Defiance Nasdaq 100 Enh Opt &0DTEIncETF SEC Filings

Tidal Trust II – YieldMax GOOGL Option Income Strategy ETF (Series S000077654) filed its Form N-PORT for the period ended 30-Apr-2025.

The fund reported $108.62 million in total assets against $1.29 million in liabilities, giving net assets of $107.33 million. Cash and cash equivalents outside the detailed schedules totalled $0.22 million; no borrowings or preferred stock are outstanding.

Performance was volatile: monthly total returns were -13.49 %, -6.64 %, and +6.06 % for the last three months. Option activity drove these swings—Month 1 realised a $8.77 million gain with a $26.68 million unrealised loss, Month 2 showed a $1.89 million gain with a $9.79 million unrealised loss, and Month 3 reversed with a $31.47 million realised loss offset by a $37.35 million unrealised gain.

Risk metrics indicate low fixed-income sensitivity: DV01 exposure in U.S. dollars is only $1.9 k (3-month) and $1.2 k (1-year); credit-spread risk is entirely investment-grade with no high-yield exposure. The fund accepted non-cash collateral on securities-lending transactions and reported no controlled foreign corporations or standby commitments.

Tidal Trust II – YieldMax Innovation Option Income Strategy ETF filed a monthly Form NPORT-P covering the period ended 30 April 2025.

The fund reported total assets of $61.68 million and liabilities of $2.06 million, resulting in net assets of $59.62 million. Cash and cash equivalents not otherwise disclosed total $35.4 thousand.

Performance was volatile: the most recent three-month returns were -11.64 %, -11.47 %, and +3.50 %. Derivative activity (equity options) generated sizeable swings, with realized losses of $8.99 million in Month 2 and unrealized depreciation of $8.64 million in Month 1, partly offset by a $3.30 million unrealized gain in Month 3.

Interest-rate DV01 exposure is concentrated in short maturities: a 1 bp shift would change portfolio value by $1,148 (3-month) and $727 (1-year); the corresponding DV100 shocks are $114.8 k and $72.7 k. Credit-spread risk is entirely investment-grade, with a 1 bp move producing $1,185 (3-month) and $722 (1-year) impacts.

No borrowings, standby commitments, or preferred stock are outstanding, and no controlled foreign corporations are used. Securities-lending counterparties did not provide non-cash collateral.

Tidal Trust II – YieldMax Gold Miners Option Income Strategy ETF filed its monthly Form N-PORT for the period ended 30 Apr 2025.

• Net assets: US$69.54 million (assets US$74.74 m; liabilities US$5.19 m)
• Liquidity: Cash & cash equivalents of US$0.24 m
• Risk profile: Low fixed-income exposure—DV01 of only US$1,464 (3-mo) and US$1,005 (1-yr); no positions beyond 1-yr maturity
• Performance: Monthly total returns: Feb 2.04%, Mar 12.35%, Apr 2.07%
• Derivatives activity: Equity option strategy generated realized gains of US$9.17 m in Apr, but unrealized depreciation of –US$8.24 m the same month
• Assets & liabilities details: No borrowings, preferred stock, standby commitments or CFC holdings reported
• Final filing: Fund does not anticipate that this will be its final Form N-PORT

The filing is largely routine, confirming stable asset levels, modest leverage, and ongoing option-income generation with recent strong but volatile gains.

Tidal Trust II – YieldMax Dorsey Wright Hybrid 5 Income ETF (Series ID S000088913, LEI 25490090HOMCC5V4G792) has filed its Form N-PORT for the period ended 30 April 2025.

Balance sheet (Part B.1)

• Total assets: $9,248,951.11
• Total liabilities: $2,100.63
• Net assets: $9,246,850.48
• No borrowings, preferred stock, payables on firm commitments, or controlled foreign corporation exposure were reported.

Performance (Part B.5)

• Month 1 (most recent): -14.42 %
• Month 2: -5.69 %
• Month 3: +4.09 %

Realised & unrealised results (USD)

• Month 1: realised -$719,574.96; unrealised -$1,784,219.50
• Month 2: realised -$2,159,581.78; unrealised +$1,067,055.03
• Month 3: realised -$7,648.96; unrealised +$167,190.86

Capital flows (Part B.6)

• Month 1 gross share sales: $3,453,392.50
• No redemptions or dividend reinvestments were reported; Months 2–3 data were not provided.

Risk profile & leverage: The fund reports no credit spread exposure (Item B.3) and no securities-lending non-cash collateral, indicating a conservative balance sheet free of structural leverage.

Key takeaways for investors: The ETF remains small (< $10 m AUM) and loss-making year-to-date, with pronounced monthly volatility. Positive asset flows signal investor interest, yet sustained negative returns and large realised losses merit caution.

Tidal Trust II – YieldMax Dorsey Wright Featured 5 Income ETF filed its monthly Form N-PORT for the period ended 30 April 2025. The report covers one series (EDGAR ID S000088912) and class ID C000255304, with LEI 254900Z7JPAFHAG4OV37.

Balance-sheet snapshot: total assets stand at $13.26 million, against minimal liabilities of $3.1 thousand, leaving net assets of $13.26 million. No borrowings, payables on firm-commitment purchases, preferred stock or CFC investments are reported. Cash & cash equivalents are not separately disclosed.

Performance (three most-recent months, NAV total return):

• Month 1: -13.16%
• Month 2: -5.41%
• Month 3: +3.41%

Flows (Month 1 only): shares sold totalled $11.26 million versus redemptions of $0.97 million, implying net positive inflows of ~$10.29 million. No dividend-reinvestment sales were recorded.

