Tidal Financial Group Launches Two New ETFs Focused on YieldMax Strategy
Tidal Financial Group, a leading ETF investment and technology platform, has announced the launch of two new ETFs: the YieldMax TSLA Option Income Strategy ETF (NYSE:TSLY) and the YieldMax Innovation Option Income Strategy ETF (NYSE:OARK). These funds, actively managed by ZEGA Financial, aim to provide current monthly income and capped participation in price gains through a synthetic covered call strategy on Tesla, Inc (TSLA) and the ARK Innovation ETF (ARKK).
The decision to launch these YieldMax ETFs comes at a time when yield has never been more important. With a focus on delivering meaningful monthly yields to investors through alternative income strategies, Tidal Financial Group believes that the synthetic covered call strategy on TSLA and ARKK is an effective way to potentially benefit from volatility and produce significant monthly income.
Gavin Filmore, COO of Tidal Financial Group, expressed excitement about being the platform of choice for the YieldMax and ZEGA teams to introduce these new funds. He believes that in a time of high volatility and a growing demand for alternative sources of income, these funds offer the potential for very attractive monthly yields. Filmore also stated that Tidal is dedicated to providing the platform for innovative products like these to be launched and grown.
Jay Pestrichelli, Co-Founder and CEO of ZEGA Financial, highlighted the unique investment proposition that TSLY and OARK ETFs offer. By limiting a portion of monthly appreciation in TSLA and ARKK, investors have the potential to receive compelling monthly income. Pestrichelli also noted that this strategy is an adoption of the time-honored covered call tactic, which aims to harvest attractive yields from assets not typically associated with income.
Tidal Financial Group and ZEGA Financial are committed to ETF innovation and providing issuers with the intelligence and tools needed to efficiently and effectively launch ETFs. ZEGA Financial, the sub-adviser for the YieldMax funds, specializes in derivatives uncertain markets through innovative hedging strategies.
