Get the weekly note
ETFIQetfiq.com · independent ETF data

FBY YieldMax(R) META Option Income Strategy ETF

Synthetic covered call on META, paying weekly

Over the year to Sep 18, 2026, FBY paid 28.0% in cash and still finished 2.7 points behind META.

YieldMax · Income ETFs · data as of

Key facts

28.0%Cash paid, 1 year, on its starting price
−17.1%Total return, 1 year
−2.7 ptsAgainst META
95.0%Return of capital, latest payout (YieldMax estimate)

Method

ETFIQ Return Stability Score

57.0joint 23rd of 64

FBY paid 28.0% in cash. Its price fell 44.9%, so 100% of what you were paid came back out of your own capital.

Was the payout funded by returns, or by your own capital?

Against its benchmark
AMYY −218.2 ptsMRNY −148.8 ptsAMDY −76.2 ptsDIPS −43.1 ptsNVYY −20.9 ptsXOMO −19.9 ptsTQQY −19.6 ptsAZYY −19.3 ptsAPLY −17.0 ptsCOYY −16.3 ptsGOOP −14.1 ptsMARO −13.2 ptsMSTW −12.2 ptsHOOW −11.0 ptsCOIW −10.7 ptsTSMY −10.3 ptsPLTW −9.3 ptsGMEY −8.7 ptsTSLW −8.3 ptsGOOY −8.0 ptsNFLW −7.9 ptsAMZP −7.3 ptsMETW −7.1 ptsAAPY −7.0 ptsTSYY −6.8 ptsMSFW −6.5 ptsMSFY −6.4 ptsXYZY −6.4 ptsHCOW −6.3 ptsYSPY −6.3 ptsAVGW −5.6 ptsNFLP −5.1 ptsAMZW −4.0 ptsSMCY −3.9 ptsAMZY −3.8 ptsSNOY −3.8 ptsBRKW −3.7 ptsHOOY −3.4 ptsAIYY −3.3 ptsTSLP −3.2 ptsNVDW −1.4 ptsBRKC −1.3 ptsPYPY −1.2 ptsDRAY −0.7 ptsNVDY −0.2 ptsRBLY +0.9 ptsTSII +1.1 ptsGOOW +1.4 ptsMSFO +2.1 ptsNVII +2.5 ptsAAPW +2.6 ptsBABO +4.2 ptsNFLY +4.4 ptsPLTY +4.6 ptsCONY +5.1 ptsMSTY +5.3 ptsRDYY +5.5 ptsCVNY +7.2 ptsTSLY +7.5 ptsCRSH +23.2 ptsAMDW +58.4 ptsFIAT +60.8 ptsWNTR +78.8 ptsFBY −2.7 ptsFBY −2.7 pts−218.2 pts+78.8 pts

63.3% of the 64 sit at or below FBY on this measure.

What happened to the principal
COYY −87.2%MSTW −85.9%RBLY −81.9%MSTY −79.7%COIW −77.9%MARO −77.0%AIYY −73.3%DRAY −73.2%RDYY −72.9%CONY −70.2%TSYY −70.1%SMCY −66.5%NFLW −65.0%BABO −57.9%HOOW −57.4%NFLY −57.3%HOOY −56.4%CVNY −54.5%NFLP −54.5%TSLW −54.2%GMEY −52.7%PYPY −52.7%NVYY −52.3%TSII −51.4%XYZY −51.4%WNTR −51.3%PLTW −50.7%TSLY −49.5%DIPS −47.3%METW −46.9%FIAT −45.5%PLTY −45.2%AMYY −44.7%AZYY −42.9%AVGW −42.1%CRSH −39.8%TQQY −35.4%TSLP −34.5%MSFW −33.1%AMZY −32.0%MSFO −29.9%AMZW −27.6%MSFY −25.4%YSPY −25.0%SNOY −24.8%NVDW −22.8%NVDY −22.3%NVII −21.1%BRKW −16.9%GOOY −16.6%BRKC −15.6%AMZP −14.6%APLY −11.3%XOMO −10.0%TSMY −8.1%GOOW −3.7%HCOW −0.3%AAPW +7.9%GOOP +8.5%AAPY +19.2%AMDY +28.6%MRNY +93.6%AMDW +110.0%FBY −44.9%FBY −44.9%−87.2%+110.0%

50.8% of the 64 sit at or below FBY on this measure.

Weighted evenly, those two positions are what the score combines, across the 64 income ETFs writing on a single company. Neither spread above is the score: a fund can sit further right on one and score lower. A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

What the score is computed from
What it measuresThis fundIts percentileWeight
against its benchmark−2.7 pts63.350%
what happened to the principal−44.9%50.850%

All income ETFs ranked by this score · How it is computed

What a holder got

FBY against METAFBY returned −17.1% with distributions reinvested against −14.4% for (META), a gap of −2.7 pts. Of that, 28.0% arrived as cash rather than price.−17.1%FBY total return−14.4%(META)

Over the year to Sep 18, 2026, FBY returned −17.1% with distributions reinvested and (META) returned −14.4%, so a holder came out behind it by 2.7 points. The lighter segment is the 28.0% that arrived as cash rather than as price.

