YieldMax AMZN Option Income Strategy ETF (NYSE Arca: AMZY) is an actively managed exchange-traded fund that seeks current monthly income and capped exposure to the share price of Amazon.com, Inc. (AMZN) through a synthetic covered call strategy; the fund does not invest directly in AMZN stock but instead uses a combination of long call options and short put options to create synthetic long exposure to approximately 100% of AMZN, sells or writes call options on that position to generate premium income, and holds collateral in cash and U.S. Treasuries that also produce yield. AMZY targets investors seeking high monthly distributions from options premiums while providing limited participation in AMZN price appreciation, with full exposure to any declines in AMZN's value. The fund operates within the consumer discretionary sector, focusing on internet and direct marketing retail risks associated with AMZN.
Launched on July 24, 2023, AMZY is issued under Tidal Trust II by Tidal Investments LLC, with sub-adviser ZEGA Financial, and is headquartered in Milwaukee, Wisconsin.
Recent developments for YieldMax ETFs, the brand under which AMZY operates, include the November 2025 launch of the Performance & Distribution Target 25 ETF family, featuring products like MSST and NVDA-focused funds aiming for 25% annualized distributions via similar options strategies on synthetic long positions; partnerships with HANetf for European UCITS ETFs such as YMAG (Big Tech Option Income) in March 2025 and MSTY (MSTR Option Income ETC) in June 2025; and ongoing monthly or weekly distribution announcements, including a December 2025 weekly payout for AMZY and peer funds. These expansions reflect YieldMax's strategic shift toward diversified option income products across U.S. and international markets, with over 40 ETFs managing billions in assets.