BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (2024)

YieldMax™ Target 12™ Big 50 Option Income ETF

BIGY is an actively managed ETF that seeks a target annual income level of 12% and capital appreciation via direct investments in a select portfolio of 50 large companies.

Investing in the Fund involves a high degree of risk. Due to BIGY’s investment strategy, BIGY’s exposure to gains, if any, of the share price returns of the Underlying Securities is capped. However, BIGY is subject to all potential losses if the shares of the Underlying Securities decrease in value, which may not be offset by income received by BIGY.

THE FUND, TRUST, ADVISER, AND SUB-ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING ISSUER.

Distribution Rate*:

30-Day SEC Yield**:

The most recent distribution on XX/XX/XXXX, contains XX% return of capital and XX% income.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (866) 864-3968.

*The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF’s Distribution per Share by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. The 30-Day SEC Yield represents net investment income,which excludes option income, earned by such ETF over the 30-Day period ended at the most recent month-end, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.Distributions are not guaranteed.

**The Distribution Rate and 30-Day SEC Yield is not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.

Please refer to the 19a-1 notices at here for additional details regarding the distributions’ composition, once available.

Distribution Details

For YieldMax™ ETFs Distribution Schedules, click here.

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*The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF’s Distribution per Share by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. The 30-Day SEC Yield represents net investment income,which excludes option income, earned by such ETF over the 30-Day period ended at the most recent month-end, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.Distributions are not guaranteed.

**The Distribution Rate and 30-Day SEC Yield is not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.

YieldMax™ ETF distributions may contain return of capital, but an estimate cannot be provided at this time. Please refer to the 19a-1 notices at here for additional details regarding the distributions’ composition, once available.

Fund Overview

BIGY is an actively managed ETF that seeks a target annual income level of 12% and capital appreciation via direct investments in a select portfolio of 50 large cap companies (each a “Big 50 Company”).

BIGY considers a “Big 50 Company” as one of the 50 largest U.S. companies (in terms of market capitalization) whose U.S.-listed equity securities have options contracts that are sufficiently liquid, as determined by BIGY’s investment sub-adviser.

BIGY seeks to generate a target annual income level of 12% primarily by writing (selling) options contracts on some or all of its portfolio companies.

BIGY seeks capital appreciation via direct investments in the Big 50 Companies. ZEGA will typically evaluate and select the Big 50 companies every quarter.

Investment Objective

BIGY’s primary investment objective is to seek current income. BIGY’s secondary investment objective is to seek capital appreciation via investments in a select portfolio of 50 of the largest U.S. companies.

Fund Information

**The 30-Day SEC Yield represents net investment income earned by the Fund over the 30-day period ended on the date indicated by the Yield, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-day period. The unsubsidized30-Day SEC Yielddoes not reflect any fee waivers/reimbursements/limits in effect.

Fund Data & Pricing

**Median 30-Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10-second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Performance

Month-End

Quarter-End

Month-End

Quarter-End

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The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (866) 864-3968.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded. The fund intends to pay out dividends and interest income, if any, monthly. There is no guarantee these distributions will be made.

Holdings

Top 10 Holdings

Holdings subject to change.

Intra-day trades Download

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Literature

Prospectus

Summary Prospectus

SAI

Purchase Information

Buy BIGY

The YieldMax™ Target 12™ Big 50 Option Income ETF is available through various channels including via phone (866) 864-3968, broker-dealers, investment advisers, and other financial services firms, including:

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (1)

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (2)

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (3)

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (4)

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (5)

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (6)

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (7)

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (8)

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (9)

This Fund is not affiliated with these financial service firms.
Their listing should not be viewed as a recommendation or endorsement.

Risk Information

Before investing, carefully consider the Fund’s investment objectives, risks, charges, and expenses. This information, along with other details, is available in the prospectus. Please read the prospectuses carefully before making any investment.

