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ULTYYieldMax Ultra Option Income Strategy ETF

Get income2y track recordRanked #883 of 1,650 in this goal

Seeks current income and exposure to the share price of select U.S. listed securities.

By YieldMax ETFs · Launched 2024

Annual Cost

1.30%

#5,565 of 5,861 · expensive

Fund Size

$896M

#1,193 of 5,861 · large

Dividend YieldGoal

36.36%

Track Record

2 years

#3,367 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$886-91.1%

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 = 50.2% of fundmoderately concentrated

Alphabet Inc
5.6%
Analog Devices Inc
5.5%
Amazon.com Inc
5.1%
Lam Research Corp
5.0%
Quanta Services Inc
4.9%
Ciena Corp
4.9%
Lumentum Holdings Inc
4.9%
NVIDIA Corp
4.8%
IREN Ltd
4.8%
Strategy Inc
4.6%

Asset allocation

Stocks
94.9%
Cash
4.5%
Other
0.6%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
92.6%High

Year-on-year price swings

Max drawdown
-92.4%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 and exposure to the share price of select U.S. listed securities.
Strategy
Actively manages a portfolio of U.S.-listed equity securities to seek current income and exposure to share price appreciation. Utilizes options strategies to generate premiums and may invest in lower-volatility large-cap equities for stability.
Inception date
February 28, 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 2026-08-04