YieldMax ETFs: Full List, Distributions, and Risks (2026)

YieldMax ETFs use options-based strategies to turn exposure to a stock, index, or themed portfolio into frequent cash distributions. The distribution is not a dividend from the underlying company and is not guaranteed; option premium, realized gains, income, and return of capital can all contribute.

This is the active issuer lineup ranked by assets under management, not a buy list. Compare each fund's underlying exposure, upside cap, expense ratio, distribution changes, NAV trend, total return, inception date, and liquidation status before comparing yields.

YieldMax funds package options strategies around individual stocks, indexes, or themed portfolios. Their frequent distributions can be large because volatile underlyings create richer option premiums, but the same volatility creates concentration and drawdown risk. Written calls can also surrender part of a sharp rally, so the fund may trail its underlying even while paying substantial cash. Evaluate the distribution and the remaining NAV together: cash paid out is only one component of total return.

• Capped upside: covered-call and option-overlay funds in this group keep the option premium in a rally but surrender gains above the strike, so they can trail the very index they write options against.
• Distribution sustainability: the average distribution rate here is 49.9%, and payouts at that level often include return of capital — when distributions persistently exceed total return, NAV erodes and shrinks the base that generates future income.
• Single-name concentration: option-income funds built on one underlying stock inherit that company's full drawdown risk, and a sharp decline can overwhelm months of option premium.
• Concentration in one theme: most funds here focus on single, so the whole list tends to draw down together when that corner of the market falls out of favor — diversification across the table is lower than the fund count suggests.
• Expense drag: expense ratios in this group average 1.08% — several times what broad index funds charge — and that cost compounds directly against total return.

"Best" here means the selection rule below, applied to our own data — not an opinion poll and not a prediction:

• Universe: every security in our database matching this category — 59 qualified as of August 2026.
• Exclusions: liquidated, delisted and renamed funds drop out automatically; a renamed fund's successor appears in its place.
• Ordering: assets under management, largest first.
• Cap: none — all 59 matching funds are listed.
• Independence: no placement on this page is paid, sponsored, or influenced by a fund issuer.