Options for Your Income®
Distribution Rate* : 43.67%
Investment Manager
Source: Bloomberg / HANetf. Data As of 15.10.2026.*PLEASE NOTE: The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF’s Distribution per Share by fifty-two (52), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return.
Weekly income potential
The fund is designed with the aim to deliver consistent weekly income by selling options on global semiconductor companies. This options-based approach seeks to harness market volatility to generate attractive, recurring cash flow for investors.
Diversified portfolio
CHPY offers exposure to a carefully curated portfolio of companies with exposure to the global semiconductor industry. Holdings are selected based on liquidity, volatility, and market potential, providing investors with diversified access to the evolving semiconductor sector.
Growth through innovation
In addition to income generation, the fund aims to capture long-term capital appreciation through direct equity exposure to innovative semiconductor companies. By combining income and growth potential, CHPY offers a balanced strategy for investors seeking participation in the advancement of semiconductor technologies.
Option income ETFs aim to deliver consistent weekly income by selling options on global defence companies. This approach seeks to harness market volatility to generate attractive, recurring cash flow for investors.
Compounding potential
Any income received via option income ETFs can be automatically reinvested into the strategy to benefit from the advantages of compounding.
Growth potential
In addition to income generation, the option income ETFs may also aim to capture long-term capital appreciation through direct equity exposure. By combining income and growth potential, these ETFs may offer a balanced strategy for investors.
YieldMax® UCITS ETFs are a family of actively managed exchange-traded funds designed to deliver attractive weekly income through option-income strategies. Each fund employs an actively managed options-based approach that seeks to harness market volatility by selling call options on select equities.
YieldMax® UCITS ETFs seek to capture option premium income while maintaining exposure to the underlying share price performance of high-quality stocks. In addition to providing weekly income potential, the funds aim to deliver long-term capital appreciation through strategic equity selection and disciplined risk management, offering investors an efficient, transparent way to access institutional-grade options strategies within a UCITS framework.
YieldMax® Semiconductor Option Income UCITS ETF (CHPY) is an actively managed fund that seeks to generate current income and capital appreciation through investments in a portfolio of companies with exposure to the global semiconductor industry.
The fund seeks to generate income primarily by selling options contracts on its portfolio holdings, with the goal of distributing income on a weekly basis. CHPY also seeks capital appreciation through direct equity investments.
The manager evaluates potential holdings based on stock and options liquidity, price levels, and implied volatility, and regularly reviews the portfolio to determine whether to add or remove positions.
Explore how YieldMax ETFs aim to provide enhanced income potential through an options-based strategy. It outlines how these ETFs aim to generate weekly income through covered call strategies on well-known U.S. stocks.
Key Risks
When you invest in ETFs your capital is fully at risk and may not get back the amount originally invested. Exchange rates can have a positive or negative effect on returns. The value of equities and equity-related securities can be affected by daily stock and currency market movements. While the fund uses an options-based strategy which is intended to provide income, there is no guarantee that the derivative strategy will achieve this. In the event that income during the relevant period is insufficient to pay dividends as declared, the Directors may in their discretion determine such dividends be paid form capital. Investors should note that where this is the case, it may result in an immediate decrease in the value of the shares of the relevant fund. The ETF may forego some capital appreciation potential, while retaining the risk of loss should the price of the underlying securities decline. Selling call options will create exposure for the ETF, as it may have to deliver the underlying securities or their value and, should the market move unfavourably, this may result in an unlimited loss. The maximum loss for the seller of a call option is potentially unlimited if the option seller does not hold the underlying securities which underlies the options.
There is currently insufficient data to display the performance history.
No. of holdings: 65
Covered call ETFs hold a portfolio of stocks, or other asset classes, either actively selected or from an index, and sell call options on those holdings or the index itself. The option premiums are then distributed to investors as income, typically on a weekly or monthly basis.
These ETFs aim to provide enhanced income, especially in flat or moderately bullish markets, although they may underperform in strongly rising markets as potential upside is capped by the sold calls. Some covered call ETFs mitigate this by writing calls on only a portion of the ETF’s holdings, with the remaining stocks being used to capture growth.
