YieldMax TSM Option Income Strategy ETF
TSMY
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ROIC.AI
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- YieldMax TSM Option Income Strategy ETF (TSMY) is an actively managed exchange-traded fund that seeks current monthly income through a synthetic covered call strategy on the common stock of Taiwan Semiconductor Manufacturing Company Limited (TSM), while providing capped exposure to TSM's share price appreciation; the fund collateralizes its positions with cash and short-term U.S. Treasury securities, employs standardized exchange-traded and FLEX options with one- to six-month durations, sells short call options (or call spreads during anticipated significant price jumps in TSM), and generates synthetic long exposure by simultaneously buying call options and selling put options on TSM. TSMY operates within the derivative income segment of the ETF industry, targeting investors seeking high-yield alternatives with indirect exposure to semiconductor sector volatility via TSM, a leading Taiwan-based chip manufacturer. The fund, part of the broader YieldMax suite of single-issuer option income ETFs issued by Tidal Trust II and advised by Tidal Investments LLC with sub-advisory from ZEGA Financial LLC, trades on NYSE Arca and is domiciled in the United States. Launched on August 20, 2024, TSMY maintains its principal executive operations aligned with Tidal Trust II in Milwaukee, Wisconsin. In October 2025, YieldMax announced a major strategic shift across its single-stock option income ETFs, including TSMY, transitioning from monthly to weekly distributions to meet investor demand for more frequent income, with TSMY falling into Category 2 (distributions declared Wednesdays, ex-date Thursdays, paid Fridays starting October 16, 2025); this change enhances payout flexibility while maintaining the core options strategy. Recent activity includes ongoing high distribution rates (annualized yields exceeding 50% as of late 2025, comprising option income), regular 19a-1 notices detailing distribution compositions (e.g., 100% income in August 2025), and portfolio adjustments amid TSM's performance, with no reported acquisitions, funding rounds, or name changes specific to TSMY.