# YieldMax Ultra Option Income Strategy ETF (ULTY): ETF Facts & Distributions

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- Issuer: YieldMax · Asset class: Equity
- Strategy: Leveraged · Inception: 2024-02-28

The YieldMax Ultra Option Income Strategy ETF (ULTY) is an actively managed exchange-traded fund structured to generate consistent income. It accomplishes this by utilizing a varied portfolio of covered call options. The fund typically invests in 15 to 30 underlying securities, which are primarily chosen based on their implied volatility. While ULTY provides exposure to the performance of these foundational assets, any potential gains are subject to an upper limit. The investment portfolio undergoes regular re-evaluation and modifications, with holdings being increased, reduced, or replaced...

## Key Facts

| Metric | Value |
|---|---|
| Price | $22.68 |
| Expense Ratio | 1.40% |
| Assets Under Management | $650.1M |
| NAV | $23.62 |
| Holdings Count | 112 |
| Distribution Yield (TTM) | 99.75% |
| Annual Distribution (TTM) | $22.62 /share |
| Distribution Frequency | Weekly |
| 52-Week Range | $22.61 – $51.20 |
| Beta | 1.45 |

## Latest Distribution

- Amount: $0.2772 /share
- Ex-date: 2026-10-21
- Pay date: 2026-10-22

## Frequently Asked Questions

### What does ULTY invest in?

The YieldMax Ultra Option Income Strategy ETF (ULTY) is an actively managed exchange-traded fund structured to generate consistent income. It accomplishes this by utilizing a varied portfolio of covered call options. The fund typically invests in 15 to 30 underlying securities, which are primarily chosen based on their implied volatility. While ULTY provides exposure to the performance of these foundational assets, any potential gains are subject to an upper limit. The investment portfolio undergoes regular re-evaluation and modifications, with holdings being increased, reduced, or replaced as market conditions shift.

### What is the expense ratio of ULTY?

YieldMax Ultra Option Income Strategy ETF (ULTY) charges an expense ratio of 1.40%. This is the annual fee deducted from fund assets to cover management and operations.

### What is ULTY's dividend yield?

ULTY's trailing-twelve-month yield is 99.75%, calculated from the sum of dividends over the past year divided by the current price.

### Is ULTY a good long-term hold?

ULTY is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple, typically with negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

### How does ULTY's daily reset work?

ULTY rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level, so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

### How big is ULTY?

YieldMax Ultra Option Income Strategy ETF (ULTY) manages $650.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

### Does ULTY pay a dividend?

Yes, YieldMax Ultra Option Income Strategy ETF (ULTY) distributes dividends to shareholders. The trailing-twelve-month yield is 99.75%. Full dividend history is on this page.

### How often does ULTY pay dividends?

YieldMax Ultra Option Income Strategy ETF pays dividends Weekly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### When is ULTY's next ex-dividend date?

The most recently announced ex-dividend date for ULTY was 2026-10-21. The next ex-date typically follows Weekly; once announced it appears at the top of the dividend history table on this page.

### How much will ULTY's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 1.40% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees.

### How does ULTY charge its expense ratio?

The expense ratio is deducted in tiny daily slices from ULTY's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price.

### Why does ULTY cost more than a fund like VOO?

ULTY is a leveraged fund (current expense ratio 1.40%). Daily-reset leverage products carry swap and financing costs that don't exist on a plain-vanilla equity ETF. The Cost Verdict card compares against the leveraged/inverse cohort where these costs are the norm.

### Are there cheaper alternatives to ULTY?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as ULTY (1.40%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/funds/ulty
- Distribution history: https://www.dividenddata.com/funds/ulty/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/ulty/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/ulty/expenses
- Peer comparison: https://www.dividenddata.com/funds/ulty/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.