Covered call ETFs generally pay distributions on either a weekly or monthly basis, but can be other time frames including weekly or daily, funded from the option premiums collected from writing calls – or dividends from the underlying equities.
The distribution per share is the amount of income paid out by the ETF for each share owned, typically quoted weekly, monthly or quarterly.
For example, if an ETF pays $0.50 per share in a given month, and you own 1,000 shares, the calculation would be as follows:
$0.50 ×1000=$500
So, the distribution received by the investor would be $500.
The annual distribution rate is calculated by taking the most recently declared distribution per share, and calculating this by either 52 (if weekly distributing) or 12 (if monthly distributing) and then dividing the resulting amount by the ETF’s most recent NAV.
For example, if the most recent distribution per share was $1.00, and the most recent NAV was $50.00, the calculation would be as follows for a monthly distributing ETF:
($1.00 ×12)/$50.00 = 0.24 = 24%
The resulting figure (24%) reflects the yield an investor might expect to receive on an annual basis if current distribution levels continue.
It is important to note that the annual distribution rate is a projected value based on a single distribution and the most recent NAV. This is in no way a guarantee that investors will receive that distribution rate annually, and the actual annual distribution rate may differ from the projected value.
Remember that past performance is not indicative of future performance and when you invest in ETFs your capital is at risk.
The announcement date is the day the ETF provider declares the amount, and schedule, of the upcoming distribution. It signals to the market how much will be paid and when.
The ex-date (or ex-dividend date) is the date by which you must own the ETF before, to be eligible for the next distribution.
This means that if investors buy shares on or after the ex-date, they will not receive the upcoming distribution.
The record date is the date that the ETF provider determines who is eligible to receive the distribution. Only shareholders listed as of the record date will receive the payout.
The payment date is when the distribution is actually paid out to investors – either by direct deposit or credited to their brokerage accounts.
YieldMax™ has a focused expertise in actively managed income strategies, especially those involving covered calls on leading companies. The team brings deep knowledge of options markets and portfolio construction, aiming to deliver attractive income without sacrificing discipline or transparency.
Read our extensive list of FAQs on active management by clicking the button below.
A semiconductor option income strategy refers to an approach that combines exposure to semiconductor-related equities with the systematic use of options, typically covered calls, to generate additional income. The underlying exposure is usually concentrated in companies across the semiconductor value chain, including chip designers, foundries, and equipment manufacturers. Option premiums are collected by selling call options on these holdings, providing an income stream that supplements equity returns. However, this income comes at a cost: when underlying holdings rise above the option’s strike price, gains are capped and the strategy will not fully participate in strong upward moves.
Covered call strategies generate income by holding a portfolio of equities and selling call options on those same holdings. In return for selling the option, the strategy receives an upfront premium. This premium can contribute to overall returns and may provide a partial cushion in flat or mildly volatile markets. However, if the underlying stocks rise above the option’s strike price, gains may be capped because the shares may be called away or the upside is forfeited beyond that level. The balance between income generation and upside participation is a core feature of the strategy.
Semiconductor companies are often used in option income strategies because they tend to exhibit relatively high volatility compared with broader equity markets. Higher volatility typically leads to higher option premiums, which can increase the income generated from selling call options. The sector’s structural growth drivers — including artificial intelligence, cloud computing, and data infrastructure — also support sustained investor demand and trading activity, which can contribute to maintaining elevated implied volatility and therefore option premium levels over time. However, the same volatility that enhances income potential can also lead to sharper drawdowns, making risk management an important consideration in this type of exposure.
Performance in semiconductor equities is primarily driven by global demand for computing power, data infrastructure, and advanced technologies such as artificial intelligence. Revenue cycles are also influenced by supply-and-demand dynamics in chip manufacturing, capital expenditure from large technology firms, and pricing cycles in memory and logic chips. Leading chip designers and hardware manufacturers have become closely associated with AI infrastructure build-out, meaning earnings expectations and valuations across the sector can be sensitive to shifts in AI adoption forecasts and technology capital expenditure cycles. Macro factors, including interest rates and global industrial demand, can also impact valuations and earnings expectations.
