TSLY Dividend Analysis & History
A deep dive into the distributions of the popular Tesla-linked covered call ETF.
The YieldMax Tesla Option Income Strategy ETF (TSLY) was one of the first single-stock covered call ETFs to capture retail investors' imagination. By generating income from options traded on Tesla (TSLA) stock, TSLY offers a way to monetize the famously high volatility of the EV maker. However, this high yield comes with unique structural risks.
Key Metrics
| Current Dividend Yield | 94.77% |
|---|---|
| Payout Frequency | Monthly |
| Ex-Dividend Dates | Generally the first week of the month |
| P/E Ratio | N/A |
| Expense Ratio | N/A |
| AUM | $949.81M |
| Sector Breakdown | Derivative Income |
5-Year Dividend History
Tracking historical payouts over the last five years provides insight into the consistency and trajectory of income distributions.
| Date | Amount ($) |
|---|---|
| 2026-03-12 | $0.2850 |
| 2026-03-05 | $0.2960 |
| 2026-02-26 | $0.3150 |
| 2026-02-19 | $0.3210 |
| 2026-02-12 | $0.3310 |
| 2026-02-05 | $0.3300 |
| 2026-01-29 | $0.3240 |
| 2026-01-22 | $0.2870 |
| 2026-01-15 | $0.3500 |
| 2026-01-08 | $0.3180 |
| 2026-01-02 | $0.3660 |
| 2025-12-26 | $0.6290 |
| 2025-12-18 | $0.4200 |
| 2025-12-11 | $0.4240 |
| 2025-12-04 | $0.9350 |
| 2025-11-28 | $0.4800 |
| 2025-11-20 | $0.4450 |
| 2025-11-13 | $0.4800 |
| 2025-11-06 | $0.7350 |
| 2025-10-30 | $0.5650 |
| 2025-10-23 | $0.8250 |
| 2025-10-16 | $0.9700 |
| 2025-10-02 | $4.0100 |
| 2025-09-04 | $1.9650 |
| 2025-08-07 | $1.5050 |
| 2025-07-10 | $1.9350 |
| 2025-06-12 | $2.0150 |
| 2025-05-15 | $3.8000 |
| 2025-04-17 | $3.3000 |
| 2025-03-20 | $2.3200 |
| 2025-02-20 | $2.8950 |
| 2025-01-23 | $3.5850 |
| 2024-12-27 | $6.4300 |
| 2024-11-29 | $6.1050 |
| 2024-10-31 | $2.9950 |
| 2024-10-03 | $5.4750 |
| 2024-09-06 | $4.0950 |
| 2024-08-07 | $4.8300 |
| 2024-07-05 | $5.0200 |
| 2024-06-06 | $3.2250 |
| 2024-05-06 | $3.4700 |
| 2024-04-04 | $3.4200 |
| 2024-03-06 | $4.0550 |
| 2024-02-07 | $4.0500 |
| 2024-01-05 | $5.5700 |
| 2023-12-07 | $6.0400 |
| 2023-11-08 | $5.8500 |
| 2023-10-06 | $5.7700 |
| 2023-09-08 | $5.8500 |
| 2023-08-04 | $8.3000 |
| 2023-07-07 | $10.6600 |
| 2023-06-07 | $8.0300 |
| 2023-05-05 | $4.4000 |
| 2023-04-06 | $8.2900 |
| 2023-03-08 | $9.0200 |
| 2023-02-08 | $9.0300 |
| 2023-01-10 | $9.9900 |
Dividend Growth Rate Analysis
TSLY's distribution history has been characterized by high nominal yields but significant month-to-month variation. Because the fund caps the upside participation in Tesla stock to generate income, NAV erosion is a common concern, especially during sharp rallies in the underlying stock.
When analyzing the TSLY dividend yield for 2025, investors must look beyond the trailing 12-month figure. The actual payout is a function of Tesla's implied volatility at the time the fund's managers roll their option positions. Higher VIX and TSLA volatility directly correlate to higher potential distributions.
Consequently, while the income stream can be lucrative in sideways or choppy markets, long-term investors must weigh the distributions against the potential for capital depreciation. Reinvesting a portion of the dividends is often recommended to maintain the initial investment principal.
TSLY focuses on generating yield from Tesla (TSLA), an notoriously volatile stock. Therefore, its performance and dividend output are intrinsically tied to the market sentiment surrounding electric vehicles and Tesla's specific operational milestones. When Tesla undergoes significant price swings, the options premiums expand, driving up the potential distributions that TSLY can pay out to its shareholders.
However, this structural setup creates a unique risk profile known as NAV erosion. Since covered calls inherently limit upside participation while exposing the holder to full downside risk, a sharp drop in Tesla's price will negatively impact TSLY's Net Asset Value. If Tesla then rebounds quickly, TSLY may not capture the full recovery because the written calls might be exercised, forcing the fund to buy back in at higher prices or miss the rally entirely.
