Data as of Nov 4, 2026.
IVVW vs ULTY: Dividend Yield & Total Return
Over the year to Nov 4, 2026, ULTY paid 46.0% of its price in cash against IVVW’s 17.5%, though IVVW returned more with it reinvested.
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Net assets: $349m on Nov 4, 2026 for iShares IVV Premium Income+ ETF, and $576m on Nov 3, 2026 for YieldMax Ultra Option Income Strategy ETF.
About even with SPY
IVVW over 1 year: paid 17.5%, price −4.1%, total +14.8%, SPY +14.8%, 0.0 pts. Data to Nov 4, 2026.
SPY
+14.8%
IVVW
+14.8%
17.5% of it arrived as cash
about even with SPY
Total return, distributions reinvested
About even with SPY
IVVW over 1 year: paid 17.5%, price −4.1%, total +14.8%, SPY +14.8%, 0.0 pts. Data to Nov 4, 2026.
SPY
+14.8%
IVVW
+14.8%
about even with SPY
17.5% of it arrived as cash. Total return, distributions reinvested. IVVW over 1 year: paid 17.5%, price −4.1%, total +14.8%, SPY +14.8%, 0.0 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.4.4 pts ahead of its own holdings
ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
its own holdings
−16.8%
ULTY
−12.4%
4.4 pts ahead of its own holdings
Total return, distributions reinvested
4.4 pts ahead of its own holdings
ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
its own holdings
−16.8%
ULTY
−12.4%
46.0% of it arrived as cash. Both charts share one scale, with zero at the line. ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
IVVW costs 1.05 points a year less; their one-year returns differ by 27.2 points; ULTY is 1.7 times larger.
Points (pts) are percentage points.
| Measure | IVVW | ULTY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +14.8% | −12.4% |
| Price change, 1 year | fell 4.1% | fell 55.5% |
| Return of capital, issuer estimate | 49% of the Oct 7, 2026 payment | 100% of the Nov 5, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | its own holdings |
| Cost and size | ||
| Expense ratio | 0.25% | 1.30% |
| Net assets, as of Nov 3, 2026 | $344m | $576m |
| Holdings | ||
| Holdings in common | 0% | |
How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed
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 →
Risk and return
Mar 22, 2024 to Oct 30, 2026 · 136 weekly returnsFrom Mar 2024 to Oct 2026, IVVW returned more: +37.2% to +1.4%. IVVW swung less: 10.0% to 24.2%. IVVW fell less at its worst: −15.0% to −25.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | IVVW | ULTY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +37.2% | +1.4% | IVVW | Price change plus distributions, reinvested. |
| Annualized | +12.9% | +0.5% | IVVW | Total return as a yearly rate. |
| Price return | −11.7% | −87.9% | IVVW | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 10.0% | 24.2% | IVVW | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 7.1% | 18.4% | IVVW | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −15.0% | −25.9% | IVVW | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.83 | −0.03 | IVVW | Return above Treasury bills per unit of volatility. |
| Sortino | 1.16 | −0.04 | IVVW | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.86 | 0.02 | IVVW | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 136 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IVVW and ULTY hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 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 | IVVW | ULTY | IVVW | ULTY | IVVW | ULTY |
| 3 months | +2.0% | −8.3% | 3.9% | 14.3% | +2.2 pts | +3.4 pts |
| 6 months | +8.0% | −9.9% | 7.8% | 26.6% | +3.0 pts | +1.6 pts |
| 1 year | +14.8% | −12.4% | 17.5% | 46.0% | 0.0 pts | +4.4 pts |
| Since launchNot the same days: IVVW Mar 2024 · ULTY Feb 2024 | +40.5% | −1.9% | 42.6% | 87.9% | −14.4 pts | not measured |
Client brief:
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IVVW
Over the year to Nov 4, 2026, IVVW paid 17.5% of its starting value in cash distributions while its price fell 4.1%. With every distribution reinvested, the fund returned +14.8%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was about even. At its price on Nov 4, 2026 the latest distribution annualizes to 15.7%, paid monthly. iShares estimates that 49% 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 Nov 4, 2026, ULTY paid 46.0% of its starting value in cash distributions while its price fell 55.5%. With every distribution reinvested, the fund returned −12.4%. ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026) returned −16.8% over the same days, so a holder was ahead by 4.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 60.9%, paid weekly. YieldMax estimates that 100% of the distribution paid Nov 5, 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, IVVW against ULTY, data as of Nov 4, 2026. https://etfiq.com/compare/income/ivvw-vs-ulty
ETFIQ. (Nov 4, 2026). IVVW against ULTY. Retrieved from https://etfiq.com/compare/income/ivvw-vs-ulty
[IVVW against ULTY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/ivvw-vs-ulty)
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