YieldMax DKNG Option Income Strategy ETF

Frequently Asked Questions About DRAY

What does DRAY invest in?

Bearing the symbol DRAY, the YieldMax DKNG Option Income Strategy ETF is an actively managed fund focused on generating consistent weekly income. It accomplishes this by strategically selling call options or call spreads tied to DKNG stock. This method is designed to capture option premiums while simultaneously providing investors with participation in any appreciation of DKNG's share price.

What is the expense ratio of DRAY?

YieldMax DKNG Option Income Strategy ETF (DRAY) charges an expense ratio of 1.03%. This is the annual fee deducted from fund assets to cover management and operations.

What is DRAY's distribution yield?

DRAY's trailing-twelve-month yield is 113.73%, calculated from the sum of distributions over the past year divided by the current price. A rate this high reflects large option-premium distributions against a NAV that has declined over the same period — part of each payout may be return of capital rather than earned income.

How does DRAY's covered-call strategy work?

DRAY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside — when the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

How big is DRAY?

YieldMax DKNG Option Income Strategy ETF (DRAY) manages $3.8M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is DRAY actively managed or an index fund?

DRAY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.