At a glance
RDTY charges 1.73% a year. It has $30.9M in assets; it paid 43.98% of its price in distributions over the past 12 months, monthly. Over the past year it returned +12.9% with distributions reinvested (S&P 500: +11.5%).
The short version
YieldMax R2000 0DTE Covered Strategy ETF (RDTY) is an actively managed, options-based fund that gets exposure to the Russell 2000 small-company index through call options rather than owning stocks. Each trading day it sells same-day call options on the index for income, aiming to pay weekly; its trailing 12-month yield was about 44% as of October 27, 2026. The trade-offs: capped gains, payouts that may include return of capital, and a 1.73% expense ratio.
Price history
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RDTY +12.9% 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 | |
|---|---|---|---|---|---|---|
| RDTY price data to Oct 27, 2026 | +16.5% | +12.9% | — | — | — | +16.8% |
- Over the year to Oct 27, 2026, RDTY returned +12.9%.
- The deepest fall in its price history was 17.3% (Mar 24, 2025 to Apr 8, 2025), recovered by Jun 9, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +16.6% |
| 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) | $11.2400 |
What's inside
As of Jul 31, 2026, the fund held 1 securities; the ten largest made up 0.13% of assets, and 9.77% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 0.13% |
By country
United States 0.13%By asset type
Bonds and notes 0.13%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $16.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.69%, +5.40%, -0.37%.
How it works
RDTY, issued by Tidal Financial Group, is actively managed and aims for current income. Rather than owning small-company stocks, it purchases call options on the Russell 2000 Index or ETFs tracking it. A call option pays the amount by which the index finishes above a set "strike" price. These calls are "deep in the money," with strikes far below the index level, so they move nearly one-for-one with it. As of July 31, 2026, one such call made up about 88.6% of net assets.
Each business day, typically at or soon after the open, the fund sells out-of-the-money calls, with strikes above the index level, that expire the same day: "0DTE," or zero days to expiration. It collects a premium but gives up index gains above the strike. In the prospectus example, with calls sold 1% out of the money and a 3% index rise, the fund nets 1% before premium. If the index falls, premiums only partly cushion the loss.
The options are cash-settled and guaranteed by the Options Clearing Corporation, limiting counterparty risk. The fund receives none of the index companies' dividends. Premiums and Treasury interest fund the weekly distributions it seeks to pay. These can vary widely and may include return of capital, which hands back investors' own money and can erode share value.
What it really costs
- RDTY charges 1.73% a year.
- Of that, 0.99% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $176 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 |
|---|---|---|---|---|
| RDTY | $176 | $545 | $— | $— |
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.
In a retirement portfolio
Its very high payouts come with small-company stock swings, capped gains, possible return of capital, a 1.73% expense ratio and a record dating only to March 2025.
RDTY could add a large cash stream: its trailing 12-month yield was about 44% as of October 27, 2026, and it seeks to pay weekly. That cash comes from option premiums, may include return of capital and is usually taxed as ordinary income. Launched March 5, 2025, the fund has no record through the 2008, 2020 or 2022 downturns. Its deepest drop, 17.3% between March 24 and April 8, 2025, was recovered by June 9, 2025, about two months later. Because gains are capped, recovery from a longer slump may be slower, which matters for anyone selling shares or drawing income in a bad year.
Costs are high: the 1.73% expense ratio means $176 on $10,000 in the first year and $545 over three years, under the SEC's standard example. Past results don't predict future ones, 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 large, frequent cash payouts: RDTY seeks to pay weekly and yielded about 44% over the 12 months to October 27, 2026.
- Those wanting Russell 2000 small-company exposure with option premiums as a partial cushion, who accept giving up gains on strong up days.
- Investors who can tolerate small-cap swings, like its 17.3% drop from March 24 to April 8, 2025, in exchange for high income.
Look elsewhere if
- Cost-conscious investors: its 1.73% expense ratio means $176 on $10,000 in the first year under the SEC's standard example.
- Investors who need stable principal: payouts may include return of capital, and repeated distributions can erode the share price over time.
- Those wanting a long track record: launched March 5, 2025, it lacks full calendar-year results and any history from 2008, 2020 or 2022.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Does RDTY pay weekly dividends?
It aims to. RDTY's prospectus says the fund seeks to make weekly cash distributions, funded mainly by premiums from selling same-day call options on the Russell 2000 and by interest on short-term Treasuries. Payments aren't guaranteed in any given week and will likely vary widely. Over the 12 months to October 27, 2026, it paid $14.93 per share. Part of any payout may be return of capital rather than earnings.
Why is RDTY's yield so high?
Because it sells options every trading day. RDTY collects premiums for writing same-day calls on the Russell 2000, and those premiums, plus Treasury interest, fund its payouts; its trailing 12-month yield was about 44% as of October 27, 2026. That money doesn't come from company profits or dividends. Payouts may include return of capital, which can erode the share price, and option income is usually taxed as ordinary income rather than as qualified dividends. A high past yield doesn't promise future payouts.
Is RDTY good for retirement income?
It can produce large payouts, but the risks are significant. RDTY's exposure is to small-company stocks in the Russell 2000, its gains are capped on strong days, and it charges 1.73% a year. Its deepest drop was 17.3%, between March 24 and April 8, 2025, and it launched too late to be tested in the 2008, 2020 or 2022 downturns. Payouts may include return of capital, which can shrink the share price. It may fit better as a small satellite position than as a core holding.
What's the difference between RDTY and a Russell 2000 index fund?
The main difference is how they get exposure. A plain Russell 2000 index fund owns the index's small-company stocks and aims to match its full return, dividends included, minus fees. RDTY owns no stocks: it holds deep-in-the-money call options on the index and sells same-day calls for income, which caps gains on strong up days. It receives no company dividends, pays out option premiums instead, and charges a 1.73% expense ratio, well above most plain index funds.
What does RDTY actually hold?
Mostly options, not stocks. As of July 31, 2026, about 88.6% of RDTY's net assets sat in a single call option on the Russell 2000 expiring December 18, 2026, which provides its index exposure. Cash made up about 9.8% and a US Treasury bill about 0.1%. The calls it sells each day expire the same day. Net assets were about $30.9 million.