YieldMax Short COIN Option Income Strategy ETF
BThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.
$15.55−0.14 (−0.89%)
- 1.05%
- $31M
- +36.7%
- 122.76%
- 0.1M sh
- $15.73
- low $14.14high $36.11
The ETF.net FIAT Grade
B
Score 56 out of 100
- 25 of 72
Score 56 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.C51 out of 100Rank 35 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.C44 out of 100Rank 36 of 66Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C52 out of 100Rank 35 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.B61 out of 100Rank 28 of 72
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
- 12
- 109%
- United States Treasury Bill 10/15/2026
Geography
- United States100.00%
FIAT 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.
FIAT$13,669
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 | FIAT |
|---|---|
| Year to date | −0.3% |
| 1 month | −2.5% |
| 3 months | −11.7% |
| 1 year | +36.7% |
| 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 | −0.3% | |
| 2025 | −24.6% | |
| 2024 | −29.6% |
FIAT in the news
FIAT Dividends
- 122.76%
- $19.26
- $0.16 per share
- Weekly
Distribution history
FIAT Risk
- 55.7%
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
1.05%
FIAT1.05%
- The middle half of Single-Stock Option Income funds
- Median 1.07%
33 of the 71 Single-Stock Option Income funds charge less.
Other funds in Single-Stock Option Income
- BCONYYieldMax COIN Option Income Strategy ETFExpense ratio 1.04%1 year return −42.2%
- BCRCOYieldMax CRCL Option Income Strategy ETFExpense ratio 1.01%1 year return −31.4%
- BMUYYGraniteShares YieldBOOST MU ETFExpense ratio 1.07%1 year return —
- BXSHPKurv ETF Trust - Kurv SpaceX Enhanced Income ETFExpense ratio 0.99%1 year return —
- CGOOYYieldMax GOOGL Option Income Strategy ETFExpense ratio 1.14%1 year return +39.9%