YieldMax SMCI Option Income Strategy ETF (SMCY)

YieldMax SMCI Option Income Strategy ETF (SMCY) is an actively managed fund from YieldMax that seeks to generate current income while providing limited exposure to the share price of Super Micro Computer, Inc. (SMCI). It does not own Super Micro shares directly.

Instead, the fund builds a synthetic covered call position, using options to create exposure similar to holding the stock and then selling call options against it to collect premiums. These option positions are supported by holdings of short-term U.S. Treasury securities. The fund distributes its income frequently, while its upside participation in SMCI is capped by the calls it writes and it remains exposed to declines in the stock.

Super Micro Computer designs and builds high-performance servers, storage systems and rack-scale solutions used in AI and data center deployments.