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YBMN

GradeCNASDAQ Global Market

Defiance BMNR Option Income ETF

Single-stock strategy · Option Income · Defiance · Inception 2025-11-24

This fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.

$12.57+0.01 (+0.12%)

At close: Aug 20, 2026, 4:00 PM EDT

Market opens at 9:30 AM ET.History starts Nov 25, 2025.History starts Nov 25, 2025.
Intraday session: down, 5 prints from 12.59 to 12.57. Range 12.57 to 12.61. Use the arrow keys to read each point.$12.57$12.58$12.59$12.60$12.61Aug 18Aug 19Aug 21Aug 24
Expense ratio
0.85%
Fund size
$3M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
2
Volume · 30D
0M sh
NAV per share
$12.60
52W range
low $9.37high $30.98

The ETF.net YBMN Grade

C

40/ 100

Rank 44 of 61 in Single-Stock Option Income⁠

Confidence Medium

Six-pillar profile for YBMN. Scores out of 100: Cost 96, Risk 27, Mission 56, Tradability 31, Holdings not scored, Durability 43. Strongest: Cost (96). Weakest: Risk (27). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned59This cap took−19Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 96
    Category rank4/61 · top 7%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    BScore 56
    Category rank24/47 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 27
    Category rank47/59 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 31
    Category rank54/61 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 43
    Category rank46/61 · bottom quartile

Graded as of Sep 1, 2026 · Based on 5 of 6 pillars

Our read on YBMN

ETF.net Research

COptions income on BitMine Immersion, the company that stockpiled Ethereum on its balance sheet. YBMN writes weekly calls against synthetic BMNR exposure, swapping a slice of upside for cash payouts.

Stated mandate

The Fund seeks current income and exposure to BMNR’s share price, with potential gains limited by its options strategy.

Why people hold it

  1. 01Fee of 0.85% a year sits below the typical single-stock option income fund. Cheap is rare in this corner of the market.
  2. 02First income ETF written on BMNR, co-managed with risk specialist Milliman, using a three-engine weekly option-writing framework rather than one static covered call.defianceetfs.cominvestingnews.com
  3. 03Targets weekly distributions while keeping up to 80% exposure to BMNR, so premium income does not come at the cost of the stock's entire move.defianceetfs.com

Worth knowing

  1. 01Holds options and cash instruments, not BMNR shares. Upside is limited by the calls it sells, while BitMine's crypto-driven drops still flow through.defianceetfs.com
  2. 02Payouts can include return of capital, meaning part of a distribution may be your own principal coming back rather than earned income.
  3. 03Launched in late 2025, small and lightly traded, so spreads and order execution matter more here than with the category's largest funds.

YBMN Holdings

As of Sep 2, 2026, 3:01 AM
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
First American Government Obligations Fund 12/01/2031100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/203199.95%3,148,594$3M—
002—Cash & Other0.05%1,519$2K—

Showing 1–2 of 2 holdings

YBMN Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Performance data is unavailable.

Returns run to the last market 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.

Trailing total return for YBMN. Periods over one year show the average yearly return.
PeriodYBMN
Year to dateHistory unavailable—
1 monthHistory unavailable—
3 monthsHistory unavailable—
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsHistory unavailable—per year

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual return data is unavailable.

YBMN in the news

ETF.net Research hasn’t filed on YBMN yet — coverage lands here as it’s written.

YBMN Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months

Distribution data unavailable.

YBMN Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
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.

The largest fall from a peak to the low that followed.
—
No data available
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.

How strongly the fund’s returns move with its asset-class index.
0.63
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

YBMN Cost

Expense Ratio
0.85%