XNAS · Active · options-income

YieldMax R2000 0DTE Covered Call Strategy ETF

Tidal Investments LLC

Weighted score · 3.20 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Weekly · 87% ROC

Expense Ratio

1.73% gross

1Y Return

vs underlying

Sharpe

Max DD -17.3%

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

RDTY is an actively managed ETF that employs a synthetic covered call strategy on the Russell 2000 Index, using zero days to expiration (0DTE) options. Each business day the Fund sells out-of-the-money (OTM) call options on the Index (or Index ETFs) expiring that same day to generate options premiums, while simultaneously purchasing deep-in-the-money (ITM) call options to establish synthetic long exposure to the Index. The Fund also invests in short-term U.S. Treasury securities and money market funds to generate income from uninvested cash, and must invest at least 80% of net assets in 0DTE options contracts referencing the Russell 2000 Index.

The Fund sells out-of-the-money 0DTE call options on the Russell 2000 Index daily at market open to collect premiums, while purchasing deep-in-the-money call options on the same index to replicate long exposure. At least 80% of net assets (by notional value) must be invested in 0DTE options referencing the Russell 2000 Index. Options are European-style, cash-settled, exchange-listed contracts (including FLEX Options) cleared through the OCC.

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 — Section 1256 (60/40)

SECTION 1256 (60/40)

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 86.6% of distributions (dollar-weighted across 14 distributions payable 3/26/26–6/25/26). Most recent distribution (6/25/26): 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

Bullish — 50-DMA above 200-DMA

Price $38.73 is above the 200-day SMA ($34.25); 50-day SMA $36.79. The 50-day SMA sits above the 200-day — an established uptrend, 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 ~0.20% (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.

AUM ($)