XNAS · Passive · options-income

YieldMax Dorsey Wright Hybrid 5 Income ETF

Tidal Investments LLC

Weighted score · 2.50 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Weekly · 15% ROC

Expense Ratio

0.70% gross

1Y Return

vs underlying

Sharpe

Max DD -32.8%

The Fund seeks to track the performance, before fees and expenses, of the Nasdaq Dorsey Wright Tactical Hybrid Option Income Strategy Index (the "Index")..

FIVY follows a passive management (indexing) approach tracking the Nasdaq Dorsey Wright Tactical Hybrid Option Income Strategy Index, which uses the Dorsey Wright Relative Strength (Point & Figure) methodology to select five high-momentum securities from the YieldMax ETF universe. At each monthly rebalance, the Fund allocates approximately 40% of assets directly to the five highest-ranked Underlying Securities (8% each) and approximately 60% to the five corresponding YieldMax ETFs (12% each). The YieldMax ETFs employ synthetic covered call strategies to generate income, while the direct equity holdings provide uncapped upside exposure. The Fund seeks to make cash distributions on a weekly basis.

The Fund itself does not directly employ options strategies; rather, it gains indirect options exposure through its 60% allocation to YieldMax ETFs, each of which uses a synthetic covered call strategy combining long synthetic exposure (long calls/short puts) with covered call writing or credit call spreads. The remaining 40% direct equity allocation provides uncapped price exposure without options overlays.

NAV HISTORY · JUN '25 – JUN '26

Max DD

Volatility

Sharpe

Sortino

Calmar

Beta

Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.

Composition · Recent Distribution

Tax Treatment — Ordinary Income

ORDINARY INCOME

Distribution Composition (Recent)

ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.

Composition · Narrative

Trailing-quarter return of capital averaged 14.7% of distributions (dollar-weighted across 14 distributions payable 3/12/26–6/11/26). Most recent distribution (6/11/26): 0.0% ROC. Single-week ROC is volatile for option-income funds; the dollar-weighted quarter is the steadier read.

Return of capital ($/sh)

Net investment income ($/sh)

Monthly ROC %

Calendar-year ROC (YTD est.)

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bearish — 50-DMA below 200-DMA

Price $24.55 is below the 200-day SMA ($25.64); 50-day SMA $24.32. The 50-day SMA sits below the 200-day — an established downtrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.

Liquidity

Estimated bid/ask spread ~0.43% (wide). Average daily dollar volume ~$0.2M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.

AUM ($)