Investments involve risk. Principal loss is possible.
THE FUND, TRUST, ADVISER, AND SUB-ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING ISSUER.

There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

Underlying Security Risk:
Each Underlying YieldMax™ ETF invests in options contracts based on the value of its Underlying Security. This subjects each Underlying YieldMax™ ETF to certain risks as if it owned shares of its Underlying Security, even though it does not. As a result, each Underlying YieldMax™ ETF is subject to the risks associated with the industryof the corresponding Underlying Issuer.

Derivatives Risk:
Derivatives are financial instruments deriving value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates, or indexes. Each Underlying YieldMax™ ETF’s investments in derivatives may pose risks beyond those associated with directly investing in securities or other ordinary investments. Risks include market-related factors, imperfect correlation with underlying investments or Underlying YieldMax™ ETF’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation, and legal restrictions. The Underlying YieldMax™ ETFs’ investment strategies are options-based, and option prices are influenced by various factors.

Distribution Risk:
Each Underlying YieldMax™ ETF aims to provide monthly income, but there is no guarantee of distribution in any given month. Monthly distributions may consist of capital returns, potentially reducing each Underlying YieldMax™ ETF’s NAV and trading price over time. This could lead to significant losses for investors, especially as returns exclude dividends paid by the Underlying Security, resulting in lesser income compared to a direct investment in the Underlying Security.

NAV Erosion Risk Due to Distributions:
When an Underlying YieldMax™ ETF makes a distribution, its NAV typically drops by the distribution amount on the related ex-dividend date. Repetitive distributions may significantly erode an Underlying YieldMax™ ETF’s NAV and trading price over time, potentially resulting in notable losses for investors.

Call Writing Strategy Risk:
The continuous application of each Underlying YieldMax™ ETF’s call writing strategy impacts its ability to participate in positive price returns of its Underlying Security. This affects returns during the term of sold call options and over longer time frames. An Underlying YieldMax™ ETF’s participation in its Underlying Security’s positive price returns and its own returns will depend not only on the Underlying Security’s price but also on the path the Underlying Security’s price takes over time. Certain price trajectories of the Underlying Security could lead to suboptimal outcomes for the Underlying YieldMax™ ETF.

Single Issuer Risk:
Each Underlying YieldMax™ ETF, focusing on an individual security (Underlying Security), may experience more volatility compared to traditional pooled investments or the market generally due to issuer-specific attributes. Its performance may deviate from that of diversified investments or the overall market, making it potentially more susceptible to the specific performance and risks associated with the Underlying Security.

High Portfolio Turnover Risk:
Each Underlying YieldMax™ ETF may actively and frequently trade all or a significant portion of the Underlying YieldMax™ ETF’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Underlying YieldMax™ ETF’s expenses.

New Fund Risk:
The Fund is a recently organized management investment company with no operating history. Prospective investors do not have a track record or history on which to base their investment decisions.

Liquidity Risk.Some securities held by the Underlying YieldMax™ ETFs, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil. This risk is greater for the Underlying YieldMax™ ETFs as each will hold options contracts on a single security, and not a broader range of options contracts. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation or regulatory changes inside or outside the United States. Illiquid securities may be difficult to value, especially in changing or volatile markets. If an Underlying YieldMax™ ETF is forced to sell an illiquid security at an unfavorable time or price, the Underlying YieldMax™ ETF may be adversely impacted. Certain market conditions or restrictions, such as market rules related to short sales, may prevent the Underlying YieldMax™ ETF from limiting losses, realizing gains or achieving a high correlation with the Underlying Security. There is no assurance that a security that is deemed liquid when purchased will continue to be liquid. Market illiquidity may cause losses for the Underlying YieldMax™ ETFs.

Non-Diversification Risk.Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.

Launch & Structure Partner: Tidal ETF Services

The Funds are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with YieldMax or Tidal.

BIGY, Target 12™ Big 50 Option Income ETF – YieldMax ETFs (2024)

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