Data as of . Every figure is the income desk's own, on published data.
MSFO vs YMAX
What they hold in common
By the books each fund has filed, MSFO and YMAX hold 0% of their money in the same securities at the same weight.
| Only in MSFO | Only in YMAX |
|---|---|
| TREASURY BILL 32.44% | YieldMax AMD Option Income Strategy ETF 6.95% |
| TREASURY BILL 31.42% | Yieldmax Amzn Option Income ETF 5.36% |
| TREASURY BILL 14.95% | Yieldmax Tsm Option Income Strategy ETF 5.01% |
| TREASURY BILL 12.47% | YieldMax Crypto Industry & Tec 4.99% |
| TREASURY BILL 8.72% | YieldMax GOOGL Option Income S 4.88% |
| YieldMax MARA Option Income Strategy ETF 4.80% | |
| YieldMax AI & Tech Portfolio Option Inco 4.72% | |
| YieldMax Semiconductor Portfolio Option 4.66% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings as filed for Apr 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| MSFO | YMAX | MSFO | YMAX | MSFO | YMAX | |
| 3 months | +16.0% | +7.1% | 11.2% | 10.9% | −4.2 pts | +2.4 pts |
| 6 months | +18.9% | +18.0% | 20.6% | 24.4% | −3.8 pts | +2.8 pts |
| 1 year | +0.3% | +3.5% | 27.9% | 40.0% | +1.1 pts | −16.5 pts |
| 3 years | +51.3% | n/a | 78.8% | n/a | −2.1 pts | n/a |
| Since launch | +55.5% | +44.0% | 81.0% | 91.0% | −2.8 pts | −24.0 pts |
| MSFO YieldMax(R) MSFT Option Income Strategy ETF | YMAX YieldMax(R) Universe Fund of Option Income ETFs | |
|---|---|---|
| Issuer | YieldMax | YieldMax |
| Strategy | synthetic covered call | synthetic covered call |
| Benchmark | Microsoft (MSFT) | S&P 500 (SPY), used as a default proxy |
| Pays | weekly | weekly |
| Payout rate, annualised | 41.2% | 40.6% |
| Expense ratio | 1.03% | 1.33% |
| Cash paid, 1 year | 27.9% | 40.0% |
| Price change, 1 year | −30.3% | −38.7% |
| Total return, 1 year | +0.3% | +3.5% |
| Benchmark return, 1 year | −0.8% | +20.0% |
| Ahead or behind | +1.1 pts | −16.5 pts |
| Return of capital, latest estimate | 95% | 43% |
| Age | 1106 days | 961 days |
MSFO in plain words
Over the year to Sep 4, 2026, MSFO paid 27.9% of its starting value in cash distributions while its price fell 30.3%. With every distribution reinvested, the fund returned +0.3%. Microsoft (MSFT) returned −0.8% over the same days, so a holder was ahead by 1.1 pts. At its price on Sep 4, 2026 the latest distribution annualises to 41.2%, paid weekly. YieldMax estimates that 95% of the distribution paid Sep 4, 2026 was a return of capital (19a-1 notice, estimated, a tax characterisation rather than a measure of erosion).
YMAX in plain words
Over the year to Sep 4, 2026, YMAX paid 40.0% of its starting value in cash distributions while its price fell 38.7%. With every distribution reinvested, the fund returned +3.5%. S&P 500 (SPY), used as a default proxy returned +20.0% over the same days, so a holder was behind by 16.5 pts. At its price on Sep 4, 2026 the latest distribution annualises to 40.6%, paid weekly. YieldMax estimates that 43% of the distribution paid Sep 3, 2026 was a return of capital (19a-1 notice, estimated, a tax characterisation rather than a measure of erosion).
Questions people ask
- Which paid more, MSFO or YMAX?
- Over the year to Sep 4, 2026, MSFO paid 27.9% of its starting price in cash and YMAX paid 40.0%, so YMAX paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, MSFO or YMAX?
- With every distribution reinvested, MSFO returned +0.3% and YMAX returned +3.5% over the year to Sep 4, 2026, so YMAX returned more.
- Which is cheaper, MSFO or YMAX?
- MSFO charges 1.03% a year and YMAX charges 1.33%, so MSFO is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, MSFO against YMAX, data as of Sep 4, 2026. https://etfiq.com/compare/income/MSFO-YMAX.html Free to use with attribution; the underlying files are at Open data.