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YMAX

YieldMax Universe Fund of Option Income ETFs

The YieldMax® Universe Fund of Option Income ETF (YMAX) is an actively managed “fund of funds” designed to generate current income by investing across the YieldMax® ecosystem within a single vehicle. YMAX’s portfolio draws from the entire universe of YieldMax® ETFs, including Single Stock Option Income ETFs, Portfolio ETFs, and Ultra ETFs, with allocations driven by a positive momentum methodology that emphasizes strategies demonstrating stronger relative performance trends. Rather than maintaining static equal-weight exposure across the lineup, YMAX dynamically adjusts allocations with the goal of emphasizing funds that are better positioned for prevailing market conditions. This evolving framework is designed to improve long-term performance, enhance diversification, and provide greater adaptability across a wide range of market environments.

 

40.48%

Distribution Rate*

75.64%

30-Day SEC Yield**

As of: 09/08/2026

YMAX is a “fund of funds,” meaning that it will primarily invest its assets in certain YieldMax® ETFs. The Fund’s portfolio of Underlying YieldMax® ETFs is generally rebalanced monthly, though from time to time it may be rebalanced on a more frequent basis, and may be adjusted to include eligible new Underlying YieldMax® ETFs.

Investing in the fund involves a high degree of risk. Due to the Underlying YieldMax® ETFs’ investment strategies, the Fund’s participation in any gains associated with changes in the value of an Underlying Reference Asset is partial. However, the Fund is subject to all potential losses if the value of the Underlying Reference Asset decreases (if long exposure) or increases (if short exposure), which may not be offset by distributions or option premiums received by the Fund.

NONE OF THE FUND, THE TRUST, OR TIDAL INVESTMENTS LLC (THE “ADVISER”) IS AFFILIATED, CONNECTED, OR ASSOCIATED WITH ANY UNDERLYING ISSUER. 

 

* The most recent distribution on 09/08/2026 contains 67.80% estimated return of capital and 32.20% income. The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing the Fund’s most recent distribution and dividing the resulting amount by the Fund’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions are not guaranteed.

** The 30-Day SEC Yield represents net investment income, which excludes option income, earned by the Fund over the 30-Day period ended at the most recent month-end, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-Day period.

The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, from the Fund. In particular, future distributions from the Fund may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution from the Fund. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

Previous distributions have included a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.
Please refer to the 19a-1 notices at here for additional details regarding the distributions’ composition, once available.

Performance

Inception Date: 1/16/2024
As of: 8/31/2026

Fund Ticker1 Month3 Month6 MonthYTD1 Year3 Year5 Year10 YearSince Inception Cumulative (01/16/2024)Since Inception Annualized (01/16/2024)
MKT6.81%-2.30%13.44%4.96%0.80%———40.07%13.70%
NAV7.42%-1.80%13.87%5.33%1.11%———40.77%13.91%
S&P 500 TR2.72%1.68%12.37%13.14%20.38%———66.78%21.52%

Inception Date: 1/16/2024
As of 6/30/2026

Fund Ticker1 Month3 Month6 MonthYTD1 Year3 Year5 Year10 YearSince Inception Cumulative (01/16/2024)Since Inception Annualized (01/16/2024)
MKT-4.06%18.65%3.06%3.06%0.71%———37.54%13.87%
NAV-4.07%18.53%2.89%2.89%0.59%———37.51%13.86%
S&P 500 TR-0.95%15.20%10.21%10.21%22.32%———62.46%21.86%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (866) 864-3968.

Short term performance, in particular, is not a good indication of the Fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized. A Fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded. The fund intends to pay out dividends and interest income, if any, weekly. There is no guarantee these distributions will be made.

Why choose this fund?

1

Weekly Income Potential
The fund is designed to provide investors with the potential opportunity for consistent weekly income by investing in YieldMax option income ETFs.

 

2

Diversified Exposure
YMAX offers access to a broad mix of YieldMax ETFs, each tied to leading companies and ETFs, all in a single investment.

 

3

Simplified Access
Investors can participate in the YieldMax strategies across multiple stocks and ETFs without the need to manage individual positions.

 

Fund Details

Fund Inception:
1/16/2024
Ticker:
YMAX
Primary Exchange:
NYSE Arca
CUSIP:
88636J659
Gross Expense Ratio:
1.33%
Management Fee:
0.29%
30-Day SEC Yield:*
75.64%

As of 8/31/2026

*The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.

Net Assets:
$375.11M
NAV:
$7.52
Shares Outstanding:
49,850,000
Premium/Discount Percentage
-0.73%
Closing Price:
$7.47
Median 30-Day Spread*:
0.13%

As of 09/11/2026

*30-Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Distributions

For YieldMax ETFs Distribution Schedules, click here.

