OARK Fees and Costs — YieldMax Innovation 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 $864K in broker commissions, 1.2095% of average net assets, and portfolio turnover was 115%.
OARK Fees and Expenses
Annual operating expenses and sales charges of OARK. 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 |
OARK Costs Over Time
On $10,000 invested in OARK, assuming 5% a year before costs, total costs come to $1,349 over 5 years, cutting the return by 2.32% 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 | $554 |
| Trading costs (broker commissions) | $127 | $391 | $670 |
| Lost growth on money paid in costs | $0 | $36 | $125 |
| Total costs | $232 | $751 | $1,349 |
| Value after costs | $10,268 | $10,826 | $11,414 |
| Impact on return, per year | 2.32% | 2.32% | 2.32% |
OARK 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): 1.2095%
- Total broker commissions: $864K
- Bought from dealers (principal trades, not a cost): $315.0M
- Portfolio turnover (prospectus): 115%
- Securities lending: none during the year
OARK Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $678K | 78.52% |
| CITADEL SECURITIES LLC | $78K | 9.00% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $46K | 5.29% |
| JANE STREET EXECUTION SERVICES LLC | $27K | 3.11% |
| SIGMA FINANCIAL CORPORATION | $14K | 1.59% |
| BOFA SECURITIES INC. | $11K | 1.26% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $6K | 0.69% |
| OLD MISSION MARKETS LLC | $3K | 0.34% |
| IMC-CHICAGO LLC | $2K | 0.17% |
| MAREX NORTH AMERICA SECURITIES LLC | $281 | 0.03% |
OARK Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $151.0M | 47.95% |
| MAREX NORTH AMERICA SECURITIES LLC | $97.2M | 30.86% |
| MORGAN STANLEY & CO. LLC | $31.6M | 10.03% |
| RBC CAPITAL MARKETS LLC | $18.8M | 5.96% |
| STONEX FINANCIAL INC. | $8.2M | 2.59% |
| PERSHING LLC | $4.8M | 1.54% |
| BOFA SECURITIES INC. | $1.7M | 0.54% |
| BMO CAPITAL MARKETS CORP. | $1.7M | 0.54% |
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.