YieldMax DKNG Option Income Strategy ETF
$12.41−0.42 (−3.27%)
- Expense ratio
- 1.03%
- Fund size
- $3M
- 1Y return
- −50.9%
- Yield · Last 12 months
- 109.60%
- Volume · 30D
- 0M sh
- NAV per share
- $12.91
- 52W range
The ETF.net DRAY Grade
Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 56Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 70Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.FScore 17Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 20Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 36Category rank
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
- —
- 120%
- United States Treasury Bill 02/18/2027
Geography
DRAY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | −37.0% |
| 1 month | −12.2% |
| 3 months | −12.4% |
| 1 year | −50.9% |
| 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 | −37.0% | |
| 2025 | −19.3% |
DRAY in the news
ETF.net Research hasn’t filed on DRAY yet — coverage lands here as it’s written.
DRAY Dividends
- 109.60%
- $14.06
- $0.12 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 17, 2026 | Sep 18, 2026 | $0.12 |
| Sep 10, 2026 | Sep 11, 2026 | $0.09 |
| Sep 3, 2026 | Sep 4, 2026 | $0.15 |
| Aug 27, 2026 | Aug 28, 2026 | $0.18 |
| Aug 20, 2026 | Aug 21, 2026 | $0.14 |
| Aug 13, 2026 | Aug 14, 2026 | $0.15 |
| Aug 6, 2026 | Aug 7, 2026 | $0.15 |
| Jul 30, 2026 | Jul 31, 2026 | $0.15 |
| Jul 23, 2026 | Jul 24, 2026 | $0.16 |
| Jul 16, 2026 | Jul 17, 2026 | $0.16 |
| Jul 9, 2026 | Jul 10, 2026 | $0.19 |
| Jul 2, 2026 | Jul 6, 2026 | $0.19 |
DRAY Risk
- 39.2%
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.
- −1.35
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.
- −57.9%
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.
- 1.23
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
- The middle half of Single-Stock Option Income funds
- Median 1.07%
28 of the 71 Single-Stock Option Income funds charge less.