YieldMax SMCI Option Income Strategy ETF
SMCY
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ROIC.AI
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- YieldMax SMCI Option Income Strategy ETF (SMCY) is an actively managed exchange-traded fund that seeks current monthly income and capped exposure to the share price performance of Super Micro Computer, Inc. (SMCI) through a synthetic covered call strategy involving the sale/writing of call options on SMCI, collateralized by cash and U.S. Treasurys; purchased out-of-the-money call options to manage potential losses from short exposure if SMCI appreciates significantly; and principal holdings in options contracts based on SMCI's value, including at-the-money purchased calls with expected target maturities. The fund does not invest directly in SMCI shares and subjects investors to full downside risk if SMCI declines, while capping upside participation beyond sold call strike prices; distributions, which may include ordinary income, capital gains, or return of capital, are variable, paid monthly, and not guaranteed, with recent payouts announced weekly for Group 2 ETFs including SMCY as of December 2025. Launched on September 11, 2024, and domiciled in the United States with trading on NYSE Arca, SMCY operates within the derivative income category, targeting investors seeking high yields from single-issuer options strategies in the information technology sector, with assets under management of approximately $204 million, an expense ratio of 0.99%, and management by Tidal Investments LLC as adviser, ZEGA Financial as sub-adviser, and a team including Jay Pestrichelli, Qiao Duan, and Christopher Mullen. The fund benefits from Tidal's headquarters in Milwaukee, Wisconsin, and broader YieldMax ETF platform operations across Chicago, New York, and other U.S. locations, distributed by Foreside Fund Services, LLC. Recent developments include the January 2025 integration of ZEGA Financial and Tidal Investments teams to enhance trading capabilities and support YieldMax's ETF growth; ongoing expansion of the YieldMax family with new funds like the Performance & Distribution Target 25 ETFs in November 2025 and European listings such as NATY and ULTY via partnership with HANetf; and sustained distribution announcements for SMCY alongside peers like MSTY and WNTR through 2025, reflecting rapid assets growth to over $12 billion across the suite.