ETF Comparison
TSLY vs YMAX: Which Is the Better Pick in 2026?
A head-to-head comparison of YieldMax TSLA Option Income Strategy ETF and YieldMax Universe Fund of Option Income ETFs covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| TSLY | YMAX | |
|---|---|---|
| Full name | YieldMax TSLA Option Income Strategy ETF | YieldMax Universe Fund of Option Income ETFs |
| Issuer | YieldMax | YieldMax |
| Price | $30.25 | $7.71 |
| Distribution yield | 94.77% | 82.07% |
| Expense ratio | 1.07% | 1.33% |
| AUM | $950M | $447M |
| Distribution frequency | Weekly | Weekly |
| Underlying index | Tesla (TSLA) | Basket (Yieldmax ETFs) |
| Objective | Covered Call | Covered Call |
| Asset class | Equity | Equity |
| Inception date | 11/22/2022 | 01/16/2024 |
| Beta | 1.75 | 0.0 |
| Last dividend | $0.26 | $0.03 |
| Ex-dividend date | 04/02/2026 | 03/25/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
TSLY (YieldMax TSLA Option Income Strategy ETF) and YMAX (YieldMax Universe Fund of Option Income ETFs) are both popular weekly-pay covered call ETFs, but they take different approaches.
TSLY offers the higher yield at 94.77% vs 82.07% for YMAX. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
TSLY is cheaper with an expense ratio of 1.07% compared to 1.33%.
They track different benchmarks: TSLY is linked to Tesla (TSLA) while YMAX tracks Basket (Yieldmax ETFs), which means their performance drivers differ.
TSLY is the larger fund by assets ($950M), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, TSLY would generate roughly $789.75/month while YMAX would produce $683.92/month at current distribution rates. Both pay weekly distributions.
Cost & efficiency
Over 10 years on $10,000, TSLY would cost approximately $1,070 in fees vs $1,330 for YMAX (simplified, not compounded). The $260.00 difference may be offset by yield or performance.
Strategy & risk
TSLY tracks Tesla (TSLA) with a covered call approach, while YMAX tracks Basket (Yieldmax ETFs) using a covered call strategy. Beta is 1.75 for TSLY and 0.0 for YMAX, indicating YMAX is less volatile relative to the market.
Fund details
TSLY is managed by YieldMax (launched 11/22/2022) with $950M in assets. YMAX is managed by YieldMax (launched 01/16/2024) with $447M in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is TSLY or YMAX better for dividend income?
It depends on your goals. TSLY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between TSLY and YMAX?
TSLY (YieldMax TSLA Option Income Strategy ETF) tracks Tesla (TSLA) with a covered call strategy, while YMAX (YieldMax Universe Fund of Option Income ETFs) tracks Basket (Yieldmax ETFs) with a covered call approach. They are issued by YieldMax and YieldMax respectively.
Can I hold both TSLY and YMAX?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, TSLY or YMAX?
TSLY has an expense ratio of 1.07% while YMAX charges 1.33%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in TSLY vs YMAX generate?
At current yields, $10,000 in TSLY would generate roughly $789.75 per month ($9,477.00 annually). The same in YMAX would produce about $683.92 per month ($8,207.00 annually).
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