Which paid more, KNG or ULTY?

Over the year to Nov 4, 2026, KNG paid 8.8% of its starting price in cash and ULTY paid 46.0%, so ULTY paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, KNG or ULTY?

With every distribution reinvested, KNG returned +20.8% and ULTY −12.4% over the year to Nov 4, 2026.

Which is cheaper, KNG or ULTY?

KNG charges 0.74% a year and ULTY charges 1.30%, so KNG is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

KNG vs ULTY: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, ULTY paid 46.0% of its price in cash against KNG’s 8.8%, though KNG returned more with it reinvested.

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Net assets on Nov 3, 2026: $3.4bn for FT Vest S&P 500 Dividend Aristocrats Target Income ETF and $576m for YieldMax Ultra Option Income Strategy ETF.

KNG on its own →ULTY on its own →

At a glance

8.8%

KNG cash paid, 1 year

46.0%

ULTY cash paid, 1 year

+20.8%

KNG total return, 1 year

−12.4%

ULTY total return, 1 year

KNG · 1 year to Nov 4, 2026 3.1 pts behind NOBL

KNG

+20.8%

NOBL

+23.9%

3.1 pts behind NOBL

KNG over 1 year: paid 8.8%, price +11.1%, total +20.8%, NOBL +23.9%, −3.1 pts. Data to Nov 4, 2026.

NOBL

+23.9%

KNG

+20.8%

8.8% as cash

3.1 pts behind NOBL

Total return, distributions reinvested

3.1 pts behind NOBL

KNG over 1 year: paid 8.8%, price +11.1%, total +20.8%, NOBL +23.9%, −3.1 pts. Data to Nov 4, 2026.

NOBL

+23.9%

KNG

+20.8%

3.1 pts behind NOBL

8.8% of it arrived as cash. Total return, distributions reinvested. KNG over 1 year: paid 8.8%, price +11.1%, total +20.8%, NOBL +23.9%, −3.1 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

ULTY · 1 year to Nov 4, 2026 4.4 pts ahead of its own holdings

ULTY

−12.4%

Own

−16.8%

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

KNG costs 0.56 points a year less; their one-year returns differ by 33.2 points; KNG is 5.9 times larger.

Points (pts) are percentage points.

KNG vs ULTY: Dividend Yield & Total Return
Measure	KNG	ULTY
Paid and earned
Measure	KNG	ULTY
Total return, 1 year	+20.8%	−12.4%
Price change, 1 year	rose 11.1%	fell 55.5%
Return of capital, issuer estimate	80% of the Oct 30, 2026 payment	100% of the Nov 5, 2026 payment
Against its benchmark
Measure	KNG	ULTY
Benchmark	S&P 500 Dividend Aristocrats, measured through NOBL	its own holdings
Cost and size
Measure	KNG	ULTY
Expense ratio	0.74%	1.30%
Net assets, as of Nov 3, 2026	$3.4bn	$576m
Holdings
Measure	KNG	ULTY
Holdings in common	0%

ETFIQ Distribution Coverage Score · KNG scores higher How much of what it paid out did its total return cover?

IQ Income Score91.3KNG12.9ULTY

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

KNG 91.3

ULTY 12.9

0.3, the lowest in this set 99.7, the highest

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 →

Method

Risk and return

Mar 8, 2024 to Oct 30, 2026 · 138 weekly returns

KNG ULTY

Return

Total return edge KNG +23.7% −3.8%

Annualized edge KNG +8.3% −1.4%

Price return edge KNG −1.5% −89.2%

Risk

Volatility edge KNG 11.1% 24.1%

Max drawdown edge KNG −11.0% −25.9%

Risk-adjusted

Sharpe edge KNG 0.39 −0.12

Sortino edge KNG 0.53 −0.15

Calmar edge KNG 0.76 −0.06

Reading

From Mar 2024 to Oct 2026, KNG returned more: +23.7% to −3.8%. KNG swung less: 11.1% to 24.1%. KNG fell less at its worst: −11.0% to −25.9%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: KNG vs ULTY: Dividend Yield & Total Return
Measure	KNG	ULTY	Edge	How it is measured
Return
Total return	+23.7%	−3.8%	KNG	Price change plus distributions, reinvested.
Annualized	+8.3%	−1.4%	KNG	Total return as a yearly rate.
Price return	−1.5%	−89.2%	KNG	Price change alone, distributions left out.
Risk
Volatility	11.1%	24.1%	KNG	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	8.1%	18.4%	KNG	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−11.0%	−25.9%	KNG	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.39	−0.12	KNG	Return above Treasury bills per unit of volatility.
Sortino	0.53	−0.15	KNG	Return above Treasury bills per unit of downside deviation.
Calmar	0.76	−0.06	KNG	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 138 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, KNG and ULTY hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first KNG ULTY

