DIPS Fees and Costs — YieldMax Short NVDA Option Income Strategy ETF
Data updated: 2026-09-28
The net expense ratio is 1.05%: a 0.99% management fee plus 0.05% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $71K in broker commissions, 0.6450% of average net assets, and portfolio turnover was 22%.
DIPS Fees and Expenses
Annual operating expenses and sales charges of DIPS. Prospectus, as of February 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 1.05% |
| Fee waiver | — |
| Net expense ratio | 1.05% |
| 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 |
DIPS Costs Over Time
On $10,000 invested in DIPS, assuming 5% a year before costs, total costs come to $1,046 over 5 years, cutting the return by 1.78% 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 1.05%) | $110 | $342 | $588 |
| Trading costs (broker commissions) | $68 | $210 | $361 |
| Lost growth on money paid in costs | $0 | $27 | $97 |
| Total costs | $178 | $579 | $1,046 |
| Value after costs | $10,322 | $10,998 | $11,717 |
| Impact on return, per year | 1.78% | 1.78% | 1.78% |
DIPS 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): 0.6450%
- Total broker commissions: $71K
- Bought from dealers (principal trades, not a cost): $28.8M
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
DIPS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $57K | 80.31% |
| CITADEL SECURITIES LLC | $7K | 9.31% |
| JANE STREET EXECUTION SERVICES LLC | $3K | 4.52% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $3K | 3.60% |
| WALLACHBETH CAPITAL LLC | $2K | 2.26% |
DIPS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $24.8M | 86.20% |
| MORGAN STANLEY & CO. LLC | $2.3M | 7.90% |
| RBC CAPITAL MARKETS LLC | $1.1M | 3.85% |
| JEFFERIES LLC | $590K | 2.05% |
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.