NVDY Dividend: Yield, Schedule, and What to Expect

NVDY holds the companies in synthetic covered-call income on NVIDIA (NVDA), collects the dividends they pay, and distributes them to shareholders (usually quarterly), 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 the trailing distributions divided by price, so it drifts as both change.

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.

• 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).
• What drives it: the payout of the underlying synthetic covered-call income on NVIDIA (NVDA) holdings.
• Fee drag: 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 deducted before you receive distributions.
• For more income: dedicated dividend or income ETFs target higher yield, with their own trade-offs.

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

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 (Tidal Investments / Tidal Trust II).