At a glance
FEAT charges 0.93% a year, above the 0.86% average of the 7 funds most like it (the 6th cheapest of 8). It has $11.3M in assets, the 8th largest of that group; it paid 71.5% of its price in distributions over the past 12 months, monthly. Over the past year it returned −39.9% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds.
The short version
YieldMax Dorsey Wright Featured 5 Income ETF (FEAT) is a fund of funds that tracks the Nasdaq Dorsey Wright Tactical Option Income Strategy Index by owning five YieldMax option-income ETFs, each tied to one stock or fund. A momentum ranking decides which five it holds, and it pays out cash every month. Its trailing 12-month yield was 71.5% as of October 26, 2026, but its share price fell 39.9% over the same 12 months.
Price history
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FEAT -39.9% over the year to Oct 26, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FEAT price data to Oct 26, 2026 | -33.8% | -39.9% | — | — | — | -25.8% |
- Over the year to Oct 26, 2026, FEAT returned -39.9%, 8th of 8 among similar funds.
- Its worst full calendar year was 2025 (-4.5%); its best was 2025 (-4.5%).
- The deepest fall in its price history was 47.8% (Oct 9, 2025 to Aug 11, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -33.8% |
| 2025 | -4.5% |
| 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) | $58.3000 | |
| 2025 | $209.9900 |
What's inside
As of Apr 30, 2026, the fund held 5 securities; the ten largest made up 98.3% of assets.
| Fund held | Weight | |
|---|---|---|
| YieldMax GOOGL Option Income Strategy ETF | 23.58% | |
| Yieldmax Tsm Option Income Strategy ETF | 22.66% | |
| YieldMax NVDA Option Income Strategy ETF | 21.14% | |
| YieldMax MRNA Option Income Strategy ETF | 16.98% | |
| Yieldmax CRCL Option Income Strategy ETF | 13.94% |
By country
United States 98.3%By asset type
Stocks 98.3%What changed recently
- Over the three months to Apr 30, 2026, investors withdrew a net $41K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -7.34%, -2.09%, +8.04%.
How it works
FEAT is an index fund that tracks the Nasdaq Dorsey Wright Tactical Option Income Strategy Index. The index picks only from YieldMax ETFs. It leaves out YieldMax funds of funds, inverse (short) funds and funds that aim for a set payout level. It ranks the stock or fund each YieldMax ETF follows, not the ETF itself. To do this, it uses Point & Figure charts, which record only large moves in closing prices, to measure each name's relative strength (its momentum) against the others.
The index holds the YieldMax ETFs tied to the top five names, and each is reset to about 20% at a monthly rebalance. A holding is replaced only if its name slips to 8th place or lower, which aims to limit trading. Even so, its turnover (a year's trading as a share of the portfolio) was 159%. As of April 30, 2026, FEAT held the YieldMax ETFs on Alphabet (23.6%), Taiwan Semiconductor (22.7%), Nvidia (21.1%), Moderna (17.0%) and Circle (13.9%).
None of these ETFs owns its stock. Each uses options (and sometimes swaps) to track the share price. It then collects cash up front by giving up gains above a set price (a call option). As a result, FEAT holds the names with the strongest momentum but captures only part of any further rise. Payouts can include investors' own money handed back, which wears down share value over time. The YieldMax bitcoin fund, which tracks a bitcoin-futures ETF, can also be picked.
What it really costs
- FEAT charges 0.93% a year, versus an average of 0.86% for the similar funds below (6th of 8, cheapest first).
- Of that, 0.29% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $95 in the first year and $1,143 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FEAT | $95 | $296 | $515 | $1,143 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It aims for large monthly income, but with five single-stock option funds, price swings (volatility) of 39.8% over one year and a drop of about 48%, it carries far more risk than a typical income fund.
