Which is cheaper, MAAY or MARO?

MAAY charges 1.07% a year and MARO charges 1.00%, so MARO is cheaper. Fees come from each fund's prospectus.

MAAY vs MARO: which paid, and which earned it?

MAAY and MARO both write options for income. GraniteShares YieldBOOST MARA ETF and YieldMax(R) MARA Option Income Strategy ETF.

46.0%

MAAY cash paid, since launch

42.8%

MARO cash paid, 1 year

−43.3%

MAAY total return, since launch

−46.3%

MARO total return, 1 year

MAAY · since launch to Sep 30, 202611.5 pts behind MARA

MAAY

−43.3%

MARA

−31.8%

11.5 pts behind MARA

MAAY since launch: paid 46.0%, price −80.0%, total −43.3%, MARA −31.8%, −11.5 pts.

MARA

−31.8%

MAAY

−43.3%

11.5 pts behind MARA

Total return, distributions reinvested

11.5 pts behind MARA

MAAY since launch: paid 46.0%, price −80.0%, total −43.3%, MARA −31.8%, −11.5 pts.

MARA

−31.8%

MAAY

−43.3%

11.5 pts behind MARA

46.0% of it arrived as cash. Total return, distributions reinvested. MAAY since launch: paid 46.0%, price −80.0%, total −43.3%, MARA −31.8%, −11.5 pts.

MARO · 1 year to Sep 30, 20268.4 pts behind MARA

MARO

−46.3%

MARA

−38.0%

8.4 pts behind MARA

MARO over 1 year: paid 42.8%, price −79.3%, total −46.3%, MARA −38.0%, −8.4 pts.

MARA

−38.0%

MARO

−46.3%

8.4 pts behind MARA

Total return, distributions reinvested

8.4 pts behind MARA

MARO over 1 year: paid 42.8%, price −79.3%, total −46.3%, MARA −38.0%, −8.4 pts.

MARA

−38.0%

MARO

−46.3%

8.4 pts behind MARA

42.8% of it arrived as cash. Both charts share one scale, 0 to −31.8%. MARO over 1 year: paid 42.8%, price −79.3%, total −46.3%, MARA −38.0%, −8.4 pts.

What they hold in common

By the books each fund has filed, MAAY and MARO hold 0% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Oct 1, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding MAAY MARO

Only in MAAY

Treasury Bill 100.00%

Only in MARO

United States Treasury Bill 02/18/2027 29.49%

United States Treasury Bill 12/10/2026 25.37%

United States Treasury Bill 07/08/2027 15.14%

United States Treasury Note/Bond 2.375% 05/15/2027 14.61%

United States Treasury Bill 10/15/2026 8.76%

First American Government Obligations Fund 12/01/2031 8.45%

MARA 10/16/2026 11.51 C 5.11%

MARA 11/20/2026 12.01 C 0.58%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

Performance, window by window

	Total return		Cash paid		Against the benchmark
Window	MAAY	MARO	MAAY	MARO	MAAY	MARO
3 months	−6.5%	−20.3%	20.2%	16.0%	+8.8 pts	−5.0 pts
6 months	+2.0%	+14.6%	40.0%	46.7%	−38.9 pts	−26.3 pts
1 year	not published	−46.3%	not published	42.8%	not published	−8.4 pts
Since launch MAAY Nov 2025 · MARO Dec 2024	−43.3%	−58.5%	46.0%	53.1%	−11.5 pts	−8.1 pts

MAAY and MARO over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

MAAY

GraniteShares YieldBOOST MARA ETF · Synthetic covered call on MARA, paying weekly

MARO

YieldMax(R) MARA Option Income Strategy ETF · Synthetic covered call on MARA, paying weekly

Issuer GraniteShares YieldMax

Strategy synthetic covered call synthetic covered call

Benchmark MARA (MARA) MARA (MARA)

Pays weekly weekly

Payout rate, annualized 97.3% 106.7%

Expense ratio 1.07% 1.00%

Cash paid, 1 year 46.0% (since launch on Nov 4, 2025) 42.8%

Price change, 1 year −80.0% −79.3%

Total return, 1 year −43.3% (since launch on Nov 4, 2025) −46.3%

Benchmark return, 1 year −31.8% −38.0%

Ahead or behind −11.5 pts −8.4 pts

Return of capital, latest estimate 98% 0%

Age 330 days 659 days

Net assets $5m $55m

MAAY and MARO on the same fields, as of Sep 30, 2026. Source: ETFIQ.

MAAY in plain words

Over the period since launch on Nov 4, 2025 to Sep 30, 2026, MAAY paid 46.0% of its starting value in cash distributions while its price fell 80.0%. With every distribution reinvested, the fund returned −43.3%. MARA (MARA) returned −31.8% over the same days, so a holder was behind by 11.5 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 97.3%, paid weekly. GraniteShares estimates that 98% of the distribution paid Sep 1, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).

MARO in plain words

Over the year to Sep 30, 2026, MARO paid 42.8% of its starting value in cash distributions while its price fell 79.3%. With every distribution reinvested, the fund returned −46.3%. MARA (MARA) returned −38.0% over the same days, so a holder was behind by 8.4 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 106.7%, paid weekly. YieldMax estimates that 0% of the distribution paid Oct 2, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).

Questions people ask

Which is cheaper, MAAY or MARO?: MAAY charges 1.07% a year and MARO charges 1.00%, so MARO is cheaper. Fees come from each fund's prospectus.

Other comparisons

MAAY vs MRA MARO vs MRA

MAAY on its own →MARO on its own →How every figure is computed →Standards and sources →

Where these figures came from

MAAY filings on SEC EDGAR ↗MAAY prospectus with the expense ratio (SEC) ↗MAAY 19a-1 distribution notice ↗GraniteShares page for MAAY ↗MARO filings on SEC EDGAR ↗MARO prospectus with the expense ratio (SEC) ↗MARO 19a-1 distribution notice ↗YieldMax page for MARO ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, MAAY against MARO, data as of Sep 30, 2026. https://etfiq.com/compare/income/maay-vs-maro

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.