YieldMax TSLA Performance & Distribution Target 25 ETF (TEST)

The YieldMax TSLA Performance & Distribution Target 25 ETF (TEST) is an actively managed exchange-traded fund from YieldMax that seeks to combine exposure to Tesla, Inc. (NASDAQ: TSLA) with a targeted level of income.

The fund obtains its Tesla exposure synthetically or directly and uses an options strategy, such as selling call options, to generate premium income. As its name indicates, the strategy is designed around a target annual distribution rate of about 25%, while attempting to preserve more participation in Tesla's price gains than a traditional covered-call approach. The fund does not guarantee that target, and distributions may include return of capital.

Its objective is to provide current income together with partial exposure to Tesla's share price performance.