YMAX vs YQQQ
YieldMax Universe Fund of Option Income ETF vs YieldMax Short N100 Option Income Strategy ETF
Which is better, YMAX or YQQQ?
Opposite sides of the same exposure.
YQQQ has a lower expense ratio. YMAX led over the full window, YQQQ over 1Y. The two move opposite each other, correlation -0.83, 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 | YMAX | YQQQ |
|---|---|---|
| Expense Ratio | 1.33% | 1.11%Best |
| AUM | $370M | $26M |
| Dividend Yield | 70.90% | 29.67% |
| Holdings | 60 | 26 |
| YTD Return | +5.14%Best | -0.89% |
| 1Y Return | -3.33% | +0.35%Best |
| Volatility (annualized) | 20.9% | 15.3%Best |
| Max Drawdown | -26.1%Best | -29.1% |
| $10,000 over 2.2 years | $12,874Best | $8,589 |
| Fund Family | YieldMax ETF | YieldMax ETF |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Jan 16, 2024 | Aug 14, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.2 years row, are measured over the window both funds cover: Aug 15, 2024 to Oct 14, 2026 (2.2 years).
YMAX vs YQQQ 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 2.2 years both funds cover.
YMAX vs YQQQ Performance
YieldMax Universe Fund of Option Income ETF (YMAX) is an ETF from YieldMax ETF and YieldMax Short N100 Option Income Strategy ETF (YQQQ) is an ETF from YieldMax ETF. Over the past year YMAX returned -3.33% while YQQQ returned +0.35%. Year to date, YMAX is up 5.14% versus a loss of 0.89% for YQQQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
YMAX has been the more volatile fund, with annualized monthly volatility of 20.9% compared with 15.3% for YQQQ. 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 -26.1% for YMAX and -29.1% for YQQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.83. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
YMAX charges 1.33% per year while YQQQ charges 1.11%. On a $10,000 position that is $133 vs $111 annually, a gap of $22 per year that compounds over a long holding period. On income, YMAX currently yields 70.90% against 29.67% for YQQQ.
Holdings Overlap
At least 0.9% of YMAX's money is in holdings YQQQ also owns.
Stated as a floor: for YQQQ, our book for it covers 17.4% 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 29 positions we hold weights for in YMAX and 2 in YQQQ, against full books of 60 and 26.
Top Shared Holdings
| Stock | Weight in YMAX | Weight in YQQQ | Difference |
|---|---|---|---|
| FGXXXFirst American Government Obligations Fund | 0.89% | 2.10% | 1.21% |
You are not choosing between two funds in isolation.
Whichever of YMAX and YQQQ 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, YMAX or YQQQ?
YMAX has an expense ratio of 1.33% while YQQQ charges 1.11%. YQQQ is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, YMAX or YQQQ?
Over the past year YMAX returned -3.33% vs +0.35% for YQQQ, so YQQQ leads on 1-year performance. Over the longest common window we track (2 years), YMAX annualized +12.17% vs -6.68% for YQQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, YMAX or YQQQ?
YMAX has been the more volatile fund at 20.9% annualized versus 15.3% for YQQQ. Worst drawdown: YMAX -26.1% vs YQQQ -29.1%.
Should I hold both YMAX and YQQQ?
YMAX and YQQQ have a monthly-return correlation of -0.83, 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, YMAX or YQQQ?
YMAX yields 70.90% while YQQQ yields 29.67%, so YMAX currently pays the higher dividend yield.
Is YQQQ better than YMAX?
YQQQ has a lower expense ratio. YMAX led over the full window, YQQQ over 1Y. The two move opposite each other, correlation -0.83, 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.