YieldMax MARA 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.
$3.10−0.08 (−2.52%)
- 1.00%
- $51M
- −55.2%
- 208.00%
- 0.6M sh
- $3.26
- low $3.17high $20.62
The ETF.net MARO Grade
B
Score 59 out of 100
- 16 of 72
Score 59 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.A83 out of 100Rank 6 of 72Mission
Whether the fund did what it promised, tested against its stated mandate.B61 out of 100Rank 28 of 49Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F13 out of 100Rank 63 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.B69 out of 100Rank 15 of 72
Our read on MARO
BIncome squeezed out of a bitcoin miner that trades like one. Launched in December 2024, MARO sells call spreads on MARA rather than plain covered calls, so the upside it gives away is a band, not everything above one strike.
The fund seeks weekly income by actively selling call spreads on MARA while retaining participation in MARA share-price appreciation.
Why people hold it
- The spread twist: sell one call, own a higher-strike one. The giveaway is limited to the gap between strikes, and the fund keeps participating in MARA above it.
- A 1.00% expense ratio, a touch under the typical single-stock option income fund and under YieldMax's other MARA vehicle, MAAY, at 1.07%.
- One of the stronger builds in a crowded single-stock income cohort, and it trades actively, so getting in and out is rarely the hard part.
- Standard 1940 Act fund wrapper with income as the stated goal: distributions on a regular schedule, a 1099 at tax time, no K-1 paperwork.
Worth knowing
- Everything rides on one bitcoin miner. No diversification, and the fund's measured risk sits at the wild end of its peer group.
- MARA exposure comes through options, not shares. You hold a fund, not the stock, and the spread narrows the upside cap without removing it.
- Payouts come from option premiums, which rise and fall with MARA's volatility. The income stream is variable by design.
MARO Holdings
- Other
- 10
- 127%
- United States Treasury Bill 02/18/2027
Geography
- United States100.00%
MARO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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MARO$4,481
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 | MARO |
|---|---|
| Year to date | −16.4% |
| 1 month | −21.2% |
| 3 months | −28.3% |
| 1 year | −55.2% |
| 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 | MARO |
|---|---|---|
| 2026 YTD | −16.4% | |
| 2025 | −48.1% | |
| 2024 | −19.6% |
MARO in the news
MARO Dividends
- 208.00%
- $6.61
- $0.05 per share
- Weekly
Distribution history
MARO Risk
- 50.5%
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.
- −0.56
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.
- −71.7%
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.
- 2.43
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MARO Cost
1.00%
MARO1.00%
- The middle half of Single-Stock Option Income funds
- Median 1.07%
14 of the 71 Single-Stock Option Income funds charge less.
Other funds in Single-Stock Option Income
- BJPOYieldMax JP Option Income Strategy ETFExpense ratio 1.04%1 year return —
- BNFLYYieldMax NFLX Option Income Strategy ETFExpense ratio 1.01%1 year return −38.4%
- BSMCYYieldMax SMCI Option Income Strategy ETFExpense ratio 1.01%1 year return −24.4%
- BAIYYYieldMax AI Option Income Strategy ETFExpense ratio 0.99%1 year return −42.8%
- BAPLYYieldMax AAPL Option Income Strategy ETFExpense ratio 1.04%1 year return +24.3%