DISTRIBUTION PER SHAREDECLARED DATEEX DATERECORD DATEPAYABLE DATEROC
$0.059809/08/202609/09/202609/09/202609/10/202667.80%
$0.060109/01/202609/02/202609/02/202609/03/202643.35%
$0.059008/25/202608/26/202608/26/202608/27/202642.84%
$0.059908/18/202608/19/202608/19/202608/20/202648.95%
$0.060808/11/202608/12/202608/12/202608/13/202645.69%
$0.058808/04/202608/05/202608/05/202608/06/202620.01%
$0.057407/28/202607/29/202607/29/202607/30/202643.73%
$0.069107/21/202607/22/202607/22/202607/23/202622.98%
$0.072607/14/202607/15/202607/15/202607/16/202626.85%
$0.070907/07/202607/08/202607/08/202607/09/202624.52%
$0.072706/30/202607/01/202607/01/202607/02/202652.83%
$0.075606/23/202606/24/202606/24/202606/25/202640.67%
$0.076606/16/202606/17/202606/17/202606/18/202645.35%
$0.079506/09/202606/10/202606/10/202606/11/202670.05%
$0.093106/02/202606/03/202606/03/202606/04/202672.76%
$0.090205/26/202605/27/202605/27/202605/28/202649.62%
$0.090505/19/202605/20/202605/20/202605/21/202649.72%
$0.093005/12/202605/13/202605/13/202605/14/202638.04%
$0.082405/05/202605/06/202605/06/202605/07/202660.91%
$0.099704/28/202604/29/202604/29/202604/30/202692.09%
$0.099804/21/202604/22/202604/22/202604/23/202678.41%
$0.092104/14/202604/15/202604/15/202604/16/202642.95%
$0.090104/07/202604/08/202604/08/202604/09/202620.14%
$0.087503/31/202604/01/202604/01/202604/02/202625.68%
$0.033603/24/202603/25/202603/25/202603/26/20260.00%
$0.082403/17/202603/18/202603/18/202603/19/202649.80%
$0.082703/10/202603/11/202603/11/202603/12/202692.77%
$0.080503/03/202603/04/202603/04/202603/05/202660.98%
$0.071902/24/202602/25/202602/25/202602/26/202661.93%
$0.077802/17/202602/18/202602/18/202602/19/202658.54%
$0.074302/10/202602/11/202602/11/202602/12/202659.48%
$0.082102/03/202602/04/202602/04/202602/05/202654.42%
$0.083001/27/202601/28/202601/28/202601/29/202664.35%
$0.082401/20/202601/21/202601/21/202601/22/202661.09%
$0.081601/13/202601/14/202601/14/202601/15/202641.70%
$0.088001/06/202601/07/202601/07/202601/08/202650.79%
$0.106012/30/202512/31/202512/31/202501/02/202659.11%
$0.094412/23/202512/24/202512/24/202512/26/202551.13%
$0.123512/16/202512/17/202512/17/202512/18/202577.30%
$0.114212/09/202512/10/202512/10/202512/11/202581.25%
$0.096412/02/202512/03/202512/04/202512/04/202535.40%
$0.101211/25/202511/26/202511/26/202511/28/202550.80%
$0.130111/18/202511/19/202511/19/202511/20/202519.10%
$0.150611/11/202511/12/202511/12/202511/13/202595.71%
$0.174311/04/202511/05/202511/05/202511/06/202563.57%
$0.193910/28/202510/29/202510/29/202510/30/202560.79%
$0.157310/21/202510/22/202510/22/202510/23/202523.51%
$0.174310/14/202510/15/202510/15/202510/16/202560.55%
$0.147010/08/202510/09/202510/09/202510/10/202537.40%
$0.139910/01/202510/02/202510/02/202510/03/202513.99%
$0.082109/24/202509/25/202509/25/202509/26/202548.73%
$0.128909/17/202509/18/202509/18/202509/19/202562.67%
$0.132109/10/202509/11/202509/11/202509/12/202568.84%
$0.109409/03/202509/04/202509/04/202509/05/202542.00%
$0.137208/27/202508/28/202508/28/202508/29/202566.75%
$0.162208/20/202508/21/202508/21/202508/22/202572.37%
$0.110208/13/202508/14/202508/14/202508/15/202517.63%
$0.145308/06/202508/07/202508/07/202508/08/202555.86%
$0.164607/30/202507/31/202507/31/202508/01/20250.00%
$0.183807/23/202507/24/202507/24/202507/25/20256.23%
$0.104107/16/202507/17/202507/17/202507/18/202576.75%
$0.134707/09/202507/10/202507/10/202507/11/202595.41%
$0.157407/02/202507/03/202507/03/202507/07/202596.10%
$0.154806/25/202506/26/202506/26/202506/27/202594.96%
$0.142406/18/202506/20/202506/20/202506/23/202592.18%
$0.180306/11/202506/12/202506/12/202506/13/202596.28%
$0.172106/04/202506/05/202506/05/202506/06/202592.64%
$0.214905/28/202505/29/202505/29/202505/30/202581.23%
$0.186005/21/202505/22/202505/22/202505/23/202595.22%
$0.191005/14/202505/15/202505/15/202505/16/202596.24%
$0.167905/07/202505/08/202505/08/202505/09/202589.73%
$0.174404/30/202505/01/202505/01/202505/02/202573.04%
$0.136704/23/202504/24/202504/24/202504/25/202574.88%
$0.133404/16/202504/17/202504/17/202504/21/2025—
$0.128904/09/202504/10/202504/10/202504/11/2025—
$0.178104/02/202504/03/202504/03/202504/04/2025—
$0.131503/26/202503/27/202503/27/202503/28/2025—
$0.152603/19/202503/20/202503/20/202503/21/2025—
$0.100203/12/202503/13/202503/13/202503/14/2025—
$0.240503/05/202503/06/202503/06/202503/07/2025—
$0.132702/26/202502/27/202502/27/202502/28/2025—
$0.185202/19/202502/20/202502/20/202502/21/2025—
$0.150302/12/202502/13/202502/13/202502/14/2025—
$0.194402/05/202502/06/202502/06/202502/07/202594.58%
$0.146901/29/202501/30/202501/30/202501/31/2025—
$0.172001/22/202501/23/202501/23/202501/24/2025—
$0.111801/15/202501/16/202501/16/202501/17/2025—
$0.139501/07/202501/08/202501/08/202501/10/2025—
$0.180701/02/202501/03/202501/03/202501/06/2025—
$0.244812/26/202412/27/202412/27/202412/30/2024—
$0.139012/18/202412/19/202412/19/202412/20/2024—
$0.122612/11/202412/12/202412/12/202412/13/2024—
$0.237712/04/202412/05/202412/05/202412/06/2024—
$0.305611/27/202411/29/202411/29/202412/02/2024—
$0.244111/20/202411/21/202411/21/202411/22/2024—
$0.152311/13/202411/14/202411/14/202411/15/2024—
$0.119911/06/202411/07/202411/07/202411/08/2024—
$0.224710/30/202410/31/202410/31/202411/01/2024—
$0.226810/23/202410/24/202410/24/202410/25/2024—
$0.174710/16/202410/17/202410/17/202410/18/2024—
$0.204410/09/202410/10/202410/10/202410/11/2024—
$0.207610/02/202410/03/202410/03/202410/04/2024—
$0.222009/25/202409/26/202409/26/202409/27/2024—
$0.227009/18/202409/19/202409/19/202409/20/2024—
$0.591208/13/202408/15/202408/15/202408/16/2024—
$0.651607/16/202407/17/202407/17/202407/18/2024—
$0.730006/13/202406/14/202406/14/202406/17/2024—
$0.731705/14/202405/15/202405/16/202405/17/2024—
$0.631804/16/202404/17/202404/18/202404/19/2024—
$0.568003/13/202403/14/202403/15/202403/18/2024—
$0.533902/14/202402/15/202402/16/202402/20/2024—

