CVNY Fees and Costs — YieldMax CVNA Option Income Strategy ETF
Data updated: 2026-09-28
The net expense ratio is 1.09%: a 0.99% management fee plus 0.10% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $118K in broker commissions, 0.2268% of average net assets, and portfolio turnover was 0%.
CVNY Fees and Expenses
Annual operating expenses and sales charges of CVNY. Prospectus, as of February 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 1.09% |
| Fee waiver | — |
| Net expense ratio | 1.09% |
| 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 |
CVNY Costs Over Time
On $10,000 invested in CVNY, assuming 5% a year before costs, total costs come to $818 over 5 years, cutting the return by 1.38% 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 1.09%) | $114 | $356 | $615 |
| Trading costs (broker commissions) | $24 | $74 | $128 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $451 | $818 |
| Value after costs | $10,362 | $11,125 | $11,944 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
CVNY 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): 0.2268%
- Total broker commissions: $118K
- Bought from dealers (principal trades, not a cost): $183.5M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
CVNY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $91K | 76.81% |
| JANE STREET EXECUTION SERVICES LLC | $10K | 8.24% |
| BOFA SECURITIES INC. | $4K | 3.80% |
| CITADEL SECURITIES LLC | $4K | 3.26% |
| CF SECURED LLC | $3K | 2.28% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $2K | 1.95% |
| SIGMA FINANCIAL CORPORATION | $2K | 1.80% |
| IMC-CHICAGO LLC | $2K | 1.33% |
| WALLACHBETH CAPITAL LLC | $622 | 0.53% |
CVNY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $150.8M | 82.16% |
| MORGAN STANLEY & CO. LLC | $12.4M | 6.75% |
| RBC CAPITAL MARKETS LLC | $8.6M | 4.70% |
| JEFFERIES LLC | $7.7M | 4.21% |
| BMO CAPITAL MARKETS CORP. | $2.2M | 1.18% |
| CITADEL SECURITIES LLC | $1.8M | 1.00% |
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.