TSLY Fees and Costs — YieldMax TSLA Option Income Strategy ETF
Data updated: 2026-09-28
The net expense ratio is 1.07%: a 0.99% management fee plus 0.08% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.8M in broker commissions, 0.2574% of average net assets, and portfolio turnover was 124%.
TSLY Fees and Expenses
Annual operating expenses and sales charges of TSLY. Prospectus, as of February 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 1.07% |
| Fee waiver | — |
| Net expense ratio | 1.07% |
| 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 |
TSLY Costs Over Time
On $10,000 invested in TSLY, assuming 5% a year before costs, total costs come to $825 over 5 years, cutting the return by 1.39% 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 1.07%) | $112 | $349 | $604 |
| Trading costs (broker commissions) | $27 | $84 | $145 |
| Lost growth on money paid in costs | $0 | $22 | $76 |
| Total costs | $139 | $455 | $825 |
| Value after costs | $10,361 | $11,121 | $11,938 |
| Impact on return, per year | 1.39% | 1.39% | 1.39% |
TSLY 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): 0.2574%
- Total broker commissions: $2.8M
- Bought from dealers (principal trades, not a cost): $7.2B
- Portfolio turnover (prospectus): 124%
- Securities lending: none during the year
TSLY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $1.3M | 47.76% |
| STONEX FINANCIAL INC. | $717K | 25.45% |
| GOLDMAN SACHS & CO. LLC | $291K | 10.31% |
| JANE STREET EXECUTION SERVICES LLC | $225K | 7.98% |
| CITADEL SECURITIES LLC | $94K | 3.32% |
| CF SECURED LLC | $84K | 2.98% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $55K | 1.96% |
| WALLACHBETH CAPITAL LLC | $6K | 0.20% |
| IMC-CHICAGO LLC | $1K | 0.04% |
| MAREX NORTH AMERICA SECURITIES LLC | $53 | 0.00% |
TSLY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $3.1B | 43.80% |
| MAREX NORTH AMERICA SECURITIES LLC | $2.5B | 34.95% |
| BMO CAPITAL MARKETS CORP. | $444.2M | 6.31% |
| MORGAN STANLEY & CO. LLC | $245.8M | 3.49% |
| BOFA SECURITIES INC. | $203.8M | 2.89% |
| RBC CAPITAL MARKETS LLC | $148.9M | 2.11% |
| STONEX FINANCIAL INC. | $130.2M | 1.85% |
| MAREX CAPITAL MARKETS INC. | $120.9M | 1.72% |
| CANTOR FITZGERALD & CO. | $112.7M | 1.60% |
| PERSHING LLC | $90.5M | 1.28% |
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.