Compare/Updated Oct 26, 2026, refreshed every trading day
YMAX vs ULTY
YieldMax Universe Fund of Option Income ETFs against YieldMax Ultra Option Income Strategy ETF: 3 years of returns, risk and today’s technical read, from Kavout’s own data.
YMAX did better over the 666 trading days from Feb. 29, 2024, to Oct. 23, 2026: $1,000 grew to $1,246 (+24.6%), while ULTY fell to $952 (-4.8%). YMAX also led over one, three, and six months, and year to date, although ULTY had lower 12-month volatility (22.4% versus 25.0%). The risk trade-off was meaningful: ULTY’s worst drawdown was deeper at -29.3%, compared with -26.3% for YMAX. YMAX’s expense ratio was also lower at 1.28% versus 1.40%, while ULTY had larger fund assets ($1B versus $0B). The funds were highly correlated, with daily-move correlation of 0.817 over the period and 0.825 over the last 12 months, but YMAX moved only 0.72% for each 1% move in ULTY. YMAX outperformed in 19 of the last 32 months.
- Price is above its 200-day average ($7); 50-day at $7.
- RSI 43, neutral. Supertrend says sell. ADX 18, so the trend is weak.
- Price is below its 200-day average ($23); 50-day at $24.
- RSI 30, oversold. Supertrend says sell. ADX 27, so the trend is strong.
Head to head
Which has returned more, YMAX or ULTY?
YMAX beat ULTY in 19 of the last 32 months; ULTY won the other 13. The typical monthly gap was 1.72 points.
Total return by period
Which is riskier?
YMAX: Dec 6, 2024 to Apr 8, 2025; ULTY: Mar 4, 2024 to Apr 8, 2025
- 0.817
- correlation of daily moves, 3 years
- 0.72
- YMAX move per 1% in ULTY
- 0.825
- correlation, last 12 months
Month by month
Of the last 32 months. The typical gap was 1.72 points.
When did they diverge?
| Month | YMAX | ULTY | Gap |
|---|---|---|---|
| July 2024 | -0.2% | -8.3% | +8.10 pts |
| April 2024 | -5.2% | -12.9% | +7.69 pts |
| February 2026 | -4.4% | +2.6% | -7.01 pts |
| November 2025 | -7.5% | -13.6% | +6.15 pts |
Where the numbers come from. 666 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
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