ETF Evaluator:
YieldMax® Innovation Option Inc Stgy ETF (OARK)
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(as of Jul 31)
Best Performing in Derivative Income Over the Last Year
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ETF Details
YieldMax® Innovation Option Inc Stgy ETF Overview
YieldMax® Innovation Option Inc Stgy ETF (OARK) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). YieldMax ETFs launched the ETF in 2022.
The investment seeks current income; the secondary investment objective is to seek exposure to the share price of the ARK Innovation ETF (“ARKK”), subject to a limit on potential investment gains.
The fund will seek to employ its investment strategy as it relates to the Underlying Security regardless of whether there are periods adverse market, economic, or other conditions and will not seek to take temporary defensive positions during such periods. In seeking to achieve its investment objective, the fund will implement a “synthetic covered call” strategy using the standardized exchange-traded and FLEX options. It is non-diversified.
About YieldMax® Innovation Option Inc Stgy ETF (OARK)
There are 3 members of the management team with an average tenure of 1.43 years: Scott Snyder (2026), Jay Pestrichelli (2022) and Matt Brandt (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. YieldMax® Innovation Option Inc Stgy ETF has 16 securities in its portfolio. The top 10 holdings constitute 114.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
YieldMax® Innovation Option Inc Stgy ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. YieldMax® Innovation Option Inc Stgy ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 5.5% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 7.8% (7.8% domestic bond, 0.0% foreign bond and 0.0% convertible bond). YieldMax® Innovation Option Inc Stgy ETF has 80.0% of the portfolio in cash.
Assets Under Management
The fund has $55 million in total assets, which is below the $727 million average for the Derivative Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
OARK Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The YieldMax® Innovation Option Inc Stgy ETF expense ratio is high compared to funds in the Derivative Income category. YieldMax® Innovation Option Inc Stgy ETF has an expense ratio of 1.00%, which is 21% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. YieldMax® Innovation Option Inc Stgy ETF has a portfolio turnover rate of 115%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Derivative Income category.
Recently, in the month of June 2026, YieldMax® Innovation Option Inc Stgy ETF returned -1.4%, which earned it a grade of D, as the Derivative Income category had an average return of -2.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
YieldMax® Innovation Option Inc Stgy ETF has a trailing yield of 33.64%, which is above the 16.43% category average.
The fund normally distributes its income weekly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
YieldMax® Innovation Option Inc Stgy ETF Grades
Year to date, the ETF has returned 8.0%, 4.0 percentage points better than the category, which translates into a grade of B. The fund has returned 18.9% over the past year (grade of C) and 13.1% over the past three years (grade of C).
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OARK Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| OARK Return (NAV) | -1.4% | 17.0% | 18.9% | 13.1% | na | na |
| OARK Return (Price) | -1.5% | 17.3% | 18.8% | 13.0% | na | na |
| NAV +/- Price Return | 0.111% | -0.232% | 0.136% | 0.088% | na | na |
| Derivative Income Avg | -2.1% | 9.9% | 15.9% | 14.4% | 9.0% | 7.5% |
| OARK Grade (NAV) | D | B | C | C | na | na |
| +/- Category (NAV) | 0.7% | 7.1% | 3.0% | -1.3% | na | na |
| OARK Tax-Cost Ratio | na | na | 10.5% | 12.8% | na | na |
OARK Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OARK Return (NAV) | 8.0% | 20.2% | 8.5% | 20.1% | na | na | na | na | na | na | na |
| OARK Return (Price) | 8.2% | 20.6% | 7.4% | 20.2% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.027% | 0.023% | -0.121% | 0.002% | na | na | na | na | na | na | na |
| Derivative Income Avg | 4.0% | 10.5% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| OARK Grade (NAV) | B | A | F | B | na | na | na | na | na | na | na |
| +/- Category | 4.0% | 9.7% | -10.0% | 2.6% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.66 |
| R-Squared: | 59% |
| Standard Deviation: | 28.2% |
| Category Risk Index: | 2.33 |
| Category Risk Rating: | High |
| Total Risk Index: | 2.32 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 33.6% |
| Total Assets: | $ 56 Mil |
| Share Class Assets: | $ 56 Mil |
| Turnover: | 115.0% |
| Expense Ratio: | 1.00% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Weekly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.6 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Pestrichelli Jay (2022), Brandt Matt (2026), Snyder Scott (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 16 |
| % in Top 10 Holdings: | 114.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 5.5% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 7.8% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 6.8% |
| Cash: | 80.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | YieldMax ETFs |
| Phone Number: | 866-864-3968 |
| Website: | |
| Inception Date: | November 22, 2022 |
Expenses and Fees
| Expense Ratio (%): | 1.00% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
