The YieldMax® CRCL Option Income Strategy ETF (CRCO) as of: 12/17/2025 the distribution Rate was 125.48% is a specialized, actively managed exchange-traded fund that provides high-yield income focused on a single underlying stock: Circle Internet Group, Inc. (CRCL). Because CRCL is a major player in digital currency infrastructure (best known as the issuer of the USDC stablecoin), this ETF acts as a high-income bridge for investors who want exposure to the crypto-economy without directly holding digital assets or the stock itself. The fund uses a “synthetic covered call” strategy, meaning it doesn’t actually own CRCL shares. Instead, it uses a combination of call and put options to replicate the stock’s price movement while selling “out-of-the-money” calls to generate cash.
As of: 12/17/2025 | Distribution Rate: 125.48% | 30-Day SEC Yield: 4.59% | ROC: 98.96%
The most recent distribution on 12/17/2025 contains 98.96% return of capital and 1.04% income. The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing the Fund’s most recent distribution and dividing the resulting amount by the Fund’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions are not guaranteed.
The 30-Day SEC Yield represents net investment income, which excludes option income, earned by the Fund over the 30-Day period ended at the most recent month-end, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-Day period.
The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, from the Fund. In particular, future distributions from the Fund may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution from the Fund. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.
Pros and Cons of CRCO
Pros
High Weekly Income: Designed to provide consistent cash flow, often paid out on a weekly basis, which is rare for traditional ETFs.
Crypto-Adjacent Exposure: Allows you to benefit from the growth of Circle Internet Group and the broader USDC ecosystem through a regulated brokerage account.
Synthetic Efficiency: Since it uses options rather than buying the underlying stock, the fund can generate income even if the stock remains flat (sideways).
Cons
Capped Upside: By selling call options to generate income, the fund effectively “gives away” its ability to profit from massive price surges in CRCL stock.
Full Downside Risk: While gains are capped, losses are not. If CRCL stock crashes, the ETF will likely drop just as sharply, and the option premiums collected may not be enough to offset the loss.
High Management Fees: With an expense ratio of 0.99%, it is significantly more expensive than a standard index fund or a basic dividend ETF.
NAV Erosion: Because it pays out large portions of its value as income (often as a “return of capital”), the share price of the ETF itself may slowly decline over time.
Single-Stock Concentration: Unlike diversified ETFs, your entire investment depends on the performance and volatility of one company (Circle).
Risk Disclosure: All investments discussed on this site are high-risk and speculative. Past performance is not indicative of future results. Consult a licensed financial advisor before making any investment decisions.