NVDY Dividend: Yield, Schedule, and What to Expect

Last updated August 2026

Short answer

NVDY's approximate Headline distribution rate is very high and varies widely with NVDA volatility. The fund reports a distribution rate in the roughly 40% range as of mid-2026, while the trailing-twelve-month yield has been reported as high as roughly 60% to 67%. This headline figure is NOT a traditional dividend yield: it is an annualized estimate of recent option-premium-driven distributions, a large share of which has been classified as return of capital (the most recent distribution was estimated at over 90% return of capital). The advertised rate should not be read as sustainable income or as total return. yield (as of early 2026) makes it a growth-first, low-yield fund, about $40 a year on a $10,000 position before tax. It tracks synthetic covered-call income on NVIDIA (NVDA) and passes through the income its holdings generate, monthly, net of the approximately 0.99% to 1.27% (the fund's stated total annual expense ratio has been reported around 1.27% gross, with figures near 0.99% to 1.01% commonly cited; high relative to plain index ETFs) expense ratio. If income is your goal, look to dedicated dividend funds for more; NVDY is built for total return, not yield. If total return is the goal, the yield matters less than cost and what it holds. Yield is a recent snapshot, not a promise; verify the current figure with YieldMax.

How does the NVDY dividend work?

NVDY holds what is in synthetic covered-call income on NVIDIA (NVDA), collects the income those holdings generate, and distributes it to shareholders monthly, net of its approximately 0.99% to 1.27% (the fund's stated total annual expense ratio has been reported around 1.27% gross, with figures near 0.99% to 1.01% commonly cited; high relative to plain index ETFs) fee. The yield you see is trailing distributions divided by price, so it drifts as both change: a falling price raises the quoted yield without a single extra dollar being paid out.

The YieldMax NVDA Option Income Strategy ETF (NVDY) is an actively managed exchange-traded fund from YieldMax, operated under Tidal Trust II with Tidal Investments as adviser. It does not buy NVIDIA shares directly. Instead it uses a synthetic options position to gain exposure to NVDA's price and writes (sells) call options against that exposure, a covered-call style income strategy applied to a single stock. The premiums collected from selling those calls fund large distributions that have been paid weekly in recent periods (the fund historically paid monthly). Because writing calls exchanges potential upside for premium income, NVDY participates in only a limited portion of NVDA rallies while still bearing most of NVDA's downside. The advertised distribution rate is high but is heavily influenced by NVDA's implied volatility and frequently includes a substantial return of capital component, meaning part of each payout can be investors' own principal returned rather than newly earned income. Over time this combination can erode the fund's net asset value, so the total return of holding NVDY can lag the total return of simply owning NVDA, especially in strong up markets. The expense ratio is high relative to broad index ETFs.

What NVDY's dividend pays on a real position

Approximate yield: Headline distribution rate is very high and varies widely with NVDA volatility. The fund reports a distribution rate in the roughly 40% range as of mid-2026, while the trailing-twelve-month yield has been reported as high as roughly 60% to 67%. This headline figure is NOT a traditional dividend yield: it is an annualized estimate of recent option-premium-driven distributions, a large share of which has been classified as return of capital (the most recent distribution was estimated at over 90% return of capital). The advertised rate should not be read as sustainable income or as total return. (early 2026).
Income on $10,000: roughly $40 a year before tax, or about $400 on $100,000.
Versus the market: the S&P 500 yields around 1.2%, so NVDY pays less.
Schedule: monthly, in line with how this kind of fund collects income. YieldMax publishes the exact ex-dividend and pay dates.
Fee: the approximately 0.99% to 1.27% (the fund's stated total annual expense ratio has been reported around 1.27% gross, with figures near 0.99% to 1.01% commonly cited; high relative to plain index ETFs) expense ratio comes out before you receive anything, so the yield above is already net of it.

How NVDY distributions are taxed

A large share of NVDY's distributions are usually qualified dividends, taxed at long-term capital-gains rates rather than as ordinary income, provided the holding-period tests are met by both the fund and you. Some portion can still be ordinary, and REIT or option-income components generally are. YieldMax's annual 1099 shows the actual split. Inside an IRA, Roth, or 401(k) none of it applies while the money stays in the account. Full detail is in how dividends are taxed. This is not tax advice.

If income is your goal, compare NVDY against dividend-focused funds. See the best dividend ETFs roundup and best ETFs for monthly income, or analyze how NVDY's income fits your real portfolio in Walnut.