Risk & other disclosures: the fund did not report credit-spread, duration or VaR metrics, suggesting fixed-income exposure below the 25 % NAV threshold. Securities-lending collateral and final-filing status were left blank. No derivatives detail was provided in Item B.5(c).

Key takeaways for investors: While the fund attracted meaningful net inflows and maintains a clean balance sheet with negligible leverage, recent performance has been volatile and negative overall for the past quarter. Realised losses signal trading headwinds, though the most recent month shows tentative recovery.

Form NPORT-P highlights for YieldMax DIS Option Income Strategy ETF (Series of Tidal Trust II, symbol QQQY) as of 30 Apr 2025:

• Net assets: $30.7 million on total assets of $31.5 million; liabilities represent only 2.3 % of assets, indicating low leverage.
• Recent performance: 3-month total returns were +1.53 %, -11.05 % and -8.12 %, showing sharp downside in the two most recent months.
• Derivative impact: Equity option activity drove large swings, with April’s net realized loss of $0.94 million offset by $1.48 million unrealized gain; the prior month showed a $0.80 million gain but a $5.45 million unrealized loss.
• Risk metrics: DV01 of $386 for 3-month and $216 for 1-year buckets; DV100 of $38.6k and $21.6k respectively, reflecting limited interest-rate exposure relative to net assets; no exposure beyond 1-year buckets.
• Balance sheet: No borrowings, preferred stock, or payables for delayed-delivery purchases; cash & cash equivalents of $0.18 million.

The filing is routine and contains no corporate actions or strategic changes but reveals recent performance volatility tied to the fund’s option-income strategy.

Tidal Trust II – YieldMax Crypto Industry & Tech Portfolio Option Income ETF filed a Form N-PORT for the month ended 30 April 2025 (fiscal year-end 31 July 2025).

Balance sheet snapshot

• Total assets: $82.47 million
• Total liabilities: $1.66 million
• Net assets: $80.81 million
• Cash & cash equivalents: $2.03 million
• No borrowings or payables for delayed-delivery purchases; no preferred stock outstanding.

Portfolio activity & risk

• No exposure to controlled foreign corporations or miscellaneous securities.
• Securities-lending information provided but collateral type not disclosed (Yes/No box left blank).
• Credit-spread, interest-rate, and other risk metrics show zero values, indicating no material debt-security exposure during the period.

Performance data (last three months)

• Month 1 total return: -14.79 %
• Month 2 total return: -10.29 %
• Month 3 total return: +12.00 %

Derivatives results – Equity options

• Month 1 realized gain: $1.98 m; unrealized gain: $1.83 m
• Month 2 realized gain: $3.44 m; unrealized loss: $0.57 m
• Month 3 realized loss: $2.63 m; unrealized loss: $0.94 m

Non-derivative investments

• Month 1 realized loss: $0.01 m; unrealized loss: $16.18 m
• Month 2 realized loss: $0.78 m; unrealized loss: $9.54 m
• Month 3 realized loss: $6.86 m; unrealized gain: $18.92 m

The filing is labelled as LIVE and does not indicate that it is a final N-PORT submission.

Tidal Trust II – YieldMax CVNA Option Income Strategy ETF filed its monthly Form NPORT-P for the period ended 30 April 2025.

The fund reported total assets of $59.21 million, liabilities of $3.75 million and net assets of $55.46 million. Cash and cash equivalents not otherwise captured totalled $0.19 million.

Performance: three-month total returns were

• Month 3: +17.28 %
• Month 2: -13.54 %
• Month 1: -4.16 %

Derivatives activity (options on equities): Month 3 delivered realised gains of $3.06 million and an unrealised gain of $2.69 million; Month 2 showed a realised loss of $1.02 million but an unrealised gain of $0.46 million; Month 1 saw modest gains offset by an unrealised loss.

Risk metrics: Interest-rate DV01 exposure in USD is concentrated in the short end—3-month DV01 of $1,091 and 1-year DV01 of $848; no exposure beyond one year. Credit-spread DV01 is similarly short dated at investment-grade level only, totalling $1,135 (3-month) and $842 (1-year). No borrowings, preferred shares or delayed-delivery payables were reported, and the fund received only cash collateral in its securities-lending programme.

The filing is routine, confirms the fund is LIVE with fiscal year-end 31 Oct 2025, and does not designate itself as a final NPORT submission.

Form NPORT-P filing for Tidal Trust II – YieldMax AMZN Option Income Strategy ETF (Series ID S000077651, symbol QQQY) covers the month ended 30 April 2025.

The fund reports total assets of $250.9 million against liabilities of $15.8 million, yielding net assets of $235.1 million. Balance-sheet leverage is minimal: borrowings, preferred stock and delayed-delivery payables are all reported at $0, and cash & cash equivalents total $0.24 million.

Performance was weak over the disclosed three-month window, with monthly total returns of –7.71 %, –7.20 % and –2.03 %. Equity-option activity drove sizeable P&L swings: Month 1 realised a $36.3 million gain but a $60.1 million unrealised loss; Month 2 showed a $7.5 million gain and $28.1 million unrealised loss; Month 3 flipped to a $55.5 million realised loss offset by a $49.6 million unrealised gain.

Risk metrics show limited fixed-income exposure: DV01 totals $4.31 thousand (3-month) and $2.92 thousand (1-year), rising to DV100 of $431 thousand and $292 thousand respectively. All credit-spread sensitivity is investment-grade; non-investment-grade exposure is reported as $0.