The YieldMax Carvana Co. Option Income Strategy ETF announced a weekly dividend distribution on May 21, with a payout of $0.3130 per share. The fund trades under the ticker symbol CVNY.

Listed on the NYSE Arca exchange on January 29, 2025, this actively managed ETF has a total expense ratio of 0.99%. Its core strategy involves a synthetic covered call spread, primarily generating income by selling call option spreads on Carvana Co. stock. The fund holds short-term U.S. Treasury securities as collateral for these options trades, which also provides additional interest income. The fund does not invest directly in Carvana Co. shares. Its primary investment objective is to provide investors with consistent weekly income, with a secondary goal of maintaining a degree of participation in the price movements of Carvana Co.

According to data disclosed on the fund's website, CVNY has approximately $23.66 million in assets under management. As of May 13, its net asset value per share was $24.91, and its 30-day SEC yield was 2.42%. Since its inception, the fund has achieved a cumulative net return of 51.83%.

It is important to note that while this strategy can generate a steady stream of weekly income, it caps potential upside gains. If Carvana Co.'s stock price rises significantly, the fund cannot fully capture that appreciation. Conversely, the fund remains fully exposed to downside risk. A significant portion of past distributions may have constituted a return of capital, which can reduce the fund's net asset value and trading price over time. Investors should be aware of these associated risks.