YMAG Bundles YieldMax's Magnificent Seven Strategy Into One Ticker, And the NAV Decay Compounds Across All Seven

YMAG combines seven single-stock YieldMax option-income sleeves on Apple, Microsoft, Alphabet, Amazon, Meta, NVIDIA, and Tesla into one weekly-distribution ETF. Each sleeve uses a synthetic covered-call structure with a long synthetic stock position and sold calls, typically weekly, creating capped upside and full downside exposure. The fund’s NAV decay compounds across all seven sleeves, and the Magnificent Seven’s sustained rally since late January 2024 has been especially harmful to covered-call writers. NVIDIA rose 266%, Alphabet 190%, Tesla 131%, Amazon 76%, Meta 57%, Apple 56%, while Microsoft lagged at 16% on an adjusted basis. Over the same window, an equal-weight basket via MAGS returned 105% with distributions reinvested, while YMAG returned 70% on a total-return basis, a 35-point gap.

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