DRAY ETF Profile

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

Inception Date:	14-Jul-2025
Termination Date:
Investment Objective:	YieldMax DKNG Option Income Strategy ETF is an actively managed exchange-traded fund that seeks current income while providing indirect exposure to the share price (i.e., the price returns) of the common stock of Draftkings, Inc (Nasdaq: DKNG), which is generally subject to a limit on potential investment gains. The Fund will employ its investment strategy as it relates to DKNG 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 either a synthetic covered call strategy or synthetic covered call spread strategy to provide income and indirect exposure to the share price returns of DKNG, which is generally subject to a limit on potential investment gains as a result of the nature of the options strategy it employs. The Fund not only seeks to generate income from its options investments but also aims to derive gains when the value of DKNG increases.

Prospectus