YMAX Review: YieldMax™ Universe Fund of Option Income ETFs - US
YieldMax™ Universe Fund of Option Income ETFs - US (YMAX) is a diversified fund listed on the NYSE/NASDAQ. Below is our independent review using the Dependable Income Investing 13-factor scoring system, covering Fund Attributes, Risk, and Return — designed specifically for income-focused investors.
Fund Attributes 20% of overall score
Fund Attributes cover the foundational characteristics of YMAX: cost, company backing, track record, and size. These factors reflect the fund's stability and cost-efficiency.
Expense Ratio (25%)
Gross expense ratio is 1.28% which is high.
Fund Company Size (5%)
YieldMax manages approximately $9.1 billion in total ETF assets across 61 funds as of March 2026.
Fund History (40%)
Fund inception date was Jan 16th 2024 - just over 2 years of history as of review date.
Fund AUM (30%)
$430.72 Million in assets under management as of March 2026. The fund has shrunk significantly from $766 Million in February 2025 - likely due to poor capital performance.
Risk 35% of overall score
Risk factors evaluate how YMAX manages volatility, diversification, and the nature of its underlying assets. These are critical for income investors who prioritise capital preservation.
Volatility
Lower volatility may indicate more stability — important for investors living off their income.
Beta is 1.18 vs SPY (2024-01-26 to 2026-03-06) - slightly higher than the market. Short fund history limits precision of beta calculation.
Sector Diversification
Holding across more sectors reduces the impact of any single industry downturn.
Geographic Diversification
Exposure across geographies can reduce risk from any single country's economic conditions.
Fund Risk
The fund's overall risk profile, based on self-reported classifications where available.
Underlying Assets
What the fund actually holds — stocks, bonds, synthetics, or other funds — affects risk profile significantly.
See our full Risk analysis for YMAX — including analyst notes on volatility, diversification, and underlying assets.
View Plans →Return 45% of overall score
Return factors assess the income generation quality of YMAX: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Yield
The current dividend yield, reflecting the annual income generated relative to fund price.
Yield Stability
How consistent the distribution amounts have been over time — critical for income investors who budget around payments.
Capital History
The fund's track record of price appreciation or depreciation, reflecting total return alongside income.
Distribution Frequency
How often the fund pays distributions — monthly payments are generally preferred by income investors.
Weekly distributions (moved from monthly in September 2024).
See our full Return analysis for YMAX — yield rating, distribution consistency score, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score is designed to answer the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions About YMAX
What is YMAX's expense ratio?
Gross expense ratio is 1.28% which is high.
How long has YMAX been trading?
Fund inception date was Jan 16th 2024 - just over 2 years of history as of review date.
How large is YMAX by assets under management?
$430.72 Million in assets under management as of March 2026. The fund has shrunk significantly from $766 Million in February 2025 - likely due to poor capital performance.
Who manages YMAX?
YieldMax manages approximately $9.1 billion in total ETF assets across 61 funds as of March 2026.
Where can I see the full YMAX review?
The complete 13-factor review — including all Risk and Return scores, analyst notes, and your Dependability Score — is available in the Dependable Income Investing app.
Does YMAX pay monthly dividends?
Weekly distributions (moved from monthly in September 2024). Full distribution history and yield stability score are available in the Dependable Income Investing app.
Is YMAX a high-volatility fund?
Beta is 1.18 vs SPY (2024-01-26 to 2026-03-06) - slightly higher than the market. Short fund history limits precision of beta calculation. See the full volatility score and risk analysis in the Dependable Income Investing app.
How often does YMAX pay distributions?
Weekly distributions (moved from monthly in September 2024). Distribution consistency and yield stability ratings are available in the app.
See the Full YMAX Review
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors, analyst notes, Dependability Score, and tools to compare YMAX against other income funds side by side.
View Plans →Also available: free fund comparison tools in the app.