ETF Evaluator:
YieldMax S&P 500 0DTE Cov Cll Stgy ETF ()
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(as of Aug 26)
Best Performing in Derivative Income Over the Last Year
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ETF Details
YieldMax S&P 500 0DTE Cov Cll Stgy ETF Overview
YieldMax S&P 500 0DTE Cov Cll Stgy ETF (SDTY) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). YieldMax ETFs launched the ETF in 2025.
The investment seeks current income; the secondary investment objective being capital appreciation.
The fund seeks to achieve its investment objective by employing a synthetic covered call strategy, designed to generate current income on a weekly basis while also providing exposure to the price return of the S&P 500 Index. The fund is non-diversified.
About YieldMax S&P 500 0DTE Cov Cll Stgy ETF (SDTY)
There are 3 members of the management team with an average tenure of 0.95 years: Scott Snyder (2025), Jay Pestrichelli (2025) and Matt Brandt (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
YieldMax S&P 500 0DTE Cov Cll Stgy ETF has 7 securities in its portfolio. The top 10 holdings constitute 178.2% 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 S&P 500 0DTE Cov Cll Stgy ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. YieldMax S&P 500 0DTE Cov Cll Stgy ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 164.4% 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 0.1% (0.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). YieldMax S&P 500 0DTE Cov Cll Stgy ETF has -66.5% of the portfolio in cash.
Assets Under Management
The fund has $46 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.
SDTY 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 S&P 500 0DTE Cov Cll Stgy ETF expense ratio is high compared to funds in the Derivative Income category. YieldMax S&P 500 0DTE Cov Cll Stgy ETF has an expense ratio of 1.08%, which is 30% higher than its category average, making the fund expense ratio grade a F. 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 S&P 500 0DTE Cov Cll Stgy ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, YieldMax S&P 500 0DTE Cov Cll Stgy ETF returned 0.8%, which earned it a grade of B, as the Derivative Income category had an average return of -1.5%. 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 S&P 500 0DTE Cov Cll Stgy ETF has a trailing yield of 14.36%, which is below the 19.96% 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 S&P 500 0DTE Cov Cll Stgy ETF Grades
Year to date, the ETF has returned 8.7%, 6.1 percentage points better than the category, which translates into a grade of B. The fund has returned 17.5% over the past year (grade of C).
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SDTY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SDTY Return (NAV) | 0.8% | 4.6% | 17.5% | na | na | na |
| SDTY Return (Price) | 0.9% | 5.2% | 17.7% | na | na | na |
| NAV +/- Price Return | -0.069% | -0.524% | -0.172% | na | na | na |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| SDTY Grade (NAV) | B | B | C | na | na | na |
| +/- Category (NAV) | 2.3% | 4.0% | 6.3% | na | na | na |
| SDTY Tax-Cost Ratio | na | na | 5.4% | na | na | na |
SDTY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SDTY Return (NAV) | 8.7% | na | na | na | na | na | na | na | na | na | na |
| SDTY Return (Price) | 9.0% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.035% | na | na | na | na | na | na | na | na | na | na |
| Derivative Income Avg | 2.6% | 10.6% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| SDTY Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 6.1% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 14.4% |
| Total Assets: | $ 46 Mil |
| Share Class Assets: | $ 46 Mil |
| Turnover: | na |
| Expense Ratio: | 1.08% |
| Index Fund: | No |
| Index Tracked: | N/A |
| 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: 1.5 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Pestrichelli Jay (2025), Brandt Matt (2025), Snyder Scott (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 7 |
| % in Top 10 Holdings: | 178.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 164.4% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 2.1% |
| Cash: | -66.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | YieldMax ETFs |
| Phone Number: | 866-864-3968 |
| Website: | |
| Inception Date: | February 5, 2025 |
Expenses and Fees
| Expense Ratio (%): | 1.08% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