The key trade-off in an option income approach is between generating regular income and participating fully in market upside. While option premiums can provide additional return streams, they typically come with a cap on gains if underlying securities rise significantly above the strike price. This means the strategy may underperform in strongly trending bull markets. On the other hand, in sideways or moderately volatile markets, the income component may enhance total returns. Investors researching this type of strategy often consider how much upside participation they are willing to exchange for income generation.
Key risks include equity market volatility, sector concentration, and capped upside potential. Semiconductor equities can experience sharp price swings due to cyclical demand, inventory adjustments, and changes in technology spending. The use of options can limit participation in strong upward movements, potentially causing underperformance during rallies. In addition, if markets decline significantly, option premiums may not fully offset equity losses. Liquidity and derivative market conditions can also affect strategy outcomes. As a result, returns may differ materially from holding the underlying semiconductor equities directly.
Volatility is a key driver of option pricing, with higher volatility generally leading to higher option premiums. In semiconductor markets, earnings cycles, supply constraints, and rapid shifts in technology demand can contribute to elevated volatility levels. This can enhance the income generated through covered call writing. However, higher volatility also signals greater potential for large price movements, both up and down, which introduces additional risk. Therefore, while volatility can improve income generation, it also increases the likelihood of significant deviations in underlying equity performance.
A UCITS option income structure combines equity exposure with systematic option writing, which alters the return profile compared with direct equity investment. Instead of fully participating in market gains, upside is typically partially capped in exchange for option premium income. This can lead to more consistent income distributions in certain market environments but may result in lower total returns during strong equity rallies. The UCITS framework adds a layer of investor protection through rules on diversification, counterparty exposure, and liquidity — meaning the portfolio must be constructed within regulatory limits that are designed to manage risk, which can influence how options positions are sized and structured compared with unregulated alternatives.
Relevant semiconductor stocks may include chip designers, memory producers, foundries, equipment suppliers and companies enabling AI and advanced computing. Examples include Nvidia, Micron Technology, Broadcom, Advanced Micro Devices, Marvell Technology, Lam Research, Intel, United Microelectronics, Astera Labs and Arm Holdings. These companies sit at different points in the semiconductor value chain, from GPUs and networking chips to memory, fabrication equipment and processor architecture. Investors researching the space should consider demand from AI and data centres, cyclicality in chip pricing, supply-chain concentration, capital expenditure cycles and geopolitical risks around advanced manufacturing. Company relevance can change quickly as technology leadership and end-market demand evolve.
Disclaimer: These FAQs have been generated with the assistance of AI and may contain errors or omissions. They are provided for general information only and do not constitute investment advice, a recommendation, or an invitation to buy or sell any investment.
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YieldMax® discloses latest distribution rates for its European products highlighting the covered call strategy’s income potential - September 2026
YieldMax® Semiconductor Option Income UCITS ETF moves to weekly distributions as demand for frequent income grows
YieldMax® discloses latest distribution rates for its European products highlighting the covered call strategy’s income potential - August 2026
YieldMax® discloses latest distribution rates for its European products highlighting the covered call strategy’s income potential - April 2026
YieldMax® discloses latest distribution rates for its European products highlighting the covered call strategy’s income potential - May 2026
YieldMax® discloses latest distribution rates for its European products highlighting the covered call strategy’s income potential - June 2026
YieldMax® discloses latest distribution rates for its European products highlighting the covered call strategy’s income potential - July 2026
YieldMax® ETFs is a leader in options-based income ETFs in the United States, with a suite of 60 ETFs that have accrued over USD 10 billion in assets under management. YieldMax® ETFs cover a broad range of underlying assets and option-based income strategies. The YieldMax® ETFs trading and portfolio management team, in partnership with Tidal Investments, has over 30 professionals possessing decades of option trading expertise.
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