YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY)

The YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (ticker QDTY) is an actively managed exchange-traded fund from YieldMax, the ETF brand advised by Tidal. Its primary goal is to generate current income, with a secondary aim of participating in some of the price movement of the Nasdaq-100 Index.

The fund obtains exposure to the Nasdaq-100, either through holdings of index-linked securities or through options-based synthetic positions, and sells call options that expire on the same trading day they are written, known as zero-days-to-expiration (0DTE) options. Writing these short-dated calls collects option premium that funds the fund's frequent distributions.

Because the calls cap gains on the days they are written, the fund forgoes part of the index's upside when the market rallies sharply, while remaining exposed to most of its declines. Holdings also include U.S. Treasuries and cash used as collateral.