Category Review
The largest option-income fund beat the S&P 500 by selling calls on a quarter of its assets
YieldMax Universe Fund of Option Income ETFs
$6.68−0.12 (−1.76%)
- 1.33%
- $317M
- −3.0%
- 61.02%
- 1.2M sh
- low $6.46high $11.56
The ETF.net YMAX Grade
D
Score 29 out of 100
- 41 of 51
Score 29 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.F2 out of 100Rank 50 of 51Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F21 out of 100Rank 39 of 49Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B61 out of 100Rank 17 of 51Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C50 out of 100Rank 24 of 43Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A83 out of 100Rank 8 of 51
Our read on YMAX
In short
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.
Stated mandate
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
Worth knowing
YMAX 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.
YMAX$9,697
Returns run to the Nov 9, 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 | +1.1% |
| 1 month | −7.9% |
| 3 months | −2.2% |
| 1 year | −3.0% |
| 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 | +1.1% | |
| 2025 | +5.1% | |
| 2024 | +26.3% |
YMAX in the news
YMAX Dividends
- 61.02%
- $4.15
- $0.05 per share
- Weekly
YMAX Risk
- 20.1%
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.
- 0.39
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.
- 1.30
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
YMAX Cost
Overpaying vs RECI, cheapest in Active Option Income
$17,668
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
YMAX 1.33%
$23,817
RECI 0.30% Cheapest
$6,149
Cost over time
Year by year
| Year | YMAX | RECI | Overpaying |
|---|---|---|---|
| 10 | $2,313 | $545 | $1,768 |
| 20 | $8,564 | $2,113 | $6,451 |
| 30 | $23,817 | $6,149 | $17,668 |
Other funds in Active Option Income
- DULTYYieldMax Ultra Option Income Strategy ETFExpense ratio 1.30%1 year return −10.1%
- DKYLDKurv High Income ETFExpense ratio 1.08%1 year return −4.6%
- DWZRDOpportunistic Trader ETFExpense ratio 1.00%1 year return −100.0%
- DMINYYieldMax Strategic Metals & Mining Portfolio Option Income ETFExpense ratio 1.01%1 year return
- FKEOKurv Equity Option Income ETFExpense ratio 1.19%1 year return
