YieldMax MSTR Short Option Income Strategy ETF

Frequently Asked Questions About WNTR

What does WNTR invest in?

The YieldMax Short MSTR Option Income Strategy ETF (WNTR) is an actively managed exchange-traded fund designed to produce regular weekly income. It achieves this objective by implementing a synthetic covered put options strategy focused on Strategy Inc (MSTR) shares. This sophisticated strategy is structured to collect income from option premiums while simultaneously establishing a bearish (short) position against the price movements of MSTR stock. Risk mitigation is incorporated into the strategy through the acquisition of call options.

What is the expense ratio of WNTR?

YieldMax MSTR Short Option Income Strategy ETF (WNTR) charges an expense ratio of 1.00%. This is the annual fee deducted from fund assets to cover management and operations.

What is WNTR's distribution yield?

WNTR's trailing-twelve-month yield is 157.94%, 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 WNTR's covered-call strategy work?

WNTR 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 WNTR?

YieldMax MSTR Short Option Income Strategy ETF (WNTR) manages $54.6M 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 WNTR actively managed or an index fund?

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