TEST vs TSLY: Grades, Fees and Holdings Compared

YieldMax TSLA Performance & Distribution Target 25 ETF

TESTCCboe

YieldMax TSLA Option Income Strategy ETF

TSLYBNYSE Arca

Overlap

76.5%by weight

Expense ratio

TEST −0.06pt a year

TEST1.01%TSLY1.07%

Avg volume · 30D

TSLY 255.4×the volume

TEST1.92KTSLY490K

TEST vs TSLY Performance

Dec 31, 2025 – Oct 30, 2026

−8.4%TEST−7.4%TSLY

Expense ratio: TEST 1.01%, better; TSLY 1.07%
Fund size: TEST $2M; TSLY $662M
1Y total return: TEST No data; TSLY −8.3%
Yield (12M): TEST No data; TSLY 74.09%
Holdings: TEST 9; TSLY 11
Avg volume (30D): TEST 1.92K sh; TSLY 490K sh, better
NAV per share: TEST $39.37; TSLY $22.48
52W range

ETF.net Grade

Pillar letters and Scores for TEST, TSLY, with each pillar’s weight
Pillar	TEST	TSLY
Cost30% weight	B57Higher	D37
Mission25% weight	Not scored	A70
Risk15% weight	B55Higher	C43
Tradability15% weight	D34	A71Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	D33	A88Higher

Rank among Tesla (TSLA) Option Income funds

How we build Categories ›

Same Category. TEST and TSLY are both graded against the same 9 Tesla (TSLA) Option Income funds, so their Grades compare head to head.

Tesla (TSLA) Option Income⁠

Category · 9 funds

See all 9 ›

TSLY ranks 2nd and TEST 6th of 9 funds in the Tesla (TSLA) Option Income Category.

Rank 1BCRSHYieldMax Short TSLA Option Income Strategy ETFScore 57
Rank 2BTLAGraniteShares Autocallable TSLA ETFScore 55
Rank 2BTSLPKurv Yield Premium Strategy Tesla ETFScore 55
Rank 2BTSLYYieldMax TSLA Option Income Strategy ETFScore 55
Rank 5CTSYYGraniteShares YieldBOOST TSLA ETFScore 42
Rank 6CTESTYieldMax TSLA Performance & Distribution Target 25 ETFScore 40
Rank 6CTYYYxETFs TSLA Daily Income ETFScore 40

Our read on each fund

ETF.net Research

TESTCYieldMax TSLA Performance & Distribution Target 25 ETF

TSLYBYieldMax TSLA Option Income Strategy ETF

In short

TEST No data

TSLY One stock, one job: convert Tesla's famous volatility into monthly income. TSLY sells call spreads on TSLA rather than plain covered calls, harvesting premium while keeping a slice of the upside in play.

Stated mandate

TEST No data

TSLY TSLY seeks to generate weekly income by selling call spreads on Tesla Inc. The strategy aims to harvest option premiums from Tesla's volatility while retaining some participation in its share-price appreciation.

Why people hold it

TEST No data

TSLY Sells call spreads on Tesla instead of writing plain covered calls, so some share-price appreciation stays on the table while premium is collected.yieldmaxetfs.com
Running since 2022, actively traded, and paying on a monthly cadence. The plumbing is well worn by the standards of single-stock income funds.
Rates as one of the stronger builds on the Tesla-income shelf, where execution quality varies widely between competing wrappers.

Worth knowing

TEST No data

TSLY You do not own Tesla stock here. Exposure is assembled synthetically with options, and the short calls cap how much of a big TSLA run you keep.
Income comes from Tesla option premiums, so the size of the payout moves with volatility rather than following a fixed dollar schedule.
The 1.07% fee is the middle of this cohort, not the floor: TSII runs 0.99%, while TSYY charges 3.11% for its own Tesla income spin.

Full TEST profile⁠

Full TSLY profile⁠

TEST vs TSLY Holdings

How TEST and TSLY differ

Overlap by weight

76.5%

Shared holdings make up 94.7% of TEST and 84.3% of TSLY.

Level by level

Asset classEquity, Alternatives0.0%
Holdings6 in both76.5%
Countryby domicile100%

Sector

No Sector split for TEST and TSLY.

Country, concentration and asset class

Country by domicile

Country weights in TEST and TSLY, widest gap first
Country	More in TESTMore in TSLY	TEST	TSLY
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

TEST109.3%
TSLY103.7%

Securities held

TEST8
TSLY11

Asset class

TEST: Equity
TSLY: Alternatives

Holdings

Only in TEST2
In both6
Only in TSLY5

Only in TEST

2 securities, 3.3% of TEST by weight

Tsla Us 11/20/26 C4101.87%
Tsla Us 11/20/26 C4051.47%

Only in TSLY

5 securities, 19.5% of TSLY by weight

United States Treasury Note/Bond 3.375% 09/15/202718.78%
Tsla Us 11/06/26 C4150.27%
Tsla Us 11/06/26 C422.50.23%
Tsla Us 11/06/26 C4250.14%
Tsla Us 11/06/26 C4200.10%

Weight gaps

All 6 Holdings in both funds, largest gap first.

Holding weights in TEST and TSLY, widest gap first
Holding	More in TESTMore in TSLY	TEST	TSLY
United States Treasury Bill 12/10/2026	TEST +12.69 points	31.11%	18.42%
United States Treasury Note/Bond 2.375% 05/15/2027	TSLY +7.46 points	16.75%	24.21%
First American Government Obligations Fund 12/01/2031	TEST +2.01 points	2.49%	0.48%
United States Treasury Bill 07/08/2027	TEST +1.80 points	18.32%	16.52%
United States Treasury Bill 02/18/2027	TEST +1.74 points	16.71%	14.97%
Tsla 11/20/2026 370.01 C	TSLY +0.37 points	9.34%	9.71%

All TEST holdings⁠All 10 TSLY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

TEST vs TSLY Cost

Overpaying TSLY vs TEST

$965

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

TEST 1.01%
$18,850
TSLY 1.07%
$19,815

Amount$10,000

Years30 years

Cost over time

TEST 1.01%
TSLY 1.07%
Overpaying

Year by year

Year	TEST	TSLY	Overpaying
10	$1,780	$1,881	$101
20	$6,686	$7,046	$360
30	$18,850	$19,815	$965

Expense ratio

1.01%TEST, cheaper
1.07%TSLY

TEST1.01%TSLY1.07%

0.85%1.52%

Middle half of Tesla (TSLA) Option Income funds
Median 1.05%

TEST 4th cheapest of 9 funds

TSLY 6th cheapest of 9 funds

TEST vs TSLY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): TEST No data; TSLY 74.09%
Payout (12M): TEST No data; TSLY $16.69
Last payment: TEST $0.18; TSLY $0.22
Ex-dividend: TEST Oct 27, 2026; TSLY Oct 29, 2026
Paid on: TEST Oct 28, 2026; TSLY Oct 30, 2026
Frequency: TEST Weekly; TSLY Weekly

Distribution history

Per share, 2026, same scale for both

TESTWeekly · 43 paymentsAll TEST payments⁠

TSLYWeekly · 44 paymentsAll TSLY payments⁠

TEST vs TSLY Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: TEST No dataTSLY 41.0%
Return per unit of riskSharpe ratio, 3 years: TEST No dataTSLY 0.43
Worst fallMax drawdown, 5 years: TEST No dataTSLY −49.3%since Nov 2022
Market sensitivityBeta, 5 years: TEST 0.98TSLY 1.43; Market = 1

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