The YieldMax XYZ Option Income Strategy ETF (XYZY), launched on October 10, 2023, is an actively managed fund that aims to generate current income for its shareholders. The ETF's strategy is to sell "synthetic covered calls" on Block, Inc. (formerly known as Square, ticker: SQ). By using a combination of options, the fund seeks to mimic the performance of the underlying stock while generating premium income from the sale of call options. XYZY makes distributions on a monthly basis.
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