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Start your 7-day free trial ARCX · Active · options-income
LFGY
YieldMax Crypto Industry & Tech Portfolio Option Income ETF
Tidal Investments LLC
Verdict
PASS
Weighted score · 2.95 / 5
Fund Identity
What it is, who runs it, where it lives.
The Fund's primary investment objective is to seek current income.
The Fund is an actively managed ETF that constructs a portfolio of 15-30 U.S.-listed equity securities of Crypto Industry and Technology Companies while employing options strategies (primarily covered call spreads) on those securities and/or Crypto Industry and Technology ETFs to generate premium income. The Fund does not invest directly in digital assets or derivatives tracking digital assets. A minor allocation (up to 10%) is maintained in cash or U.S. Treasuries to serve as collateral for the options strategies and to contribute to income generation.
Ticker
LFGY
Issuer
Tidal Investments LLC
Exchange
ARCX
Inception
2025-01-14 · 1.4 yrs
Mgmt style
Active
Replication
Physical equity holdings in crypto industry/tech stocks combined with options strategies (covered call spreads and other options) on individual underlying securities and/or crypto industry ETFs
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered call spreads (primary); may also use other options strategies; sells options on underlying securities to generate premiums on a weekly basis
generates income
Underlying
Individual Crypto Industry and Technology Company stocks and Crypto Industry and Technology ETFs
income exposure
WEEKLY
78.9%
DIST. RATE
65% ROC
Ordinary Income
Ordinary Income
Underlying
Individual Crypto Industry and Technology Company stocks and Crypto Industry and Technology ETFs
Strategy
Covered call spreads (primary); may also use other options strategies; sells options on underlying securities to generate premiums on a weekly basis
Tax
Ordinary Income
The Fund primarily employs covered call spreads — selling a call option while buying another at a higher strike — to generate weekly premium income. Premiums received are a key driver of distributions but may include a significant return of capital component. The Adviser adjusts options strategies based on market conditions and implied volatility, and may use Crypto Industry and Technology ETF options if individual security options are insufficiently liquid.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
JUN '25JUN '26
Flat-NAV reinvestment hurdle
95.2%
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.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
65%
ROC
Return of Capital — destructive65%
Net Investment Income35%
Frequency
Weekly
Dist. rate
78.93%
ROC %
65%
30-day SEC
not reported
Consistency
2 w/o cut
YOC · 1yr-ago buyer
46.7%
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 65.1% of distributions (dollar-weighted across 14 distributions payable 3/19/26–6/18/26). Most recent distribution (6/18/26): 15.2% ROC. Single-week ROC is volatile for option-income funds; the dollar-weighted quarter is the steadier read.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 3 months.
DIST ($/sh)ROC %
Return of capital ($/sh)
Net investment income ($/sh)
Monthly ROC %
Calendar-year ROC (YTD est.)
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-06-17
Ex-dividend
2026-06-17
Pay date
—
Payback Period
1.3 yr
Dist. Since Incep.
$29.5
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
96
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$24.7$22.2$19.6$17.0
OCT '25JUN '26
Price $23.13
50-DMA $22.11
200-DMA $21.13
Recent golden cross (bullish)
Price $23.13 is above the 200-day SMA ($21.13); 50-day SMA $22.11. The 50-day SMA recently crossed above the 200-day — a golden cross, traditionally read as a bullish trend signal. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.
Liquidity
Avg daily volume
67K
Avg dollar volume
$1,564,464
Bid/ask spread
0.39%
Premium/discount
-0.04%
Turnover
114%
Estimated bid/ask spread ~0.77% (wide). Average daily dollar volume ~$1.6M (adequate). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$121M
$194M$120M$45M
JAN '25JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
LFGY · 2026-06-21
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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