tell me about ULTY

The YieldMax Ultra Option Income Strategy ETF (ULTY) is an actively managed exchange-traded fund (ETF) that seeks to provide current income and seeks exposure to the share price of select U.S. listed securities. ULTY employs an investment strategy that includes constructing a portfolio of U.S.-listed equity securities and generating income through an options portfolio. 1. **Options Portfolio Strategy**: ULTY generates income primarily through an options portfolio, which involves using options contracts on the underlying securities. This strategy exposes the fund to potential gains from options premiums, which can be influenced by market volatility. 2. **Equity Strategy Component**: The fund also holds a portfolio of U.S.-listed equity securities, which provides a base for generating income through the options strategy. This component of the portfolio is designed to provide current income and can contribute to the fund's overall return. 3. **Tax Alpha and Performance**: ULTY aims to unlock 1-3% or more in tax alpha through its direct indexing approach. This strategy involves building custom indexes to harvest tax losses at the security level, which can enhance after-tax returns for investors. 4. **Expense Ratio and Dividend Yield**: The fund's expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets. As of the latest data, the annualized forward dividend yield is not provided, but investors should consider the fund's income-generating potential relative to its expense ratio when evaluating returns. In conclusion, ULTY is an ETF that focuses on providing income through an options-based strategy, with a complementary equity component. Its direct indexing approach aims to enhance tax efficiency and improve after-tax returns, making it a potential option for investors seeking income-focused strategies.