Only in one fund ↓

Only in KNG

Pentair plc 1.89%

Roper Technologies, Inc. 1.70%

Erie Indemnity Company 1.58%

The Clorox Company 1.58%

PPG Industries, Inc. 1.57%

Stanley Black & Decker, Inc. 1.57%

Abbott Laboratories 1.56%

General Dynamics Corporation 1.55%

Only in ULTY

Analog Devices Inc 5.67%

Alphabet Inc 5.03%

Alibaba Group Holding Ltd 4.83%

MercadoLibre Inc 4.75%

Shopify Inc 4.74%

Space Exploration Technologies Corp 4.68%

VanEck Gold Miners ETF 4.60%

Advanced Micro Devices Inc 4.02%

Check overlap with more funds →

Side by side

KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF · Dividend stocks with call overlay on NOBL, paying monthly ULTY YieldMax Ultra Option Income Strategy ETF · Synthetic covered call on its own holdings, paying weekly

Issuer First Trust YieldMax

Strategy dividend stocks with call overlay synthetic covered call

Benchmark S&P 500 Dividend Aristocrats (NOBL) ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026)

Pays monthly weekly

Payout rate, annualized 8.0% 60.9%

Expense ratio 0.74% 1.30%

Cash paid, 1 year 8.8% 46.0%

Price change, 1 year +11.1% −55.5%

Total return, 1 year +20.8% −12.4%

Benchmark return, 1 year +23.9% −16.8%

Ahead or behind −3.1 pts +4.4 pts

Return of capital, latest estimate 80% 100%

Age 8.6 years 2.7 years

Net assets, as of Nov 3, 2026 $3.4bn $576m

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

Window by window: KNG vs ULTY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	KNG	ULTY	KNG	ULTY	KNG	ULTY
3 months	+5.2%	−8.3%	2.0%	14.3%	−0.5 pts	+3.4 pts
6 months	+13.5%	−9.9%	4.3%	26.6%	−1.4 pts	+1.6 pts
1 year	+20.8%	−12.4%	8.8%	46.0%	−3.1 pts	+4.4 pts
3 years	+41.8%	–	26.9%	–	−6.7 pts	–
Since launchNot the same days: KNG Mar 2018 · ULTY Feb 2024	+120.8%	−1.9%	61.2%	87.9%	−19.0 pts	not measured

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About each fund

KNG

Over the year to Nov 4, 2026, KNG paid 8.8% of its starting value in cash distributions while its price rose 11.1%. With every distribution reinvested, the fund returned +20.8%. S&P 500 Dividend Aristocrats (NOBL) returned +23.9% over the same days, so a holder was behind by 3.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.0%, paid monthly. First Trust estimates that 80% of the distribution paid Oct 30, 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

Which paid more, KNG or ULTY?: Over the year to Nov 4, 2026, KNG paid 8.8% of its starting price in cash and ULTY paid 46.0%, so ULTY paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, KNG or ULTY?: With every distribution reinvested, KNG returned +20.8% and ULTY −12.4% over the year to Nov 4, 2026.
Which is cheaper, KNG or ULTY?: KNG charges 0.74% a year and ULTY charges 1.30%, so KNG is cheaper. Fees come from each fund's prospectus.

Other comparisons

KNG vs SIXH KNG vs YYY KNG vs YMAG KNG vs KYLD ULTY vs RDVI ULTY vs VAIE ULTY vs XIJN ULTY vs QVOL

Where to next

S&P 500 Dividend Aristocrats (NOBL) →KNG on its own →ULTY on its own →KNG dividend history →KNG holdings →ULTY dividend history →ULTY holdings →Method →Standards and sources →

Sources and dates

KNG filings on SEC EDGAR ↗

KNG prospectus with the expense ratio (SEC) ↗

KNG 19a-1 distribution notice ↗

First Trust page for KNG ↗

ULTY filings on SEC EDGAR ↗

ULTY prospectus with the expense ratio (SEC) ↗

ULTY 19a-1 distribution notice ↗

YieldMax page for ULTY ↗

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, KNG against ULTY, data as of Nov 4, 2026. https://etfiq.com/compare/income/kng-vs-ulty

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