APLY ETF Profile

Family:	Elevate Shares
Name:	YieldMax AAPL Option Income Strategy ETF

Inception Date:	18-Apr-2023
Termination Date:
Investment Objective:	The YieldMax APLY Option Income Strategy ETF (APLY) is an actively managed fund that seeks to generate monthly income by selling/writing call options on AAPL. APLY pursues a strategy that aims to harvest compelling yields, while retaining capped participation in the price gains of AAPL. The Fund's synthetic covered call strategy consists of the following three elements, each of which is described in greater detail further below: Synthetic long exposure to AAPL, which allows the Fund to seek to participate in the changes, up or down, in the price of AAPL's stock.Covered call writing (where AAPL call options are sold against the synthetic long portion of the strategy), which allows the Fund to generate income. U.S. Treasuries, which are used for collateral for the options, and which also generate income.

Prospectus

Top 10 Holdings
United States Treasury Bill 06/13/2024	912797FS1	49.0200%
United States Treasury Note/Bond 0.75% 11/15/2024	91282CDH1	48.6100%
AAPL 05/17/2024 170.01 P		-3.9000%
AAPL US 05/17/24 C170		2.4800%
United States Treasury Note/Bond 2.625% 04/15/2025	US91282CEH07	2.4000%
Cash & Other		1.5600%
AAPL US 04/26/24 C172.5		-0.1800%
	Top 10 Holdings Weight:	100.0%