YieldMax Gold Miners Option Income Strategy ETF (GDXY) is an actively managed exchange-traded fund that seeks to generate current monthly income with capped exposure to the share price returns of the VanEck Gold Miners ETF (GDX) through a synthetic covered call strategy collateralized by cash and U.S. Treasurys; the fund employs both standardized exchange-traded options and FLEX options, holding short call options on GDX alongside purchased out-of-the-money call options for upside participation management, U.S. Treasury bills, Treasury notes, and government obligations funds. GDXY does not directly invest in GDX or its underlying gold miners and bears full downside risk from GDX declines not offset by option premiums. Launched on May 20, 2024, and listed on NYSE Arca, the ETF is issued under Tidal Trust II by Tidal Investments LLC (Milwaukee, Wisconsin) with sub-advisory from ZEGA Financial, managed by a team including Mick Brokaw, Jay Pestrichelli, Qiao Duan, and Charles Ragauss. Primarily targeting income-seeking investors exposed to materials equity via gold mining sector volatility, GDXY operates globally through its indirect GDX linkage, which includes Canadian, Australian, and emerging market miners. In January 2025, Tidal Investments integrated ZEGA Financial's trading team and derivatives expertise via acquisition, enhancing portfolio management and options execution capabilities across the YieldMax ETF suite without altering GDXY operations or prospectuses. The fund maintains a net expense ratio of 1.08% and continues frequent distributions, including a $0.1813 weekly dividend declared on December 17, 2025, amid ongoing monthly income payouts often comprising option income, capital returns, and yields exceeding 49% annualized.