What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
AI & Tech Portfolio Option Income ETF |
$115 |
1.02%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
During the reporting period, GPTY generated positive total returns while providing shareholders with regular income distributions. The Fund generated income through option premium received from its call spread strategy while maintaining exposure to a portfolio of AI and technology-related equity securities.
What Factors Influenced Performance?
Performance was influenced by the returns of the Fund's underlying portfolio, which included companies operating in areas such as semiconductors, software, cloud computing, and digital infrastructure. In addition, the Fund generated option premium income through the sale of call spreads on its holdings.
The level of implied volatility across the portfolio affected the amount of option premium available for sale.
Positioning of the Fund
The Fund remains invested in a portfolio of AI and technology-related companies and continues to employ its option strategy to generate income. The Fund seeks to provide current income while maintaining exposure to the long-term performance of its underlying equity holdings.
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (1/22/25) |
|---|---|---|
|
Yieldmax™
AI & Tech Portfolio Option Income ETF - at NAV |
26.39% |
24.55% |
|
S&P
500® Total Return Index |
19.56% |
16.04% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$101,782 |
|
Number
of Holdings |
81 |
|
Total
Advisory Fee Paid |
$801,717 |
|
Portfolio
Turnover |
29% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
| * | Amount does not round to 0.1% or -0.1%. |
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
NVIDIA
Corp. |
|
|
Snowflake,
Inc. - Class A |
|
|
Alphabet,
Inc. - Class A |
|
|
Amazon.com,
Inc. |
|
|
Microsoft
Corp. |
|
|
Apple,
Inc. |
|
|
International
Business Machines Corp. |
|
|
Advanced
Micro Devices, Inc. |
|
|
Broadcom,
Inc. |
|
|
Hut
8 Corp. |
Fund Changes
Effective October 14, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a weekly basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
CRCL Option Income Strategy ETF |
$83* |
1.30%** |
| * | The Fund commenced operations on September 29, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (9/29/25) |
|---|---|
|
Yieldmax™
CRCL Option Income Strategy ETF - at NAV |
-45.65%* |
|
S&P
500® Total Return Index |
13.54% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$18,016 |
|
Number
of Holdings |
10 |
|
Total
Advisory Fee Paid |
$221,142 |
|
Portfolio
Turnover |
0% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
U.S.
Treasury Bills |
|
|
Circle
Internet Group, Inc.,
Expiration:
9/18/2026; Exercise Price: $65.01 |
|
|
Circle
Internet Group, Inc.,
Expiration:
9/18/2026; Exercise Price: $65.01 |
|
|
Circle
Internet Group, Inc.,
Expiration:
8/7/2026; Exercise Price: $61.00 |
|
|
Circle
Internet Group, Inc.,
Expiration:
8/7/2026; Exercise Price: $60.00 |
|
|
Circle
Internet Group, Inc.,
Expiration:
8/7/2026; Exercise Price: $64.00 |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
Circle
Internet Group, Inc.,
Expiration:
8/7/2026; Exercise Price: $63.00 |
Fund Changes
Effective September 29, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a weekly basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
Crypto Industry & Tech Portfolio Option Income ETF |
$142 |
1.47%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (1/13/25) |
|---|---|---|
|
Yieldmax™
Crypto Industry & Tech Portfolio Option Income ETF - at NAV |
-5.45% |
0.33% |
|
S&P
500® Total Return Index |
19.56% |
18.97% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$91,274 |
|
Number
of Holdings |
86 |
|
Total
Advisory Fee Paid |
$1,456,353 |
|
Portfolio
Turnover |
56% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
Block,
Inc. - Class A |
|
|
PayPal
Holdings, Inc. |
|
|
Opera
Ltd., ADR |
|
|
Cipher
Digital, Inc. |
|
|
NVIDIA
Corp. |
|
|
Hut
8 Corp. |
|
|
Riot
Platforms, Inc. |
|
|
Core
Scientific, Inc. |
|
|
MercadoLibre,
Inc. |
Fund Changes
Effective October 14, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a weekly basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
GME Option Income Strategy ETF |
$86* |
1.03%** |
| * | The Fund commenced operations on September 8, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a negative total return as declines in GameStop Corp. (“GME”) outweighed income generated by its call spread strategy. The Fund also provided shareholders with regular income distributions.
