At a glance
DCAP charges 0.95% a year. It has $152.3M in assets; it paid 0.89% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +18.6% with distributions reinvested (S&P 500: +11.5%). Its ten largest positions make up 28.1% of the fund, out of 391 in all.
The short version
Unity Wealth Partners Dynamic Capital Appreciation & Options ETF (DCAP) is a Tidal Financial Group fund. As of July 31, 2026, it held 391 mostly US stocks, led by NVIDIA and Microsoft. The word "Options" is in its name, but that holdings report listed no options or other derivatives. About 35% of the fund is in technology, and its record only goes back to July 2024. It behaves more like a tech-tilted US stock fund than an income fund.
Price history
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DCAP +18.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| DCAP price data to Oct 27, 2026 | +18.6% | +18.6% | — | — | — | +10.6% |
- Over the year to Oct 27, 2026, DCAP returned +18.6%.
- Its worst full calendar year was 2025 (+1.8%); its best was 2025 (+1.8%).
- The deepest fall in its price history was 20.7% (Feb 19, 2025 to Apr 8, 2025), recovered by Sep 24, 2026.
Show as a table
| Year | Price data |
|---|---|
| 2025 | +1.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2200 | |
| 2025 | $0.0200 |
What's inside
As of Jul 31, 2026, the fund held 391 securities; the ten largest made up 28.13% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 7.79% | |
| MICROSOFT CORPORATION | 5.05% | |
| CISCO SYSTEMS, INC. | 2.94% | |
| BROADCOM INC. | 2.73% | |
| WALMART INC. | 1.73% | |
| BERKSHIRE HATHAWAY INC. | 1.68% | |
| ELI LILLY AND COMPANY | 1.67% | |
| MASTERCARD INCORPORATED | 1.56% | |
| EXXONMOBIL HOLDINGS CORPORATION | 1.56% | |
| MICRON TECHNOLOGY, INC. | 1.43% | |
| ADVANCED MICRO DEVICES, INC. | 1.34% | |
| ARISTA NETWORKS, INC. | 1.32% | |
| APPLIED MATERIALS, INC. | 1.23% | |
| THE HOME DEPOT, INC. | 1.19% | |
| TESLA, INC. | 1.02% |
By country
United States 95.22%Ireland 2.44%Switzerland 0.94%Luxembourg 0.44%Canada 0.3%By asset type
Stocks 99.86%By sector
Sectors of the companies held, for the 85.4% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $19K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.79%, +1.03%, -1.11%.
How it works
DCAP is an exchange-traded fund from Tidal Financial Group, launched in July 2024 under the Unity Wealth Partners name. The name signals its aims: capital appreciation (growth in share value) and the use of options. Its core is a broad stock portfolio. Its Form N-PORT, a holdings report funds file with the SEC, listed 391 positions as of July 31, 2026, with 99.86% of assets in stocks and about 95% in US companies.
Technology made up about 35% of assets. NVIDIA was the largest holding at 7.8%, followed by Microsoft at 5.0%, Cisco Systems at 2.9% and Broadcom at 2.7%; the top 10 together came to about 28%. Next come non-tech names such as Walmart, Berkshire Hathaway, Eli Lilly, Mastercard and ExxonMobil, each near 1.6% to 1.7%.
Despite the name, the July 31, 2026 report listed no options or other derivatives (contracts whose value tracks another asset), and no cash. Funds that add options to a stock portfolio often write call options, taking in a payment called a premium but capping some upside, or purchase put options, which cost money but cushion losses. So the snapshot doesn't show how often or how heavily DCAP uses options; the prospectus sets those rules. Income is modest: the yield was 0.89% as of October 27, 2026, paid twice a year.
What it really costs
- DCAP charges 0.95% a year.
- Of that, 0.75% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.1% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $107 in the first year and $— over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DCAP | $107 | $334 | $— | $— |
In a retirement portfolio
DCAP is a tech-heavy stock fund with a short record and a small yield, so it fits better as an addition to a broad core holding than as the main piece.
DCAP launched in July 2024, so it has no record through the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. In 2025, its only full calendar year, it returned about 1.8%. Its deepest drop was 20.7%, from February 19 to April 8, 2025. It did not get back to that peak until September 24, 2026, about 17.5 months later. Anyone who sold shares to pay for spending during that stretch would have locked in losses. Over the year to October 27, 2026, volatility was 24.6% and the return was 18.6%. Income is small: a trailing yield of 0.89%, paid twice a year. Confirm the expense ratio in the fund's prospectus. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking broad US stock exposure across 391 holdings, led by NVIDIA and Microsoft, as of July 31, 2026.
- Growth-minded savers comfortable with a tech tilt: technology was about 35% of assets, with NVIDIA, Broadcom, Micron and AMD among the largest holdings.
- Long-term holders who can ride out deep drops: it fell 20.7% from February to April 2025, then took about 17.5 months to recover.
Look elsewhere if
- Retirees seeking income: the yield was 0.89% as of October 27, 2026, paid twice a year, despite “Options” in the name.
- Those wanting a proven record: it launched in July 2024, and its only full calendar year, 2025, returned about 1.8%.
- Anyone wanting clear options rules: its July 31, 2026 portfolio report listed no options or other derivatives, making that part hard to gauge.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What stocks does DCAP hold?
DCAP held 391 positions as of July 31, 2026, almost all US stocks. The largest were NVIDIA at 7.8% and Microsoft at 5.0%. Cisco, Broadcom, Walmart, Berkshire Hathaway, Eli Lilly, Mastercard, ExxonMobil and Micron came next. The top 10 together made up about 28% of the fund. Technology was the biggest sector, at about 35% of the assets with sector data, ahead of financials at 10%.
Does DCAP pay a dividend?
Yes, but it is small. DCAP pays distributions twice a year. Over the 12 months to October 27, 2026, it paid about $0.22 per share, a trailing yield of 0.89%. With payments only twice a year, there are long gaps between them. Investors who need regular cash from their holdings may find the payments too small and too infrequent to rely on.
Does DCAP actually use options?
The name says it can, but the holdings report as of July 31, 2026 listed no options, swaps or other derivatives. The fund was 99.9% in stocks. An option is a contract that gives the right to buy or sell a stock at a set price by a set date. Funds that sell options collect extra income but usually give up some gains. DCAP's prospectus explains when and how the manager may use them.
How has DCAP performed since launch?
Results have been uneven over a short history. DCAP launched on July 22, 2024. It returned about 1.8% in 2025, its only full calendar year. Over the 12 months to October 27, 2026, its price return was 18.6%. Its deepest decline was 20.7%, between February 19 and April 8, 2025. It did not regain that peak until September 24, 2026. A little over two years is too short to judge a strategy.
Is DCAP good for retirement?
It may play a supporting role rather than a central one. DCAP is a stock fund with about 35% in technology and a 0.89% yield. It has no record through the 2008, 2020 or 2022 downturns. Its 20.7% drop in 2025 took about 17.5 months to recover, which is a long wait for someone living off savings. It may suit retirees who already own a broad core fund and want a tech-tilted addition.