gove me information on ulty and msty

**ULTY: YieldMax Ultra Option Income Strategy ETF** 1. **Overview**: The YieldMax Ultra Option Income Strategy ETF (ULTY) is an actively managed exchange-traded fund that seeks current income while providing indirect exposure to the share price of select U.S. listed securities, subject to a limit on potential investment gains. ULTY employs both traditional and synthetic covered call strategies, which are designed to produce higher income levels when the underlying securities experience more volatility. 2. **Performance**: ULTY has a history of generating income through its options-based strategy, but it is important to note that nearly all of its income is expected to be classified as Return of Capital (RoC) rather than traditional dividends. This means that while the fund may offer high yields, a portion of those yields may come from the investor's principal rather than from actual dividend income. 3. **Risks**: The fund's strategy is not built to preserve capital, and over time, the share price has declined significantly. For example, since its inception, ULTY's share price has declined by -68.60%, and long-term shareholders have generated $13.21 of distribution income without taking the power of compounding into consideration. This makes ULTY a high-risk option for investors seeking income, with the potential for significant principal erosion. 4. **Dividend Suitability**: ULTY's dividend distribution is not classified as traditional dividend income but rather as RoC, which means that a portion of the fund's income is returned to investors from their principal investment. This structure could make ULTY a less attractive option for income-focused investors who are seeking stable dividend payments. **MSTY: YieldMax MSTR Option Income Strategy ETF** 1. **Overview**: The YieldMax MSTR Option Income Strategy ETF (MSTY) is an actively managed ETF that uses a synthetic covered call strategy to provide income and indirect exposure to the share price of MicroStrategy Incorporated (MSTR), subject to a limit on potential investment gains. MSTY aims to generate income from options-based strategies, primarily using options contracts on MSTR. 2. **Performance**: MSTY has a high dividend yield, which is attributed to its option-selling approach. However, the fund's returns have consistently lagged behind the underlying MSTR returns, and it has experienced significant volatility. For instance, since its launch in early 2024, MSTY is up 208%, while MicroStrategy shares are up 306%. In the year 2025, MSTR is up 31% year-to-date, compared to MSTY's 27% gain. 3. **Risks**: MSTY's high yield comes at the cost of potential upside participation. The fund's strategy of selling covered calls limits its exposure to gains in MSTR during periods of market上涨, while still exposing it to the downside risk of MSTR's share price. Additionally, the fund's heavy reliance on short-term Treasuries makes it vulnerable to rising interest rates, which could negatively impact its fixed-income holdings. 4. **Dividend Suitability**: Like ULTY, MSTY's dividend distribution is not classified as traditional dividend income but rather as RoC. This means that a portion of the fund's income may come from the investor's principal, which could be a concern for income-focused investors. In conclusion, both ULTY and MSTY offer high yields through their respective options-based strategies, but they both come with significant risks, including the potential for principal erosion and the limitation on potential investment gains. Investors should carefully consider their risk tolerance and investment goals before investing in these ETFs.