Key stats
About Tidal ETF Trust II YieldMax META Option Income Strategy ETF
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Inception date
Jul 27, 2023
Structure
Open-Ended Fund
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
FBY aims to generate monthly income while providing exposure to the price returns of Meta Platforms stock (META), 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 META 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 META's current share price. This limits participation in potential gains if META 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 META stocks. Thus, investors are not entitled to any META 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
Bonds, Cash & Other100.00%
Government94.26%
Cash7.13%
Mutual fund2.01%
Rights & Warrants−3.40%
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
FBY top holdings are United States Treasury Bills 0.0% 14-AUG-2025 and United States Treasury Notes 3.875% 15-JAN-2026, occupying 23.38% and 20.88% of the portfolio correspondingly.
FBY last dividends amounted to 0.64 USD. The month before, the issuer paid 0.52 USD in dividends, which shows a 18.10% increase.
FBY assets under management is 159.66 M USD. It's risen 23.93% over the last month.
FBY fund flows account for 112.90 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, FBY pays dividends to its holders with the dividend yield of 45.78%. The last dividend (May 23, 2025) amounted to 0.64 USD. The dividends are paid monthly.
FBY shares are issued by Toroso Investments Topco LLC under the brand YieldMax. The ETF was launched on Jul 27, 2023, and its management style is Active.
FBY expense ratio is 1.06% meaning you'd have to pay 1.06% of your investment to help manage the fund.
FBY follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
FBY invests in bonds.
FBY price has risen by 16.83% over the last month, and its yearly performance shows a −18.91% decrease. See more dynamics on FBY price chart.
NAV returns, another gauge of an ETF dynamics, showed a −12.48% decrease in three-month performance and has increased by 25.06% in a year.
NAV returns, another gauge of an ETF dynamics, showed a −12.48% decrease in three-month performance and has increased by 25.06% in a year.
FBY trades at a premium (0.16%) meaning the ETF is trading at a higher price than the calculated NAV.