TEST Tidal Trust II - YieldMax TSLA Performance & Distribution Target 25 ETF
Quote as of Oct 23, 2026 19:43 UTC · Quotes are refreshed hourly from the data provider, so during market hours a price can be up to about 1–2 hours old; each quote shows its own timestamp.
| Previous Close | 37.98 | Day Range | 37.64 – 38.15 |
| 52-Week Range | 33.40 – 57.74 | Volume | 3.35K |
| Avg Volume | 1.90K | AUM | $1.9M (Oct 26, 2026) |
| Expense Ratio | 1.01% | Yield (TTM) | 26.76% |
| NAV | 37.59 | Premium/Discount | +0.14% indicative |
| Inception | Nov 17, 2025 | Holdings | 12 |
| Issuer | YieldMax | Exchange | CBOE |
| Category | Yieldmax | Index Tracked | Not stated in source data |
| CUSIP | 88636V546 | ISIN | US88636V5460 |
| Structure | Option Income | ||
| Management | Not stated in source data | ||
About this ETF
TEST aims for current income by combining synthetic long exposure to Tesla, Inc. (TSLA) and other options strategies, collateralized by cash and US Treasurys. TSLA engages in the design, development, manufacture, and sale of electric vehicles and energy generation and storage systems. The fund aims for monthly premiums of approximately 2.2% and an annual cash distribution target of about 25% of the funds NAV. Synthetic exposure is created by pairing long call options with short put options on TSLA, replicating the stocks price movements, subject to limits on potential gains. To generate premiums, the fund employs various options strategies, such as covered call spread that sells call options while buying calls at a higher strike, capping both profit and loss. The strategy may generate income but limits participation in potential gains if TSLA shares increase in value. On a weekly basis, the adviser uses one or more options strategies.
Description from the fund data provider · profile as of Oct 26, 2026.
Price Chart
Daily closing prices (price return, not total return). Comparison lines are normalized to percent change from the range start. Source: Financial Modeling Prep.
Performance
| 1M | 3M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | Incep.* | |
|---|---|---|---|---|---|---|---|---|---|
| Price return | -1.34% | +7.51% | -13.15% | -28.79% | — | — | — | — | -24.20% |
| Total return | +0.59% | +14.44% | -1.62% | -12.85% | — | — | — | — | -4.95% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Oct 23, 2026. Past performance does not guarantee future results.
Fees
| Net expense ratio | 1.01% | Annual cost of a $10,000 investment | $101.00 |
Illustrative calculation only: expense ratio × $10,000. It excludes trading costs, bid/ask spreads, taxes and changes in investment value. Gross vs. net expense details and any fee waivers are in the prospectus.
Holdings
Holdings list retrieved Oct 23, 2026 · The data provider's latest disclosed portfolio for this fund. Issuers publish holdings daily or monthly, so the portfolio date can be earlier; holdings are not live positions. 12 holdings stored.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | United States Treasury Bill 12/10/2026 | — | 32.41% | 615.00K | $611.8K |
| 2 | United States Treasury Bill 07/08/2027 | — | 19.08% | 371.00K | $360.1K |
| 3 | United States Treasury Note/Bond 2.375%… | — | 17.45% | 333.00K | $329.4K |
| 4 | United States Treasury Bill 02/18/2027 | — | 17.41% | 333.00K | $328.6K |
| 5 | Cash & Other | — | 11.70% | 220.84K | $220.8K |
| 6 | TSLA 11/20/2026 370.01 C | — | 5.31% | 50 | $100.3K |
| 7 | First American Government Obligations Fund… | — | 3.07% | 58.01K | $58.0K |
| 8 | TSLA US 11/20/26 C410 | — | 0.89% | 30 | $16.7K |
| 9 | TSLA US 11/20/26 C405 | — | 0.70% | 20 | $13.3K |
| 10 | TSLA US 11/20/26 C375 | — | -1.86% | -20 | -$35.2K |
| 11 | TSLA US 11/20/26 C380 | — | -2.42% | -30 | -$45.6K |
| 12 | TSLA 11/20/2026 370.01 P | — | -3.75% | -50 | -$70.8K |
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Geographic Exposure
Country weights as reported by the data provider. Developed/emerging/frontier labels follow the classification on the Methodology page. Currency hedged: No hedging indicated in the fund name.
