IWMY

The Defiance R2000 Enhanced Options Income ETF (IWMY) is an exchange-traded fund designed to generate income through options strategies linked to the U.S. small-cap equity market. The ETF is managed by Defiance ETFs within the Tidal Trust II structure and trades under the ticker IWMY on Nasdaq.

Classified as a U.S.-focused equity ETF employing an active income strategy based on options tied to the U.S. small-cap market, IWMY seeks to generate distributable income, before fees and expenses, using derivatives and options structures related to the Russell 2000 market.

The fund does not passively replicate a traditional benchmark index. Its methodology uses options strategies, including synthetic covered call structures linked to the performance of the iShares Russell 2000 ETF (IWM) and the behavior of the U.S. small-cap equity market.

Diversification and sector exposure

IWMY provides indirect exposure to the U.S. small-cap equity universe across sectors such as:

• Information technology
• Consumer discretionary
• Financials
• Industrials
• Health care
• Communication services

This structure seeks to capture income generation associated with volatility and the behavior of the U.S. small-cap market, rather than traditional direct equity exposure.

Structure and costs

IWMY shares trade on the secondary market on Nasdaq during regular trading hours. Creation and redemption occur through authorized participants, helping maintain alignment between market price and net asset value.

The fund charges a management fee as outlined in its prospectus and does not apply a performance fee. Its distribution policy may include periodic payments related to its derivatives-based income strategy.

History and evolution of the ETF

The Defiance R2000 Enhanced Options Income ETF was launched in 2023, during a period of expansion in ETFs focused on income strategies using derivatives and options tied to U.S. equity indexes.

Since inception, the fund has been used by investors seeking income-oriented strategies linked to the U.S. small-cap equity market.

In recent years, IWMY has reflected movements in the U.S. small-cap market, options market conditions, and volatility associated with the Russell 2000 while maintaining its systematic income-generation strategy.

Additional Information

Defiance R2000 Enhanced Options Income ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $96.97 Millions.

Over the past 12 months, Defiance R2000 Enhanced Options Income ETF recorded a return of 18.75%, with its price trading between $17.49 and $24.50 during the same period.

The ETF is traded under the ticker IWMY.