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TESTYieldMax TSLA Performance & Distribution Target 25 ETF

Get incomeTake a betNewRanked #896 of 949 in this goal

Seeks current income and indirect exposure to the share price of Tesla, Inc.

By YieldMax ETFs · Launched 2025

Annual Cost

1.01%

#5,243 of 5,861 · expensive

Fund Size

$5M

#5,260 of 5,861 · small

Dividend YieldGoal

—

Track Record

9 months

#4,873 of 5,861 · young

Performance

Total-return NAV · USD
Growth of $10,000
$8,239-17.6%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Strategy

Option income

What it actually holds

By weight

Concentration

single-stock bet — holdings shown are derivatives collateral, not diversification

TREASURY BILL
29.2%
TREASURY BILL
29.2%
TREASURY BILL
28.1%
First American Government Obli
11.5%
N/A
6.1%
N/A
1.3%
N/A
0.4%
N/A
-1.4%
N/A
-1.5%
N/A
-3.7%

Asset allocation

Cash
84.9%
Bonds
13.3%
Other
8.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
N/A
Max drawdown
-31.8%Severe

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks current income and indirect exposure to the share price of Tesla, Inc.
Strategy
Actively managed ETF that combines synthetic long exposure to TSLA with options strategies to generate premiums. Aims for a target annual cash distribution of 25% of net asset value, with significant allocation to cash and U.S. Treasuries for liquidity.
Inception date
November 17, 2025
Fund family
YieldMax ETFs

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Critical

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Single stock
Warning

A fund-sized fee to own one company

This wraps a single stock, usually with an options overlay on top. You pay 0.50% to 1.00% a year for exposure you could hold directly, and any income comes from selling off your own upside. Owning the share itself costs less and keeps that upside intact.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023) · Israelov & Nielsen, 'Covered Calls Uncovered' (Financial Analysts Journal 2015)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04