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YBMNDefiance BMNR Option Income ETF

Get incomeNewRanked #1,510 of 1,622 in this goal

Seeks current income and exposure to the share price of BitMine Immersion Technologies, Inc. (BMNR).

By Defiance ETFs LLC · Launched 2025

Annual Cost

0.85%

#4,336 of 5,562 · expensive

Fund Size

$3M

#5,251 of 5,562 · small

Dividend YieldGoal

—

Track Record

7 months

#5,016 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$6,131-38.7%

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

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

What it actually holds

By weight

Concentration

Top 5 holdings = 97.7% of fundconcentrated

TREASURY BILL
104.3%
N/A
2.6%
First American Government Obli
0.1%
N/A
-0.7%
N/A
-8.6%

Asset allocation

Cash
111.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
N/A
Max drawdown
-51.0%Severe

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
NASDAQ Global Select Market

Full fund details

Objective
Seeks current income and exposure to the share price of BitMine Immersion Technologies, Inc. (BMNR).
Strategy
Actively managed fund that uses covered call strategies to generate income from option premiums while providing exposure to BMNR's share price. Invests primarily in options and may hold cash and high-quality securities as collateral.
Inception date
November 24, 2025
Fund family
Defiance ETFs LLC

Our take

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

Covered call
Warning

Covered call ETF — yield ≠ total return

The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.

Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Why we flagged this: strategy=option_income + option_income_strategy

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 2026-06-20