| Investment Objective: |
YieldMax Innovation Option Income Strategy ETF primary investment objective is to seek current income. The Fund's secondary investment objective is to seek exposure to the share price of the ARK Innovation ETF ("ARKK" or "Underlying Security"), 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 ARKK (NYSE Arca ARKK) ("ARKK" or the "Underlying Security"), subject to a limit on potential investment gains. The Fund will employ its investment strategy as it relates to ARKK regardless of whether there are periods of adverse market, economic, or other conditions and will not take temporary defensive positions during such periods. As further described below, the Fund uses either a synthetic covered call strategy or a synthetic covered call spread strategy to provide income and indirect exposure to the share price returns of ARKK, subject to a limit on potential investment gains as a result of the nature of the options strategy it employs. That is, the Fund not only seeks to generate income from its options investments but also aims to derive gains when the value of ARKK increases. |
