YieldMax Dorsey Wright Hybrid 5 Income ETF

Frequently Asked Questions About FIVY

What does FIVY invest in?

The YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY) is an actively managed exchange-traded fund designed to deliver current income by strategically allocating its portfolio. It invests in a dynamic mix of five specific YieldMax option income ETFs and the corresponding common stocks those ETFs track. This selection process is orchestrated by Nasdaq Dorsey Wright, a Registered Investment Adviser recognized for its expertise in technical analysis and momentum-driven investment strategies. Each month, the fund undergoes a rebalancing, wherein five YieldMax ETFs and their underlying securities are precisely chosen based on Nasdaq Dorsey Wright's proprietary momentum rating methodology. The portfolio typically maintains a 60% allocation to the income-generating YieldMax ETFs and a 40% allocation to their respective underlying equities. This structural blend aims to combine the enhanced income potential offered by option-based ETF strategies with the direct market participation provided by equity exposure.

What is the expense ratio of FIVY?

YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY) charges an expense ratio of 0.70%. This is the annual fee deducted from fund assets to cover management and operations.

What is FIVY's distribution yield?

FIVY's trailing-twelve-month yield is —, calculated from the sum of distributions over the past year divided by the current price.

How does FIVY's covered-call strategy work?

FIVY 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 FIVY?

YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY) manages $4.9M 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 FIVY actively managed or an index fund?

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