YieldMax™ Launches Option Income Strategy ETF on Taiwan Semiconductor (TSM)

ETF Launch and Strategy - YieldMax™ announced the launch of the YieldMax™ TSM Option Income Strategy ETF (NYSE Arca: TSMY), which seeks to generate monthly income through options-based strategies on the ADRs of Taiwan Semiconductor Manufacturing Co Ltd (TSM) [1] - TSMY is actively managed by ZEGA Financial and does not invest directly in TSM or its ADRs [1] - TSMY is part of the YieldMax™ ETF family, which aims to deliver current income to investors [1] ETF Performance and Distribution - The Distribution Rate for TSMY is not provided in the table, but other YieldMax™ ETFs show Distribution Rates ranging from 22.65% (PYPL) to 98.20% (MSTR) [3] - The 30-Day SEC Yield for TSMY is not provided, but other YieldMax™ ETFs show yields ranging from 3.80% (SNOY) to 5.13% (AMDY) [3] - Distributions may include ordinary dividends, capital gains, and return of investor capital, which could decrease the ETF's NAV and trading price over time [2] ETF Expense Ratios - Most YieldMax™ ETFs have a gross expense ratio of 0.99%, except for YMAX and YMAG, which have a gross expense ratio of 1.28% due to acquired fund fees and expenses [6] - ULTY has a gross expense ratio of 1.24%, with a 0.10% fee waiver through at least February 28, 2025 [6] ETF Investment Strategy Risks - YieldMax™ ETFs (except Short ETFs) cap potential gains if the reference asset's shares increase in value but expose investors to all potential losses if the reference asset's shares decrease in value [9] - Short ETFs cap potential gains if the reference asset decreases in value but expose investors to all potential losses if the reference asset increases in value [9] - Distributions for several ETFs have included return of investor capital, which may impact the ETF's NAV and trading price [9] ETF Holdings - As of August 20, 2024, the YieldMax™ TSM Option Income Strategy ETF did not hold any shares or ADRs of Taiwan Semiconductor Manufacturing Co Ltd (TSM) [22]