Data as of Oct 28, 2026.
ULTY vs YMAX: Dividend Yield & Total Return
Over the year to Oct 28, 2026, ULTY paid 44.3% of its price in cash against YMAX’s 36.1%, though YMAX returned more with it reinvested.
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Net assets on Oct 27, 2026: $627m for YieldMax Ultra Option Income Strategy ETF and $352m for YieldMax Universe Fund of Option Income ETFs.
4.1 pts ahead of its own holdings
ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
its own holdings
−15.3%
ULTY
−11.2%
4.1 pts ahead of its own holdings
Total return, distributions reinvested
4.1 pts ahead of its own holdings
ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
its own holdings
−15.3%
ULTY
−11.2%
44.3% of it arrived as cash. Total return, distributions reinvested. ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.14.9 pts behind its own holdings
YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.
its own holdings
+10.9%
YMAX
−4.0%
14.9 pts behind its own holdings
Total return, distributions reinvested
14.9 pts behind its own holdings
YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.
its own holdings
+10.9%
YMAX
−4.0%
14.9 pts behind its own holdings
36.1% of it arrived as cash. Both charts share one scale, with zero at the line. YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.Pair scorecard
ULTY costs 0.03 points a year less; their one-year returns differ by 7.2 points; ULTY is 1.8 times larger.
Points (pts) are percentage points.
| Measure | ULTY | YMAX |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | −11.2% | −4.0% |
| Price change, 1 year | fell 55.2% | fell 42.4% |
| Return of capital, issuer estimate | 100% of the Oct 29, 2026 payment | 35% of the Oct 29, 2026 payment |
| Against its benchmark | ||
| Benchmark | its own holdings | its own holdings |
| Cost and size | ||
| Expense ratio | 1.30% | 1.33% |
| Net assets, as of Oct 27, 2026 | $627m | $352m |
| Holdings | ||
| Holdings in common | 0% | |
How much of its payouts the fund's total return covered, ranked against 164 income ETFs not writing on a single company. 100 is best. How it is computed
A percentile among the 164 income ETFs not writing on a single company. 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 →
Holdings in common uses holdings dated Oct 28, 2026. Method
Risk and return
Mar 8, 2024 to Oct 23, 2026 · 137 weekly returnsYMAX returned more: +26.7% to −0.3%. YMAX swung slightly less: 22.1% to 24.1%. YMAX fell slightly less at its worst: −24.1% to −25.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ULTY | YMAX | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | −0.3% | +26.7% | YMAX | Price change plus distributions, reinvested. |
| Annualized | −0.1% | +9.4% | YMAX | Total return as a yearly rate. |
| Price return | −88.7% | −67.0% | YMAX | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 24.1% | 22.1% | YMAX (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 18.4% | 15.4% | YMAX | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −25.9% | −24.1% | YMAX (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.06 | 0.32 | YMAX | Return above Treasury bills per unit of volatility. |
| Sortino | −0.08 | 0.46 | YMAX | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.00 | 0.39 | YMAX | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 137 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ULTY and YMAX hold 0% of their money in the same securities at the same weight. Holdings dated Oct 28, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Oct 28, 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 | ULTY | YMAX | ULTY | YMAX | ULTY | YMAX |
| 3 months | +4.2% | +10.0% | 15.4% | 10.6% | −9.8 pts | −18.4 pts |
| 6 months | +1.0% | +10.4% | 28.1% | 22.3% | −6.6 pts | −15.1 pts |
| 1 year | −11.2% | −4.0% | 44.3% | 36.1% | +4.1 pts | −14.9 pts |
| Since launchNot the same days: ULTY Feb 2024 · YMAX Jan 2024 | +4.4% | +43.9% | 87.8% | 93.4% | not measured | not measured |
ULTY and YMAX are built for the same job. How do they differ in cost, holdings and results?
- Income paid. ULTY paid 44.3% and YMAX 36.1% (cash paid over 1 year, as a share of its price at the start), a gap of 8.2 points.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 28, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 ULTY returned −11.2% and YMAX −4.0% with distributions reinvested, a gap of 7.2 points.
Data as of Oct 28, 2026.
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ULTY
Over the year to Oct 28, 2026, ULTY paid 44.3% of its starting value in cash distributions while its price fell 55.2%. With every distribution reinvested, the fund returned −11.2%. ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 26, 2026) returned −15.3% over the same days, so a holder was ahead by 4.1 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 60.7%, paid weekly. YieldMax estimates that 100% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
YMAX
Over the year to Oct 28, 2026, YMAX paid 36.1% of its starting value in cash distributions while its price fell 42.4%. With every distribution reinvested, the fund returned −4.0%. YMAX's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 26, 2026) returned +10.9% over the same days, so a holder was behind by 14.9 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 39.9%, paid weekly. YieldMax estimates that 35% of the distribution paid Oct 29, 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.
Cite this pageCitation, APA and Markdown
ETFIQ, ULTY against YMAX, data as of Oct 28, 2026. https://etfiq.com/compare/income/ulty-vs-ymax
ETFIQ. (Oct 28, 2026). ULTY against YMAX. Retrieved from https://etfiq.com/compare/income/ulty-vs-ymax
[ULTY against YMAX (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/income/ulty-vs-ymax)
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