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Security Comparison

AMZN vs AMZY: Which Is the Better Pick in 2026?

A head-to-head comparison of Amazon.com, Inc. and YieldMax AMZN Option Income Strategy ETF covering yield, cost, risk, and income potential.

Updated October 16, 2026

How these figures are calculated: methodology.

Best for

  • AMZNInvestors who want direct ownership of the underlying business, with no fund wrapper or management fee.
  • AMZYInvestors who want to maximize current income — roughly 28.26%, generated by selling options premium.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

AMZN has outpaced AMZY over the trailing twelve months, posting a 16.57% total return against 10.67%. The lead holds up over 3 years too: AMZN has compounded at 23.55% a year, against 20.37% for AMZY. AMZY has been the steadier holding, though — annualized volatility of 25.4% against 31.9% for AMZN. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualizedSince Jul 2023Volatility Sharpe Sortino Max drawdown
AMZN8.31%16.57%23.55%22.71%31.9%0.530.80-30.9%
AMZY4.89%10.67%20.37%21.06%25.4%0.570.82-23.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jul 2023” measures every fund from July 25, 2023 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Distribution rate, SEC yield and return of capital

MetricAMZNAMZY
Forward distribution rate—28.26%
Trailing 12-month yield—49.39%
30-day SEC yield—3.12%
Return of capital—89.30%

Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Not a distribution payer

AMZN (Amazon.com, Inc.) has no distribution rate on file and its distribution frequency is None. AMZN is not a payer. The blank yield is not a zero yield.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricAMZNAMZY
Full nameAmazon.com, Inc.YieldMax AMZN Option Income Strategy ETF
Issuer—YieldMax
Last Close$250.00 as of October 16, 2026$10.12 as of October 16, 2026
Distribution rate—28.26%
Trailing 12-month yield—49.39%
30-day SEC yield—3.12%
Distribution Safety Score™ —33
Safety-Adjusted Yield —9.33%
Expense ratio—1.09%
AUM—$216M
Distribution frequencyNoneWeekly
Underlying index—Amazon (AMZN)
ObjectiveOperates as an online retailer and web services provider. Segments include North America, International, and Amazon Web Services (AWS) cloud computing platform.YieldMax AMZN Option Income Strategy ETF seeks current income while providing indirect exposure to the share price returns of Amazon.com, Inc. common stock, subject to a limit on potential investment gains. The fund does not invest directly in Amazon.com, Inc.; it uses a synthetic covered call strategy built from standardized exchange-traded options.
Asset classEquityEquity
Inception dateN/A07/24/2023
Beta1.4561.16
Last dividend—$0.055 payable today
Ex-dividend date—10/15/2026

Bottom lineChoose AMZN if you want direct ownership of the underlying business, with no fund wrapper or management fee. Choose AMZY if you want to maximize current income — roughly 28.26%, generated by selling options premium. There's no free lunch: AMZY's payout comes from selling options, which caps upside and can erode the share price over time, while AMZN keeps full price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Capped upside and premium dependence. AMZY generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

See how much monthly income a hypothetical investment would generate in each security at current yields.

YieldMax
ETFs62
Total AUM$10.0B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.

See our curated list of related YouTube videos on AMZY.

See all ETFs from YieldMax

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Quick verdict

AMZN (Amazon.com, Inc.) is a stock, while AMZY (YieldMax AMZN Option Income Strategy ETF) is an ETF — their trading structures differ.

AMZY currently shows a 28.26% distribution yield. AMZN has not yet established a full distribution history, so a comparable yield figure is not available.

Deep dive

Yield & income

On a $10,000 investment, AMZN has no reported distribution yield yet, so a cash estimate is not available, while AMZY would produce $54.35 cash per distribution, at current distribution rates.

AMZN yield—
AMZY yield28.26%

Cost & efficiency

AMZY charges a 1.09% expense ratio — roughly $1,090 over 10 years on $10,000 (simplified, not compounded). AMZN is a stock, not a fund, so it charges no expense ratio.

AMZY ER1.09%

Strategy & risk

AMZN is a stock built around e-commerce & cloud exposure, while AMZY tracks Amazon (AMZN) with a covered call approach. Beta is 1.456 for AMZN and 1.16 for AMZY, making AMZY the less volatile of the two by this measure.

