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YBITYieldMax Bitcoin Option Income Strategy ETF

Get income2y track recordRanked #1,353 of 1,650 in this goal

Seeks current income while providing indirect exposure to the share price of select exchange-traded products linked to Bitcoin.

By YieldMax ETFs · Launched 2024

Annual Cost

1.02%

#5,270 of 5,861 · expensive

Fund Size

$35M

#4,008 of 5,861 · small

Dividend YieldGoal

32.16%

Track Record

2 years

#3,449 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$1,157-88.4%

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 = 89.8% of fundconcentrated

TREASURY BILL
28.3%
TREASURY BILL
24.8%
TREASURY BILL
23.9%
N/A
8.7%
First American Government Obli
5.6%
N/A
0.6%
N/A
0.0%
N/A
-0.0%
N/A
-0.9%
N/A
-1.1%

Asset allocation

Cash
56.0%
Bonds
33.1%
Other
15.8%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
87.8%High

Year-on-year price swings

Max drawdown
-89.5%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 while providing indirect exposure to the share price of select exchange-traded products linked to Bitcoin.
Strategy
Actively managed ETF that employs a synthetic covered call strategy to generate current income through options premiums while providing indirect exposure to U.S.-listed exchange-traded products linked to Bitcoin. The strategy captures a portion of potential gains from the Underlying ETPs, focusing on volatility to enhance options premiums.
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

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