Data as of Oct 28, 2026.
ISPY vs ULTY: Dividend Yield & Total Return
Over the year to Oct 28, 2026, ULTY paid 44.3% of its price in cash against ISPY’s 5.7%, though ISPY returned more with it reinvested.
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Net assets: $1.2bn on Oct 28, 2026 for ProShares S&P 500 High Income ETF, and $627m on Oct 27, 2026 for YieldMax Ultra Option Income Strategy ETF.
3.5 pts behind SPY
ISPY over 1 year: paid 5.7%, price +4.0%, total +10.1%, SPY +13.6%, −3.5 pts. Data to Oct 28, 2026.
SPY
+13.6%
ISPY
+10.1%
5.7% as cash
3.5 pts behind SPY
Total return, distributions reinvested
3.5 pts behind SPY
ISPY over 1 year: paid 5.7%, price +4.0%, total +10.1%, SPY +13.6%, −3.5 pts. Data to Oct 28, 2026.
SPY
+13.6%
ISPY
+10.1%
3.5 pts behind SPY
5.7% of it arrived as cash. Total return, distributions reinvested. ISPY over 1 year: paid 5.7%, price +4.0%, total +10.1%, SPY +13.6%, −3.5 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.4.1 pts ahead of its own holdings
ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
its own holdings
−15.3%
ULTY
−11.2%
4.1 pts ahead of its own holdings
Total return, distributions reinvested
4.1 pts ahead of its own holdings
ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
its own holdings
−15.3%
ULTY
−11.2%
44.3% of it arrived as cash. Both charts share one scale, with zero at the line. ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.Pair scorecard
ISPY costs 0.75 points a year less; their one-year returns differ by 21.3 points; ISPY is 1.9 times larger.
Points (pts) are percentage points.
| Measure | ISPY | ULTY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +10.1% | −11.2% |
| Price change, 1 year | rose 4.0% | fell 55.2% |
| Return of capital, issuer estimate | 81% of the Oct 7, 2026 payment | 100% of the Oct 29, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | its own holdings |
| Cost and size | ||
| Expense ratio | 0.55% | 1.30% |
| Net assets, as of Oct 27, 2026 | $1.2bn | $627m |
| Holdings | ||
| Holdings in common | 11% | |
How much of its payouts the fund's total return covered, ranked against 164 income ETFs not writing on a single company. 100 is best. How it is computed
A percentile among the 164 income ETFs not writing on a single company. One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →
Holdings in common uses holdings dated Aug 31, 2026 and Oct 28, 2026. Method
Risk and return
Mar 8, 2024 to Oct 23, 2026 · 137 weekly returnsISPY returned more: +42.5% to −0.3%. ISPY swung less: 13.2% to 24.1%. ISPY fell less at its worst: −15.6% to −25.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ISPY | ULTY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +42.5% | −0.3% | ISPY | Price change plus distributions, reinvested. |
| Annualized | +14.4% | −0.1% | ISPY | Total return as a yearly rate. |
| Price return | +13.9% | −88.7% | ISPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 13.2% | 24.1% | ISPY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.1% | 18.4% | ISPY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −15.6% | −25.9% | ISPY | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.76 | −0.06 | ISPY | Return above Treasury bills per unit of volatility. |
| Sortino | 1.10 | −0.08 | ISPY | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.92 | 0.00 | ISPY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 137 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ISPY and ULTY hold 11% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Oct 28, 2026.
half
11% in common
Only in one fund ↓
Side by side
As of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | ISPY | ULTY | ISPY | ULTY | ISPY | ULTY |
| 3 months | +4.8% | +4.2% | 1.6% | 15.4% | −1.4 pts | −9.8 pts |
| 6 months | +7.3% | +1.0% | 3.3% | 28.1% | −1.7 pts | −6.6 pts |
| 1 year | +10.1% | −11.2% | 5.7% | 44.3% | −3.5 pts | +4.1 pts |
| Since launchNot the same days: ISPY Dec 2023 · ULTY Feb 2024 | +54.8% | +4.4% | 26.5% | 87.8% | −15.5 pts | not measured |
ISPY and ULTY are built for the same job. How do they differ in cost, holdings and results?
- Income paid. ISPY paid 5.7% and ULTY 44.3% (cash paid over 1 year, as a share of its price at the start), a gap of 38.6 points.
- What each is measured against. ISPY is measured against S&P 500 through SPY and ULTY against its own holdings.
- Holdings in common. 11% of the weight is in the same securities (holdings dated Aug 31, 2026 and Oct 28, 2026).
Data as of Oct 28, 2026.
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ISPY
Over the year to Oct 28, 2026, ISPY paid 5.7% of its starting value in cash distributions while its price rose 4.0%. With every distribution reinvested, the fund returned +10.1%. S&P 500 (SPY) returned +13.6% over the same days, so a holder was behind by 3.5 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 6.3%, paid monthly. ProShares estimates that 81% of the distribution paid Oct 7, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
ULTY
Over the year to Oct 28, 2026, ULTY paid 44.3% of its starting value in cash distributions while its price fell 55.2%. With every distribution reinvested, the fund returned −11.2%. ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 26, 2026) returned −15.3% over the same days, so a holder was ahead by 4.1 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 60.7%, paid weekly. YieldMax estimates that 100% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, ISPY against ULTY, data as of Oct 28, 2026. https://etfiq.com/compare/income/ispy-vs-ulty
ETFIQ. (Oct 28, 2026). ISPY against ULTY. Retrieved from https://etfiq.com/compare/income/ispy-vs-ulty
[ISPY against ULTY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/income/ispy-vs-ulty)
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