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YieldMax Covered Call

YieldMax Defence Option Income ETF

NATY · ISIN IE000TAA0GK0 · traded in USD, shown in EUR

Simulate this fund Issuer page Key information (KID)
Price
€38.57
$43.26 on the USD line, 8 Oct 2026
Total expense ratio
0.99%
per year
TTM yield (only 10m)
22.6%
10 payments over the last 12 months, divided by today's price
Dividend growth
-9.8%
a year · declining · -9.8% since launch
Distribution recovery
60%
price back above the pre-ex level within 2 trading days, on 10 ex-dates
Pays
Monthly
every month
Launch date
01 Dec 2025
0.9 years
Underlying
n/a
ITA
Domicile
Ireland
Distributing
Fund size (AUM)
$11.2M
Quality Score
32
vs funds of the same type
Stability
41.6%
of distributions needed to offset price erosion
Opportunity Score
43
healthy and discounted
Underlying momentum
Nessun segnale
1/5 signals

Largest positions

The ten largest holdings, 56.2% of the fund between them, as published on 2026-09-27. A fund is only as concentrated as this list suggests.

CRWD US CROWDSTRIKE HOLDINGS INC - A 7.9%
NET US CLOUDFLARE INC - CLASS A 7.8%
OKTA US OKTA INC 7.8%
FTNT US FORTINET INC 6.8%
PLTR US PALANTIR TECHNOLOGIES INC-A 6.4%
MRCY US MERCURY SYSTEMS INC 4.2%
GE US GENERAL ELECTRIC 4.0%
LMT US LOCKHEED MARTIN CORP 3.9%
GD US GENERAL DYNAMICS CORP 3.8%
RKLB US ROCKET LAB CORP 3.5%

Where it trades

The same fund, one ISIN, several tickers: the one you see depends on the exchange your broker uses. Any of them finds this page from the search box in the fund list.

ExchangeTicker
Deutsche Börse Xetra NATY used here
Borsa Italiana NA7Y
London Stock Exchange NATI

Classification

How the fund is described in the open dataset: asset class, region, sector and strategy. Our own category (Covered Call) drives the screeners; these labels add detail.

  • Asset classequity
  • Categoryequity_world
  • Styleincome
  • FocusEquity, World, Covered Call
  • IndexYieldMax Future of Defence Option Income
  • Fund currencyUSD
  • Currency hedgedNo
  • Securities lendingNo
  • Sustainability focusNo
  • KID languagede
  • KID version2025-10-20

Returns with and without distributions

Price return shows the change in the fund's price alone. Total return also counts every distribution, reinvested on its ex-date: the gap between the two is what the fund paid out. In EUR, up to 8 Oct 2026; periods longer than a year also show the yearly rate. For a euro investor these figures include the effect of the euro–dollar exchange rate.

1M3M6MYTD1Y3Y5YSince launch
Price without distributions +3.8% -3.8% -4.2% -8.8% — — — -5.5%
Total return distributions reinvested +5.9% +2.2% +8.4% +9.9% — — — +16.4%

Performance since launch

Value of 100 invested at the first month-end after launch, in EUR.

Total return Price only S&P 500 (total return)
85 94 103 112 121 Dec 2025Feb 2026Apr 2026Jun 2026Aug 2026Oct 2026

Compare with other funds

Add up to five funds to the chart above. Lines are rebased to 100 at the start of the period. Total return counts the distributions; price return is the share price alone, which is what tells you whether the fund is keeping its capital.

€10,000 invested today would pay
€189 a month before tax
At the current yield of 22.6%. Distributions can change at any time; to see the effect of taxes, open the simulator.
€10,000 invested in Dec 2025
€10,854 +8.5%
Shares worth €9,079 today plus €1,775 of total income paid out, before tax — €177 a month over the last 10 months. Try other settings, taxes included

The fund against its underlying

Three lines, all starting at 100 in the underlying's terms: what the fund's price did, what it did with its distributions reinvested, and what the underlying asset itself did. The distance between the total-return line and the underlying is the gap you see in the screeners: +14.2 percentage points. A covered-call fund gives up part of the rise by design, so a gap is expected; its size is what matters.

Total return Price only ITA (underlying)
86 93 101 108 116 Dec 2025Feb 2026Apr 2026Jun 2026Aug 2026Oct 2026

Month by Month

Amount per share by ex-date month, 11 months shown. This fund distributes monthly, every month.