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (9/8/25) |
|---|---|
|
Yieldmax™
GME Option Income Strategy ETF - at NAV |
-12.94%* |
|
S&P
500® Total Return Index |
16.50% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$2,738 |
|
Number
of Holdings |
9 |
|
Total
Advisory Fee Paid |
$86,135 |
|
Portfolio
Turnover |
0% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments and other assets in excess of liabilities.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
U.S.
Treasury Bills |
|
|
GameStop
Corp., Expiration: 8/21/2026; Exercise Price: $22.01 |
|
|
GameStop
Corp., Expiration: 8/21/2026; Exercise Price: $22.01 |
|
|
GameStop
Corp., Expiration: 8/7/2026; Exercise Price: $21.50 |
|
|
GameStop
Corp., Expiration: 8/7/2026; Exercise Price: $22.00 |
|
|
GameStop
Corp., Expiration: 8/7/2026; Exercise Price: $23.00 |
|
|
GameStop
Corp., Expiration: 8/7/2026; Exercise Price: $22.50 |
Fund Changes
Effective September 18, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a monthly or more frequent basis.
Effective October 14, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a weekly basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
HIMS Option Income Strategy ETF |
$121* |
1.89%** |
| * | The Fund commenced operations on September 22, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a negative total return as declines in Hims & Hers Health, Inc. (“HIMS”) outweighed income generated by its call spread strategy. The Fund also provided shareholders with regular income distributions.
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (9/22/25) |
|---|---|
|
Yieldmax™
HIMS Option Income Strategy ETF - at NAV |
-48.42%* |
|
S&P
500® Total Return Index |
12.99% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$13,387 |
|
Number
of Holdings |
12 |
|
Total
Advisory Fee Paid |
$139,333 |
|
Portfolio
Turnover |
0% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
U.S.
Treasury Bills |
|
|
Hims
& Hers Health, Inc., Expiration: 9/18/2026; Exercise Price: $27.01 |
|
|
Hims
& Hers Health, Inc., Expiration: 9/18/2026; Exercise Price: $27.01 |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
Hims
& Hers Health, Inc., Expiration: 8/7/2026; Exercise Price: $26.50 |
|
|
Hims
& Hers Health, Inc., Expiration: 8/7/2026; Exercise Price: $27.50 |
|
|
Hims
& Hers Health, Inc., Expiration: 8/7/2026; Exercise Price: $27.00 |
|
|
Hims
& Hers Health, Inc., Expiration: 8/7/2026; Exercise Price: $29.50 |
|
|
Hims
& Hers Health, Inc., Expiration: 8/7/2026; Exercise Price: $28.50 |
Fund Changes
Effective September 18, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a monthly or more frequent basis.
Effective October 14, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a weekly basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
MSTR Performance & Distribution Target 25 ETF |
$54* |
1.02%** |
| * | The Fund commenced operations on November 17, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (11/17/2025) |
|---|---|
|
Yieldmax™
MSTR Performance & Distribution Target 25 ETF - at NAV |
-47.72%* |
|
S&P
500® Total Return Index |
13.17% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$1,103 |
|
Number
of Holdings |
7 |
|
Total
Advisory Fee Paid |
$20,885 |
|
Portfolio
Turnover |
0% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
U.S.
Treasury Bills |
|
|
Strategy,
Inc., Expiration: 9/18/2026;
Exercise
Price: $100.01 |
|
|
Strategy,
Inc., Expiration: 9/18/2026;
Exercise
Price: $100.01 |
|
|
Strategy,
Inc., Expiration: 8/21/2026;
Exercise
Price: $105.00 |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
Strategy,
Inc., Expiration: 8/21/2026;
Exercise
Price: $115.00 |
Fund Changes
Effective November 12, 2025 the Fund's listing exchange was changed to Cboe BZX Exchange, Inc.
Effective November 14, 2025 the Fund's ticker symbol was changed to MSST.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
MSTR Short Option Income Strategy ETF |
$156 |
1.00%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (3/26/25) |
|---|---|---|
|
Yieldmax™
MSTR Short Option Income ETF - at NAV |
113.92% |
48.93% |
|
S&P
500® Total Return Index |
19.56% |
23.74% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$83,918 |
|
Number
of Holdings |
21 |
|
Total
Advisory Fee Paid |
$644,158 |
|
Portfolio
Turnover |
123% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments and other assets in excess of liabilities.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
U.S.
