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YBITYieldMax Bitcoin Option Income Strategy ETF

Get income2y track recordRanked #1,277 of 1,622 in this goal

Seeks current income with exposure to select exchange-traded products linked to Bitcoin.

By YieldMax ETFs · Launched 2024

Annual Cost

1.02%

#5,020 of 5,562 · expensive

Fund Size

$54M

#3,500 of 5,562 · mid-size

Dividend YieldGoal

90.89%

Track Record

2 years

#3,537 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$6,409-35.9%

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 = 113.0% of fundconcentrated

TREASURY BILL
34.9%
TREASURY BILL
21.4%
TREASURY BILL
17.0%
TREASURY BILL
16.5%
TREASURY BILL
14.7%
TREASURY BILL
4.5%
First American Government Obli
1.9%
N/AIBIT 3 C55
1.7%
N/AIBIT 2 C50
0.3%
N/AIBIT 2 C49.5
0.2%

Asset allocation

Bonds
40.1%
Cash
32.6%
Stocks
17.3%
Other
10.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
36.6%High

Year-on-year price swings

Max drawdown
-47.3%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 with exposure to select exchange-traded products linked to Bitcoin.
Strategy
Employs a synthetic covered call strategy to generate options premiums while providing indirect exposure to the price returns of U.S.-listed Bitcoin-related ETPs. The strategy aims to enhance income during periods of higher volatility in the underlying ETPs.
Inception date
April 22, 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

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 2026-06-20