YieldMax JP Option Income Strategy ETF (JPO) Performance
JPO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +2.8% since Dec 31, 2025
- 1 year
- +9.3% total return
- 3 years
- +16.0% a year
- Since first price
- +14.0% a year since 2023
JPO trailing returns vs SPY, QQQ, AGG
| Period | JPO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.0% | −2.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −4.3% | −9.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.7% | −7.6% | +7.8% | +8.4% | −1.5% |
| YTD | +2.8% | −17.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.3% | −17.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +56.0%+16.0%/yr | −31.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionSep 12, 2023 | +50.5%+14.0%/yr | −34.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: JPO vs SPY
From Sep 12, 2023: JPO grew to $15,049, SPY to $17,731.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
JPO returns by calendar year
2 of 2 full years positive. Best 2025 (+22.3%), worst 2024 (+14.0%). 2026 is year to date.
JPO annual returns table
| Year | JPO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +2.8% | −14.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +22.3% | −24.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.0% | −10.6% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
JPO largest drawdowns
Now 7.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 18, 2025 | −24.8% | Apr 4, 2025 | Jul 3, 2025 | 45 days | 4 months |
| Jan 6, 2026 | −14.2% | Mar 12, 2026 | Jul 6, 2026 | 2 months | 6 months |
| Apr 8, 2024 | −10.6% | Aug 5, 2024 | Nov 6, 2024 | 4 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
JPO risk statistics
| Statistic | 3 years |
|---|---|
| Annualized return | +14.4% |
| Volatility (annualized) | 16.0% |
| Sharpe ratio | 0.65 |
| Sortino ratio | 1.06 |
| Best month | +9.8% |
| Worst month | −8.2% |
| Best 12 months | +27.9% |
| Worst 12 months | −1.3% |
| Positive months | 58% |
| Beta vs S&P 500 | 0.77 |
| Correlation with S&P 500 | 0.60 |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
JPO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 26 | −1.3% | +14.2% | +27.9% | 96% |
| 3-year (a year) | 2 | +14.4% | +15.5% | +16.5% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
JPO performance overview
YieldMax JP Option Income Strategy ETF (JPO) returned +9.3% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +14.0% a year, turning $10,000 into about $15,049. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −24.8%, from Feb 18, 2025 to Apr 4, 2025, and it took 3 months to get back to the old high. Volatility has been 16.0% a year.
Related: JPO chart, JPO dividends. See the JPO overview for the latest quote and fund facts.
JPO performance FAQ
What is the JPO return over the past year?
JPO returned +9.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 17.4%.
How much would $10,000 invested in JPO be worth?
$10,000 invested in JPO at its first recorded close on September 12, 2023 would be worth about $15,049 on October 23, 2026 with distributions reinvested.
What was the worst year for JPO?
The worst calendar year was 2024, with a total return of +14.0%. The best was 2025 at +22.3%.
What is the biggest drawdown of JPO?
The largest peak-to-trough decline was −24.8% between February 18, 2025 and April 4, 2025. It recovered to the old high on July 3, 2025, 3 months after the bottom.
How volatile is JPO?
Over the past 3 years JPO had an annualized volatility of 16.0% and a Sharpe ratio of 0.65 (excess return over 1–3 month T-bills per unit of risk).