At a glance
SOXY charges 1.06% a year, above the 0.36% average of the 8 funds most like it (the most expensive of 8). It has $64.0M in assets, the 9th largest of that group; it paid 4.44% of its price in distributions over the past 12 months, monthly. Its ten largest positions make up 47.0% of the fund, out of 28 in all.
The short version
YieldMax Target 12 Semiconductor Option Income ETF (SOXY) is an actively managed fund that holds 15 to 30 chip stocks, such as NVIDIA, AMD and Broadcom, and sells options on them to produce income. It aims to pay out about 12% of its net asset value each year, though that target is not guaranteed. Its annual cost is 1.06%, against an average of 0.36% for similar semiconductor funds.
Price history
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SOXY — 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 | |
|---|---|---|---|---|---|---|
| SOXY price data to Oct 27, 2026 | -8.8% | — | — | — | — | — |
- The deepest fall in its price history was 28.6% (Jun 22, 2026 to Jul 29, 2026), not yet recovered.
| 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
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jul 31, 2026, the fund held 28 securities; the ten largest made up 47.05% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 6.06% | |
| Advanced Micro Devices Inc | 5.25% | |
| Broadcom Inc | 4.90% | |
| ASML Holding NV | 4.73% | |
| Marvell Technology Inc | 4.52% | |
| ACM Research Inc | 4.41% | |
| Lam Research Corp | 4.41% | |
| Applied Materials Inc | 4.27% | |
| Astera Labs Inc | 4.25% | |
| Micron Technology Inc | 4.24% | |
| United Microelectronics Corp | 3.91% | |
| ARM Holdings PLC | 3.89% | |
| KLA Corp | 3.65% | |
| Texas Instruments Inc | 3.43% | |
| TSMC | 3.33% |
By country
United States 75.07%Taiwan 9.86%Netherlands 7.14%United Kingdom 3.89%Switzerland 3.21%By asset type
Stocks 99.17%By sector
Sectors of the companies held, for the 56.4% 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 $13.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +22.24%, +14.58%, -21.81%.
How it works
SOXY does not track an index. Its adviser actively picks 15 to 30 U.S.-listed semiconductor stocks of any size, including foreign firms such as ASML. It favors stocks whose shares and options trade heavily. It also weighs implied volatility, which is how much the market expects a price to swing. As of July 31, 2026, the fund held 28 companies, led by NVIDIA (6.1%), AMD (5.2%) and Broadcom (4.9%). Up to 10% of assets may sit in cash or Treasuries.
The income comes from selling options. Each month the adviser sells options on the fund's holdings or on a passive semiconductor ETF. It aims for net premiums of about 1% a month. Net premiums are the premiums collected minus the premiums paid. Its main trade is a covered call spread. The fund sells a call option, which lets the buyer purchase a stock at a set price, and buys another call at a higher strike price. That caps both the profit and the loss on the trade, and the fund gives up some gains when chip stocks rally.
Those premiums fund an "Annual 12% Target": payouts of roughly 1% a month of the fund's net asset value, which is its per-share worth. The prospectus says this is not a guaranteed yield or return. If results fall short, the payouts shrink net asset value and future dollar payouts fall. Part of each payout may be return of capital, which means investors get their own money handed back.
What it really costs
- SOXY charges 1.06% a year, versus an average of 0.36% for the similar funds below (8th of 8, cheapest first).
- 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 $108 in the first year and $1,294 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SOXY | $108 | $337 | $585 | $1,294 |
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
SOXY is a concentrated, volatile bet on one industry, with a high payout target that can wear down its value, so it fits better as a small side position than as a core holding.
SOXY could add monthly cash flow tied to chip stocks, but it is narrow and volatile. It launched on December 2, 2024, so it has no record through the 2008, 2020 or 2022 downturns. The price history available starts June 9, 2026. It shows a 28.6% drop from June 22 to July 29, 2026, which had not been recovered as of October 27, 2026. Anyone who had to sell during a slump like that would lock in losses. Payouts larger than the fund's earnings shrink its value further. The trailing yield was 4.44% as of October 27, 2026, well below the 12% target. Option income is usually taxed as ordinary income. In the SEC's standard example, the 1.06% annual cost comes to about $108 in the first year on $10,000. 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 who want monthly cash from about 28 chip stocks and accept that the 12% payout target is not guaranteed.
