Category Review
The median crypto option-income fund lost more than bitcoin over the year and trailed its rebound
YieldMax Bitcoin Option Income Strategy ETF
DThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.
$20.61+0.12 (+0.59%)
- 1.02%
- $60M
- −27.6%
- 72.43%
- 0M sh
- $20.36
- low $17.86high $48.60
The ETF.net YBIT Grade
D
Score 38 out of 100
- 19 of 22
Score 38 of 100 falls in the D 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.F17 out of 100Rank 18 of 22Mission
Whether the fund did what it promised, tested against its stated mandate.A70 out of 100Rank 1 of 4Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B56 out of 100Rank 8 of 22Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B55 out of 100Rank 9 of 22Holdings
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.B67 out of 100Rank 8 of 22
Our read on YBIT
DBitcoin income without the coins. It sells call spreads on a spot bitcoin ETF, aiming to turn crypto's volatility into weekly income. The spread, not a plain covered call, is the signature move: the ceiling is a band, not a lid.
The fund seeks weekly current income by selling call spreads on the iShares Bitcoin Trust ETF (IBIT), while retaining exposure to that underlying's price movements.
Why people hold it
- Sells call spreads rather than plain covered calls, so upside is given away inside a band and participation picks back up above the upper strike.yieldmaxetfs.com
- Bitcoin-linked exposure through options on the iShares Bitcoin Trust ETF inside a 1940 Act fund. No wallet, no keys, no crypto exchange account.yieldmaxetfs.com
- Income is premium-driven and paid on a weekly cadence, with no fixed payout rate declared. The premium harvested rises and falls with bitcoin's volatility.yieldmaxetfs.com
- Launched in 2024, one of the earlier options-income funds written directly on a spot bitcoin ETF rather than on futures.
Worth knowing
- The 1.02% expense ratio sits above several crypto-income peers, including BAGY at 0.65% and CEPI at 0.85%.
- One reference, one risk: the entire strategy rides on a single bitcoin ETP, with no diversification to cushion it.
- A small fund that trades lightly, so bid-ask spreads can be wider than in the big option-income names. Limit orders matter here.
YBIT Holdings
- Other
- 11
- 104%
- United States Treasury Note/Bond 2.375% 05/15/2027
YBIT 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.
YBIT$7,239
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 | YBIT |
|---|---|
| Year to date | −8.7% |
| 1 month | +4.5% |
| 3 months | +23.2% |
| 1 year | −27.6% |
| 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 | YBIT |
|---|---|---|
| 2026 YTD | −8.7% | |
| 2025 | −2.4% | |
| 2024 | +1.2% |
YBIT in the news
YBIT Dividends
- 72.43%
- $14.84
- $0.17 per share
- Weekly
Distribution history
YBIT Risk
- 36.3%
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.
- 0.06
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.
- −47.2%
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.
- 1.02
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
YBIT Cost
1.02%
YBIT1.02%
- The middle half of Crypto Option Income funds
- Median 0.85%
16 of the 21 Crypto Option Income funds charge less.
Other funds in Crypto Option Income
- CETTYAmplify ETF Trust - Amplify Ethereum 3% Monthly Option Income ETFExpense ratio 0.75%1 year return −43.1%
- CSOLMAmplify ETF Trust - Amplify Solana 3% Monthly Option Income ETFExpense ratio 0.75%1 year return —
- DXBTYGraniteShares YieldBOOST Bitcoin ETFExpense ratio 11.40%1 year return −33.5%
- DXEYGraniteShares YieldBOOST Ether ETFExpense ratio 1.07%1 year return —
- DMAXISimplify Bitcoin Strategy PLUS Income ETFExpense ratio 1.31%1 year return −37.6%