ETF Evaluator:
YieldMax TSM Option Inc Strat ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Derivative Income Over the Last Year
| 127.0% | YieldMax AMD Option Income Strategy ETF (AMDY) |
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| 91.4% | YieldMax Semiconductor Port Opt Inc ETF (CHPY) |
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| 61.8% | YieldMax GOOGL Option Income Stgy ETF (GOOY) |
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ETF Details
YieldMax TSM Option Inc Strat ETF Overview
YieldMax TSM Option Inc Strat ETF (TSMY) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). YieldMax ETFs launched the ETF in 2024.
The investment seeks current income; the secondary objective being exposure to the share price of the ADR of Taiwan Semiconductor Manufacturing Co Ltd., which is generally subject to a limit on potential investment gains.
Under normal circumstances, the Fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in securities and financial instruments that provide indirect exposure to TSM. The fund is non-diversified.
About YieldMax TSM Option Inc Strat ETF (TSMY)
There are 3 members of the management team with an average tenure of 0.93 years: Scott Snyder (2026), Jay Pestrichelli (2024) 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 TSM Option Inc Strat ETF has 18 securities in its portfolio. The top 10 holdings constitute 132.9% 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 TSM Option Inc Strat ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. YieldMax TSM Option Inc Strat ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -8.3% 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 48.2% (48.2% domestic bond, 0.0% foreign bond and 0.0% convertible bond). YieldMax TSM Option Inc Strat ETF has 54.1% of the portfolio in cash.
Assets Under Management
The fund has $104 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.
TSMY 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 TSM Option Inc Strat ETF expense ratio is high compared to funds in the Derivative Income category. YieldMax TSM Option Inc Strat ETF has an expense ratio of 1.01%, 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 TSM Option Inc Strat ETF has a portfolio turnover rate of 77%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, YieldMax TSM Option Inc Strat ETF returned -12.0%, which earned it a grade of F, 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 TSM Option Inc Strat ETF has a trailing yield of 36.11%, which is above 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 TSM Option Inc Strat ETF Grades
Year to date, the ETF has returned 29.6%, 27.0 percentage points better than the category, which translates into a grade of A. The fund has returned 56.0% over the past year (grade of A).
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TSMY 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 |
|
| TSMY Return (NAV) | -12.0% | 3.0% | 56.0% | na | na | na |
| TSMY Return (Price) | -11.7% | 3.4% | 56.6% | na | na | na |
| NAV +/- Price Return | -0.355% | -0.341% | -0.574% | na | na | na |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| TSMY Grade (NAV) | F | C | A | na | na | na |
| +/- Category (NAV) | -10.5% | 2.4% | 44.8% | na | na | na |
| TSMY Tax-Cost Ratio | na | na | 12.7% | na | na | na |
TSMY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TSMY Return (NAV) | 29.6% | 41.0% | na | na | na | na | na | na | na | na | na |
| TSMY Return (Price) | 30.4% | 40.7% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.029% | -0.007% | 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% |
| TSMY Grade (NAV) | A | A | na | na | na | na | na | na | na | na | na |
| +/- Category | 27.0% | 30.4% | 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: | 36.1% |
| Total Assets: | $ 104 Mil |
| Share Class Assets: | $ 104 Mil |
| Turnover: | 77.0% |
| Expense Ratio: | 1.01% |
| 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: 2.0 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Pestrichelli Jay (2024), Brandt Matt (2026), Snyder Scott (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 18 |
| % in Top 10 Holdings: | 132.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | -8.3% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 48.2% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 6.0% |
| Cash: | 54.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | YieldMax ETFs |
| Phone Number: | 866-864-3968 |
| Website: | |
| Inception Date: | August 20, 2024 |
Expenses and Fees
| Expense Ratio (%): | 1.01% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
