MRNY Fees and Costs — YieldMax MRNA 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 $1.9M in broker commissions, 2.4354% of average net assets, and portfolio turnover was 42%.
MRNY Fees and Expenses
Annual operating expenses and sales charges of MRNY. 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 |
MRNY Costs Over Time
On $10,000 invested in MRNY, assuming 5% a year before costs, total costs come to $2,047 over 5 years, cutting the return by 3.61% 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 | $319 | $540 |
| Trading costs (broker commissions) | $256 | $778 | $1,315 |
| Lost growth on money paid in costs | $0 | $55 | $192 |
| Total costs | $361 | $1,153 | $2,047 |
| Value after costs | $10,139 | $10,424 | $10,716 |
| Impact on return, per year | 3.61% | 3.61% | 3.61% |
MRNY 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): 2.4354%
- Total broker commissions: $1.9M
- Bought from dealers (principal trades, not a cost): $324.2M
- Portfolio turnover (prospectus): 42%
- Securities lending: none during the year
MRNY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $1.7M | 85.68% |
| JANE STREET EXECUTION SERVICES LLC | $149K | 7.67% |
| SIGMA FINANCIAL CORPORATION | $83K | 4.30% |
| CITADEL SECURITIES LLC | $41K | 2.13% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $4K | 0.20% |
| IMC-CHICAGO LLC | $450 | 0.02% |
MRNY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $273.2M | 84.27% |
| MORGAN STANLEY & CO. LLC | $33.7M | 10.40% |
| RBC CAPITAL MARKETS LLC | $8.3M | 2.56% |
| GOLDMAN SACHS & CO. LLC | $6.4M | 1.97% |
| JEFFERIES LLC | $2.6M | 0.80% |
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.