Which is cheaper, TPAY or YMAG?

TPAY charges 0.49% a year and YMAG charges 1.34%, so TPAY is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

TPAY vs YMAG: Dividend Yield & Total Return

TPAY and YMAG both write options for income.

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Net assets: $2.1m on Nov 4, 2026 for Roundhill S&P 500 Target 10 Managed Distribution ETF, and $268m on Nov 3, 2026 for YieldMax Magnificent 7 Fund of Option Income ETFs.

TPAY on its own →YMAG on its own →

At a glance

6.6%

TPAY cash paid, since launch, Feb 18, 2026

33.4%

YMAG cash paid, 1 year

+11.6%

TPAY total return, since launch, Feb 18, 2026

+5.8%

YMAG total return, 1 year

TPAY · since launch to Nov 4, 2026 1 pt behind VOO

TPAY

+11.6%

VOO

+12.6%

1 pt behind VOO

TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

VOO

+12.6%

TPAY

+11.6%

6.6% of it arrived as cash

1 pt behind VOO

Total return, distributions reinvested

1 pt behind VOO

TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

VOO

+12.6%

TPAY

+11.6%

6.6% cash

1 pt behind VOO

6.6% of it arrived as cash. Total return, distributions reinvested. TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

YMAG · 1 year to Nov 4, 2026 1.2 pts ahead of its own holdings

YMAG

+5.8%

Own

+4.6%

1.2 pts ahead of its own holdings

YMAG over 1 year: paid 33.4%, price −29.4%, total +5.8%, its own holdings +4.6%, +1.2 pts. Data to Nov 4, 2026.

its own holdings

+4.6%

YMAG

+5.8%

33.4% of it arrived as cash

1.2 pts ahead of its own holdings

Total return, distributions reinvested

1.2 pts ahead of its own holdings

YMAG over 1 year: paid 33.4%, price −29.4%, total +5.8%, its own holdings +4.6%, +1.2 pts. Data to Nov 4, 2026.

its own holdings

+4.6%

YMAG

+5.8%

1.2 pts ahead of its own holdings

33.4% of it arrived as cash. Both charts share one scale, with zero at the line. YMAG over 1 year: paid 33.4%, price −29.4%, total +5.8%, its own holdings +4.6%, +1.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

TPAY costs 0.85 points a year less; YMAG is far larger, $268m against $2.1m.

Points (pts) are percentage points.

TPAY vs YMAG: Dividend Yield & Total Return
Measure	TPAY	YMAG
Paid and earned
Measure	TPAY	YMAG
Total return, 1 year	not published	+5.8%
Price change	rose 4.6% (since Feb 18, 2026)	fell 29.4% (1 year)
Return of capital, issuer estimate	100% of the Oct 15, 2026 payment	11% of the Nov 5, 2026 payment
Against its benchmark
Measure	TPAY	YMAG
Benchmark	Vanguard S&P 500 ETF, measured through VOO	its own holdings
Against its benchmark, same days	behind by 1.0 pts	ahead by 1.2 pts
Cost and size
Measure	TPAY	YMAG
Expense ratio	0.49%	1.34%
Net assets, as of Nov 3, 2026	$2.1m	$268m
Holdings
Measure	TPAY	YMAG
Holdings in common	0%

Method

What they share

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

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first TPAY YMAG

Only in one fund ↓

Only in TPAY

SPY 03/12/2027 33.67 C 44.68%

SPY 04/16/2027 33.18 C 44.62%

SPYM 03/12/2027 3.33 C 6.11%

Only in YMAG

YieldMax MSFT Option Income Strategy ETF 15.10%

YieldMax AAPL Option Income Strategy ETF 15.04%

YieldMax Amzn Option Income ETF 14.92%

YieldMax Tsla Option Income ETF 14.83%

YieldMax NVDA Option Income Strategy ETF 13.66%

YieldMax Meta Option Income Strategy ETF 13.26%

YieldMax GOOGL Option Income Strategy ETF 12.23%

Check overlap with more funds →

Side by side

TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF · Option income on VOO, paying monthly YMAG YieldMax Magnificent 7 Fund of Option Income ETFs · Synthetic covered call on its own holdings, paying weekly

Issuer Roundhill YieldMax

Strategy option income synthetic covered call

Benchmark Vanguard S&P 500 ETF (VOO) YMAG's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026)

Pays monthly weekly

Payout rate, annualized 9.5% 31.4%

Expense ratio 0.49% 1.34%

Cash paid, 1 year 6.6% (since launch, Feb 18, 2026) 33.4%

Price change, 1 year +4.6% (since launch, Feb 18, 2026) −29.4%

Total return, 1 year +11.6% (since launch, Feb 18, 2026) +5.8%

Benchmark return, 1 year +12.6% (since launch, Feb 18, 2026) +4.6%

Ahead or behind −1.0 pts (since launch, Feb 18, 2026) +1.2 pts

Return of capital, latest estimate 100% 11%

Age 259 days 2.8 years

Net assets, TPAY as of Nov 4, 2026 and YMAG as of Nov 3, 2026 $2.1m $268m

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: TPAY vs YMAG: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	TPAY	YMAG	TPAY	YMAG	TPAY	YMAG
3 months	−0.8%	+3.3%	2.3%	9.1%	−0.7 pts	+0.3 pts
6 months	+4.2%	+1.9%	4.7%	18.1%	−0.8 pts	−0.2 pts
1 year	–	+5.8%	–	33.4%	–	+1.2 pts
Since launchNot the same days: TPAY Feb 2026 · YMAG Jan 2024	+11.6%	+70.3%	6.6%	91.7%	−1.1 pts	not measured

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Alert

About each fund

TPAY

Over the period from its first trade on Feb 18, 2026 to Nov 4, 2026, TPAY paid 6.6% of its starting value in cash distributions while its price rose 4.6%. With every distribution reinvested, the fund returned +11.6%. Vanguard S&P 500 ETF (VOO) returned +12.6% over the same days, so a holder was behind by 1.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.5%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

YMAG

Over the year to Nov 4, 2026, YMAG paid 33.4% of its starting value in cash distributions while its price fell 29.4%. With every distribution reinvested, the fund returned +5.8%. YMAG's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026) returned +4.6% over the same days, so a holder was ahead by 1.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 31.4%, paid weekly. YieldMax estimates that 11% of the distribution paid Nov 5, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, TPAY or YMAG?: TPAY charges 0.49% a year and YMAG charges 1.34%, so TPAY is cheaper. Fees come from each fund's prospectus.

Other comparisons

TPAY vs ULTY TPAY vs YYY TPAY vs KYLD TPAY vs ODTE YMAG vs LAPR YMAG vs LJAN YMAG vs LJUL YMAG vs LOCT

Where to next

Vanguard S&P 500 ETF (VOO) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →TPAY on its own →YMAG on its own →TPAY dividend history →TPAY holdings →YMAG dividend history →YMAG holdings →Method →Standards and sources →

Sources and dates

TPAY filings on SEC EDGAR ↗

TPAY prospectus with the expense ratio (SEC) ↗

TPAY 19a-1 distribution notice ↗

Roundhill page for TPAY ↗

YMAG filings on SEC EDGAR ↗

YMAG prospectus with the expense ratio (SEC) ↗

YMAG 19a-1 distribution notice ↗

YieldMax page for YMAG ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, TPAY against YMAG, data as of Nov 4, 2026. https://etfiq.com/compare/income/tpay-vs-ymag

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.