FEAT could add a large monthly payout. Its trailing 12-month yield was 71.5% as of October 26, 2026. That income came with steep losses. FEAT launched in December 2024, so it has no record from the 2008, 2020 or 2022 downturns. It lost 4.5% in 2025, its only full calendar year, and 33.8% in 2026 through October 26. It fell about 48% from October 9, 2025, to August 11, 2026, and had not recovered by October 26, 2026. Anyone who needs cash in a slump might have to give up shares at low prices. Payouts that hand back capital shrink the balance further.
Because FEAT owns other funds, costs stack up. Its expense ratio (yearly fee) is 0.93%. In the SEC's standard example, $10,000 invested would cost $95 over one year and $1,143 over 10 years. 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
- Income seekers who want monthly payouts and accept that FEAT's 71.5% trailing yield (as of October 26, 2026) can include investors' own capital.
- Investors who want a momentum ranking to rotate among YieldMax option-income funds, such as those on Nvidia and Alphabet, instead of choosing themselves.
- Investors who keep it to a small, higher-risk slice and can live with drops like its fall of about 48% from October 2025 to August 2026.
Look elsewhere if
- Investors who need a steady balance: FEAT's share price fell 39.9% in the 12 months to October 26, 2026.
- Investors who want options to cushion losses: FEAT has no downside buffer, unlike buffer ETFs such as FT Vest Laddered Buffer ETF (BUFR).
- Investors who want broad diversification or low costs: FEAT held just five funds as of April 30, 2026, and charges 0.93% a year.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| FEAT this fund | 0.93% | $11.3M | -39.9% | — |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Does FEAT pay monthly dividends?
Yes. FEAT pays distributions, its version of dividends, every month. Its trailing 12-month yield was 71.5% as of October 26, 2026. Amounts can vary widely and aren't guaranteed. Most of the YieldMax ETFs it holds aim to pay weekly from option income. That income is usually taxed as ordinary income rather than at the lower rates for qualified dividends. Payouts can also include investors' own capital handed back, which lowers share value.
Why is FEAT's yield so high?
Mostly because of options and a falling price. The YieldMax ETFs FEAT owns collect option premiums (upfront fees) by giving up a stock's gains above a set price, and they pay much of that cash out. Part of a payout may also be investors' own capital handed back. FEAT's trailing yield was 71.5% as of October 26, 2026, while its share price fell 39.9% over the same 12 months. A lower price also pushes the yield figure up, because the same payouts are divided by a smaller number.
What does FEAT invest in?
FEAT owns five YieldMax option-income ETFs rather than stocks. As of April 30, 2026, they were the YieldMax ETFs tied to Alphabet (GOOY, 23.6%), Taiwan Semiconductor (TSMY, 22.7%), Nvidia (NVDY, 21.1%), Moderna (MRNY, 17.0%) and Circle (CRCO, 13.9%). The lineup can change each month when the momentum ranking of the Nasdaq Dorsey Wright Tactical Option Income Strategy Index shifts. Tidal Financial Group is the issuer. Net assets were about $11.3 million on April 30, 2026, which is small for an ETF.
What's the difference between FEAT and NVDY?
NVDY follows one stock, Nvidia, while FEAT spreads its money across five YieldMax ETFs. NVDY made up 21.1% of FEAT as of April 30, 2026. FEAT would drop NVDY if Nvidia's momentum rank slipped to 8th or lower at a monthly review. Both limit upside, and both make payouts that can hand back capital. FEAT's expense ratio is 0.93%, including a 0.29% management fee. Its prospectus notes that owning FEAT costs more than holding the YieldMax ETFs directly.
Is FEAT good for retirement income?
It may suit only a small, higher-risk part of a retirement portfolio. FEAT's trailing yield was 71.5% as of October 26, 2026, but it lost 4.5% in 2025 and 33.8% in 2026 through October 26. It fell about 48% from October 2025 to August 2026 and had not recovered by October 26, 2026. Volatility, a measure of price swings, was a high 39.8% over the year to October 26, 2026. FEAT launched in December 2024, so it has no record from the 2008, 2020 or 2022 downturns.