YieldmaxTM Ultra Short Option Income Strategy ETF SLTY Strategy

The investment seeks current income; the fund’s secondary investment objective is to seek inverse (opposite) exposure to the share price of select U.S. listed securities, subject to a limit on potential investment gains. The fund’s strategy involves constructing a short portfolio of U.S.-listed equity securities or derivatives that provide short exposure to those underlying securities and generating income through an options portfolio, which involve using options contracts on underlying securities. The fund is non-diversified.