options, which are purchased to seek to cap FIAT’s potential losses from its short exposure to COIN if COIN’s share price appreciates significantly in value.

The loss capping works only if the COIN share price rises to or above the strike price of the purchased OTM call options. If the COIN share price increases but stays below the strike price of these options, FIAT will incur losses proportionate to this price increase, which may be up to 100% of your investment.

Why Invest in FIAT?

  • FIAT seeks to generate current income, which is not dependent on the price depreciation of COIN.

  • FIAT seeks to benefit when the COIN share price decreases, however FIAT’s potential corresponding benefit from decreases in the COIN share price is limited.

  • FIAT’s short exposure to COIN is not leveraged so does not result in daily resetting.

FIAT is the newest member of the growing YieldMax™ ETF family and, like all YieldMax™ ETFs, aims to deliver current income to investors. Please see table below for distribution and yield information for all outstanding YieldMax™ ETFs. Note: FIAT and CRSH are hereinafter referred to as the “Short ETFs”.

Please note that distributions may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time, and may have additional tax implications.

ETF Ticker1

ETF Name

Reference Asset

Distribution Rate2,4

30-Day SEC Yield3

TSLY

YieldMax™ TSLA Option Income Strategy ETF

TSLA

69.94%

3.89%

OARK

YieldMax™ Innovation Option Income Strategy ETF

ARKK

27.35%

4.32%

APLY

YieldMax™ AAPL Option Income Strategy ETF

AAPL

20.93%

3.93%

NVDY

YieldMax™ NVDA Option Income Strategy ETF

NVDA

103.77%

4.08%

AMZY

YieldMax™ AMZN Option Income Strategy ETF

AMZN

41.61%

4.18%

FBY

YieldMax™ META Option Income Strategy ETF

META

43.42%

4.18%

GOOY

YieldMax™ GOOGL Option Income Strategy ETF

GOOGL

31.13%

4.02%

NFLY

YieldMax™ NFLX Option Income Strategy ETF

NFLX

25.90%

4.19%

CONY

YieldMax™ COIN Option Income Strategy ETF

COIN

98.98%

4.89%

MSFO

YieldMax™ MSFT Option Income Strategy ETF

MSFT

21.19%

4.13%

DISO

YieldMax™ DIS Option Income Strategy ETF

DIS

25.37%

4.42%

XOMO

YieldMax™ XOM Option Income Strategy ETF

XOM

13.71%

4.23%

JPMO

YieldMax™ JPM Option Income Strategy ETF

JPM

13.47%

4.17%

AMDY

YieldMax™ AMD Option Income Strategy ETF

AMD

50.45%

4.19%

PYPY

YieldMax™ PYPL Option Income Strategy ETF

PYPL

32.85%

4.87%

SQY

YieldMax™ SQ Option Income Strategy ETF

SQ

43.94%

4.60%

MRNY

YieldMax™ MRNA Option Income Strategy ETF

MRNA

39.71%

5.32%

AIYY

YieldMax™ AI Option Income Strategy ETF

AI

41.11%

4.76%

MSTY

YieldMax™ MSTR Option Income Strategy ETF

MSTR

111.68%

0.00%

YBIT

YieldMax™ Bitcoin Option Income Strategy ETF

Bitcoin ETP

95.12%

4.15%

CRSH

YieldMax™ Short TSLA Option Income Strategy ETF

TSLA

75.51%

4.29%

GDXY

YieldMax™ Gold Miners Option Income Strategy ETF

GDX®

50.94%

4.41%

SNOY*

YieldMax™ SNOW Option Income Strategy ETF

SNOW

-

-

ABNY*

YieldMax™ ABNB Option Income Strategy ETF

ABNB

-

-

YMAX

YieldMax™ Universe Fund of Option Income ETFs

Multiple

44.04%

62.89%

YMAG

YieldMax™ Magnificent 7 Fund of Option Income ETFs

Multiple

37.51%

46.89%

ULTY

YieldMax™ Ultra Option Income Strategy ETF

Multiple

98.46%

0.00%


The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.

Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from month to month and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

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