Distributions
| Yield (TTM) | 26.76% | Paid (last 12 months) | $10.0726 |
| Frequency | Weekly | SEC yield | Not provided by our data source; see the issuer page |
| Last ex-date | Oct 20, 2026 | Last payment | $0.1736 (Oct 21, 2026) |
| Growth 1Y | — | Growth 3Y / 5Y (ann.) | — / — |
| Ex-date | Record | Pay date | Amount |
|---|---|---|---|
| Oct 20, 2026 | Oct 20, 2026 | Oct 21, 2026 | $0.1736 |
| Oct 13, 2026 | Oct 13, 2026 | Oct 14, 2026 | $0.1834 |
| Oct 06, 2026 | Oct 06, 2026 | Oct 07, 2026 | $0.1801 |
| Sep 29, 2026 | Sep 29, 2026 | Sep 30, 2026 | $0.1828 |
| Sep 22, 2026 | Sep 22, 2026 | Sep 23, 2026 | $0.1783 |
| Sep 15, 2026 | Sep 15, 2026 | Sep 16, 2026 | $0.1808 |
| Sep 09, 2026 | Sep 09, 2026 | Sep 10, 2026 | $0.1788 |
| Sep 01, 2026 | Sep 01, 2026 | Sep 02, 2026 | $0.1778 |
| Aug 25, 2026 | Aug 25, 2026 | Aug 26, 2026 | $0.1841 |
| Aug 18, 2026 | Aug 18, 2026 | Aug 19, 2026 | $0.1776 |
| Aug 11, 2026 | Aug 11, 2026 | Aug 12, 2026 | $0.1734 |
| Aug 04, 2026 | Aug 04, 2026 | Aug 05, 2026 | $0.1667 |
Trailing distribution yield = last 12 months of cash ÷ current price. It is NOT the SEC 30-day yield and distributions are not guaranteed to continue. The difference explained →
Risk Statistics
| Volatility 1Y / 3Y | 35.70% / — | Sharpe 1Y / 3Y | -0.263 / — |
| Max drawdown 1Y / 3Y | -31.78% / — | Sortino 1Y | -0.362 |
| Beta vs S&P 500 (3Y) | 0.98 | Correlation vs S&P 500 (1Y) | 0.62 |
| Downside deviation 1Y | 25.94% | Risk-free rate used | 4.04% (3M T-bill, FRED) |
Computed by ETF Explorer from daily dividend-adjusted closes; volatility and drawdown are annualized/period figures; S&P 500 exposure proxied by SPY. As of Oct 26, 2026. Formulas →
Liquidity
| Volume today | 3.35K | Average volume | 1.90K |
| AUM | $1.9M | Premium/Discount | +0.14% |
| Bid/Ask spread | Not provided by our data source. Check your broker's quote screen; spreads are widest at the open and close. | ||
Premium/discount compares the delayed market price with the last reported NAV: an indicative figure, not the official closing premium/discount. How ETF liquidity works →
Fund Flows (estimated)
| Period | Est. net flow | % of starting AUM | AUM start → end |
|---|---|---|---|
| 1 Week | -$1.8M | -48.70% | $3.6M → $1.9M |
| 1 Month | -$1.9M | -49.19% | $3.8M → $1.9M |
ETF Explorer estimate: change in reported AUM minus the market-move effect, from our own daily snapshots. Not official issuer creation/redemption data.
Official Fund Resources
External links open the issuer's site or SEC EDGAR in a new tab. The prospectus and official documents are always the authoritative source; review them before investing.
Latest News for TEST
Guided help: AUM is fund size. The expense ratio is the yearly cost baked into returns. NAV is the value of what the fund owns per share; the market price can sit slightly above (premium) or below (discount) it. Total return assumes distributions were reinvested. Every dataset shows its own as-of date because holdings, assets and quotes update on different schedules.