YieldMax AAPL Option Income Strategy ETF
BThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.
$11.92−0.01 (−0.08%)
- 1.04%
- $120M
- +24.3%
- 33.94%
- 0.1M sh
- $11.77
- low $11.05high $14.21
The ETF.net APLY Grade
B
Score 58 out of 100
- 18 of 72
Score 58 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B56 out of 100Rank 30 of 72Mission
Whether the fund did what it promised, tested against its stated mandate.C45 out of 100Rank 39 of 49Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A70 out of 100Rank 17 of 66Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B66 out of 100Rank 14 of 72Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A83 out of 100Rank 5 of 72
Our read on APLY
BRuns the Apple covered-call trade with options standing in for Apple stock: premium income up front, upside capped on the way. A first-wave YieldMax fund from 2023, priced under the other AAPL option-income ETF.
The Fund seeks current income and exposure to Apple Inc. share-price returns, with potential gains limited by its options strategy.
Why people hold it
- The mechanism is stated plainly in the prospectus: current income plus exposure to Apple's share-price returns, with potential gains limited by the options strategy. No mystery about the trade you're making.
- At 1.04%, it undercuts AAPY, the other AAPL option-income fund, and sits just below the typical fee in its single-stock income cohort.
- Live since 2023, an early entrant in a category that has since filled with lookalikes, and among the stronger builds in a crowded field of single-stock income funds.
- Trades actively enough for a niche single-stock product, so getting in and out doesn't depend on thin-market luck.
Worth knowing
- Capped by design. The calls it sells limit how much of an Apple rally the fund keeps, while a drop in Apple still flows through.
- You hold a synthetic options position, not Apple shares. No shareholder rights, and no Apple dividend passing through to you.
- Payouts swing with option premiums, and YieldMax discloses that some of a distribution can be return of capital: your own money coming back, not profit.yieldmaxetfs.com
APLY Holdings
- Other
- 10
- 103%
- United States Treasury Bill 10/15/2026
Geography
- United States100.00%
APLY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
APLY$12,427
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | APLY |
|---|---|
| Year to date | +14.4% |
| 1 month | +3.0% |
| 3 months | +5.3% |
| 1 year | +24.3% |
| 3 years | +14.7% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | APLY |
|---|---|---|
| 2026 YTD | +14.4% | |
| 2025 | +3.8% | |
| 2024 | +18.7% | |
| 2023 | +11.5% |
APLY in the news
APLY Dividends
- 33.94%
- $4.05
- $0.06 per share
- Weekly
Distribution history
APLY Risk
- 15.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.72
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −31.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.65
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
APLY Cost
1.04%
APLY1.04%
- The middle half of Single-Stock Option Income funds
- Median 1.07%
30 of the 71 Single-Stock Option Income funds charge less.
Other funds in Single-Stock Option Income
- BSMCYYieldMax SMCI Option Income Strategy ETFExpense ratio 1.01%1 year return −24.4%
- BAIYYYieldMax AI Option Income Strategy ETFExpense ratio 0.99%1 year return −42.8%
- BRDYYYieldMax RDDT Option Income Strategy ETFExpense ratio 1.01%1 year return −15.0%
- BAAPYKurv Yield Premium Strategy Apple (AAPL) ETFExpense ratio 1.15%1 year return +37.8%
- BFBYYieldMax META Option Income Strategy ETFExpense ratio 1.06%1 year return −1.6%