YieldMax TSLA Performance & Distribution Target 25 ETF (TEST)

YieldMax TSLA Performance & Distribution Target 25 ETF (TEST) is an exchange-traded fund in the Derivative Income category. It has $4.56M in assets and an expense ratio of 1.01%. The fund is an actively managed exchange-traded fund (“ETF”) the management seeks (i) to generate cash distributions based on a targeted annual cash distribution level of 25%, and (ii) capital appreciation. The fund’s strategy combines (1) synthetic long exposure to the common stock of TSLA (the “Underlying Security”), and (2) the use of options strategies designed to generate premiums. The fund is non-diversified.