Treasury Bills |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
Strategy,
Inc., Expiration: 8/21/2026;
Exercise
Price: $95.02 |
|
|
Strategy,
Inc., Expiration: 8/21/2026;
Exercise
Price: $95.02 |
|
|
Strategy,
Inc., Expiration: 9/18/2026;
Exercise
Price: $100.02 |
|
|
Strategy,
Inc., Expiration: 9/18/2026;
Exercise
Price: $100.02 |
|
|
Strategy,
Inc., Expiration 8/7/2026;
Exercise
Price: $88.00 |
|
|
Strategy,
Inc., Expiration 8/7/2026;
Exercise
Price: $90.00 |
|
|
Strategy,
Inc., Expiration 8/7/2026;
Exercise
Price: $94.00 |
|
|
Strategy,
Inc., Expiration 8/7/2026;
Exercise
Price: $91.00 |
Fund Changes
Effective September 18, 2025 the Fund intends to pay out dividends and interest income, if any, at least monthly, and distribute any net realized capital gains to its shareholders at least annually.
Effective October 14, 2025 the Fund's payment of income distributions were changed to seek to make such distributions on a weekly basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
Nasdaq 100 0DTE Covered Call Strategy ETF |
$120 |
1.09%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a positive total return as gains in the Nasdaq-100 Index and income generated by its options strategy contributed to performance. The Fund also provided shareholders with regular income distributions.
What Factors Influenced Performance?
Positioning of the Fund
The Fund continued to employ a synthetic covered call strategy designed to generate current income while maintaining exposure to the Nasdaq-100 Index. The Fund sold 0DTE call options daily and starting in mid-September of 2025, began distributing income weekly.
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (2/12/25) |
|---|---|---|
|
Yieldmax™
Nasdaq 100 0DTE Covered Call Strategy ETF - at NAV |
20.51% |
15.40% |
|
S&P
500® Total Return Index |
19.56% |
17.13% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$24,324 |
|
Number
of Holdings |
4 |
|
Total
Advisory Fee Paid |
$215,443 |
|
Portfolio
Turnover |
20% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments and other assets in excess of liabilities.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
Nasdaq-100
Index, Expiration: 12/18/2026; Exercise Price: $1,001.26 |
|
|
Nasdaq-100
Micro Index, Expiration: 12/18/2026; Exercise Price: $10.02 |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
U.S.
Treasury Bills |
Fund Changes
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
NVDA Performance & Distribution Target 25 ETF |
$74* |
0.99%** |
| * | The Fund commenced operations on November 17, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a positive total return as appreciation in NVIDIA Corporation (“NVDA”) and income generated by its options strategies contributed to performance. The Fund also made regular distributions.
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (11/17/25) |
|---|---|
|
Yieldmax™
NVDA Performance & Distribution Target 25 ETF - at NAV |
13.68%* |
|
S&P
500® Total Return Index |
13.17% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$10,817 |
|
Number
of Holdings |
10 |
|
Total
Advisory Fee Paid |
$39,517 |
|
Portfolio
Turnover |
0% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments and other assets in excess of liabilities.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
U.S.
Treasury Bills |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
NVIDIA
Corp., Expiration: 9/18/2026;
Exercise
Price: $200.01 |
|
|
NVIDIA
Corp., Expiration: 9/18/2026;
Exercise
Price: $200.01 |
|
|
NVIDIA
Corp., Expiration: 8/21/2026;
Exercise
Price: $210.00 |
|
|
NVIDIA
Corp., Expiration: 8/21/2026;
Exercise
Price: $225.00 |
Fund Changes
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
R2000 0DTE Covered Call Strategy ETF |
$139 |
1.24%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a positive total return as gains in the Russell 2000 Index and income generated by its options strategy contributed to performance. The Fund also provided shareholders with regular income distributions.
What Factors Influenced Performance?
Performance was primarily influenced by movements in the Russell 2000 Index and index volatility. Index gains and premiums from daily zero-days-to-expiration (“0DTE”) call options contributed positively to results.
Positioning of the Fund
The Fund continued to employ a synthetic covered call strategy designed to generate current income while maintaining exposure to the Russell 2000 Index. The Fund sold 0DTE call options daily and, starting in mid-September 2025, began distributing income weekly.
