Dividend comparison
YMAX vs TSLY: 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 TSLA Option Income Strategy ETF, side by side. Updated October 21, 2026.
YMAX vs TSLY: key differences
The short answer, from the latest data on this page.
- Fees. TSLY is cheaper at 1.07% a year versus 1.33% for YMAX. On $10,000 that is $26 a year less in fees.
- Income. TSLY pays more income, yielding 81.23% over the last twelve months versus 61.45% for YMAX. That is about $1,978 more a year on $10,000. Both pay monthly.
- Performance. Over the last 1 year, TSLY returned -10.5% versus -37.6% for YMAX, with dividends reinvested. $10,000 would have grown to $8,951 in TSLY and $6,241 in YMAX.
- Risk. TSLY has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -49.5%, against -40.4% for YMAX.
- Diversification. YMAX holds 38 positions and TSLY holds 10.
Bottom line: YMAX fits better if you care most about smaller drawdowns and broader diversification. TSLY fits better if you care most about lower fees, more income today and stronger 1-year returns.
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 | TSLY YieldMax TSLA Option Income Strategy ETF |
|---|---|---|
| Dividend yield (TTM) | 61.45% | 81.23% |
| Dividend / share (TTM) | $4.51 | $17.67 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.0594 on Oct 15, 2026 | $0.2063 on Oct 16, 2026 |
| Ex-dividend date | Oct 14, 2026 | Oct 15, 2026 |
| Next payment | $0.0563 on Oct 22, 2026 | — |
| Price | $7.34 | $21.75 |
| Beta | 1.28 | 1.43 |
| Max drawdown (5Y) | -40.4% | -49.5% |
| Market cap | $417.2M | $468.5M |
| Exchange | AMEX | AMEX |
| Expense ratio | 1.33% | 1.07% |
| Assets under management | $353.2M | $660.0M |
| Number of holdings | 38 | 10 |
| 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
TSLY
$676.94/mo
$8123 /yr at 81.23% yield
Dividend history
Total dividends paid per share in each calendar year. YMAX pays monthly; TSLY pays monthly.
| Year | YMAX | TSLY |
|---|---|---|
| 2025 | $7.7483 | $34.2314 |
| 2024 | — | $55.4491 |
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 $12,274 in TSLY.
| Period | YMAX | TSLY |
|---|---|---|
| 1 month | -3.80% | 1.45% |
| 3 months | -2.39% | -1.63% |
| Year to date | -26.45% | -12.44% |
| 1 year | -37.59% | -10.49% |
| 3 years | — | 24.86% |
| 5 years | — | — |
- YMAX
- TSLY
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
- TSLY
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 smaller drawdowns and broader diversification. TSLY fits better if you care most about lower fees, more income today and stronger 1-year returns. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how YMAX vs TSLY fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is YMAX or TSLY better for dividend income?
It depends on your goals. YMAX currently yields 61.45% Trailing Twelve Months (TTM) while TSLY yields 81.23%. 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 TSLY?
YieldMax Universe Fund of Option Income ETFs (YMAX) is an ETF listed on AMEX. YieldMax TSLA Option Income Strategy ETF (TSLY) 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 TSLY?
TSLY has the lower expense ratio. YMAX charges 1.33% a year and TSLY charges 1.07%, a difference of $26 a year on a $10,000 investment.
Which has performed better, YMAX or TSLY?
Over the last 1 year, TSLY has the higher total return with dividends reinvested: YMAX returned -37.6% and TSLY returned -10.5%. Past performance does not predict future returns.
Which is riskier, YMAX or TSLY?
Measured by the worst peak-to-trough decline over the last five years, TSLY has been riskier: YMAX fell as much as 40.4% and TSLY as much as 49.5%. Their betas are 1.28 and 1.43.
How often do YMAX and TSLY pay dividends?
Both pay monthly. The most recent payments were $0.0594 for YMAX and $0.2063 for TSLY.
How much income does $10,000 in YMAX vs TSLY generate?
At current TTM yields, $10,000 in YMAX would generate roughly $512.09 per month ($6145 annually). The same amount in TSLY would produce about $676.94 per month ($8123 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both YMAX and TSLY?
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 TSLY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how YMAX and TSLY 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.