YieldMax DKNG Option Income Strategy ETF
CThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.
$11.56+0.04 (+0.35%)
- 1.03%
- $3M
- −40.0%
- 124.55%
- 0M sh
- $11.52
- low $10.91high $39.04
The ETF.net DRAY Grade
C
Score 40 out of 100
- 41 of 72
Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 49
- This cap took
- −9
- Published Score
- 40
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.A70 out of 100Rank 7 of 49Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D27 out of 100Rank 52 of 66Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F24 out of 100Rank 65 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.D34 out of 100Rank 61 of 72
Our read on DRAY
COne stock, DraftKings, run through a weekly option-income machine. DRAY sells call spreads on DKNG instead of plain covered calls, giving up some upfront premium in exchange for continued participation if the shares run past the short strike.
DRAY is actively managed to generate weekly income by selling call spreads on DraftKings Inc., seeking option premiums while retaining participation in DKNG’s share-price appreciation.
Why people hold it
- Call spreads, not plain covered calls: the fund also buys a further out-of-the-money call, so participation continues above that upper strike instead of stopping cold.yieldmaxetfs.comyieldmaxetfs.com
- Weekly pay schedule. Distributions are declared every week rather than monthly or quarterly.yieldmaxetfs.com
- Actively managed, so strikes and expirations get reset as DraftKings' volatility shifts rather than following a fixed calendar rule.yieldmaxetfs.com
- At 1.03% a year, it sits a touch under the typical single-stock option-income fund, though that is still premium pricing next to a plain index fund.
Worth knowing
- Single-issuer exposure: one sports-betting stock drives everything, so DraftKings earnings and regulatory headlines land straight on the fund.yieldmaxetfs.com
- Payouts can include return of capital, meaning part of the check is your own money coming back, which can weigh on net asset value over time.yieldmaxetfs.com
- Small and thinly traded since its 2025 launch, so bid-ask spreads can add cost beyond the headline expense ratio.
DRAY Holdings
- Other
- 8
- 130%
- United States Treasury Bill 02/18/2027
Geography
- United States100.00%
DRAY 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.Not enough history yet.
DRAY$6,000
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 | DRAY |
|---|---|
| Year to date | −42.0% |
| 1 month | −17.4% |
| 3 months | −21.6% |
| 1 year | −40.0% |
| 3 years | — |
| 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 | DRAY |
|---|---|---|
| 2026 YTD | −42.0% | |
| 2025 | −19.3% |
DRAY in the news
DRAY Dividends
- 124.55%
- $14.35
- $0.09 per share
- Weekly
Distribution history
DRAY Risk
- 39.9%
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.
- −1.63
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.
- −60.5%
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.
- 1.34
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
DRAY Cost
1.03%
DRAY1.03%
- The middle half of Single-Stock Option Income funds
- Median 1.07%
28 of the 71 Single-Stock Option Income funds charge less.
Other funds in Single-Stock Option Income
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- CGMEYYieldMax GME Option Income Strategy ETFExpense ratio 1.01%1 year return −7.5%
- CIOYYGraniteShares YieldBOOST IONQ ETFExpense ratio 1.07%1 year return —
- CMAAYGraniteShares YieldBOOST MARA ETFExpense ratio 1.07%1 year return —