NVIT · Streamfolio

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BATS · Active · options-income

NVIT

YieldMax NVDA Performance & Distribution Target 25 ETF

Tidal Investments LLC

Verdict

WATCH

Weighted score · 3.80 / 5

AUM

$4M

assets under mgmt

Avg Volume

shares · daily

Distribution

13.2%

Weekly · 75% ROC

Expense Ratio

1.08%

1.08% gross

1Y Return

—

vs underlying

Sharpe

0.92

Max DD -12.2%

Fund Identity

What it is, who runs it, where it lives.

The Fund's primary investment objective is to seek current income.

NVIT is an actively managed ETF that seeks to generate weekly cash distributions targeting an annual distribution level of 25% of NAV, while providing synthetic long exposure to NVDA. The Fund creates synthetic NVDA exposure using long call options combined with short put options (or deep in-the-money calls), and separately employs covered call spread strategies to generate option premiums targeting approximately 2.2% per month. The Fund also maintains 50%-100% of assets in cash, money market funds, or U.S. Treasuries to serve as collateral and liquidity.

Ticker

NVIT

Issuer

Tidal Investments LLC

Exchange

BATS

Inception

2025-11-18 · 0.6 yrs

Mgmt style

Active

Replication

Derivatives (options/futures) — synthetic long exposure via long calls + short puts (or deep ITM calls) on NVDA, plus covered call spreads to generate premiums

Index-based

—

Leverage

None

Strategy & Options Mechanics

How the portfolio is built and where the income comes from.

PORTFOLIO

Options

actively managed

OPTIONS OVERLAY

Strategy

Synthetic long (long call + short put or deep ITM call) + Covered Call Spreads (selling call, buying higher-strike call)

generates income

Underlying

NVDA (Nvidia Corporation common stock)

income exposure

WEEKLY

13.2%

DIST. RATE

75% ROC
Ordinary Income

Underlying

NVDA (Nvidia Corporation common stock)

Strategy

Synthetic long (long call + short put or deep ITM call) + Covered Call Spreads (selling call, buying higher-strike call)

Tax

Ordinary Income

The Fund uses long call/short put combinations (or deep in-the-money calls) to replicate approximately 100% synthetic exposure to NVDA. Separately, it writes covered call spreads on a weekly basis targeting net premiums of approximately 2.2% per month to drive distributions. At least 80% of assets are invested in options contracts providing exposure to NVDA.

Performance & NAV

Total return vs. the underlying, with drawdown context.

NAV HISTORY · NOV '25 – JUN '26

NOV '25JUN '26

Max DD

-12.2%

Volatility

29.9%

Sharpe

0.92

Sortino

1.37

Calmar

—

Beta

—

Flat-NAV reinvestment hurdle

0.0%

Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.

1Y vs Underlying

—

Tracking err.

—

Yield on cost

13.5%

Distribution & Tax

Where the yield comes from — and how it’s taxed.

Composition · Recent Distribution

75%

ROC

Return of Capital — constructive75%

Net Investment Income25%

Frequency

Weekly

Dist. rate

13.21%

ROC %

75%

30-day SEC

not reported

Consistency

1 w/o cut

YOC · 1yr-ago buyer

13.5%

Tax Treatment — Ordinary Income

ORDINARY INCOME

Distribution Composition (Recent)

75% Return of Capital

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 75.0% of distributions (dollar-weighted across 12 distributions payable 3/18/26–6/17/26). Most recent distribution (6/17/26): 91.3% ROC. Single-week ROC is volatile for option-income funds; the dollar-weighted quarter is the steadier read.

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

2026-06-16

Ex-dividend

2026-06-16

Pay date

—

Payback Period

7.6 yr

Dist. Since Incep.

$6.6

Holdings & Concentration

Position sizing, top-name weights, and concentration risk.

Sector Mix · Tilt vs S&P 500

No sector feed for this fund.

Holdings

Top-10 Wt.

—

Technical Signal & Liquidity

Moving-average posture and a read on tradability.

Price vs. Moving Averages

No moving-average series.

Price $50.29

50-DMA $—

200-DMA $—

Liquidity

Avg daily volume

Avg dollar volume

$296,016

Bid/ask spread

0.24%

Premium/discount

+0.14%

Turnover

—

Estimated bid/ask spread ~0.22% (moderate). Average daily dollar volume ~$0.3M (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.

Assets Under Management

Trend: Falling. Source: shares×price (Massive, monthly).

AUM ($)

$4M

$12M$7M$1M

NOV '25JUN '26

SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.

NVIT · 2026-06-21
Prepared by denvereyon
Research aid, not investment advice.