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AIYYYieldMax AI Option Income Strategy ETF

Get income2y track recordRanked #1,212 of 1,622 in this goal

Seeks current income.

By YieldMax ETFs · Launched 2023

Annual Cost

0.99%

#4,898 of 5,562 · expensive

Fund Size

$30M

#4,047 of 5,562 · small

Dividend YieldGoal

156.78%

Track Record

2 years

#3,300 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$4,264-57.4%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

What it actually holds

By weight

Concentration

Top 10 holdings = 134.0% of fundconcentrated

TREASURY BILL
61.2%
TREASURY BILL
23.6%
TREASURY BILL
21.3%
TREASURY BILL
17.2%
TREASURY BILL
7.8%
First American Government Obli
2.3%
N/AAI 2 C15
0.5%
N/AAI 2 C13.5
0.1%
N/AAI 1 C13.5
0.0%
N/AAI 1 C13
-0.0%

Asset allocation

Cash
76.3%
Stocks
14.2%
Bonds
6.5%
Other
3.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
53.8%High

Year-on-year price swings

Max drawdown
-79.5%Severe

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks current income.
Strategy
Actively managed ETF that generates income through synthetic covered call strategies on the Underlying Security. Invests in options contracts to provide indirect exposure to the share price while aiming for options premiums and partial participation in gains.
Inception date
November 27, 2023
Fund family
YieldMax ETFs

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

Covered call ETF — yield ≠ total return

The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.

Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Why we flagged this: strategy=option_income + option_income_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19