Data as of .
ULTY vs YMAX: which paid, and which earned it?
Over the year ULTY paid 46.9% of its price in cash against YMAX’s 39.0%, though YMAX returned more with it reinvested.
ETFIQ Return Stability Score: YMAX scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 161 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, ULTY and YMAX hold 0% of their money in the same securities at the same weight.
| Only in ULTY | Only in YMAX |
|---|---|
| Alphabet Inc 5.66% | YieldMax AMD Option Income Strategy ETF 6.95% |
| Analog Devices Inc 5.47% | Yieldmax Amzn Option Income ETF 5.36% |
| Amazon.com Inc 5.16% | Yieldmax Tsm Option Income Strategy ETF 5.01% |
| Lam Research Corp 4.99% | YieldMax Crypto Industry & Tec 4.99% |
| Ciena Corp 4.95% | YieldMax GOOGL Option Income S 4.88% |
| Quanta Services Inc 4.95% | YieldMax MARA Option Income Strategy ETF 4.80% |
| Lumentum Holdings Inc 4.86% | YieldMax AI & Tech Portfolio Option Inco 4.72% |
| NVIDIA Corp 4.80% | YieldMax Semiconductor Portfolio Option 4.66% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| ULTY | YMAX | ULTY | YMAX | ULTY | YMAX | |
| 3 months | −0.3% | +5.6% | 14.2% | 10.8% | −3.6 pts | +2.3 pts |
| 6 months | +11.2% | +15.5% | 29.8% | 24.3% | −4.8 pts | −0.5 pts |
| 1 year | −5.8% | −0.6% | 46.9% | 39.0% | −23.3 pts | −18.1 pts |
| Since launch | +9.0% | +41.0% | 86.7% | 91.3% | −45.9 pts | −25.7 pts |
| ULTY YieldMax(R) Ultra Option Income Strategy ETF Synthetic covered call on SPY, paying weekly | YMAX YieldMax(R) Universe Fund of Option Income ETFs Synthetic covered call on SPY, paying weekly | |
|---|---|---|
| Issuer | YieldMax | YieldMax |
| Strategy | synthetic covered call | synthetic covered call |
| Benchmark | S&P 500 (SPY), used as a default proxy | S&P 500 (SPY), used as a default proxy |
| Pays | weekly | weekly |
| Payout rate, annualized | 61.5% | 41.6% |
| Expense ratio | 1.30% | 1.33% |
| Cash paid, 1 year | 46.9% | 39.0% |
| Price change, 1 year | −53.3% | −41.0% |
| Total return, 1 year | −5.8% | −0.6% |
| Benchmark return, 1 year | +17.5% | +17.5% |
| Ahead or behind | −23.3 pts | −18.1 pts |
| Return of capital, latest estimate | 100% | 68% |
| Age | 925 days | 968 days |
ULTY in plain words
Over the year to Sep 11, 2026, ULTY paid 46.9% of its starting value in cash distributions while its price fell 53.3%. With every distribution reinvested, the fund returned −5.8%. S&P 500 (SPY), used as a default proxy returned +17.5% over the same days, so a holder was behind by 23.3 pts. At its price on Sep 11, 2026 the latest distribution annualizes to 61.5%, paid weekly. YieldMax estimates that 100% of the distribution paid Sep 10, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
YMAX in plain words
Over the year to Sep 11, 2026, YMAX paid 39.0% of its starting value in cash distributions while its price fell 41.0%. With every distribution reinvested, the fund returned −0.6%. S&P 500 (SPY), used as a default proxy returned +17.5% over the same days, so a holder was behind by 18.1 pts. At its price on Sep 11, 2026 the latest distribution annualizes to 41.6%, paid weekly. YieldMax estimates that 68% of the distribution paid Sep 10, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which paid more, ULTY or YMAX?
- Over the year to Sep 11, 2026, ULTY paid 46.9% of its starting price in cash and YMAX paid 39.0%, 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, ULTY or YMAX?
- With every distribution reinvested, ULTY returned −5.8% and YMAX returned −0.6% over the year to Sep 11, 2026, so YMAX returned more.
- Which is cheaper, ULTY or YMAX?
- ULTY charges 1.30% a year and YMAX charges 1.33%, so ULTY is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, ULTY against YMAX, data as of Sep 11, 2026. https://etfiq.com/compare/income/ulty-vs-ymax Free to use with attribution; the underlying files are at Open data.