The bottom line on the NVDY dividend

The bottom line: at an approximate Headline distribution rate is very high and varies widely with NVDA volatility. The fund reports a distribution rate in the roughly 40% range as of mid-2026, while the trailing-twelve-month yield has been reported as high as roughly 60% to 67%. This headline figure is NOT a traditional dividend yield: it is an annualized estimate of recent option-premium-driven distributions, a large share of which has been classified as return of capital (the most recent distribution was estimated at over 90% return of capital). The advertised rate should not be read as sustainable income or as total return. yield, NVDY is a growth-first, low-yield fund. If income is your goal, dedicated dividend funds pay more; NVDY is the wrong tool for yield and the right one for total-return synthetic covered-call income on NVIDIA (NVDA) exposure. If total return is the goal, the yield matters less than cost and what it holds. Treat the figure as a moving snapshot, not a fixed rate, and verify the current yield with YieldMax.

More on NVDY

What is NVDY? (holdings, cost, performance, and the themes it covers)
Is NVDY a buy? (what you are buying, the case for it, and what to weigh)

Investing in NVDY with AI

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FAQ

What is NVDY's dividend yield?

Approximately Headline distribution rate is very high and varies widely with NVDA volatility. The fund reports a distribution rate in the roughly 40% range as of mid-2026, while the trailing-twelve-month yield has been reported as high as roughly 60% to 67%. This headline figure is NOT a traditional dividend yield: it is an annualized estimate of recent option-premium-driven distributions, a large share of which has been classified as return of capital (the most recent distribution was estimated at over 90% return of capital). The advertised rate should not be read as sustainable income or as total return. as of early 2026. On a $10,000 position that is roughly $40 of distributions a year before tax. The S&P 500 yields around 1.2%, so NVDY pays meaningfully less than the broad market. Yield is trailing distributions divided by price, so it moves when either changes; verify the current figure on YieldMax's fund page.

How often does NVDY pay a dividend?

NVDY is an option-income fund, and funds of that kind almost always distribute monthly rather than quarterly, because the income they collect arrives monthly too. YieldMax publishes the exact ex-dividend and pay dates in NVDY's distribution calendar, which is the figure to rely on.

Does NVDY pay monthly dividends?

Yes, NVDY is the kind of fund that distributes monthly. That suits people who want the income to arrive on a regular cadence, though monthly payments make no difference to total return, only to timing. Confirm the schedule on YieldMax's distribution calendar.

Where does NVDY's dividend come from?

NVDY tracks synthetic covered-call income on NVIDIA (NVDA) and holds names such as NVDA. The fund collects the income those holdings generate and passes it through to you. The approximately 0.99% to 1.27% (the fund's stated total annual expense ratio has been reported around 1.27% gross, with figures near 0.99% to 1.01% commonly cited; high relative to plain index ETFs) expense ratio is taken out along the way, so the yield you see is already net of the fee: you do not pay it separately.

When is NVDY's ex-dividend date?

YieldMax sets and publishes it on NVDY's fund page, and it moves with each distribution, so we do not quote a fixed date here. What it means is the cutoff: buy on or after the ex-dividend date and the seller keeps that distribution. Buying just before the ex-date to capture a payment is not free money, because the fund's price typically drops by roughly the distribution amount when it goes ex.

Can I reinvest NVDY dividends?

Yes. Most brokers let you turn on automatic dividend reinvestment (a DRIP) so NVDY distributions buy more shares, often fractional ones, without you doing anything. It compounds the position over time. It does not change the tax treatment: in a taxable account the distribution is taxable in the year it is paid, whether you reinvest it or take the cash.

Is NVDY a good choice for dividend income?

Walnut is informational, not investment advice. NVDY yields roughly Headline distribution rate is very high and varies widely with NVDA volatility. The fund reports a distribution rate in the roughly 40% range as of mid-2026, while the trailing-twelve-month yield has been reported as high as roughly 60% to 67%. This headline figure is NOT a traditional dividend yield: it is an annualized estimate of recent option-premium-driven distributions, a large share of which has been classified as return of capital (the most recent distribution was estimated at over 90% return of capital). The advertised rate should not be read as sustainable income or as total return., which is modest, so income is a side effect rather than the point. At that rate, $100,000 in NVDY generates roughly $400 a year before tax. If income is the goal, dedicated dividend and income ETFs target more; NVDY is built for total return. See the best dividend ETFs roundup to compare.

Are NVDY dividends qualified?

Usually a large share of them are. Dividends passed through from US companies are qualified, and so taxed at long-term capital-gains rates, when the fund and you both meet the holding-period tests. Some portion can still be ordinary income, and option-income and REIT distributions generally are. YieldMax's annual 1099 shows the actual split. In an IRA or Roth the distinction does not matter. This is not tax advice.

Walnut is informational, not investment advice. Dividend yields and schedules are approximate, stamped to early 2026, and change; verify current figures with YieldMax or your broker.