The YieldMax TSLA Option Income Strategy ETF (NYSEARCA:TSLY) is long Tesla and sells covered calls on its holdings. Although said strategy captures some of Tesla's upside and results in massive distributions, it has many significant downsides. Specifically, the fund is exposed to excessive downside risk, will almost certainly see consistent capital losses and distribution cuts, has a sub-par performance track record, and seems very tax inefficient. In my opinion, these are incredibly significant negatives, and deal-breakers. As such, I would not invest in TSLY.