Method

Period by period

FBY over each window to Sep 18, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnMETAAhead or behind
3 months10.0%−2.2%+8.5%+15.3%−6.9 pts
6 months18.7%−15.5%+4.1%+12.2%−8.2 pts
1 year28.0%−44.9%−17.1%−14.4%−2.7 pts
3 years110.8%−54.0%+68.1%+120.1%−52.0 pts
Since launch107.0%−56.1%+62.6%+106.3%−43.7 pts

Method

When FBY pays

FBY pays weekly. The last distribution was $0.0711 a share, which went ex on Sep 17, 2026, with payment about 1 day later. The issuer has set the next ex-date at Sep 24, 2026, payable Sep 25, 2026, but has not declared the amount.

Expected distributions for FBY. Where the basis is a projection, ETFIQ has carried the fund’s own spacing forward from its last ex-date and held the amount at the last one paid; neither is an issuer statement. Source: ETFIQ.
Ex-datePay dateAmountBasis
Sep 24, 2026Sep 25, 2026$0.0711Issuer date, amount not declared
Oct 1, 2026Oct 2, 2026$0.0711Issuer date, amount not declared
Oct 8, 2026Oct 9, 2026$0.0711Issuer date, amount not declared
Oct 15, 2026Oct 16, 2026$0.0711Issuer date, amount not declared
Oct 22, 2026Oct 23, 2026$0.0711Issuer date, amount not declared
Oct 29, 2026Oct 30, 2026$0.0711Issuer date, amount not declared
Every distribution ETFIQ holds for FBY (13, most recent first)
Cash distributions per share for FBY. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Sep 17, 2026$0.0711
Sep 10, 2026$0.0593
Sep 3, 2026$0.0493
Aug 27, 2026$0.0484
Aug 20, 2026$0.0466
Aug 13, 2026$0.0659
Aug 6, 2026$0.0785
Jul 30, 2026$0.0881
Jul 23, 2026$0.1043
Jul 16, 2026$0.1382
Jul 9, 2026$0.0665
Jul 2, 2026$0.0593
Jun 25, 2026$0.0534

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Jul 28, 2023, FBY has returned +62.6% with distributions reinvested, against +106.3% for (META), and has paid out 107.0% of its starting value in cash along the way. It pays weekly, and at its current price the latest distribution annualizes to 40.9%. YieldMax estimates that 95% of the distribution paid Sep 18, 2026 was a return of capital. That is the issuer’s own Rule 19a-1 estimate and a tax characterization, made before the fund year closes: it says the payment included money the fund gave back rather than earned, not that the fund is eroding.

FBY (YieldMax(R) META Option Income Strategy ETF), income ETFs fields as of Sep 18, 2026. Source: ETFIQ.
Strategysynthetic covered call
Benchmark(META)
Paysweekly
Net assets (issuer page, as of Sep 18, 2026)$115m
Latest payout, annualized (ETFIQ)40.9%
Expense ratio (485BPOS XBRL, Feb 24, 2026)1.06%
Cash paid, last 12 months, over today’s price (ETFIQ)50.8%
LaunchedJul 28, 2023
Return of capital, latest distribution (YieldMax 19a-1 estimate)95.0%
Paysweekly
Typical gap between ex-dates7 days
Typical wait from ex-date to payment1 day
Last paid, per share$0.0711 ex Sep 17, 2026
Sum of the last 12 distributions$0.8755

Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed

Questions people ask

How much has FBY paid over the last year?
Over the year to Sep 18, 2026, FBY paid 28.0% of its starting price in cash distributions, while the price fell 44.9%.
Is FBY ahead of META?
Over the year to Sep 18, 2026, with every distribution reinvested, FBY returned −17.1% against −14.4% for (META), so a holder was behind it by 2.7 points.
How often does FBY pay, and how much?
FBY pays weekly. The latest distribution annualizes to 40.9% at its price on Sep 18, 2026, which is not a promise; the next one can differ.
Is the FBY distribution return of capital?
YieldMax estimates 95% of the distribution paid Sep 18, 2026 was return of capital. That is a tax characterization from the fund's own 19a-1 notice, not a measure of erosion.
When does FBY next pay a distribution?
FBY pays weekly. The last distribution went ex on Sep 17, 2026 at $0.0711 a share. The issuer has set the next ex-date at Sep 24, 2026 but not the amount.
What does FBY cost?
The prospectus expense ratio is 1.06% a year.

The words on this page

Total return
What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.

Every term used here, defined in full on the income ETFs vocabulary page.

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.

Compare FBY

Funds near this one

Put this on your own page

The payout bar for FBY, redrawn every trading night. Free to use with the credit link.

FBY payout bar, ETFIQ

Copy the embed code
<a href="https://etfiq.com/funds/fby"><img src="https://etfiq.com/embed/income/fby.svg" alt="FBY payout bar, ETFIQ" width="640"></a>
<p><a href="https://etfiq.com/funds/fby">FBY payout bar, updated daily by ETFIQ</a></p>

Where FBY is written about

FBY, Income ETFs, ETFIQ, data as of Sep 18, 2026. Every figure is calculated from a named public source; the method is at etfiq.com/methodology. ETFIQ is an independent publisher, is not a fund issuer, broker-dealer or investment adviser, and makes no recommendations.
Use this data, or open the live card

Open FBY live on ETFIQ, where the figures refresh with the data.

Cite this page. ETFIQ, FBY, income ETFs, data as of Sep 18, 2026. https://etfiq.com/funds/fby Free to use with attribution; the underlying files are at Open data.

How these figures are computed · Standards and sources