YieldMax Universe Fund of Option Income ETFs
$7.80−0.13 (−1.64%)
History starts Jan 17, 2024.
- Expense ratio
- 1.33%
- Fund size
- $388M
- 1Y return
- +2.1%
- Yield · Last 12 months
- 60.64%
- Holdings
- 38
- Volume · 30D
- 1.5M sh
- NAV per share
- $7.86
- 52W range
The ETF.net YMAX Grade
Score 30 of 100 sits in the D 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.FScore 6Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.FScore 22Category 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.CScore 43Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 85Category rank
Our read on YMAX
DThe whole YieldMax lineup in one ticker: roughly 40 option income ETFs bundled together, paying weekly. Income comes first here, and upside is capped by design inside every underlying fund.
YMAX is an actively managed fund of funds seeking current income. It primarily invests in affiliated YieldMax ETFs whose options strategies generate premiums while seeking long or short exposure to various reference assets, with partial participation in gains.
Why people hold it
- One ticker spreads across about 40 affiliated YieldMax option income funds, so no single reference stock's covered call outcome runs the whole show.
- Distributions land weekly, a cadence very few income ETFs run, and the issuer publishes each declaration ahead of the ex-date.yieldmaxetfs.com
- The mechanism is spelled out plainly: underlying funds write calls against synthetic long exposure built with options, using Treasuries as collateral.yieldmaxetfs.com
- Live since January 2024 and actively traded, so it has a real operating record rather than a backtest.
Worth knowing
- Total cost runs 1.33%, above the option income peer median and several times cheaper premium-income rivals like PAPI (0.29%) or DIVO (0.56%). Fund-of-funds fees stack.
- Capped gains are the trade for the premium: when a reference stock rips, the underlying funds only partly participate.
- YieldMax discloses that payouts can include return of capital, meaning part of a distribution may be your own money coming back rather than income earned.yieldmaxetfs.com
YMAX Holdings
- Stocks
- 38
- 60%
- MRNY
Sectors
Geography
YMAX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
YMAX$10,211
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 | YMAX |
|---|---|
| Year to date | +11.9% |
| 1 month | +6.7% |
| 3 months | +9.5% |
| 1 year | +2.1% |
| 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 | YMAX |
|---|---|---|
| 2026 YTD | +11.9% | |
| 2025 | +5.1% | |
| 2024 | +26.3% |
YMAX in the news
YMAX Dividends
- 60.64%
- $4.81
- $0.06 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 23, 2026 | Pays Sep 24, 2026 | $0.06 |
| Sep 16, 2026 | Sep 17, 2026 | $0.06 |
| Sep 9, 2026 | Sep 10, 2026 | $0.06 |
| Sep 2, 2026 | Sep 3, 2026 | $0.06 |
| Aug 26, 2026 | Aug 27, 2026 | $0.06 |
| Aug 19, 2026 | Aug 20, 2026 | $0.06 |
| Aug 12, 2026 | Aug 13, 2026 | $0.06 |
| Aug 5, 2026 | Aug 6, 2026 | $0.06 |
| Jul 29, 2026 | Jul 30, 2026 | $0.06 |
| Jul 22, 2026 | Jul 23, 2026 | $0.07 |
| Jul 15, 2026 | Jul 16, 2026 | $0.07 |
| Jul 8, 2026 | Jul 9, 2026 | $0.07 |
YMAX Risk
- 20.2%
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.
- 0.49
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.
- −26.2%
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.
- 1.31
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
YMAX Cost
1.33%
YMAX1.33%
- The middle half of Active Option Income funds
- Median 0.95%
43 of the 47 Active Option Income funds charge less.