The YieldMax MARA Option Income Strategy ETF (MARO) is an exchange-traded fund designed to generate current income through an options-based strategy linked to the shares of MARA Holdings, Inc., a company focused on Bitcoin mining and digital asset infrastructure. The ETF is managed by YieldMax ETFs and trades under the ticker MARO on the NYSE Arca.

Classified as a single-stock option income ETF, the fund uses a combination of synthetic exposure to MARA stock and the systematic sale of call options to generate recurring income. Its primary objective is income generation rather than fully capturing the appreciation of MARA shares.

The ETF follows an active management approach, continuously adjusting its derivatives positions in response to market conditions and changes in the volatility of MARA stock.

Diversification and sector exposure

MARO provides exposure primarily associated with:

• MARA Holdings.

• Bitcoin mining.

• Cryptocurrencies.

• Digital infrastructure.

• Blockchain.

• Options strategies.

• Technology.

• Active management.

The portfolio is concentrated in financial instruments linked to MARA stock, using options and other derivatives to generate recurring income while maintaining economic exposure to the underlying company.

The ETF's performance is expected to differ from that of MARA shares. During periods of strong stock appreciation, upside participation may be limited by the options strategy, while investors remain exposed to downside risk.

Structure and costs

MARO shares trade on the secondary market on the NYSE Arca during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF's market price with its net asset value (NAV).

The fund uses options contracts and other derivatives to implement its income strategy and charges a management fee as outlined in its prospectus. It does not charge a performance fee.

History and evolution of the ETF

The YieldMax MARA Option Income Strategy ETF was launched in December 2024 as part of YieldMax's expanding lineup of option income ETFs focused on highly volatile individual stocks.

Since inception, the fund has provided investors with a way to generate recurring income by monetizing the volatility of MARA Holdings, one of the largest publicly traded Bitcoin mining companies.

In recent years, Bitcoin price movements, developments in mining infrastructure, growing institutional adoption of digital assets, and evolving cryptocurrency market conditions have continued to shape the ETF's performance.

Additional Information

YieldMax MARA Option Income Strategy ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $45.87 million.

Over the past 12 months, YieldMax MARA Option Income Strategy ETF recorded a return of -46.09%, with its price trading between $3.79 and $20.46 during the same period.

The ETF is traded under the ticker MARO.