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception
(3/5/25) |
|---|---|---|
|
Yieldmax™
R2000 0DTE Covered
Call
Strategy ETF - at NAV |
25.22% |
20.38% |
|
S&P
500® Total Return Index |
19.56% |
20.80% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$30,921 |
|
Number
of Holdings |
3 |
|
Total
Advisory Fee Paid |
$138,067 |
|
Portfolio
Turnover |
3% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments and other assets in excess of liabilities.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
Russell
2000 Index, Expiration: 12/18/2026; Exercise Price: $310.26 |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
U.S.
Treasury Bills |
Fund Changes
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
RDDT Option Income Strategy ETF |
$74* |
1.02%** |
| * | The Fund commenced operations on September 8, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a negative total return as declines in Reddit, Inc. (“RDDT”) outweighed income generated by its call spread strategy. The Fund also provided shareholders with regular income distributions.
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (9/8/25) |
|---|---|
|
Yieldmax™
RDDT Option Income Strategy ETF - at NAV |
-36.84%* |
|
S&P
500® Total Return Index |
16.50% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$12,589 |
|
Number
of Holdings |
12 |
|
Total
Advisory Fee Paid |
$169,267 |
|
Portfolio
Turnover |
0% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
U.S.
Treasury Bills |
|
|
Reddit,
Inc., Expiration: 9/18/2026;
Exercise
Price: $140.01 |
|
|
Reddit,
Inc., Expiration: 9/18/2026;
Exercise
Price: $140.01 |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
Reddit,
Inc., Expiration: 8/7/2026;
Exercise
Price: $144.00 |
|
|
Reddit,
Inc., Expiration: 8/7/2026;
Exercise
Price: $140.00 |
|
|
Reddit,
Inc., Expiration: 8/7/2026;
Exercise
Price: $152.50 |
|
|
Reddit,
Inc., Expiration: 8/7/2026;
Exercise
Price: $147.00 |
Fund Changes
Effective September 18, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a monthly or more frequent basis.
Effective October 14, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a weekly basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
S&P 500 0DTE Covered Call Strategy ETF |
$110 |
1.02%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a positive total return as gains in the S&P 500 Index and income generated by its options strategy contributed to performance. The Fund also provided shareholders with regular income distributions.
What Factors Influenced Performance?
Positioning of the Fund
The Fund continued to employ a synthetic covered call strategy designed to generate current income while maintaining exposure to the S&P 500 Index. The Fund sold 0DTE call options daily and beginning in mid-September 2025, started distributing income weekly.
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (2/5/25) |
|---|---|---|
|
Yieldmax™
S&P 500 0DTE Covered Call Strategy ETF - at NAV |
17.56% |
13.23% |
|
S&P
500® Total Return Index |
19.56% |
16.79% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$46,284 |
|
Number
of Holdings |
5 |
|
Total
Advisory Fee Paid |
$213,011 |
|
Portfolio
Turnover |
0%* |
| * | Does not round to 1%. |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments and other assets in excess of liabilities.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
S&P
500 Index, Expiration: 12/18/2026; Exercise Price: $1,200.26 |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
U.S.
Treasury Bills |
Fund Changes
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
Semiconductor Portfolio Option Income ETF |
$144 |
0.99%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
During the reporting period, CHPY generated a positive total return, driven by strong gains across its semiconductor holdings, while providing shareholders with substantial income distributions, which started being paid out weekly in mid-October 2025.
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (4/2/25) |
|---|---|---|
|
Yieldmax™
Semiconductor Portfolio Option Income ETF - at NAV |
91.24% |
87.47% |
|
S&P
500® Total Return Index |
19.56% |
24.78% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$1,023,356 |
|
Number
of Holdings |
89 |
|
Total
Advisory Fee Paid |
$4,131,039 |
|
Portfolio
Turnover |
38% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net
Assets) |
|---|---|
|
NVIDIA
Corp. |
|
|
Broadcom,
Inc. |
|
|
Advanced
Micro Devices, Inc. |
|
|
Lam
Research Corp. |
|
|
Marvell
Technology, Inc. |
|
|
Intel
Corp. |
|
|
Astera
Labs, Inc. |
|
|
Micron
Technology, Inc. |
|
|
ASML
Holding NV |
|
|
United
Microelectronics Corp., ADR |
Fund Changes
Effective October 14, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a weekly basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
SPCX Option Income Strategy ETF |
$4* |
0.99%** |
| * | The Fund commenced operations on July 14, 2026. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a negative total return as declines in Space Exploration Technologies Corp. (“SPCX”) outweighed income generated by its call spread strategy. The Fund also made an income distribution.
