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YBMN ETF — Holdings & Analysis

The Defiance BMNR Option Income ETF (YBMN) is an equity ETF from Defiance, launched in November 2025. With an expense ratio of 0.85%, the fund aims to provide current income and exposure to the share price of BitMine Immersion Technologies, Inc. (BMNR), while limiting potential investment gains. The fund has a small AUM of $0.00B and holds only 6 securities, with a significant portion of its assets in First American Government Obligs X (FGXXX).

Defiance BMNR Option Income ETF (YBMN) ETF — Price, Holdings & Analysis

The Defiance BMNR Option Income ETF (YBMN) is an equity ETF from Defiance, launched in November 2025. With an expense ratio of 0.85%, the fund aims to provide current income and exposure to the share price of BitMine Immersion Technologies, Inc. (BMNR), while limiting potential investment gains. The fund has a small AUM of $0.00B and holds only 6 securities, with a significant portion of its assets in First American Government Obligs X (FGXXX).

ETF Overview

The Defiance BMNR Option Income ETF (the “Fund” or the “BMNR Option Income ETF”) seeks current income and exposure to the share price of the BitMine Immersion Technologies, Inc. (“BMNR” or the “Underlying Security”), subject to a limit on potential investment gains.
The Defiance BMNR Option Income ETF (YBMN) seeks to generate current income while providing exposure to the price movements of BitMine Immersion Technologies, Inc. (BMNR). This is achieved through a covered call strategy, where the fund buys BMNR shares and sells call options on those shares. The fund's strategy limits potential investment gains in exchange for income generation. The ETF's portfolio is highly concentrated, holding only 6 securities. A significant portion, 11.10%, is invested in First American Government Obligs X (FGXXX). The fund's country exposure is entirely in 'Other' at 100.0%. This ETF may be suitable for investors seeking income generation from a specific equity, while accepting limitations on potential capital appreciation. However, the fund's concentrated nature requires careful consideration.

Risk Metrics

YBMN carries several risks typical of concentrated, option-based strategies. The fund's concentration in a single underlying security, BitMine Immersion Technologies, Inc. (BMNR), exposes it to significant company-specific risk. Any adverse events affecting BMNR could have a substantial negative impact on the ETF's value. The fund's option strategy limits potential upside gains, meaning it may underperform in periods of strong BMNR price appreciation. With a beta of 0.00, the fund's price is not correlated to the market. The expense ratio of 0.85% is higher than the category average, which can create a drag on performance over time. Investors should carefully consider these risks before investing.

Expense Ratio

0.85%

Top Holdings

Sector Allocation

  • Other: 100.0%

Dividend Yield

0.00%
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Risk Metrics

  • Beta: 0.00

Questions & Answers

What is YBMN and what does it track?

The Defiance BMNR Option Income ETF (YBMN) is an exchange-traded fund that aims to provide current income and exposure to the share price of BitMine Immersion Technologies, Inc. (BMNR). The fund employs a covered call strategy, where it holds shares of BMNR and sells call options on those shares to generate income. This strategy limits potential investment gains in exchange for income. The fund's portfolio is concentrated, holding only 6 securities, with a significant allocation to First American Government Obligs X (FGXXX).

What is the expense ratio for YBMN?

The expense ratio for the Defiance BMNR Option Income ETF (YBMN) is 0.85%. This means that for every $1000 invested in the fund, $8.50 is used to cover the fund's operating expenses. While there isn't a specific category average available for single-stock option income ETFs, this expense ratio is generally higher than broader equity ETFs, reflecting the complexity of the fund's strategy and concentrated holdings. the may be worth researching impact of this expense ratio on their overall returns.

What are the top holdings in YBMN?

As of 2026-03-15, the top holding in the Defiance BMNR Option Income ETF (YBMN) is First American Government Obligs X (FGXXX), with an allocation of 11.10%. While the fund's stated objective is exposure to BitMine Immersion Technologies, Inc. (BMNR), the specific holdings related to BMNR are not detailed in the provided data. The fund holds a total of 6 securities, indicating a highly concentrated portfolio. Investors should review the fund's complete holdings list for a comprehensive understanding of its asset allocation.

Is YBMN a good long-term investment?

Evaluating YBMN as a long-term investment requires careful consideration of its strategy and risk profile. The fund's covered call strategy limits potential upside gains, which may hinder long-term capital appreciation. Its concentrated holdings in a single stock (BMNR) expose it to significant company-specific risk. With an expense ratio of 0.85% and a beta of 0.00, potential investors should weigh the income generation against the limited growth potential and high concentration risk. Past performance does not guarantee future results.

How does YBMN compare to similar ETFs?

YBMN is unique due to its focus on generating income from options on a single stock, BitMine Immersion Technologies, Inc. (BMNR). Most similar ETFs employ covered call strategies across a basket of stocks or an index, providing greater diversification. YBMN's expense ratio of 0.85% may be higher than some broader covered call ETFs. With an AUM of $0.00B, YBMN is significantly smaller than established covered call ETFs, which can impact liquidity and trading costs. Investors should compare YBMN's concentrated approach with the diversified strategies of other income-generating ETFs.

Does YBMN pay dividends?

According to the available data, the Defiance BMNR Option Income ETF (YBMN) has a dividend yield of 0.00%. This suggests that the fund is not currently distributing dividends to its shareholders. While the fund aims to generate income through its covered call strategy, this income may be reinvested or used to cover expenses, rather than being distributed as dividends. Investors seeking dividend income may want to consider other ETFs with a proven track record of dividend payments.