YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY US) – Portfolio Construction Methodology

The underlying Nasdaq Dorsey Wright Tactical Hybrid Option Income Strategy Index targets a concentrated portfolio combining YieldMax single-underlier option-income ETFs with their reference securities. The universe consists of Evaluated Securities representing the underliers used by YieldMax option-income ETFs and the ETFs themselves. Each month Nasdaq Dorsey Wright ranks all Evaluated Securities using its relative strength matrix based on point-and-figure price trends versus the peer universe; the five highest-ranked names become Underlying Securities. The index then holds those five Underlying Securities plus the five corresponding YieldMax ETFs, with a strategic allocation of 40% to Underlying Securities and 60% to ETFs. Weights are fixed at 8% per Underlying Security and 12% per ETF, so the index always owns 10 equally pre-specified positions subject to corporate actions. Reconstitution and rebalancing occur monthly, with turnover driven solely by changes in the relative strength rankings.

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