$0.00 $0.31 $0.62 $0.93 $1.24 Dec 25: $1.0621Jan 26: $1.1052Feb 26: $1.035Mar 26: $1.0155Apr 26: $0.9294May 26: $0.9021Jun 26: $0.9729Jul 26: $0.9432Aug 26: $0.9254Sep 26: $0.8981Oct 26: $0 Dec 25Jan 26Feb 26Mar 26Apr 26May 26Jun 26Jul 26Aug 26Sep 26Oct 26

The last distributions, date by date

The ex-date is the one that decides who gets paid: whoever holds the fund when that day opens receives the distribution, and the price opens lower by roughly the same amount. Buying the day before and selling the day after gains nothing — it only moves value from the price to a taxed payment.

Announced Ex-date PaidDays Per share
— 21 Sep 2026 25 Sep 2026 4 0.8981
— 17 Aug 2026 21 Aug 2026 4 0.9254
— 15 Jul 2026 21 Jul 2026 6 0.9432
— 18 Jun 2026 24 Jun 2026 6 0.9729
— 18 May 2026 22 May 2026 4 0.9021
— 16 Apr 2026 22 Apr 2026 6 0.9294
— 19 Mar 2026 25 Mar 2026 6 1.0155
— 16 Feb 2026 20 Feb 2026 4 1.0350

Distributions per year

Per share. Incomplete years (launch year, current year) are shown at their 12-month pace.

$0.00 $3.57 $7.14 $10.71 $14.27 2025: $12.74522026: $10.4722 20252026

Year by year

YearPaidYieldChange
2026 10 of 12 months $8.7268
$10.47 at 12-month pace
 24.2% —
2025 1 of 12 months $1.0621
$12.75 at 12-month pace
 25.6% —

Latest distributions

Amounts per share in USD, as declared by the issuer.

Ex-datePayment datePer share In euro vs previous
2026-09-212026-09-25$0.8981 €0.7896 -3.0%
2026-08-172026-08-21$0.9254 €0.7918 -1.9%
2026-07-152026-07-21$0.9432 €0.8261 -3.1%
2026-06-182026-06-24$0.9729 €0.8550 +7.8%
2026-05-182026-05-22$0.9021 €0.7763 -2.9%
2026-04-162026-04-22$0.9294 €0.7914 -8.5%
2026-03-192026-03-25$1.0155 €0.8743 -1.9%
2026-02-162026-02-20$1.0350 €0.8794 -6.4%
2026-01-262026-01-30$1.1052 €0.9236 +4.1%
2025-12-222025-12-29$1.0621 €0.9022 —

Prices and distributions from the issuer and market data, stored locally and updated every evening. Prices and returns are converted from USD at the daily euro exchange rate; distributions are shown in USD, the currency in which the issuer declares them, with their euro value on the payment date. The €10,000 figures are in euro and before tax: the Portfolio Simulator can apply taxes. Past performance is not a reliable indicator of future results.

Important information. Master of Yield is an independent research tool. All content on this site, including fund data, screeners, scores, model portfolios and backtests, is provided for information and education only. Nothing here is investment, legal, tax or accounting advice, nor a recommendation or solicitation to buy, sell or hold any financial instrument. We are not a broker, a bank or an authorised investment adviser, and we have no knowledge of your personal circumstances. Any investment decision you make is yours alone: consult a qualified adviser before acting.

Our approach. Our model portfolios follow a purely quantitative, rules-based method focused on income. Funds are selected, ranked and rotated by statistical criteria applied mechanically: price erosion since inception, sustainability of distributions, dividend growth, yield and total return. No discretionary judgement or view on individual companies or markets is involved, and the same rules apply to every fund.

About the backtests. Portfolio results are hypothetical simulations run on historical data, not records of real trades or of any real account. Among other simplifications, they assume every fund could be bought and sold at its month-end price with no spread, commission or market impact; they show figures before tax unless you set your own tax profile under "Taxes", where you choose your country and can adjust every rate and the commission your broker charges per trade — those figures are an estimate, not a tax calculation; and they convert every amount to euro at the daily exchange rate. The fund universe only contains products that exist today, so funds that closed in the past are missing, which tends to flatter results. Many funds have short histories, so some results cover only a few years of a largely rising market. Rules may be refined over time and each refinement is applied to the full history, so past results can change. Past or simulated performance does not guarantee future results, and every investment can lose value, including the capital invested.

About the data. Data is collected from publicly available open sources and third-party providers and is not independently verified. No warranty is given as to its accuracy, completeness or timeliness. Always check figures with the fund provider before acting. Fund reference data (expense ratio, fund size, domicile) is completed with the EU ETF Universe dataset by Danimoth, used under the CC BY 4.0 licence: danimoth.com/dataset.

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