YieldMax META Option Income Strategy ETF
This fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.
$9.97+0.14 (+1.48%)
History starts Jul 28, 2023.
- Expense ratio
- 1.06%
- Fund size
- $126M
- 1Y return
- −9.0%
- Yield · Last 12 months
- 46.81%
- Holdings
- 9
- Volume · 30D
- 0.2M sh
- NAV per share
- $9.88
- 52W range
The ETF.net FBY Grade
Score 58 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 51Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.BScore 58Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 51Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 72Category 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.AScore 81Category rank
Our read on FBY
BFBY doesn't own a single share of Meta. It rebuilds META exposure with options, then sells calls against that position to turn the stock's volatility into monthly income. Capped upside is the price of admission.
The fund seeks weekly income by selling call spreads on Meta Platforms Inc. Its strategy aims to harvest option premiums from META volatility while retaining some participation in META share-price appreciation.
Why people hold it
- Options do the work: a synthetic long on META, covered calls written against it, Treasuries as collateral. You ride META's moves up to a cap and collect the premium.sec.gov
- The 1.06% expense ratio sits right at the median for single-stock option-income funds, so the Meta version costs no more than the rest of the shelf.
- Pays monthly and trades as an ordinary 1940 Act ETF: brokerage account, 1099, no partnership paperwork.
- Launched in 2023 with YieldMax's first wave of single-stock income funds, and it lands in the upper half of a crowded peer group.sec.gov
Worth knowing
- The calls it sells cap the upside. If META rips, the fund keeps the premium and gives up the rest, while exposure to a drop stays close to full.sec.gov
- Income comes from option premiums, which swell and shrink with META's volatility. The cadence is monthly; the size of each payout is not fixed.
- Everything rides on one company, and the portfolio holds options and Treasuries rather than META stock, so no shareholder rights come with it.sec.gov
FBY Holdings
- Other
- 9
- 101%
- United States Treasury Note/Bond 2.375% 05/15/2027
Geography
FBY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FBY$9,100
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 | FBY |
|---|---|
| Year to date | +4.3% |
| 1 month | +24.5% |
| 3 months | +20.3% |
| 1 year | −9.0% |
| 3 years | +22.8% |
| 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 | FBY |
|---|---|---|
| 2026 YTD | +4.3% | |
| 2025 | +2.0% | |
| 2024 | +43.8% | |
| 2023 | +15.5% |
FBY in the news
FBY Dividends
- 46.81%
- $4.60
- $0.07 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 17, 2026 | Sep 18, 2026 | $0.07 |
| Sep 10, 2026 | Sep 11, 2026 | $0.06 |
| Sep 3, 2026 | Sep 4, 2026 | $0.05 |
| Aug 27, 2026 | Aug 28, 2026 | $0.05 |
| Aug 20, 2026 | Aug 21, 2026 | $0.05 |
| Aug 13, 2026 | Aug 14, 2026 | $0.07 |
| Aug 6, 2026 | Aug 7, 2026 | $0.08 |
| Jul 30, 2026 | Jul 31, 2026 | $0.09 |
| Jul 23, 2026 | Jul 24, 2026 | $0.10 |
| Jul 16, 2026 | Jul 17, 2026 | $0.14 |
| Jul 9, 2026 | Jul 10, 2026 | $0.07 |
| Jul 2, 2026 | Jul 6, 2026 | $0.06 |
FBY Risk
- 25.1%
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.
- 0.55
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.
- −31.5%
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.
- 1.11
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FBY Cost
1.06%
FBY1.06%
- The middle half of Single-Stock Option Income funds
- Median 1.07%
34 of the 71 Single-Stock Option Income funds charge less.