Therefore, analyzing TSLY requires a different framework than traditional dividend growth investing. Instead of looking for steady, predictable payout increases funded by growing free cash flow, investors must evaluate TSLY as a tactical income tool. Its 'dividend growth' is merely a reflection of implied volatility spikes rather than fundamental business improvements, making it a highly cyclical and risk-on asset within an income portfolio.
Comparison to Category Average
Within the category of alternative income funds, TSLY stands as an extreme outlier compared to broad-market peers. Traditional index-based covered call ETFs might average a 10% distribution yield, while TSLY often prints annualized yields well over 40% due to the sheer volatility of Tesla stock.
When compared to other single-stock covered call ETFs, TSLY's yield remains near the top, frequently competing with other high-beta underlying assets like NVIDIA or Coinbase. However, its total return profile is highly path-dependent on Tesla's specific price action.
Investors comparing TSLY to a category average must remember that they are swapping broad diversification for hyper-concentrated risk. The category average provides a smoother ride with predictable, albeit lower, income. TSLY provides maximum income generation at the cost of high principal volatility and potential capital erosion.
Understanding TSLY's Covered Call Mechanics
To truly grasp the nature of TSLY's distributions, one must delve into the mechanics of its covered call strategy. TSLY does not simply buy Tesla stock and hold it. Instead, it employs a synthetic long position using options, coupled with selling short-term (often weekly or monthly) call options to generate premium income.
This strategy is highly dependent on Tesla's implied volatility. When the market expects massive price swings in Tesla stock—perhaps ahead of earnings reports, delivery numbers, or major product announcements—option premiums skyrocket. This allows TSLY's managers to collect substantial income, which is then distributed to shareholders, resulting in the eye-popping yields that have made the fund famous.
The Double-Edged Sword of High Volatility
While high volatility is the engine that drives TSLY's massive yield, it is also the source of its greatest risk: Net Asset Value (NAV) decay. If Tesla stock experiences a rapid, sustained rally, the short call options will be exercised, capping TSLY's upside. The fund misses out on the bulk of the gains.
Conversely, if Tesla stock plummets, TSLY absorbs the full downside impact (minus the premiums collected). If this cycle of capped upside and full downside repeats over time, the fundamental value of the ETF will steadily erode. Therefore, a high distribution yield does not guarantee a positive total return.
Analyzing the TSLY Dividend Yield 2025
Looking ahead to the TSLY dividend yield in 2025 and beyond requires an assessment of Tesla's future volatility profile. As Tesla matures from a hyper-growth speculative tech stock into an established, mass-market automaker, its historic volatility may begin to compress. If implied volatility decreases, the option premiums that TSLY collects will also decrease, leading to lower distribution yields.
However, Tesla remains uniquely sensitive to macroeconomic factors, interest rates, and the unpredictable nature of its CEO. Assuming these factors continue to drive significant price swings, TSLY should be able to maintain yields that are vastly superior to broad-market averages, even if they normalize slightly from their all-time highs.
Strategies for Mitigating TSLY Risk
For investors determined to capture TSLY's high yield, risk mitigation is paramount. One common strategy is 'yield harvesting' combined with strict capital preservation. This involves taking the massive monthly distributions in cash rather than reinvesting them, allowing the investor to recoup their initial investment rapidly.
Another approach is pairing TSLY with a long position in the underlying asset or a broad market index. This hybrid strategy attempts to capture the massive income from the covered calls while maintaining some un-capped upside exposure to offset potential NAV decay over the long run.
The Verdict on TSLY for Income Portfolios
In conclusion, TSLY is a specialized, high-octane income instrument, not a buy-and-forget dividend stock. It requires active monitoring and a deep understanding of the trade-offs between current income and capital preservation. For the aggressive income investor willing to manage the associated risks, it remains one of the most potent tools in the ETF landscape.
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Frequently Asked Questions
How can I check the tsly dividend history?
You can view the TSLY dividend history spanning the last five years (since inception) in our tracking table above, which lists the historical payouts. Data is also available on major financial portals.
What is the tsly dividend?
The TSLY dividend is a monthly income distribution generated by the ETF's strategy of writing covered calls on Tesla (TSLA) stock. The payout consists of the options premiums collected minus fund expenses.
What is the tsly dividend yield?
TSLY's dividend yield is extremely high compared to broad market funds, currently calculating around 94.77%. However, this yield is variable and based on recent payouts rather than a fixed commitment.
When is the tsly dividend date?
TSLY typically declares its dividend in the first week of every month, with the ex-dividend date shortly thereafter. The exact dates are published in advance by YieldMax.
What is the projected tsly dividend yield 2025?
The TSLY dividend yield in 2025 will depend entirely on the options premiums available on Tesla stock throughout the year. If volatility remains high, the yield will likely remain elevated, but it cannot be accurately predicted in advance.