YieldMax Ultra Option Income Strategy ETF

ULTY

Market cap $3.1B

Overview Fund Activity

5.62 USD

-0.03

0.53%

At close Updated Sep 18, 10:08 AM EDT

1 day

-0.53%

5 days

1.63%

1 month

-4.75%

3 months

-10.37%

6 months

-12.19%

Year to date

-37.83%

1 year

-50.22%

5 years

-70.96%

10 years

-70.96%

0

Funds holding %

of 7,463 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

528% more capital invested

Capital invested by funds: $3.32M [Q1] → $20.9M (+$17.5M) [Q2]

400% more first-time investments, than exits

New positions opened: 30 | Existing positions closed: 6

115% more funds holding

Funds holding: 20 [Q1] → 43 (+23) [Q2]

75% more repeat investments, than reductions

Existing positions increased: 7 | Existing positions reduced: 4

1.8% more ownership

Funds ownership: 1.53% [Q1] → 3.32% (+1.8%) [Q2]

38% less call options, than puts

Call options by funds: $1.03M | Put options by funds: $1.66M

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Financial journalist opinion

Based on 29 articles about ULTY published over the past 30 days

ULTY: Eye-Popping 88%+ Distribution Yield From Volatile Holdings

The YieldMax Ultra Option Income Strategy ETF provides a monster distribution rate, but it has experienced share price/NAV erosion over time. For a short period, that erosion was reversed, but that was primarily the result of a strong rebound from the April market sell-off. That said, policy tweaks in late 2024 and early 2025 helped to provide added flexibility to the management team to employ various strategies in different environments.

ULTY: Eye-Popping 88%+ Distribution Yield From Volatile Holdings

YieldMax® ETFs Announces Distributions on ULTY, CONY, FIAT, HOOY, LFGY and Others

CHICAGO and MILWAUKEE and NEW YORK, Sept. 17, 2025 (GLOBE NEWSWIRE) -- YieldMax® today announced distributions for the YieldMax® Weekly Payers and Group C ETFs listed in the table below.

YieldMax® ETFs Announces Distributions on ULTY, CONY, FIAT, HOOY, LFGY and Others

ULTY ETF: Capital Erosion Likely To Worsen In H2 2025

YieldMax Ultra Option Income Strategy ETF's latest dividend payouts signal income pressure and ongoing capital erosion concerns. The pressure is likely to persist in 2H 2025 due to below-average volatility for both the broader market and also its top holdings. Historically, the fund's option income barely managed to offset its capital erosion, and the above pressure would worsen the issue.

ULTY ETF: Capital Erosion Likely To Worsen In H2 2025

ULTY ETF is a 117% yielding fund, beating VOO: is it a buy?

The YieldMax Ultra Option Income Strategy ETF (ULTY) has done well this year and is hovering at the highest point on record. ULTY was trading at $5.62, up by over 54% from its lowest level in April this year.

ULTY ETF is a 117% yielding fund, beating VOO: is it a buy?

ULTY: Looks Compelling At This Price Range

YieldMax Ultra Option Income Strategy ETF offers attractive high-yield income through covered calls and puts, limiting downside risk for investors. ULTY's recent implementation of puts has stabilized its trading range, making it a safer and more reliable income producer than earlier in 2024. Total returns, not just distributions, are key to evaluating ULTY, and current price levels reduce NAV erosion risk significantly.

ULTY: Looks Compelling At This Price Range

ULTY: Strategy Has Improved, But Let's Maintain Realistic Expectations

YieldMax Ultra Option Income Strategy ETF offers an exceptionally high yield (~86.5%) through weekly distributions, attracting income-focused investors. ULTY's strategy shift to holding underlying equities and using collars/put spreads has slowed NAV erosion but cannot prevent long-term price decline. Despite recent outperformance in total return versus SPY and QQQ, ULTY's share price has declined, highlighting the tradeoff between yield and capital preservation.

ULTY: Strategy Has Improved, But Let's Maintain Realistic Expectations

ULTY: How YieldMax Reduced NAV Erosion While Sustaining 80%+ Yields

YieldMax Ultra Option Income Strategy ETF has improved performance after a strategic shift, stabilizing NAV and maintaining an 87%+ yield. ULTY now employs diverse option strategies, including collars and put spreads, and actively rotates high-volatility underlying assets for income generation. While ULTY offers high yields, it carries significant risk, is untested in down markets, and should only be used as a small allocation for income enhancement.

ULTY: How YieldMax Reduced NAV Erosion While Sustaining 80%+ Yields

ULTY: 100%+ Yield That Has To Be Ignored

The YieldMax Ultra Option Income Strategy ETF offers extremely high yields through complex synthetic option strategies, but carries significant risk and high fees. ULTY's weekly payouts and synthetic covered call approach expose investors to heightened NAV erosion, particularly during sharp market corrections or volatility shocks. Despite a headline yield near 120%, much of ULTY's distribution is funded by NAV decay, resulting in declining dividends and suboptimal total returns.

ULTY: 100%+ Yield That Has To Be Ignored

ULTY: The New Strategy Has Worked, But Conditions May Be Shifting

YieldMax Ultra Option Income Strategy ETF has delivered strong recent returns, outperforming QQQ but trailing ARKK since mid-March. ULTY employs a covered call and put-buying strategy on high-volatility, growth-oriented stocks, with a high expense ratio of 1.3%. The fund's high yield is partly a return of capital, and falling volatility may reduce future income potential; tax considerations are significant.

ULTY: The New Strategy Has Worked, But Conditions May Be Shifting

Why We're Avoiding This 89% Dividend ETF

It's a trap I see investors fall into all the time: pouncing on yields that are so high as to be, frankly, absurd. Case in point: the 89% (not a typo!

Why We're Avoiding This 89% Dividend ETF

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