Filed pursuant to Rule
Registration Nos. 333-264478; 811-23793
YieldMax® Target 12™ Semiconductor Option Income ETF (SOXY)
YieldMax® Target 12™ Biotech & Pharma Option Income ETF (BIOY)
YieldMax® Target 12™ Energy Option Income ETF (ZAPY)
YieldMax® Target 12™ Real Estate Option Income ETF (RNTY)
YieldMax® Target 12™ Tech & Innovation Option Income ETF (QYQY)
YieldMax® Target 12™ Big 50 Option Income ETF (BIGY)
Each listed on NYSE Arca, Inc.
Supplement to the
Prospectus and Statement of Additional Information (“SAI”),
each dated
and where applicable a Fund’s Summary Prospectus
Effective on October 1, 2025, all references in the Funds’ summary prospectuses, prospectus and SAI to the frequency of the Funds’ payment of income distributions are hereby changed to reflect that the Funds will seek to make such distributions on a monthly or more frequent basis.
Please retain this Supplement for future reference.