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (7/14/26) |
|---|---|
|
Yieldmax™
SPCX Option Income Strategy ETF - at NAV |
-16.75%* |
|
S&P
500® Total Return Index |
-0.68% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$2,060 |
|
Number
of Holdings |
8 |
|
Total
Advisory Fee Paid |
$491 |
|
Portfolio
Turnover |
0% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
U.S.
Treasury Bills |
|
|
Space
Exploration Technologies Corp.,
Expiration:
8/14/2026; Exercise Price: $114.01 |
|
|
Space
Exploration Technologies Corp.,
Expiration:
8/14/2026; Exercise Price: $114.01 |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
Space
Exploration Technologies Corp.,
Expiration:
8/7/2026; Exercise Price: $110.00 |
|
|
Space
Exploration Technologies Corp.,
Expiration:
8/7/2026; Exercise Price: $115.00 |
|
|
Space
Exploration Technologies Corp.,
Expiration:
8/7/2026; Exercise Price: $120.00 |
|
|
Space
Exploration Technologies Corp.,
Expiration:
8/7/2026; Exercise Price: $126.00 |
Fund Changes
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
Strategic Metals & Mining Portfolio Option Income ETF |
$38* |
0.99%** |
| * | The Fund commenced operations on February 26, 2026. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (2/26/26) |
|---|---|
|
Yieldmax™
Strategic Metals & Mining Portfolio Option Income ETF - at NAV |
-19.76%* |
|
S&P
500® Total Return Index |
8.93% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$4,420 |
|
Number
of Holdings |
79 |
|
Total
Advisory Fee Paid |
$19,275 |
|
Portfolio
Turnover |
38% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net
Assets) |
|---|---|
|
Nucor
Corp. |
|
|
Steel
Dynamics, Inc. |
|
|
Freeport-McMoRan,
Inc. |
|
|
Caterpillar,
Inc. |
|
|
Southern
Copper Corp. |
|
|
Constellation
Energy Corp. |
|
|
BHP
Group Ltd., ADR |
|
|
VanEck
Gold Miners ETF |
|
|
Global
X Lithium & Battery Tech ETF |
|
|
Newmont
Corp. |
Fund Changes
Effective July 23, 2026 the Fund’s investment strategy is revised to provide that the Fund may invest in U.S.-listed equity securities of Strategic Metals & Mining Companies and/or shares of one or more Strategic Metals & Mining ETFs (collectively, the “Underlying Securities”). The Fund will also seek to generate income using options contracts on the Underlying Securities. Strategic Metals & Mining Companies may include foreign companies, including companies located in emerging markets, and their U.S.-listed depositary receipts, including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”).
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
Target 12 Big 50 Option Income ETF |
$106 |
1.01%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
During the reporting period, BIGY generated a positive total return, led by gains among its largest holdings, including NVIDIA, Apple, Alphabet, and Amazon. Beginning in mid-September 2025, the fund made regular monthly distributions to shareholders toward its 12% annual income target.
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (11/20/24) |
|---|---|---|
|
Yieldmax™
Target 12 Big 50 Option Income ETF - at NAV |
15.25% |
14.26% |
|
S&P
500® Total Return Index |
19.56% |
16.37% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$54,361 |
|
Number
of Holdings |
207 |
|
Total
Advisory Fee Paid |
$227,003 |
|
Portfolio
Turnover |
41% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net
Assets) |
|---|---|
|
Apple,
Inc. |
|
|
NVIDIA
Corp. |
|
|
Amazon.com,
Inc. |
|
|
Alphabet,
Inc. - Class A |
|
|
Microsoft
Corp. |
|
|
Advanced
Micro Devices, Inc. |
|
|
Broadcom,
Inc. |
|
|
JPMorgan
Chase & Co. |
|
|
Meta
Platforms, Inc. - Class A |
|
|
Walmart,
Inc. |
Fund Changes
Effective September 18, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a monthly or more frequent basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
Target 12 Real Estate Option Income ETF |
$107 |
1.02%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
During the reporting period, RNTY generated a positive total return, as modest gains across its real estate holdings, together with option premium income, contributed to results. Beginning in mid-September 2025, the Fund also made regular monthly distributions toward its 12% annual income target.
