QDTY — YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF

QDTY Fund Overview

QDTY — YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF is a US ETF managed by Tidal Trust II, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Tidal Trust II
• Category: United States Large Cap Blend / Core Equity
• Assets under management: $24.27M
• 1-year return: 20.4%
• Ticker: QDTY
• SEC CIK: 0001924868
• SEC series ID: S000090038
• Share class ID: C000256915

QDTY Investment Objective and Strategy

YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Tidal Trust II.

Investment objective

The Funds primary investment objective is to seek current income.

Principal investment strategy

The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by employing a synthetic covered call strategy, designed to generate weekly cash distributions from options premiums while also providing exposure to the price return of the Nasdaq 100 index (the Index) (described more below). In executing this strategy, the Fund will utilize call options that reference the Index or on passively managed ETFs that seek to track the Indexs performance (Index ETFs). Additionally, the Fund will invest in short-term U.S. Treasury securities and money market funds to generate income from uninvested cash. Call Option Strategy The Funds synthetic covered call strategy involves a combination of selling and purchasing call options on the Index or on one or more Index ETFs.

Each business day, typically at market open or shortly thereafter, the Fund sells out-of-the-money (OTM) call options on the Index (or Index ETFs) with zero days to expiration (0DTE) meaning these options expire at the end of the same day they are sold. OTM options are those with a strike price above the current value of the Index. The Fund, as the option seller, receives a premium (payment from the buyer) in exchange for the option. When the Fund sells call options, it receives a premium, but limits its potential upside from increases in the market value of the underlying asset to the sum of the options exercise price and the premium received. Accordingly, the Funds strategy is designed to generate consistent cash distributions, but with a cap on the Funds ability to fully participate in market gains above the exercise price.

To establish synthetic long exposure to the Index, the Fund also purchases deep-in-the-money (ITM) call options on the Index (or Index ETFs). Deep-ITM call options are those where the current Index level is substantially above the strike price, providing the Fund with price exposure to the Indexs returns, similar to owning the Indexs securities directly. This is because Deep-ITM options have a price that moves nearly one-for-one with the Index due to their high intrinsic value, effectively mirroring the Indexs performance. This synthetic structurecombining sold call options for options premiums with purchased calls for Index exposurecharacterizes the strategy as a synthetic covered call, as opposed to a traditional covered call, where a security is owned outright. Options Premiums and Indirect Participation in Index Performance The Funds cash distributions are primarily generated by selling out-of-the-money 0DTE call options on a daily basis.

The premium received from these call options is intended to contribute to the Funds income objective, but this approach may cap the Funds participation in potential Index gains. Specifically, if the Index appreciates beyond the strike price of the sold call options, the positions will limit the Funds potential upside, offsetting the gains from its long Index exposure. For example, excluding the premium from the sold call, if the Fund sells call options 1% out-of-the-money and the Index appreciates by 3% on a given day, the Funds net return will be 1%. This is equal to the 3% gain from its long call exposure, reduced by the 2% loss on its sold call options. This strategy effectively converts a portion of the potential growth in the Indexs price return into options premiums, balancing the income objective with limited exposure to the Indexs upside.

Conversely, if the Index declines, the premiums earned on sold call options may partially offset losses from the Funds synthetic long position. Distributions may include a significant portion classified as return of capital (ROC). ROC generally represents a return of a shareholders invested capital rather than traditional income such as dividends or interest. See the prospectus section titled Additional Information About the Funds for more information about option premiums and ROC. FLEX Options and European-Style Index Options The Funds investment in options includes both standard exchange-traded options and FLexible Exchange options (FLEX Options), which allow for customization of key terms such as strike price, expiration date, and exercise style. Both exchange-traded options and FLEX Options are listed on regulated U.S.

exchanges and are guaranteed for settlement by the Options Clearing Corporation (OCC), which mitigates counterparty risk. The options utilized by the Fund are index options and are cash-settled, European-style options, meaning they can only be exercised at expiration (in contrast to American-style options, which can be exercised at any time before expiration). Distribution Policy The Fund will seek to provide weekly cash distributions. The Fund will seek to generate such distributions in the following two ways: ? Writing (selling) call option contracts on the Index (or Index ETFs) as described above. ? Investing in short-term U.S. Treasury securities. The income generated by these securities will be influenced by interest rates at the time of investment. Additional Fund Attributes The Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in 0DTE options contracts that use the Index as the reference asset.

The Fund is classified as a non-diversified investment company under the 1940 Act, which means that the Fund may invest a high percentage of its assets in a fewer number of issuers. The Funds investment exposure will be concentrated in (or substantially exposed to) the same industry or group of industries to the extent the Index is so concentrated. There is no guarantee that the Funds investment strategy will be properly implemented, and an investor may lose some or all of its investment. None of the Fund, the Trust, the Adviser, or their respective affiliates makes any representation to you as to the performance of the Index. THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH, NOR ENDORSED BY, THE INDEX. Index Overview : The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

This makes it a large-cap index, meaning its constituents have a high market value, often in the billions of dollars. The Index includes companies from various industries but is heavily weighted towards the technology sector. This reflects Nasdaqs historic strength as a listing venue for tech companies. Other sectors represented include consumer discretionary, health care, communication services, and industrials, among others. In terms of volatility, like all stock indices, the Nasdaq 100 experiences daily price movements and can be significantly volatile at times. This is often driven by macroeconomic factors, market sentiment, and financial results or news from its large constituents. Historical periods of significant volatility include the dot-com bubble burst around 2000 and the global financial crisis of 2007-2008, among other events.

However, the specific degree of volatility can vary and is subject to change based on market conditions.

QDTY Holdings

Top 2 holdings of YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all QDTY holdings

QDTY Portfolio Allocation

Asset-class allocation of YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF by percentage of net assets, from the latest SEC N-PORT filing.

QDTY Performance

Total returns for QDTY (as of 2026-10-01), from SEC filings.

QDTY Risk Information

Risk metrics for QDTY, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 17.2%

QDTY Costs and Fees

QDTY costs about $117 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.17%
• Gross expense ratio: 1.17%
• Portfolio turnover: 0%

QDTY Cashflows

Over the 12 months to 2026-07, YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF had net inflows of $16.91M, from monthly SEC N-PORT filings.

QDTY Debt Constituents

Largest debt holdings of YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF by percentage of net assets, from the latest SEC N-PORT filing.

QDTY Prospectus and SEC Filings

Official YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2025-11-21
• Prospectus (485BPOS) — filed 2025-02-04
• Portfolio holdings (N-PORT) — filed 2026-09-28
• Portfolio holdings (N-PORT) — filed 2026-06-25
• Portfolio holdings (N-PORT) — filed 2026-03-31

Related Funds

Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:

• Vanguard Total Stock Market Index Fund (VTSMX)
• Vanguard 500 Index Fund (VFINX)
• iShares Core S&P 500 ETF (IVV)
• Fidelity 500 Index Fund (FXAIX)
• Vanguard Institutional Index Fund (VINIX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.