- Those using a small slice of a portfolio for high-risk, income-focused exposure to NVIDIA, AMD, Broadcom, ASML and similar names.
- Holders in tax-advantaged accounts, where option income that is usually taxed as ordinary income matters less.
Look elsewhere if
- Cost-conscious investors: the 1.06% expense ratio ranks 8th of 8 similar funds, compared with 0.19% for SOXQ and 0.35% for SOXX.
- Those who want the full upside of semiconductor stocks, since covered call spreads give up some gains in strong rallies.
- Retirees who need stable principal: the fund fell 28.6% from June 22 to July 29, 2026, and large payouts can erode its value.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| SOXY this fund | — | 1.06% | $64.0M | — | — |
| CHPY YieldMax Semiconductor Portfolio Option Inc… | 95% | — | $1.02B | — | — |
| SOXX iShares Semiconductor ETF · different strategy | 73% | 0.35% | $47.82B | +48.5% | +44.1% |
| SOXQ Invesco PHLX Semiconductor ETF · different strategy | 71% | 0.19% | $3.00B | +60.9% | +53.6% |
| SMH VanEck Semiconductor ETF · different strategy | 69% | 0.35% | $77.20B | +40.5% | +52.2% |
| FTXL First Trust Nasdaq Semiconductor ETF · different strategy | 57% | 0.6% | $2.75B | +81.9% | +54.2% |
| CHPS Xtrackers Semiconductor Select Equity ETF · different strategy | 54% | 0.15% | $107.1M | +75.7% | +55.7% |
| PSI Invesco Semiconductors ETF · different strategy | 42% | 0.56% | $2.38B | +65.1% | +49.1% |
Questions investors ask
Does SOXY pay monthly dividends?
Yes. SOXY aims to pay distributions monthly or more often, with a target of about 12% of net asset value a year. Payments are not guaranteed and can vary widely from month to month. The fund paid $3.81 per share over the trailing 12 months, a yield of 4.44% as of October 27, 2026. Much of the payout comes from option premiums rather than stock dividends, and part of it may be classed as return of capital.
Is SOXY good for retirement income?
It depends on how much risk a retiree can accept. SOXY targets high monthly income, but it holds only semiconductor stocks and fell 28.6% between June 22 and July 29, 2026. When payouts are larger than the fund's earnings, its value shrinks and future payments get smaller. It costs 1.06% a year. It may suit investors who treat it as a small, higher-risk income position rather than a core holding.
What's the difference between SOXY and CHPY?
They are close cousins. Both are YieldMax semiconductor funds that sell options for income, and their holdings overlapped by 95% in the latest N-PORT reports. The main differences are size and SOXY's stated 12% annual payout target. As of July 31, 2026, CHPY had about $1.02 billion in net assets, while SOXY had about $64.0 million. Compare the expense ratios and distribution histories in each fund's prospectus before choosing between them.
SOXY vs SOXX: which is cheaper?
SOXX is much cheaper. The iShares Semiconductor ETF charges 0.35% a year, while SOXY charges 1.06%. Their holdings overlap by 73%, but they follow different strategies. SOXX simply owns chip stocks, while SOXY also sells options to generate income, which gives up some upside in rallies. SOXX returned 54.9% over the year to October 30, 2026. SOXY does not yet have a one-year return figure.
Can you lose money in SOXY?
Yes. The prospectus warns that investors could lose all of their money. SOXY's return was -8.8% for the year to date and -10.6% for the month ending October 27, 2026. Its deepest drop was 28.6%, from June 22 to July 29, 2026. Losses can come from falling chip stocks, from option trades that go against the fund, and from steady payouts that erode the fund's value over time.