What Factors Influenced Performance?
Performance was primarily influenced by the returns of the Fund's underlying portfolio of real estate companies and real estate investment trusts ("REITs"), which benefited from the trajectory of interest rates over the period. The Fund's covered call strategy generated premium income used to help meet its annual 12% target, though this strategy limited participation in a portion of the sector's gains.
Positioning of the Fund
The Fund continues to hold a portfolio of 15 to 30 U.S.-listed real estate companies, REITs, and real estate-related investments, and employs a covered call strategy across its holdings. RNTY seeks to generate current income, so as to be able to make cash distributions based on a targeted annual cash distribution level of 12% while also seeking capital appreciation.
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (4/16/25) |
|---|---|---|
|
Yieldmax™
Target 12 Real Estate Option Income ETF - at NAV |
11.04% |
11.44% |
|
S&P
500® Total Return Index |
19.56% |
32.78% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$8,739 |
|
Number
of Holdings |
76 |
|
Total
Advisory Fee Paid |
$55,765 |
|
Portfolio
Turnover |
752% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net
Assets) |
|---|---|
|
Welltower,
Inc. - REIT |
|
|
Prologis,
Inc. - REIT |
|
|
Digital
Realty Trust, Inc. - REIT |
|
|
Simon
Property Group, Inc. - REIT |
|
|
Equinix,
Inc. - REIT |
|
|
Texas
Pacific Land Corp. |
|
|
Realty
Income Corp. - REIT |
|
|
Iron
Mountain, Inc. - REIT |
|
|
St.
Joe Co. |
|
|
Public
Storage - REIT |
Fund Changes
Effective September 18, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a monthly or more frequent basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
Target 12 Semiconductor Option Income ETF |
$146 |
1.01%* |
| * | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
During the reporting period, SOXY generated a strong positive total return, as substantial gains across its semiconductor holdings significantly outweighed the capped upside from its call spread strategy. Beginning in mid-September 2025, the Fund also starting making regular monthly distributions toward its 12% annual income target.
What Factors Influenced Performance?
Positioning of the Fund
The Fund continues to hold a portfolio of 15 to 30 semiconductor companies directly and employs a covered call strategy across its holdings. SOXY seeks to generate current income to allow for cash distributions based on a targeted annual cash distribution level of 12% while also seeking capital appreciation.
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
1
Year |
Since
Inception (12/2/24) |
|---|---|---|
|
Yieldmax™
Target 12 Semiconductor Option Income ETF - at NAV |
90.25% |
57.91% |
|
S&P
500® Total Return Index |
19.56% |
15.16% |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$64,010 |
|
Number
of Holdings |
85 |
|
Total
Advisory Fee Paid |
$303,976 |
|
Portfolio
Turnover |
68% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net
Assets) |
|---|---|
|
NVIDIA
Corp. |
|
|
Advanced
Micro Devices, Inc. |
|
|
Broadcom,
Inc. |
|
|
ASML
Holding NV |
|
|
Marvell
Technology Inc |
|
|
ACM
Research, Inc. - Class A |
|
|
Lam
Research Corp. |
|
|
Applied
Materials, Inc. |
|
|
Astera
Labs, Inc. |
|
|
Micron
Technology, Inc. |
Fund Changes
Effective September 18, 2025 the Fund's payment of income distributions was changed to seek to make such distributions on a monthly or more frequent basis.
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
TSLA Performance & Distribution Target 25 ETF |
$64* |
1.01%** |
| * | The Fund commenced operations on November 17, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
The Fund had a negative total return as declines in Tesla, Inc. (“TSLA”) outweighed income generated by its options strategies. The Fund also made regular distributions.
What Factors Influenced Performance?
Performance was primarily influenced by TSLA’s share price since inception which has been less than 12 months, and implied volatility. Declines in TSLA detracted from results, while option premiums partially offset those losses.
Positioning of the Fund
The Fund maintained synthetic exposure to TSLA and employed options strategies to generate premiums while targeting annual cash distributions of approximately 25% of net asset value and seeking current income and capital appreciation.
