AMDY Fees and Costs — YieldMax AMD Option Income Strategy ETF
Data updated: 2026-09-28
The net expense ratio is 1.00%: a 0.99% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.5M in broker commissions, 0.9214% of average net assets, and portfolio turnover was 46%.
AMDY Fees and Expenses
Annual operating expenses and sales charges of AMDY. Prospectus, as of February 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
AMDY Costs Over Time
On $10,000 invested in AMDY, assuming 5% a year before costs, total costs come to $1,180 over 5 years, cutting the return by 2.02% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.00%) | $105 | $324 | $557 |
| Trading costs (broker commissions) | $97 | $299 | $513 |
| Lost growth on money paid in costs | $0 | $31 | $109 |
| Total costs | $202 | $655 | $1,180 |
| Value after costs | $10,298 | $10,922 | $11,583 |
| Impact on return, per year | 2.02% | 2.02% | 2.02% |
AMDY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.9214%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $641.8M
- Portfolio turnover (prospectus): 46%
- Securities lending: none during the year
AMDY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $1.1M | 73.52% |
| CANTOR FITZGERALD & CO. | $304K | 20.24% |
| JANE STREET EXECUTION SERVICES LLC | $60K | 4.00% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $29K | 1.94% |
| WALLACHBETH CAPITAL LLC | $2K | 0.15% |
| CITADEL SECURITIES LLC | $2K | 0.14% |
| IMPERIAL CAPITAL LLC | $91 | 0.01% |
AMDY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $460.7M | 72.36% |
| MORGAN STANLEY & CO. LLC | $63.5M | 9.97% |
| BMO CAPITAL MARKETS CORP. | $28.6M | 4.49% |
| STONEX FINANCIAL INC. | $27.4M | 4.30% |
| RBC CAPITAL MARKETS LLC | $13.5M | 2.12% |
| BOFA SECURITIES INC. | $9.9M | 1.56% |
| JEFFERIES LLC | $9.7M | 1.52% |
| PERSHING LLC | $9.3M | 1.46% |
| J.P. MORGAN SECURITIES LLC | $8.2M | 1.29% |
| GOLDMAN SACHS & CO. LLC | $6.0M | 0.94% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.