Skip to content
Beacon

XYZYYieldMax XYZ Option Income Strategy ETF

Get income2y track recordRanked #1,397 of 1,650 in this goal

Seeks current income.

By YieldMax ETFs · Launched 2023

Annual Cost

1.36%

#5,649 of 5,854 · expensive

Fund Size

$44M

#3,759 of 5,854 · mid-size

Dividend YieldGoal

16.59%

Track Record

2 years

#3,147 of 5,854 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$1,929-80.7%

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

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Strategy

Option income

What it actually holds

By weight

Concentration

single-stock bet — holdings shown are derivatives collateral, not diversification

TREASURY BILL
32.5%
TREASURY BILL
29.3%
TREASURY BILL
27.2%
N/A
6.9%
TREASURY BILL
6.4%
TREASURY BILL
2.9%
First American Government Obli
2.1%
N/A
0.0%
N/A
0.0%
N/A
-0.0%

Asset allocation

Cash
73.2%
Bonds
17.6%
Stocks
8.3%
Other
1.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
88.6%High

Year-on-year price swings

Max drawdown
-90.5%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.
Strategy
Actively manages a synthetic covered call and covered call spread strategy to seek current income while providing exposure to the share price returns of the Underlying Security. The Fund generates options premiums and aims to participate in a portion of potential investment gains.
Inception date
October 10, 2023
Fund family
YieldMax ETFs

Our take

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

Covered call
Critical

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.

Single stock
Warning

A fund-sized fee to own one company

This wraps a single stock, usually with an options overlay on top. You pay 0.50% to 1.00% a year for exposure you could hold directly, and any income comes from selling off your own upside. Owning the share itself costs less and keeps that upside intact.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023) · Israelov & Nielsen, 'Covered Calls Uncovered' (Financial Analysts Journal 2015)

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

What's next?

You've looked at XYZY. Save it to your watchlist to weigh it against other funds, then turn your shortlist into a portfolio.

See other funds for this goal

Data updated on 2026-08-03