*ROC refers to Return of Capital. The figures shown in the table above are estimates and may later be determined to be taxable net investment income, short-term gains, long-term gains (to the extent permitted by law), or return of capital. Please refer to the 19a-1 notices here for additional details regarding the distributions’ composition, once available.

The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing the Fund’s most recent distribution and dividing the resulting amount by the Fund’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. The 30-Day SEC Yield represents net investment income, which excludes option income, earned by the Fund over the 30-Day period ended at the most recent month-end, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-Day period. Distributions are not guaranteed.

The Distribution Rate and 30-Day SEC Yield is not indicative of future distributions, if any, from the Fund. In particular, future distributions from the Fund may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution from the Fund. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease the Fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. 

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Top 10 Holdings

As of 09/14/2026
Holdings are subject to change.

Intra-Day Trades Download
Download Holdings
SECURITY NAMETICKERCUSIPSHARESMARKET VALUENET ASSETSWEIGHTINGS
YieldMax Smci Option Income Strategy ETFSMCY88636R8673,838,097.0020,840,866.71375,106,2955.56%
YieldMax Gold Miners Option Income Strategy ETFGDXY88634T8811,869,619.0020,696,682.33375,106,2955.52%
YieldMax MSFT Option Income Strategy ETFMSFO88634T4281,573,694.0019,088,908.22375,106,2955.09%
YieldMax AI & Tech Portfolio Option Income ETFGPTY88636R735446,238.0019,005,276.42375,106,2955.07%
YieldMax Xom Option Income Strategy ETFXOMO88634T4101,598,768.0017,778,300.16375,106,2954.74%
YieldMax SNOW Option Income Strategy ETFSNOY88636J7741,580,930.0017,738,034.60375,106,2954.73%
YieldMaxTM PLTR Option Income Strategy ETFPLTY88636R800500,400.0016,973,568.00375,106,2954.53%
YieldMax TSM Option Income Strategy ETFTSMY88636R8591,090,063.0016,590,758.86375,106,2954.42%
YieldMax Amzn Option Income ETFAMZY88634T8401,572,644.0016,575,667.76375,106,2954.42%
YieldMax JP Option Income Strategy ETFJPO88634T4361,121,131.0016,009,302.23375,106,2954.27%

Fund Documents

Annual Financial Statement
Semi-Annual Financial Statement
Supplemental Tax
Proxy Votes
Annual Tailored Shareholder Report
Semi-Annual Tailored Shareholder Reports

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The Fund (YMAX) is available through various channels including via phone (866) 864-3968, broker-dealers, investment advisers, and other financial services firms, including:
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