ETF Comparison
YMAX vs ULTY: Which Is the Better Pick in 2026?
A head-to-head comparison of YieldMax Universe Fund of Option Income ETFs and YieldMax Ultra Option Income Strategy ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| YMAX | ULTY | |
|---|---|---|
| Full name | YieldMax Universe Fund of Option Income ETFs | YieldMax Ultra Option Income Strategy ETF |
| Issuer | YieldMax | YieldMax |
| Price | $7.71 | $30.49 |
| Distribution yield | 82.07% | 131.53% |
| Expense ratio | 1.33% | 1.30% |
| AUM | $447M | $978M |
| Distribution frequency | Weekly | Weekly |
| Underlying index | Basket (Yieldmax ETFs) | Basket (High Volatility stocks) |
| Objective | Covered Call | Covered Call |
| Asset class | Equity | Equity |
| Inception date | 01/16/2024 | 02/21/2024 |
| Beta | 0.0 | 0.0 |
| Last dividend | $0.03 | $0.43 |
| Ex-dividend date | 03/25/2026 | 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
YMAX (YieldMax Universe Fund of Option Income ETFs) and ULTY (YieldMax Ultra Option Income Strategy ETF) are both popular weekly-pay covered call ETFs, but they take different approaches.
ULTY offers the higher yield at 131.53% vs 82.07% for YMAX. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
ULTY is cheaper with an expense ratio of 1.30% compared to 1.33%.
They track different benchmarks: YMAX is linked to Basket (Yieldmax ETFs) while ULTY tracks Basket (High Volatility stocks), which means their performance drivers differ.
ULTY is the larger fund by assets ($978M), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, YMAX would generate roughly $683.92/month while ULTY would produce $1,096.08/month at current distribution rates. Both pay weekly distributions.
Cost & efficiency
Over 10 years on $10,000, YMAX would cost approximately $1,330 in fees vs $1,300 for ULTY (simplified, not compounded). The $30.00 difference may be offset by yield or performance.
Strategy & risk
YMAX tracks Basket (Yieldmax ETFs) with a covered call approach, while ULTY tracks Basket (High Volatility stocks) using a covered call strategy. Beta is 0.0 for YMAX and 0.0 for ULTY, indicating ULTY is less volatile relative to the market.
Fund details
YMAX is managed by YieldMax (launched 01/16/2024) with $447M in assets. ULTY is managed by YieldMax (launched 02/21/2024) with $978M in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is YMAX or ULTY better for dividend income?
It depends on your goals. ULTY 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 YMAX and ULTY?
YMAX (YieldMax Universe Fund of Option Income ETFs) tracks Basket (Yieldmax ETFs) with a covered call strategy, while ULTY (YieldMax Ultra Option Income Strategy ETF) tracks Basket (High Volatility stocks) with a covered call approach. They are issued by YieldMax and YieldMax respectively.
Can I hold both YMAX and ULTY?
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, YMAX or ULTY?
YMAX has an expense ratio of 1.33% while ULTY charges 1.30%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in YMAX vs ULTY generate?
At current yields, $10,000 in YMAX would generate roughly $683.92 per month ($8,207.00 annually). The same in ULTY would produce about $1,096.08 per month ($13,153.00 annually).
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