AMZN beta1.456
AMZY beta1.16

Security details

AMZN (Amazon.com, Inc.) is a stock. AMZY is managed by YieldMax (launched 07/24/2023) with $216M in assets.

AMZY AUM$216M
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Frequently asked questions

Which of AMZN or AMZY pays more dividend income?

AMZY currently reports a distribution yield, while AMZN has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.

What is the difference between AMZN and AMZY?

AMZN (Amazon.com, Inc.) is a stock built around e-commerce & cloud exposure, while AMZY (YieldMax AMZN Option Income Strategy ETF) tracks Amazon (AMZN) with a covered call approach. They are issued by — and YieldMax respectively.

Can I hold both AMZN and AMZY?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Which has lower fees, AMZN or AMZY?

AMZY charges a 1.09% expense ratio. AMZN is a stock, not a fund, so it has no expense ratio — owning it directly costs nothing in ongoing fund fees.

How much income does $10,000 in AMZN vs AMZY generate?

At current rates, AMZN does not pay distributions, so there is no cash income to estimate. The same in AMZY would produce about $54.35 cash per distribution ($2,826.00 annually).

Which has performed better historically, AMZN or AMZY?

AMZN has outpaced AMZY over the trailing twelve months, posting a 16.57% total return against 10.67%. The lead holds up over 3 years too: AMZN has compounded at 23.55% a year, against 20.37% for AMZY. AMZY has been the steadier holding, though — annualized volatility of 25.4% against 31.9% for AMZN. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

AMZN vs AMZY — at a glance

Generated October 17, 2026.

Overview

AMZN is the underlying Amazon.com stock itself—a mature e-commerce and cloud-computing giant with no dividend. AMZY is a YieldMax ETF that wraps Amazon shares in a synthetic covered-call options strategy, capping upside in exchange for weekly income distributions. The two offer radically different return profiles and are best understood as separate investment choices rather than holders of the same asset.

How they differ

AMZN produces no distributions and has paid none since inception in 1997.

The structural difference runs deeper. AMZN is common stock—you own a fractional claim on Amazon's earnings and growth. AMZY is a 1.09% cost ETF with $216M in assets that synthetically replicates Amazon exposure through options, not share ownership. Your stake in AMZY does not vote or claim earnings; it exchanges price appreciation for current income. AMZN has a beta of 1.456; AMZY's beta of 1.16 reflects the dampening effect of the short calls.

The inception dates signal maturity gaps too. AMZN has 29 years, while AMZY launched 3 years, making it a young strategy still gathering liquidity.

Who each is best for

  • AMZN: Fits investors with a multi-decade horizon who expect Amazon's earnings and market position to drive capital appreciation, and who can forgo immediate income in pursuit of tax-deferred or long-term capital-gains treatment.
  • AMZY: Designed for investors prioritizing predictable weekly cash flow from Amazon exposure, and who accept a ceiling on price appreciation (and downside participation at a scaled rate due to beta dampening) as a fair tradeoff for current income. Over time, NAV may decline as option income is distributed.
  • Capped upside and call assignment risk: The synthetic covered-call strategy caps AMZY's gain if Amazon shares rally sharply. You forfeit multi-hundred-percent rallies that an AMZN holder would capture. If calls are exercised, your synthetic position resets, potentially locking in losses if Amazon has fallen between call strikes.
  • Options liquidity and implied volatility dependence: Weekly distributions depend on selling options at profitable implied volatility levels. A sharp collapse in Amazon's IV, or liquidity drying up in short-dated options, could pressure the fund's ability to sustain its distribution rate.
  • Single-asset concentration: Both securities are entirely dependent on Amazon's business and stock performance. AMZN holders bear the full equity risk; AMZY holders bear it capped, but still entirely concentrated in one name.

Bottom line

AMZN offers uncapped participation in Amazon's growth and a structure that favors long-term, tax-efficient accumulation. AMZY trades that growth potential for reliable weekly income and lower beta, at the cost of capped upside and the ongoing NAV erosion that typically accompanies high-yield option strategies. If you value growth and patient capital appreciation, AMZN aligns with that goal; if you prioritize current income from Amazon exposure and can accept limited upside, AMZY addresses a different investor need. Neither choice is inherently correct—it depends on your income requirements and return expectations. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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These comparisons follow the Dividend Vision methodology.