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
724.6 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) | $722 |
| 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 TSLA OPTION INCOME ETF | 3.8 % |
| YIELDMAX MSTR OPTION INCOME STRATEGY ETF | 3.7 % |
| YIELDMAXTM PLTR OPTION INCOME STRATEGY ETF | 3.6 % |
| YIELDMAX TSM OPTION INCOME STRATEGY ETF | 3.6 % |
| YIELDMAX SNOW OPTION INCOME STRATEGY ETF | 3.6 % |
| YIELDMAX META OPTION INCOME STRATEGY ETF | 3.6 % |
| YIELDMAX CVNA OPTION INCOME STRATEGY ETF | 3.6 % |
| YIELDMAX AI OPTION INCOME STRATEGY ETF | 3.6 % |
| YIELDMAX MSFT OPTION INCOME STRATEGY ETF | 3.5 % |
| YIELDMAX AMZN OPTION INCOME ETF | 3.5 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -21.9% | -33.5% | -- | -- | -- | -- | -- | -27.3% |
| Dividend Yield | 13.8% | 40.2% | -- | -- | -- | -- | -- | 39.6% |
| Total Returns | -8.1% | 6.7% | -- | -- | -- | -- | -- | 12.3% | Ann. Volatility | 36.3% | 25.7% | -- | -- | -- | -- | -- | 24.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.31 | 78% |
| MSCI EAFE | 0.43 | 9% |
| MSCI Emg Mkts | 0.50 | 6% |
Liquidity Measures
| Avg. volume (000) | 1,351 |
| ADV traded (mns) | $18 |
| Turnover | 2.5% |
| Avg. Bid/Ask (% of price) | 0.08% |
Technical Indicators
| Recent close | $13.35 |
| 30d moving avg. | $12.86 |
| Annualized volatility | 17.9% |
| Relative strength (RSI) | 50 |
| Short interest | 2.4% |
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 | 7.5 | 135.5 |
| Peer Avg. | 90.6 | 32.0 | 122.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .