YieldMax MSTR Short Option Income Strategy ETF
WNTR
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 11755 Wilshire Blvd, Suite 2400 Los Angeles CA United States of America 90025
- IPO Date
- Mar 27, 2025
- Website
- yieldmaxetfs.com
- Similar Companies
- Business
- YieldMax MSTR Short Option Income Strategy ETF (WNTR) is an actively managed exchange-traded fund that seeks current monthly income through a synthetic covered put strategy on MicroStrategy Incorporated (MSTR) common stock while providing indirect short exposure to MSTR's share price, subject to caps on potential gains and full exposure to losses if MSTR appreciates. The fund employs options contracts including the sale of short-term at-the-money put options on MSTR (typically 0%-15% below current share price with one-month expirations) against a synthetic short position created via purchased put and sold call options (three- to six-month terms); U.S. Treasurys as collateral generating additional income; and out-of-the-money call options purchased to cap losses if MSTR rises above specified strike prices. Collateral holdings feature short-term U.S. Treasury bills and notes alongside cash equivalents, with top positions including MSTR January 2026 put options and various Treasury securities; the fund does not invest directly in MSTR shares or entitle shareholders to MSTR dividends. Launched on March 26, 2025, and listed on U.S. exchanges under the Tidal Trust II umbrella, WNTR targets investors seeking inverse MSTR exposure in the technology sector, particularly software and services, with operations focused domestically. YieldMax ETFs, the brand behind WNTR, operates as a suite of specialized option income strategies distributed through Tidal Financial Group (Milwaukee, WI) with sub-advisory from ZEGA Financial, LLC; administrative and custodial services via U.S. Bancorp Fund Services (Milwaukee, WI); and distribution by Foreside Fund Services (Portland, ME). In January 2025, YieldMax fortified its platform through the merger of ZEGA Financial with Tidal Investments LLC, enhancing trading infrastructure, derivatives expertise, and scalability for its growing ETF lineup exceeding 40 funds. The firm expanded in March 2025 with WNTR as its first short option income strategy ETF and its 46th overall product; subsequent developments included a June 2025 UCITS ETF launch (YMAG) in Europe via HANetf partnership, November 2025 introduction of Target 25 ETFs (e.g., MSST on MSTR), and ongoing monthly/weekly distributions announced through December 2025. Headquartered effectively in Milwaukee, WI, YieldMax focuses on high-yield options-based income from single issuers or portfolios, primarily serving U.S. retail and institutional investors without direct geographic diversification beyond domestic listings.