YieldMax Universe Fund of Option Income ETFs

YMAX

Market cap $753M

WPAY offers weekly payments, with a more balanced risk profile than its competitor YMAX. You will learn the 3 key differences between these ETFs that drove my decision to favor WPAY. WPAY's use of weekly option resets allows for better trend capture and NAV protection compared to YMAX's capped upside issues.

The YieldMax Universe Fund of Option Income ETFs offers a massive 70%+ yield, but faces significant capital erosion. YMAX's aggressive covered call strategy caps upside potential while exposing investors to risky, volatile underlying assets and uncapped downside risk. Despite high yields, YMAX has a history of dividend cuts and has underperformed the S&P 500 and better-constructed covered call ETFs like QQQI on total return.

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YieldMax Universe Fund of Option Income ETF and Roundhill WeeklyPay Universe ETF both target high income but use distinct strategies. YMAX employs covered call options on a diverse, growth-oriented portfolio, offering robust upside and defensive qualities in flat or correcting markets. WPAY uses 120% weekly leverage on 15 single-stock ETFs, making it more sensitive to market cycles and potentially riskier in downturns than YMAX.

YieldMax Universe Fund of Option Income ETFs has gained popularity for high income and downside risk mitigation via diverse holdings and put overlays. YMAX's NAV erosion concerns have been addressed since April 2025, with stable NAV and consistent distributions supporting its income-generating appeal. I am neutral on YMAX for now, awaiting confirmation of a rebound above $12 before considering a buy, due to portfolio weighting strategy.

CHICAGO and MILWAUKEE and NEW YORK, Oct. 14, 2025 (GLOBE NEWSWIRE) -- YieldMax® ETFs today announced distributions for the YieldMax® Group 1 weekly pay ETFs listed in the table below. Group 1 Distribution Announcement Ex.

NEW YORK, Oct. 08, 2025 (GLOBE NEWSWIRE) -- YieldMax® ETFs today announced a significant enhancement to its distribution framework, moving all single stock option income ETFs to a weekly distribution schedule. This shift reflects investor demand for more frequent income opportunities and represents the natural evolution of the YieldMax® product line.

YieldMax's extensive suite of exchange traded funds (ETFs) have a large and dedicated following, and there are a number of reasons for this.

YieldMax Universe Fund of Option Income ETFs announced its lowest-ever weekly distribution, reflecting a shift in strategy and ongoing NAV erosion. YMAX's new approach aims to slow NAV decline by participating more in rallies, but this results in lower distributions and potentially higher costs. YMAX's price has stabilized since April, but this is likely due to broader market rallies rather than just strategy changes.

The YieldMax Universe Fund of Option Income ETFs receives a Sell rating, while the YieldMax Ultra Option Income Strategy ETF is rated Buy. YMAX has outperformed ULTY since ULTY's inception, but its strategy lacks a compelling theme and offers limited diversification, mostly skewed toward tech and crypto. ULTY's dynamic, manager-driven option strategies and use of collars provide more consistent high yields and risk management, making it preferable for income investors.