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (11/17/25) |
|---|---|
|
Yieldmax™
TSLA Performance & Distribution Target 25 ETF - at NAV |
-17.86%* |
|
S&P
500® Total Return Index |
13.17% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$3,468 |
|
Number
of Holdings |
12 |
|
Total
Advisory Fee Paid |
$17,491 |
|
Portfolio
Turnover |
0% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net Assets) |
|---|---|
|
U.S.
Treasury Bills |
|
|
First
American Government Obligations Fund - Class X, 3.58% |
|
|
Tesla,
Inc., Expiration: 9/18/2026;
Exercise
Price: $395.01 |
|
|
Tesla,
Inc., Expiration: 9/18/2026;
Exercise
Price: $330.00 |
|
|
Tesla,
Inc., Expiration: 9/18/2026;
Exercise
Price: $360.00 |
|
|
Tesla,
Inc., Expiration: 9/18/2026;
Exercise
Price: $395.01 |
|
|
Tesla,
Inc., Expiration: 8/21/2026;
Exercise
Price: $322.50 |
|
|
Tesla,
Inc., Expiration: 8/21/2026;
Exercise
Price: $327.50 |
|
|
Tesla,
Inc., Expiration: 8/21/2026;
Exercise
Price: $345.00 |
|
|
Tesla,
Inc., Expiration: 8/21/2026;
Exercise
Price: $355.00 |
Fund Changes
What were the Fund costs for the past year?
(based on a hypothetical $10,000 investment)
|
Class
Name |
Costs
of a $10,000 investment |
Costs
paid as a percentage of a $10,000 investment |
|---|---|---|
|
YieldMax™
U.S. Stocks Target Double Distribution ETF |
$40* |
0.99%** |
| * | The Fund commenced operations on March 11, 2026. Expenses for a full reporting period would be higher than the figures shown. |
| ** | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
How Did the Fund Perform During the Reporting Period?
What Factors Influenced Performance?
Positioning of the Fund
Cumulative Performance
(Initial Investment of $10,000)
Annual Performance
|
|
Since
Inception (3/11/26) |
|---|---|
|
Yieldmax™
U.S. Stocks Target Double Distribution ETF - at NAV |
7.61%* |
|
S&P
500® Total Return Index |
11.00% |
| * | Not Annualized for periods less than one year. |
Key Fund Statistics
(as of July 31, 2026)
|
Fund
Size (Thousands) |
$6,567 |
|
Number
of Holdings |
264 |
|
Total
Advisory Fee Paid |
$16,507 |
|
Portfolio
Turnover |
40% |
What did the Fund invest in?
(as of July 31, 2026)
Security Type - Investments
(% of Net Assets)
Security Type - Other Financial Instruments
(% of Net Assets)
Percentages are based on net assets. Cash & Cash Equivalents represents cash, short-term investments, and liabilities in excess of other assets.
|
Top
Holdings |
(%
of Net
Assets) |
|---|---|
|
Abbott
Laboratories |
|
|
Amgen,
Inc. |
|
|
Merck
& Co., Inc. |
|
|
Coca-Cola
Co. |
|
|
UnitedHealth
Group, Inc. |
|
|
Home
Depot, Inc. |
|
|
Chevron
Corp. |
|
|
Procter
& Gamble Co. |
|
|
Verizon
Communications, Inc. |
|
|
PepsiCo,
Inc. |
Fund Changes
| [1] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [2] | The Fund commenced operations on September 29, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| [3] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [4] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [5] | The Fund commenced operations on September 8, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| [6] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [7] | The Fund commenced operations on September 22, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| [8] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [9] | The Fund commenced operations on November 17, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| [10] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [11] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [12] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [13] | The Fund commenced operations on November 17, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| [14] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [15] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [16] | The Fund commenced operations on September 8, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| [17] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [18] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [19] | Does not round to 1%. |
| [20] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [21] | The Fund commenced operations on July 14, 2026. Expenses for a full reporting period would be higher than the figures shown. |
| [22] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [23] | The Fund commenced operations on February 26, 2026. Expenses for a full reporting period would be higher than the figures shown. |
| [24] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [25] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [26] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [27] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [28] | The Fund commenced operations on November 17, 2025. Expenses for a full reporting period would be higher than the figures shown. |
| [29] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |
| [30] | The Fund commenced operations on March 11, 2026. Expenses for a full reporting period would be higher than the figures shown. |
| [31] | Costs paid as a percentage of a $10,000 investment is an annualized figure. |