BABO ETF Profile

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

Inception Date:	7-Aug-2024
Termination Date:
Investment Objective:	The Fund's investment objective is to seek current income and give exposure to the share price of the ADR of Alibaba Group Holding Limited ("BABA"), which is generally subject to a limit on potential investment gains. The Fund is an actively managed exchange-traded fund ("ETF") that seeks current income while providing indirect exposure to the share price (i.e., the price returns) of the ADR of BABA (NYSE: BABA), which is generally subject to a limit on potential investment gains. The Fund will employ its investment strategy as it relates to BABA regardless of whether there are periods of adverse market, economic, or other conditions and will not take temporary defensive positions during such periods. The Fund uses a synthetic covered call strategy to provide income and indirect exposure to the share price returns of BABA, which is generally subject to a limit on potential investment gains as a result of the nature of the options strategy it employs. In addition, the Fund will at times opportunistically sell a credit call spread instead of selling a call option when ZEGA Financial, LLC ("Sub-Adviser") believes doing so will be more advantageous to the Fund's total return.

Prospectus

Top 10 Holdings
Cash & Other		39.0900%
United States Treasury Note/Bond 3% 07/15/2025	91282CEY3	14.7000%
United States Treasury Note/Bond 3.875% 01/15/2026	91282CGE5	14.6300%
United States Treasury Note/Bond 2.625% 04/15/2025	91282CEH0	11.6800%
United States Treasury Bill 05/15/2025	912797LB1	9.5600%
United States Treasury Bill 06/12/2025	912797LN5	9.5600%
BABA 03/21/2025 135.01 P		-6.7000%
United States Treasury Bill 03/11/2025	912797NQ6	4.2900%
BABA US 03/21/25 C135		3.5200%
BABA US 03/07/25 C144		-0.4000%
	Top 10 Holdings Weight:	99.9%