0001924868 2026-09-04 2026-09-04 0001924868 xcsh:S000107532Member 2026-09-04 2026-09-04 0001924868 xcsh:C000278445Member 2026-09-04 2026-09-04 iso4217:USD pure false Tidal Trust II N-1A 0001924868 497 2026-09-04 Supplement to the Summary Prospectus dated August 17, 2026, and Prospectus dated August 10, 2026 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; width: 100%"> </td></tr> </table> Effective immediately, in the Fund Summary section of the Prospectus, the table and text under the “Fees and Expenses of the Fund” and “Example” headings are deleted in their entirety and corrected with the following: 2026-08-10 Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund (“Shares”). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below. <div></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zt27aXAoC8n9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: bottom"> <td id="xdx_985_eoef--OperatingExpensesCaption_c20260904__20260904__dei--LegalEntityAxis__custom--S000107532Member_zl77SdrclvE" style="border-top: black 1pt solid; width: 85%; padding-left: 0.125in; text-align: justify; text-indent: -0.125in">Annual Fund Operating Expenses(1) (expenses that you pay each year as a percentage of the value of your investment)</td> <td style="border-top: black 1pt solid; width: 1%; text-align: justify"> </td> <td id="xdx_498_20260904__20260904__oef--ClassAxis__custom--C000278445Member_zyyTQRtPuV5d" style="border-top: black 1pt solid; width: 14%; text-align: justify"> </td></tr> <tr id="xdx_401_eoef--ManagementFeesOverAssets_dp_zsBYF77Hjdh4" style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify; text-indent: -0.125in">Management Fee </td> <td style="text-align: justify"> </td> <td style="text-align: center">0.23%</td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dp_zVFeAhQznmS6"> <td style="vertical-align: bottom; padding-left: 0.25in; text-align: justify; text-indent: -0.125in">Distribution and/or Service (12b-1) Fees </td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: top; text-align: center">0.00%</td></tr> <tr id="xdx_405_eoef--OtherExpensesOverAssets_dp_znlR5Cuu8D1h"> <td style="vertical-align: bottom; padding-left: 0.25in; text-align: justify; text-indent: -0.125in">Other Expenses(2)</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="vertical-align: top; text-align: center">0.00%</td></tr> <tr id="xdx_408_eoef--ExpensesOverAssets_dp_zzO0K3OXaQJh"> <td style="vertical-align: bottom; padding-left: 0.125in; text-align: justify; text-indent: -0.125in">Total Annual Fund Operating Expenses</td> <td style="vertical-align: bottom; text-align: justify"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: top; text-align: center">0.23%</td></tr> <tr id="xdx_403_eoef--FeeWaiverOrReimbursementOverAssets_dp_z06RbtlGRaXj" style="vertical-align: bottom"> <td style="vertical-align: bottom; padding-left: 0.25in; text-align: justify; text-indent: -0.125in">Less: Fee Waiver(3)</td> <td style="text-align: center"> </td> <td style="text-align: center">(0.05)% </td></tr> <tr id="xdx_402_eoef--NetExpensesOverAssets_dp_zjqAoclSVQvf" style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-align: justify; text-indent: -0.125in">Total Annual Fund Operating Expenses After Fee Waiver(3)</td> <td> </td> <td style="border-bottom: black 2.25pt double; text-align: center">0.18%</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; padding-left: 0.25in; text-align: justify; text-indent: -0.125in"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 40px">(1) </td> <td style="text-align: justify">The Fund’s investment adviser, Tidal Investments LLC (the “Adviser” or “Tidal”), a Tidal Financial Group company, will pay, or require a sub-adviser to pay, all of the Fund’s expenses, except for the following: advisory and sub-advisory fees, interest charges on any borrowings made for investment purposes, dividends and other expenses on securities sold short, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, distribution fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended (the “1940 Act”), litigation expenses, and other non-routine or extraordinary expenses (collectively, “Excluded Expenses”).</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 40px">(2) </td> <td>Based on estimated amounts for the current fiscal year.</td></tr> <tr style="vertical-align: top"> <td>(3) </td> <td style="text-align: justify">The Adviser, has agreed to reduce its unitary management fee (which includes all expenses incurred by the Fund, except for Excluded Expenses, to 0.18% of the Fund’s average daily net assets through at least July 15, 2027 . This agreement may be terminated only by, or with the consent of, the Board of Trustees (the “Board”) of Tidal Trust II, on behalf of the Fund, upon sixty (60) days’ written notice to the Adviser. This Agreement may not be terminated by the Adviser without the consent of the Board. The fee waiver is not subject to recoupment.</td></tr> </table> Annual Fund Operating Expenses(1) (expenses that you pay each year as a percentage of the value of your investment) 0.0023 0.0000 0.0000 0.0023 -0.0005 0.0018 Based on estimated amounts for the current fiscal year. July 15, 2027 Expense Example This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The Example does not take into account brokerage commissions that you may pay on your purchases and sales of Shares. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div></div> <table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zftwbAdKlaq" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 40%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: bottom"> <td id="xdx_485_eoef--ExpenseExampleYear01_zzgo2cN51S3g" style="border-top: black 1pt solid; width: 50%; text-align: center">1 Year</td> <td id="xdx_48B_eoef--ExpenseExampleYear03_zg6LQ5IkNYP1" style="border-top: black 1pt solid; width: 50%; text-align: center">3 Years</td></tr> <tr id="xdx_419_20260904__20260904__oef--ClassAxis__custom--C000278445Member_z0njaLAELMzf" style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; text-align: center">$18</td> <td style="border-bottom: black 1pt solid; text-align: center">$69</td></tr> </table> 18 69 The Fund’s investment adviser, Tidal Investments LLC (the “Adviser” or “Tidal”), a Tidal Financial Group company, will pay, or require a sub-adviser to pay, all of the Fund’s expenses, except for the following: advisory and sub-advisory fees, interest charges on any borrowings made for investment purposes, dividends and other expenses on securities sold short, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, distribution fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended (the “1940 Act”), litigation expenses, and other non-routine or extraordinary expenses (collectively, “Excluded Expenses”). Based on estimated amounts for the current fiscal year. The Adviser, has agreed to reduce its unitary management fee (which includes all expenses incurred by the Fund, except for Excluded Expenses, to 0.18% of the Fund’s average daily net assets through at least July 15, 2027 . This agreement may be terminated only by, or with the consent of, the Board of Trustees (the “Board”) of Tidal Trust II, on behalf of the Fund, upon sixty (60) days’ written notice to the Adviser. This Agreement may not be terminated by the Adviser without the consent of the Board. The fee waiver is not subject to recoupment.