When the first thing that an exchange-traded fund (ETF) places on its website is a list of warnings, well, you should probably pay attention. And a list of warnings is exactly what you'll find at the top left of the Yieldmax NVDA Option Income Strategy ETF (NYSEMKT: NVDY) product-information page. Unfortunately, what appears to the right side will likely get much more attention -- a distribution yield of 77%! That's not a typo. There's a lot to think about, however, before you buy this ETF.

When dealing with risky investments, the Securities and Exchange Commission (SEC) usually makes a product sponsor spell out the risks so investors can clearly understand what they are getting into. Normally, however, those risks aren't placed front and center, and often get buried in a prospectus. The Yieldmax NVDA ETF has taken a radically different approach. Right at the top of its production-information website, it explains:

The Fund does not invest directly in NVDA.

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Source Fool.com