YieldMax MARA Option Income Strategy ETF (MARO)

YieldMax MARA Option Income Strategy ETF is an actively managed income fund in the YieldMax lineup, advised by Tidal Investments. It seeks to generate current income while offering limited exposure to the share price of MARA Holdings, Inc., the bitcoin mining and digital asset infrastructure company.

The fund does not own MARA shares directly. Instead it creates synthetic exposure using options and sells call options on MARA to collect premium income, holding short-term U.S. Treasury securities as collateral. That option income is paid out as distributions on a regular schedule.

Writing calls caps the fund's participation in sharp gains in MARA stock, while it remains exposed to most of the stock's declines.