Key stats
About Tidal Trust II YieldMax SMCI Option Income Strategy ETF
Home page
Inception date
Sep 11, 2024
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
SMCY aims to generate monthly income while providing exposure to the price returns of Super Micro Computer Inc. (SMCI), subject to a cap on potential gains. It utilizes a synthetic covered call strategy via standardized exchange-traded and FLEX options, consisting of i) synthetic long exposure, ii) covered call writing, and iii) US Treasurys. The synthetic long exposure seeks to replicate the price movements of SMCI by buying and selling one- to six-month at-the-money calls and puts. The short put positions fully expose investors to the downside of the stock. The fund writes call options expiring in one month or less, with a strike price of 0%-15% above SMCIs share price. This generates income but limits participation in potential gains. To seek greater participation in SMCIs potential appreciation in the short term, the fund may opportunistically write credit call spreads. Note: the fund does not invest directly in SMCI stocks and thus, is not entitled to dividends.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Government
Bonds, Cash & Other100.00%
Government100.70%
Cash2.89%
Mutual fund1.32%
Rights & Warrants−4.91%
Stock breakdown by region
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
SMCY top holdings are United States Treasury Notes 3.875% 15-JAN-2026 and United States Treasury Notes 4.25% 15-OCT-2025, occupying 30.00% and 21.76% of the portfolio correspondingly.
SMCY last dividends amounted to 1.58 USD. The month before, the issuer paid 1.41 USD in dividends, which shows a 10.55% increase.
SMCY assets under management is 188.54 M USD. It's fallen 0.88% over the last month.
SMCY fund flows account for 233.08 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, SMCY pays dividends to its holders with the dividend yield of 138.48%. The last dividend (Jun 6, 2025) amounted to 1.58 USD. The dividends are paid monthly.
SMCY shares are issued by Toroso Investments Topco LLC under the brand YieldMax. The ETF was launched on Sep 11, 2024, and its management style is Active.
SMCY expense ratio is 0.99% meaning you'd have to pay 0.99% of your investment to help manage the fund.
SMCY follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
SMCY invests in bonds.
SMCY price has fallen by −8.86% over the last month, and its yearly performance shows a −61.94% decrease. See more dynamics on SMCY price chart.
NAV returns, another gauge of an ETF dynamics, showed a 10.15% increase in three-month performance and has increased by 20.78% in a year.
NAV returns, another gauge of an ETF dynamics, showed a 10.15% increase in three-month performance and has increased by 20.78% in a year.
SMCY trades at a premium (0.11%) meaning the ETF is trading at a higher price than the calculated NAV.