YMAX
YieldMax Universe Fund of Option Income ETFs
YMAX is an actively managed fund-of-funds that invests in shares of other YieldMax ETFs. The underlying ETFs seek to provide current income and capped gains on select securities through a synthetic covered call strategy.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
709.0 M
ASSETS UNDER MGMT
128 bp
EXPENSES
Fund Basics
| Fund sponsor | YieldMax |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Jan 17, 2024 |
| Assets (mns) | $710 |
| Expense ratio | 128 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | Yes |
Top Holdings
| YIELDMAX GOLD MINERS OPTION INCOME STRATEGY E | 4.1 % |
| YIELDMAX NFLX OPTION INCOME STRATEGY ETF | 3.8 % |
| YIELDMAX BITCOIN OPTION INCOME STRATEGY ETF | 3.8 % |
| YIELDMAX CVNA OPTION INCOME STRATEGY ETF | 3.8 % |
| YIELDMAX MSFT OPTION INCOME STRATEGY ETF | 3.7 % |
| YIELDMAX MSTR OPTION INCOME STRATEGY ETF | 3.7 % |
| YIELDMAX JPM OPTION INCOME STRATEGY ETF | 3.6 % |
| YIELDMAX GOOGL OPTION INCOME STRATEGY ETF | 3.5 % |
| YIELDMAX AAPL OPTION INCOME STRATEGY ETF | 3.5 % |
| YIELDMAX XOM OPTION INCOME STRATEGY ETF | 3.5 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -12.0% | -30.8% | -- | -- | -- | -- | -- | -22.7% |
| Dividend Yield | -2.0% | 18.9% | -- | -- | -- | -- | -- | 22.2% |
| Total Returns | -14.0% | -11.9% | -- | -- | -- | -- | -- | -0.5% | Ann. Volatility | 26.1% | 20.4% | -- | -- | -- | -- | -- | 20.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.34 | 80% |
| MSCI EAFE | 0.48 | 10% |
| MSCI Emg Mkts | 0.51 | 6% |
Liquidity Measures
| Avg. volume (000) | 1,387 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.07% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $13.21 |
| 30d moving avg. | $12.93 |
| Annualized volatility | 18.5% |
| Relative strength (RSI) | 44 |
| Short interest (ETF) | 3.8% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| YMAX (128 bp) Percentile rank | 96 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| YMAX | 128.0 | 7.2 | 135.2 |
| Peer Avg. | 90.6 | 32.4 | 123.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .