Dividend comparison
YMAX vs NVDY: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for YieldMax Universe Fund of Option Income ETFs and YieldMax NVDA Option Income Strategy ETF, side by side. Updated October 21, 2026.
YMAX vs NVDY: key differences
The short answer, from the latest data on this page.
- Fees. NVDY is cheaper at 1.09% a year versus 1.33% for YMAX. On $10,000 that is $24 a year less in fees.
- Income. YMAX pays more income, yielding 61.45% over the last twelve months versus 53.28% for NVDY. That is about $817 more a year on $10,000. YMAX pays monthly, NVDY pays weekly.
- Performance. Over the last 1 year, NVDY returned -20.9% versus -37.6% for YMAX, with dividends reinvested. $10,000 would have grown to $7,908 in NVDY and $6,241 in YMAX.
- Risk. YMAX has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -40.4%, against -34.1% for NVDY.
- Diversification. YMAX holds 38 positions and NVDY holds 7.
- Size. NVDY is the larger fund with $1.3 billion in assets, against $353 million for YMAX.
Bottom line: YMAX fits better if you care most about more income today and broader diversification. NVDY fits better if you care most about lower fees, stronger 1-year returns and smaller drawdowns.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | YMAX YieldMax Universe Fund of Option Income ETFs | NVDY YieldMax NVDA Option Income Strategy ETF |
|---|---|---|
| Dividend yield (TTM) | 61.45% | 53.28% |
| Dividend / share (TTM) | $4.51 | $6.30 |
| Payout frequency | Monthly | Weekly |
| Last dividend | $0.0594 on Oct 15, 2026 | $0.0797 on Oct 16, 2026 |
| Ex-dividend date | Oct 14, 2026 | Oct 15, 2026 |
| Next payment | $0.0563 on Oct 22, 2026 | — |
| Price | $7.34 | $11.83 |
| Dividend growth streak | — | 1 year |
| Beta | 1.28 | 1.28 |
| Max drawdown (5Y) | -40.4% | -34.1% |
| Market cap | $417.2M | $1.32B |
| Exchange | AMEX | AMEX |
| Expense ratio | 1.33% | 1.09% |
| Assets under management | $353.2M | $1.34B |
| Number of holdings | 38 | 7 |
| Top 10 concentration | 62.3% | — |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
YMAX
$512.09/mo
$6145 /yr at 61.45% yield
NVDY
$443.98/mo
$5328 /yr at 53.28% yield
Dividend history
Total dividends paid per share in each calendar year. YMAX pays monthly; NVDY pays weekly.
| Year | YMAX | NVDY |
|---|---|---|
| 2025 | $7.7483 | $12.1415 |
| 2024 | — | $19.5329 |
Strategy: Single-stock option income
Funds that hold synthetic exposure to one stock, or a basket of them, and sell call options against it every week or month to pay very large distributions. The payout comes from option premium, which is high because the underlying stocks are volatile. When the stock rallies hard, the fund keeps only a slice of the gain; when it falls, the fund takes most of the loss.
Distributions can include return of capital and the share price tends to erode over time, so the headline yield overstates what the investor actually keeps.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jan 17, 2024 would now be worth $9,141 in YMAX and $19,457 in NVDY.
| Period | YMAX | NVDY |
|---|---|---|
| 1 month | -3.80% | -5.59% |
| 3 months | -2.39% | -4.29% |
| Year to date | -26.45% | -18.24% |
| 1 year | -37.59% | -20.92% |
| 3 years | — | 137.55% |
| 5 years | — | — |
- YMAX
- NVDY
Both series indexed to 100 on 2024-01-17 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- YMAX
- NVDY
Top 10 holdings
Largest positions by portfolio weight.
YMAX38 holdings total
| Name | Weight |
|---|---|
| MRNYYieldMax MRNA Option Income Strategy ETF | 10.93% |
| APLYYieldMax AAPL Option Income Strategy ETF | 6.65% |
| HOOYYieldMax HOOD Option Income Strategy ETF | 6.53% |
| FBYYieldMax Meta Option Income Strategy ETF | 6.36% |
| AMDYYieldMax AMD Option Income Strategy ETF | 5.97% |
| GDXYYieldMax Gold Miners Option Income Strategy ETF | 5.38% |
| SMCYYieldMax Smci Option Income Strategy ETF | 5.37% |
| MSFOYieldMax MSFT Option Income Strategy ETF | 5.10% |
| TSLYYieldMax Tsla Option Income ETF | 5.06% |
| GPTYYieldMax AI & Tech Portfolio Option Income ETF | 4.94% |
Quick verdict
YMAX fits better if you care most about more income today and broader diversification. NVDY fits better if you care most about lower fees, stronger 1-year returns and smaller drawdowns. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is YMAX or NVDY better for dividend income?
It depends on your goals. YMAX currently yields 61.45% Trailing Twelve Months (TTM) while NVDY yields 53.28%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between YMAX and NVDY?
YieldMax Universe Fund of Option Income ETFs (YMAX) is an ETF listed on AMEX. YieldMax NVDA Option Income Strategy ETF (NVDY) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, YMAX or NVDY?
NVDY has the lower expense ratio. YMAX charges 1.33% a year and NVDY charges 1.09%, a difference of $24 a year on a $10,000 investment.
Which has performed better, YMAX or NVDY?
Over the last 1 year, NVDY has the higher total return with dividends reinvested: YMAX returned -37.6% and NVDY returned -20.9%. Past performance does not predict future returns.
Which is riskier, YMAX or NVDY?
Measured by the worst peak-to-trough decline over the last five years, YMAX has been riskier: YMAX fell as much as 40.4% and NVDY as much as 34.1%. Their betas are 1.28 and 1.28.
How often do YMAX and NVDY pay dividends?
YMAX pays monthly and NVDY pays weekly.
How much income does $10,000 in YMAX vs NVDY generate?
At current TTM yields, $10,000 in YMAX would generate roughly $512.09 per month ($6145 annually). The same amount in NVDY would produce about $443.98 per month ($5328 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both YMAX and NVDY?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare YMAX vs NVDY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how YMAX and NVDY fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.