FIAT vs YMAX
YieldMax Short COIN Option Income Strategy ETF vs YieldMax Universe Fund of Option Income ETF
Which is better, FIAT or YMAX?
Opposite sides of the same exposure.
FIAT has a lower expense ratio. FIAT led over 1Y, YMAX over the full window. The two move opposite each other, correlation -0.78, so holding both offsets the exposure while paying both fees.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FIAT | YMAX |
|---|---|---|
| Expense Ratio | 1.05%Best | 1.33% |
| AUM | $30M | $370M |
| Dividend Yield | 122.18% | 70.90% |
| Holdings | 15 | 60 |
| YTD Return | +4.11% | +5.14%Best |
| 1Y Return | +35.51%Best | -3.33% |
| Volatility (annualized) | 55.0% | 20.7%Best |
| Max Drawdown | -70.5% | -26.1%Best |
| $10,000 over 2.3 years | $5,438 | $12,131Best |
| Fund Family | YieldMax ETF | YieldMax ETF |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Jul 9, 2024 | Jan 16, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jul 10, 2024 to Oct 14, 2026 (2.3 years).
FIAT vs YMAX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.3 years both funds cover.
FIAT vs YMAX Performance
YieldMax Short COIN Option Income Strategy ETF (FIAT) is an ETF from YieldMax ETF and YieldMax Universe Fund of Option Income ETF (YMAX) is an ETF from YieldMax ETF. Over the past year FIAT returned +35.51% while YMAX returned -3.33%. Year to date, FIAT is up 4.11% versus a gain of 5.14% for YMAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FIAT has been the more volatile fund, with annualized monthly volatility of 55.0% compared with 20.7% for YMAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -70.5% for FIAT and -26.1% for YMAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.78. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
FIAT charges 1.05% per year while YMAX charges 1.33%. On a $10,000 position that is $105 vs $133 annually, a gap of $28 per year that compounds over a long holding period. On income, FIAT currently yields 122.18% against 70.90% for YMAX.
Holdings Overlap
At least 0.9% of YMAX's money is in holdings FIAT also owns.
Stated as a floor: for FIAT, our book for it covers 18.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
They hold the same names on opposite sides, so owning both offsets the exposure rather than doubling it.
1 positions in common, counted across the 2 positions we hold weights for in FIAT and 29 in YMAX, against full books of 15 and 60.
Top Shared Holdings
| Stock | Weight in FIAT | Weight in YMAX | Difference |
|---|---|---|---|
| FGXXXFirst American Government Obligations Fund | 17.22% | 0.89% | 16.33% |
You are not choosing between two funds in isolation.
Whichever of FIAT and YMAX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FIAT or YMAX?
FIAT has an expense ratio of 1.05% while YMAX charges 1.33%. FIAT is the cheaper option, by $28 a year on a $10,000 investment.
Which performed better, FIAT or YMAX?
Over the past year FIAT returned +35.51% vs -3.33% for YMAX, so FIAT leads on 1-year performance. Over the longest common window we track (2 years), FIAT annualized -23.27% vs +8.76% for YMAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FIAT or YMAX?
FIAT has been the more volatile fund at 55.0% annualized versus 20.7% for YMAX. Worst drawdown: FIAT -70.5% vs YMAX -26.1%.
Should I hold both FIAT and YMAX?
FIAT and YMAX have a monthly-return correlation of -0.78, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
Which pays a higher dividend, FIAT or YMAX?
FIAT yields 122.18% while YMAX yields 70.90%, so FIAT currently pays the higher dividend yield.
Is YMAX better than FIAT?
FIAT has a lower expense ratio. FIAT led over 1Y, YMAX over the full window. The two move opposite each other, correlation -0.78, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.