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Launched · SEC filings

YieldMax AAPL Option Income Strategy ETF

APLYNYSE ArcaYieldMaxBThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.

$11.75−0.14 (−1.18%)

At close: Nov 2, 2026, 4:00 PM ET

B61/ 100

Rank 19 of 72 in Single-Stock Option Income

B61/100Rank 19 of 72inSingle-Stock Option Income
Intraday session: down, 79 prints from 11.89 to 11.75. Range 11.65 to 11.93. Use the arrow keys to read each point.11.6511.7011.8011.8510 AM12 PM2 PM4 PM
Expense ratio
1.04%
Fund size
$111M
1Y total return
+17.3%
Yield · Last 12 months
31.90%
Holdings
10
Avg volume · 30D
95.8K sh
52W range
low $11.05high $14.21
Launched
Filings
SEC EDGAR

The ETF.net APLY Grade

Based on 5 of 6 pillars

B

Score 61 out of 100

Category
Single-Stock Option Income⁠
Rank
19 of 72
Six-pillar profile for APLY. Scores out of 100: Cost 49, Risk 77, Mission 57, Tradability 71, Holdings not scored, Durability 85. Strongest: Durability (85). Weakest: Cost (49). Based on 5 of 6 pillars.

Score 61 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.
    C49 out of 100
    Rank 35 of 72

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B57 out of 100
    Rank 33 of 50

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A77 out of 100
    Rank 11 of 70

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A71 out of 100
    Rank 5 of 72

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A85 out of 100
    Rank 5 of 72

Our read on APLY

ETF.net Research

In short

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.

Stated mandate

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

Asset class
Other
Holdings
10
Top-10 weight
102%
Largest holding
United States Treasury Note/Bond 3.375% 09/15/202726.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataUnited States Treasury Note/Bond 3.375% 09/15/202726.02%29,199,000$28.9M53
2No dataUnited States Treasury Bill 07/08/202724.67%28,238,000$27.4M67
3No dataUnited States Treasury Bill 02/18/202714.66%16,503,000$16.3M60
4No dataUnited States Treasury Note/Bond 2.375% 05/15/202713.88%15,602,000$15.4M57
5No dataAapl 12/18/2026 310.01 C12.09%3,380$13.4M1
6No dataCash & Other6.40%7,114,795$7.11M609
7No dataFirst American Government Obligations Fund 12/01/20312.20%2,442,860$2.44M477
8No dataUnited States Treasury Bill 12/10/20261.84%2,056,000$2.05M50
9No dataAapl Us 11/06/26 C3600.46%2,180$516K2
10No dataAapl Us 11/06/26 C362.50.20%1,200$221K3

Showing 1–10 of 10 holdings

APLY Performance

Launched Apr 17, 2023

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$11,731
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. APLY $11,731. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for APLY. Periods over one year show the average yearly return.
PeriodAPLY
Year to date+15.6%
1 month+3.5%
3 months+9.1%
1 year+17.3%
3 yearsper year+16.3%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for APLY
YearReturn barAPLY
2026 YTD+15.6%
2025+3.8%
2024+18.7%
2023+11.5%

History from Apr 18, 2023

APLY in the news

APLY Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
31.90%Last 12 months
Payout per share
$3.79Last 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Weekly

Distribution history

2026

One bar per payment. 44 payments in 2026 YTD. Jan 2, 2026 $0.05; Jan 8, 2026 $0.05; Jan 15, 2026 $0.04; Jan 22, 2026 $0.05; Jan 29, 2026 $0.05; Feb 5, 2026 $0.06; Feb 12, 2026 $0.18; Feb 19, 2026 $0.05; Feb 26, 2026 $0.09; Mar 5, 2026 $0.06; Mar 12, 2026 $0.06; Mar 19, 2026 $0.05; Mar 26, 2026 $0.06; Apr 2, 2026 $0.06; Apr 9, 2026 $0.06; Apr 16, 2026 $0.07; Apr 23, 2026 $0.09; Apr 30, 2026 $0.10; May 7, 2026 $0.10; May 14, 2026 $0.12; May 21, 2026 $0.11; May 28, 2026 $0.12; Jun 4, 2026 $0.11; Jun 11, 2026 $0.07; Jun 18, 2026 $0.06; Jun 25, 2026 $0.05; Jul 2, 2026 $0.05; Jul 9, 2026 $0.06; Jul 16, 2026 $0.08; Jul 23, 2026 $0.10; Jul 30, 2026 $0.14; Aug 6, 2026 $0.06; Aug 13, 2026 $0.06; Aug 20, 2026 $0.06; Aug 27, 2026 $0.06; Sep 3, 2026 $0.06; Sep 10, 2026 $0.05; Sep 17, 2026 $0.07; Sep 24, 2026 $0.08; Oct 1, 2026 $0.07; Oct 8, 2026 $0.06; Oct 15, 2026 $0.06; Oct 22, 2026 $0.05; Oct 29, 2026 $0.06. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 29, 2026Oct 30, 2026$0.06
Oct 22, 2026Oct 23, 2026$0.05
Oct 15, 2026Oct 16, 2026$0.06
Oct 8, 2026Oct 9, 2026$0.06
Oct 1, 2026Oct 2, 2026$0.07
Sep 24, 2026Sep 25, 2026$0.08
Sep 17, 2026Sep 18, 2026$0.07
Sep 10, 2026Sep 11, 2026$0.05
Sep 3, 2026Sep 4, 2026$0.06
Aug 27, 2026Aug 28, 2026$0.06
Aug 20, 2026Aug 21, 2026$0.06
Aug 13, 2026Aug 14, 2026$0.06

See all 84 payments⁠

$10,000 in APLY 3 years ago paid $6,808 in dividends.⁠

APLY Risk

Risk pillarA77 out of 100Rank 11 of 70 in Single-Stock Option Income
How much the fund’s monthly returns vary, scaled to a year.
15.4%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.78
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−31.0%
42 months · trough Apr 2025
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.

How strongly the fund’s returns move with its asset-class index.
0.65
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

APLY Cost

Compare APLY and KWIN

Overpaying vs KWIN, cheapest in Single-Stock Option Income

$9,169

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • APLY 1.04%

    $19,334

  • KWIN 0.51% Cheapest

    $10,165

$10,000
30 years

Cost over time

  • APLY 1.04%
  • KWIN 0.51%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530APLY $19,334KWIN $10,165

Year by year

YearAPLYKWINOverpaying
10$1,831$918$913
20$6,867$3,527$3,340
30$19,334$10,165$9,169

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