YieldMax Universe Fund of Option Income ETFs (YMAX) Performance
YMAX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +4.6% since Dec 31, 2025
- 1 year
- −4.4% total return
- Since first price
- +40.0% since 2024
YMAX trailing returns vs SPY, QQQ, AGG
| Period | YMAX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −5.4% | −8.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +6.9% | −3.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.0% | −15.1% | +7.8% | +8.4% | −1.5% |
| YTD | +4.6% | −28.5% | +12.3% | +15.1% | −1.0% |
| 1 year | −4.4% | −41.8% | +14.4% | +15.9% | −1.1% |
| Since inceptionJan 17, 2024 | +40.0% | −64.1% | — | — | — |
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: YMAX vs SPY
From Jan 17, 2024: YMAX grew to $14,004, SPY to $16,618.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
YMAX returns by calendar year
1 of 1 full years positive. Best 2025 (+6.0%), worst 2025 (+6.0%). 2026 is year to date.
YMAX annual returns table
| Year | YMAX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +4.6% | −19.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +6.0% | −25.3% | +17.7% | +20.8% | +7.2% |
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.
YMAX largest drawdowns
Now 7.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 8, 2025 | −26.1% | Mar 30, 2026 | not yet | 6 months | 1.0 years so far |
| Dec 6, 2024 | −25.6% | Apr 8, 2025 | Jun 26, 2025 | 4 months | 7 months |
| Jul 15, 2024 | −12.8% | Aug 5, 2024 | Oct 29, 2024 | 21 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
YMAX risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +14.2% |
| Volatility (annualized) | 20.0% |
| Sharpe ratio | 0.55 |
| Sortino ratio | 0.99 |
| Best month | +13.8% |
| Worst month | −7.4% |
| Best 12 months | +27.4% |
| Worst 12 months | −7.7% |
| Positive months | 56% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
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.
YMAX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 22 | −7.7% | +6.9% | +27.4% | 82% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
YMAX performance overview
YieldMax Universe Fund of Option Income ETFs (YMAX) returned −4.4% over the past year, with distributions reinvested. Since its first recorded price on Jan 17, 2024 it has returned +40.0%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −26.1%, from Oct 8, 2025 to Mar 30, 2026; the fund has not yet regained that high. Volatility has been 20.0% a year.
Related: YMAX chart, YMAX holdings, YMAX dividends. See the YMAX overview for the latest quote and fund facts.
YMAX performance FAQ
What is the YMAX return over the past year?
YMAX returned −4.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 41.8%.
How much would $10,000 invested in YMAX be worth?
$10,000 invested in YMAX at its first recorded close on January 17, 2024 would be worth about $14,004 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of YMAX?
The largest peak-to-trough decline was −26.1% between October 8, 2025 and March 30, 2026. It has not yet recovered to that high; it is 7.3% below its peak.
How volatile is YMAX?
Over the past history YMAX had an annualized volatility of 20.0% and a Sharpe ratio of 0.55 (excess return over 1–3 month T-bills per unit of risk).