YieldMax Short COIN Option Income Strategy ETF
$14.85+0.19 (+1.30%)
- Expense ratio
- 1.05%
- Fund size
- $28M
- 1Y return
- +11.5%
- Yield · Last 12 months
- 128.09%
- Holdings
- 11
- Volume · 30D
- 0.1M sh
- NAV per share
- $14.63
- 52W range
The ETF.net FIAT Grade
Score 56 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.AScore 70Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 41Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 59Category 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.BScore 61Category rank
Our read on FIAT
BAlmost every single-stock income ETF leans bullish. FIAT flips the script: a YieldMax fund that runs weekly put spreads tied to Coinbase and pays monthly, with the option book pointed at the short side.
The fund is actively managed to generate weekly income through a put spread strategy linked to Coinbase Global Inc.
Why people hold it
- The short-side sibling in a Coinbase cohort built mostly on the long side (CONY, COYY): same underlying stock, opposite tilt.
- The income engine works weekly through put spreads on Coinbase, while cash goes out to shareholders on a monthly schedule.
- Actively managed rather than run to a fixed formula, so the option positions get reset as Coinbase's option pricing shifts.
Worth knowing
- One stock, expressed through options. Coinbase's swings drive the fund's value and its payouts, with no diversification to soften them.
- The 1.05% expense ratio is right at the middle of the COIN option-income group, but it is many times what a plain index fund charges.
- Launched in 2024, so the track record is short, and income sourced from option premiums varies from month to month.
FIAT Holdings
- Other
- 11
- 127%
- United States Treasury Bill 10/15/2026
Geography
FIAT 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 | FIAT |
|---|---|
| Year to date | −9.8% |
| 1 month | −7.3% |
| 3 months | −19.9% |
| 1 year | +11.5% |
| 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 | FIAT |
|---|---|---|
| 2026 YTD | −9.8% | |
| 2025 | −24.6% | |
| 2024 | −29.6% |
FIAT in the news
ETF.net Research hasn’t filed on FIAT yet — coverage lands here as it’s written.
FIAT Dividends
- 128.09%
- $18.78
- $0.18 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 17, 2026 | Sep 18, 2026 | $0.18 |
| Sep 10, 2026 | Sep 11, 2026 | $0.16 |
| Sep 3, 2026 | Sep 4, 2026 | $0.21 |
| Aug 27, 2026 | Aug 28, 2026 | $0.22 |
| Aug 20, 2026 | Aug 21, 2026 | $0.31 |
| Aug 13, 2026 | Aug 14, 2026 | $0.31 |
| Aug 6, 2026 | Aug 7, 2026 | $0.36 |
| Jul 30, 2026 | Jul 31, 2026 | $0.27 |
| Jul 23, 2026 | Jul 24, 2026 | $0.27 |
| Jul 16, 2026 | Jul 17, 2026 | $0.26 |
| Jul 9, 2026 | Jul 10, 2026 | $0.27 |
| Jul 2, 2026 | Jul 6, 2026 | $0.46 |
FIAT Risk
- 56.9%
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.
- −0.32
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.
- −70.7%
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.
- −2.39
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FIAT Cost
- The middle half of Single-Stock Option Income funds
- Median 1.07%
33 of the 71 Single-Stock Option Income funds charge less.