# YMAX (YieldMax(R) Universe Fund of Option Income ETFs)

YieldMax · Income ETFs · data as of Sep 11, 2026

Over the year to Sep 11, 2026, YMAX paid 39.0% in cash and still finished 18.1 points behind SPY.

## Key facts

- YMAX, cash paid, 1 year, on its starting price: 39.0%, as of Sep 11, 2026.
- YMAX, total return, 1 year: −0.6%, as of Sep 11, 2026.
- YMAX, against SPY: −18.1 pts, as of Sep 11, 2026.
- YMAX, return of capital, latest payout (YieldMax estimate): 67.8%, as of Sep 11, 2026.
- YMAX, net assets: $375m (issuer page, as of Sep 11, 2026).
- YMAX, expense ratio: 1.33% (485BPOS XBRL, Feb 24, 2026).

## YMAX over each window to Sep 11, 2026

| Window | Cash paid | Price | Total return | SPY | Ahead or behind |
| --- | --- | --- | --- | --- | --- |
| 3 months | 10.8% | −5.4% | +5.6% | +3.3% | +2.3 pts |
| 6 months | 24.3% | −10.2% | +15.5% | +16.0% | −0.5 pts |
| 1 year | 39.0% | −41.0% | −0.6% | +17.5% | −18.1 pts |
| Since launch | 91.3% | −62.5% | +41.0% | +66.7% | −25.7 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Strategy | synthetic covered call | ETFIQ |
| Benchmark | S&P 500 (SPY), used as a default proxy (proxy) | ETFIQ |
| Pays | weekly | ETFIQ |
| Net assets | $375m | issuer page, as of Sep 11, 2026 |
| Latest payout, annualized | 41.6% | ETFIQ |
| Expense ratio | 1.33% | 485BPOS XBRL, Feb 24, 2026 |
| Cash paid, last 12 months, over today’s price | 66.2% | ETFIQ |
| Launched | Jan 17, 2024 | ETFIQ |
| Return of capital, latest distribution | 67.8% | YieldMax 19a-1 estimate |
| Pays | weekly | ETFIQ |
| Typical gap between ex-dates | 7 days | ETFIQ |
| Typical wait from ex-date to payment | 1 day | ETFIQ |
| Last paid, per share | $0.0598 ex Sep 9, 2026 | ETFIQ |
| Sum of the last 12 distributions | $0.7767 | ETFIQ |

## Questions

### How much has YMAX paid over the last year?

Over the year to Sep 11, 2026, YMAX paid 39.0% of its starting price in cash distributions, while the price fell 41.0%.

### Is YMAX ahead of SPY?

Over the year to Sep 11, 2026, with every distribution reinvested, YMAX returned −0.6% against +17.5% for S&P 500 (SPY), used as a default proxy, so a holder was behind it by 18.1 points.

### How often does YMAX pay, and how much?

YMAX pays weekly. The latest distribution annualizes to 41.6% at its price on Sep 11, 2026, which is not a promise; the next one can differ.

### Is the YMAX distribution return of capital?

YieldMax estimates 68% of the distribution paid Sep 10, 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 YMAX next pay a distribution?

YMAX pays weekly. The last distribution went ex on Sep 9, 2026 at $0.0598 a share. The issuer has set the next ex-date at Sep 16, 2026 but not the amount.

### What does YMAX cost?

The prospectus expense ratio is 1.33% a year.


## Cite this page

ETFIQ, YMAX, data as of Sep 11, 2026. https://etfiq.com/funds/ymax
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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