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About Tidal Trust II YieldMax Universe Fund of Option Income ETFs
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Inception date
Jan 17, 2024
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
YMAX is an actively managed fund-of-funds that invests in YieldMax ETFs. Each of the underlying funds aim to generate monthly income while providing exposure to the price returns of specific securities, subject to a cap on potential investment gains. The underlying funds each utilize a synthetic covered call strategy via standardized exchange-traded and FLEX options, consisting of synthetic long exposure, covered call writing, and US Treasurys as collateral. The funds strategy limits participation in potential gains when shares increase in value, as well as exposes investors to the stocks downside. The underlying funds do not directly invest in stocks. Therefore, investors of both YMAX and the underlying funds are not entitled to dividends from the underlying securities. While the fund intends to invest fully in YieldMax ETFs, it may still invest directly in securities held by the underlying ETFs for tax purposes. The equal-weighted portfolio is rebalanced and adjusted monthly.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
ETF
Bonds, Cash & Other100.00%
ETF98.72%
Mutual fund1.11%
Cash0.17%
Stock breakdown by region
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
YMAX invests in funds. The fund's major sectors are ETF, with 98.72% stocks, and Mutual fund, with 1.11% of the basket. The assets are mostly located in the North America region.
YMAX top holdings are YieldMax Gold Miners Option Income Strategy ETF and YieldMax SNOW Option Income Strategy ETF, occupying 3.72% and 3.66% of the portfolio correspondingly.
YMAX last dividends amounted to 0.18 USD. The week before, the issuer paid 0.17 USD in dividends, which shows a 4.55% increase.
YMAX assets under management is 853.45 M USD. It's risen 11.26% over the last month.
YMAX fund flows account for 892.28 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, YMAX pays dividends to its holders with the dividend yield of 60.64%. The last dividend (Jun 13, 2025) amounted to 0.18 USD. The dividends are paid weekly.
YMAX shares are issued by Toroso Investments Topco LLC under the brand YieldMax. The ETF was launched on Jan 17, 2024, and its management style is Active.
YMAX expense ratio is 1.28% meaning you'd have to pay 1.28% of your investment to help manage the fund.
YMAX follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
YMAX invests in funds.
YMAX price has fallen by −4.78% over the last month, and its yearly performance shows a −35.84% decrease. See more dynamics on YMAX price chart.
NAV returns, another gauge of an ETF dynamics, showed a 11.70% increase in three-month performance and has increased by 3.23% in a year.
NAV returns, another gauge of an ETF dynamics, showed a 11.70% increase in three-month performance and has increased by 3.23% in a year.
YMAX trades at a premium (0.34%) meaning the ETF is trading at a higher price than the calculated NAV.