YBIT
YieldMax Bitcoin Option Income Strategy ETF
YBIT uses a synthetic covered call strategy based on futures contracts against Bitcoin. The strategy aims to provide income in which gains are capped and losses are not.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
138.7 M
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | YieldMax |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Apr 22, 2024 |
| Assets (mns) | $139 |
| Expense ratio | 99 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| IBIT US 09/19/25 C35 | 49.0 % |
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 14.0 % |
| UNITED STATES TREASURY BILL 07/09/2026 | 12.3 % |
| UNITED STATES TREASURY BILL 11/06/2025 | 7.9 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 7.6 % |
| UNITED STATES TREASURY BILL 02/19/2026 | 7.5 % |
| UNITED STATES TREASURY BILL 08/06/2026 | 3.2 % |
| IBIT US 09/19/25 C70 | 0.2 % |
| ISHARES CLL OPT 09/25 68.500 | 0.2 % |
| CASH & OTHER | 0.2 % |
Historical Performance
Standardized Performance (as of 08/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -21.8% | -29.9% | -- | -- | -- | -- | -- | -42.6% |
| Dividend Yield | 31.3% | 64.2% | -- | -- | -- | -- | -- | 49.5% |
| Total Returns | 9.5% | 34.2% | -- | -- | -- | -- | -- | 6.9% | Ann. Volatility | 33.7% | 36.9% | -- | -- | -- | -- | -- | 38.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 298 |
| ADV traded (mns) | $3 |
| Turnover | 2.2% |
| Avg. Bid/Ask (% of price) | 0.10% |
Technical Indicators
| Recent close | $10.05 |
| 30d moving avg. | $9.88 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 55 |
| Short interest | 1.9% |
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 |
| YBIT (99 bp) Percentile rank | 59 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| YBIT | 99.0 | 9.8 | 108.8 |
| Peer Avg. | 96.5 | 31.1 | 127.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .