XYZY Fees and Costs — YieldMax XYZ Option Income Strategy ETF
Data updated: 2026-09-28
The net expense ratio is 1.36%: a 0.99% management fee plus 0.37% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $880K in broker commissions, 1.2435% of average net assets, and portfolio turnover was 46%.
XYZY Fees and Expenses
Annual operating expenses and sales charges of XYZY. Prospectus, as of February 24, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.37% |
| Gross expense ratio | 1.36% |
| Fee waiver | — |
| Net expense ratio | 1.36% |
| 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 |
XYZY Costs Over Time
On $10,000 invested in XYZY, assuming 5% a year before costs, total costs come to $1,577 over 5 years, cutting the return by 2.73% 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 1.36%) | $143 | $438 | $747 |
| Trading costs (broker commissions) | $131 | $401 | $683 |
| Lost growth on money paid in costs | $0 | $42 | $147 |
| Total costs | $273 | $881 | $1,577 |
| Value after costs | $10,227 | $10,695 | $11,186 |
| Impact on return, per year | 2.73% | 2.73% | 2.73% |
XYZY 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): 1.2435%
- Total broker commissions: $880K
- Bought from dealers (principal trades, not a cost): $305.5M
- Portfolio turnover (prospectus): 46%
- Securities lending: none during the year
XYZY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $740K | 84.04% |
| CITADEL SECURITIES LLC | $39K | 4.37% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $37K | 4.23% |
| CF SECURED LLC | $34K | 3.84% |
| STONEX FINANCIAL INC. | $30K | 3.40% |
| JANE STREET EXECUTION SERVICES LLC | $870 | 0.10% |
| WALLACHBETH CAPITAL LLC | $100 | 0.01% |
XYZY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $244.5M | 80.03% |
| RBC CAPITAL MARKETS LLC | $23.9M | 7.81% |
| STONEX FINANCIAL INC. | $20.5M | 6.71% |
| OPPENHEIMER & CO. INC. | $5.0M | 1.62% |
| MORGAN STANLEY & CO. LLC | $3.6M | 1.18% |
| PERSHING LLC | $2.8M | 0.93% |
| GOLDMAN SACHS & CO. LLC | $2.3M | 0.76% |
| BOFA SECURITIES INC. | $1.4M | 0.47% |
| BMO CAPITAL MARKETS CORP. | $1.4M | 0.47% |
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.