What this ETF is trying to do

YMAX is an ETF that focuses on "option income." This means it uses special financial tools called options to try and create regular cash payments for investors.

What the numbers show

The current price of YMAX is $7.53. Looking back, the estimated price from roughly one year ago was about $12.94.

When looking at how an ETF performs, it is important to understand two different measurements: price return and total return.

• Price return only tracks the change in the share price itself. Over the last year, the one-year price return was -41.81%. This means the share price dropped significantly.

• Total return includes both the share price changes and the cash distributions paid out to investors. The one-year total return was -1.55%.

For the current year so far (YTD), the price return is -24.55%, but the YTD total return is 9.32%. This shows that the cash payments helped offset some of the share-price decline this year.

Income and distribution explanation

This ETF has a very high distribution yield of 64.13%. It also pays out money very frequently, which is described as "weekly-like." In the last 12 months, there were 53 distributions.

It is important to know that a high distribution yield does not mean an investor earned that same percentage as their total return. A high yield can sometimes be misleading if the share price is falling at the same time.

NAV erosion explanation

YMAX has a severe erosion-risk flag. This means that the ETF's price trend and its erosion-risk score of 10 triggered a severe warning. The data also uses the label "Severe price erosion."

"NAV erosion" refers to a decrease in the value of the underlying assets in the fund. While a falling market price is a share-price decline, an erosion-risk score is used to measure the risk that the fund's actual value is being worn down over time.

Top Holdings

The following are the Top Holdings for YMAX (as of October 8, 2026). Please note that this is a partial list:

• YIELDMAX CRCL OPTION INCOME STRATEGY ETF (3.44%)

• YIELDMAX NFLX OPTION INCOME STRATEGY ETF (3.17%)

• YIELDMAX XYZ OPTION INCOME STRATEGY ETF (3.12%)

• YIELDMAX COIN OPTION INCOME STRATEGY ETF (2.85%)

• YIELDMAX SNOW OPTION INCOME STRATEGY ETF (2.78%)

• YIELDMAX(TM) RBLX OPTION INC STRAT ETF (2.77%)

• YIELDMAX DKNG OPTION INCOME STRATEGY ETF (2.75%)

• OTHER ASSETS AND LIABILITIES (2.74%)

• YIELDMAX HOOD OPTION INCOME STRATEGY ETF (2.74%)

• YIELDMAX PLTR OPTION INCOME STRATEGY ETF (2.73%)

Pros and Cons

Pros:

• Provides very frequent cash distributions.

• The YTD total return is currently positive at 9.32%.

Cons:

• There has been a large share-price decline over the last year (-41.81%).

• It carries a severe erosion-risk flag.

Beginner takeaway

When looking at ETFs with high yields, it is important to look at more than just the distribution percentage. Investors should compare the share-price decline with the total return to see how much of the income is being offset by a falling share price.