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GDXYYieldMax Gold Miners Option Income Strategy ETF

Get income2y track recordRanked #932 of 1,650 in this goal

Seeks current income while providing indirect exposure to the share price of the VanEck Gold Miners ETF (GDX).

By YieldMax ETFs · Launched 2024

Annual Cost

1.00%

#5,189 of 5,854 · expensive

Fund Size

$213M

#2,305 of 5,854 · mid-size

Dividend YieldGoal

81.99%

Track Record

2 years

#3,488 of 5,854 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,447+14.5%

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

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

What it actually holds

By weight

Concentration

Top 10 holdings = 103.7% of fundconcentrated

TREASURY BILL
25.3%
TREASURY BILL
23.1%
TREASURY BILL
20.3%
TREASURY BILL
16.2%
TREASURY BILL
11.6%
First American Government Obli
4.5%
N/A
2.6%
N/A
0.1%
N/A
0.0%
N/A
0.0%

Asset allocation

Cash
86.3%
Bonds
32.6%
Other
5.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
39.3%High

Year-on-year price swings

Max drawdown
-37.0%Severe

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks current income while providing indirect exposure to the share price of the VanEck Gold Miners ETF (GDX).
Strategy
Actively managed ETF that seeks current income through a synthetic covered call strategy and synthetic covered call spread strategy, providing indirect exposure to the share price returns of the VanEck Gold Miners ETF (GDX) in the gold mining industry.
Inception date
May 20, 2024
Fund family
YieldMax ETFs

Our take

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

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

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

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 2026-08-03