YieldMax CVNA Option Income Strategy ETF
$18.04−0.44 (−2.40%)
- Expense ratio
- 1.09%
- Fund size
- $21M
- 1Y return
- −8.4%
- Yield · Last 12 months
- 109.88%
- Holdings
- 12
- Volume · 30D
- 0M sh
- NAV per share
- $18.78
- 52W range
The ETF.net CVNY Grade
Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 16Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 70Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 41Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 48Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 55Category rank
Our read on CVNY
CMost option-income funds sell calls and cap you out. CVNY sells call spreads on Carvana instead, buying back an upper strike so some of the stock's appreciation stays on the table while premium comes in. Launched 2025, pays monthly.
The fund seeks weekly income by systematically selling call spreads on Carvana Co. while retaining participation in the stock's appreciation.
Why people hold it
- Call spreads, not plain covered calls. The bought upper strike is the whole point: the fund keeps participation in Carvana's appreciation instead of handing all of it to the option buyer.yieldmaxetfs.com
- The option book is run for weekly income; cash goes out to shareholders monthly. A steady cadence rather than a quarterly wait.
- The 1.09% fee sits right around what single-stock option income funds typically charge. The spread structure doesn't cost extra versus plainer siblings like TSMY or BRKC.
- Sits in the upper half of a crowded single-stock option income field, and the fund has run the strategy its documents describe.
Worth knowing
- The Carvana exposure is built synthetically with options, not by owning shares. You hold a derivatives package tracking the stock, not the stock.
- A small fund that trades thinly, so bid/ask spreads can run wider than in heavily traded ETFs and fills need more care.
- One stock, one story. The spread softens the upside cap but does nothing to spread out Carvana-specific risk, and the fee is far above a broad index fund's.
CVNY Holdings
- Stocks
- 12
- 122%
- United States Treasury Bill 02/18/2027
Geography
CVNY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CVNY |
|---|---|
| Year to date | −16.3% |
| 1 month | −4.9% |
| 3 months | +0.9% |
| 1 year | −8.4% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CVNY |
|---|---|---|
| 2026 YTD | −16.3% | |
| 2025 | +59.7% |
CVNY in the news
ETF.net Research hasn’t filed on CVNY yet — coverage lands here as it’s written.
CVNY Dividends
- 109.88%
- $20.31
- $0.22 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 17, 2026 | Sep 18, 2026 | $0.22 |
| Sep 10, 2026 | Sep 11, 2026 | $0.26 |
| Sep 3, 2026 | Sep 4, 2026 | $0.32 |
| Aug 27, 2026 | Aug 28, 2026 | $0.33 |
| Aug 20, 2026 | Aug 21, 2026 | $0.30 |
| Aug 13, 2026 | Aug 14, 2026 | $0.32 |
| Aug 6, 2026 | Aug 7, 2026 | $0.30 |
| Jul 30, 2026 | Jul 31, 2026 | $0.30 |
| Jul 23, 2026 | Jul 24, 2026 | $0.29 |
| Jul 16, 2026 | Jul 17, 2026 | $0.31 |
| Jul 9, 2026 | Jul 10, 2026 | $0.30 |
| Jul 2, 2026 | Jul 6, 2026 | $0.28 |
CVNY Risk
- 45.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.62
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −41.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.39
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CVNY Cost
- The middle half of Single-Stock Option Income funds
- Median 1.07%
58 of the 71 Single-Stock Option Income funds charge less.