YieldMax Target 12 Big 50 Option Income ETF (BIGY)

The YieldMax Target 12 Big 50 Option Income ETF (BIGY) is an income-focused fund in the YieldMax family, known for option income ETFs. The adviser is Tidal Investments, and ZEGA Financial participates as sub-adviser in the YieldMax lineup.

The fund holds a portfolio of roughly 50 of the largest U.S. companies, as its name implies, and writes call options against those positions to generate premium income. The "Target 12" in the name refers to the fund's aim of producing an annual level of distributions around a targeted rate, with option writing adjusted in pursuit of that goal.

Selling calls limits the fund's ability to participate fully in strong rallies in its holdings, while the portfolio remains exposed to declines in the underlying stocks. Distributions may include return of capital.