GDXY Dividend: Next Ex-Date, History & Total Return

The YieldMax Gold Miners Option Income Strategy ETF (GDXY) is an actively managed ETF whose options are all based on one other fund, the VanEck Gold Miners ETF (GDX). Its primary objective is current income, and its secondary objective is exposure to GDX's share price, subject to a limit on potential gains.¹

GDXY gets its GDX exposure through options, which the prospectus calls synthetic long exposure: it buys at-the-money GDX calls and sells at-the-money GDX puts, generally with one-month to six-month terms, to try to replicate the price movements of GDX.¹

On top of that exposure, GDXY sells GDX calls and collects the premium, which the prospectus describes as the price the option buyer pays the seller. These calls generally expire in one month or less, with strikes approximately 0%-15% above GDX's share price when sold. Short-term U.S. Treasuries serve as collateral for the options and generate income of their own.¹

GDXY seeks to provide weekly cash distributions. The prospectus warns that a portion of those distributions, sometimes significant, may be classified as return of capital, the portion of a distribution that returns an investor's original investment rather than income or profit. Such distributions do not necessarily reflect the fund's income or yield.¹

GDXY's options are based on GDX, a passively managed ETF that normally invests at least 80% of its total assets in securities of the MarketVector Global Gold Miners Index, which includes domestic and foreign companies primarily involved in gold and silver mining. To be initially eligible, a company must generate at least 50% of its revenues from gold and/or silver mining, royalties, or streaming, or have at least 50% of its mineral resources related to gold and/or silver.¹

Companies already in the index need only 25% on either test. New entrants must also have a market capitalization greater than $150 million as of the end of the month before a rebalancing date. The prospectus says GDXY's strategy concentrates its exposure in the same industry or group of industries as GDX.¹

GDXY can sell calls on their own or as credit call spreads, and YieldMax's fund page describes the fund as selling call spreads on GDX. A credit call spread sells one call and buys another with a higher strike and the same expiration, and the bought call can potentially offset losses on the sold call if GDX rises above its higher strike. The adviser will primarily use spreads when it believes GDX is likely to rise significantly in the short term, for example following a substantial selloff.^1,2

GDXY launched on May 20, 2024, and the earliest payment in Dividend Stacker's record went ex-dividend on July 5, 2024. In 2025, the fund made 22 distributions totaling $8.35 per share. Single payments that year ranged from $0.1034 to $1.00.^2,3

The prospectus says GDXY's options subject it to certain of the same risks as owning GDX shares, which ties the fund to gold and silver miners that are highly dependent on bullion prices. Gold and silver prices may fluctuate substantially over short periods, so GDXY's share price may be more volatile than other types of investments.¹

The prospectus also flags risks from GDX's Canadian, Australian, African, and emerging market issuers, including political instability and capital controls. Because some of GDX's income and its companies' revenues may be denominated in foreign currencies, swings against the U.S. dollar may reduce GDX's returns and, in turn, GDXY's.¹

Selling calls limits how much of a GDX rally GDXY captures in each Call Period, which generally lasts one month or less. Its sold puts leave it exposed to the full extent of GDX's losses. The prospectus says this imbalance may cause the fund's net asset value (NAV) to decrease over any given time period, and that its returns depend on GDX's path over time as well as its price.¹

Credit call spreads reduce the net premium GDXY collects, which may result in lower overall returns than selling stand-alone calls. Because GDXY holds options on a single security, the prospectus says fewer clearing members may be willing to trade on its behalf, which raises the risk if one defaults. The same focus may make its options harder to sell during market turmoil.¹

There is no assurance GDXY will make a distribution in any given week, and payment amounts will likely vary greatly. Repeated distributions may significantly erode the fund's NAV and trading price over time.¹