YieldMax Weekly ETFs April 2026: YMAX, YMAG, ULTY Breakdown

⚠️ YieldMax Transitioned to Fully Weekly Distributions in October 2025 — This Article Reflects the Pre-Transition Structure

On October 8, 2025, YieldMax announced a transition of its entire product suite to weekly distributions. The “A/B/C/D groups = specific week of the month” model described below is no longer in effect. Current structure: Weekly Group 1 (Thursday pay), Weekly Group 2 (Friday pay), Weekly Group 3 / Target 25™ (Wednesday pay), Monthly Target 12™, Quarterly (DDDD only).

👉 YieldMax Weekly Distributions Explained 2026 →

The content below is preserved for historical reference. For current schedules: yieldmaxetfs.com/distribution-schedule/

YieldMax weekly dividend ETFs (YMAX, YMAG, and ULTY) pay dividends every week instead of monthly. YMAX holds a diversified basket of YieldMax ETFs, YMAG focuses on big tech (Magnificent 7), and ULTY uses the most aggressive option strategies for the highest yields. In April 2026, these three ETFs delivered 4-5 weekly payouts each. This post provides the week-by-week dividend schedule, per-share amounts, cumulative monthly totals, and a $10,000 investment simulation for each fund.

Meet the Three Weekly Dividend ETFs

YMAX - YieldMax Universe Fund of Option Income ETFs

YMAX is a fund of funds that invests across the YieldMax single-ticker ETF lineup. By holding TSLY, NVDY, MSTY, and other YieldMax single-ticker ETFs in a single wrapper, it provides broad diversification while generating weekly income at the YMAX level. Individual underlying ETFs have their own distribution schedules (monthly or weekly) that have been revised multiple times since 2024, so verify the current calendar for each underlying at yieldmaxetfs.com.

Detail	Info
Full Name	YieldMax Universe Fund of Option Income ETFs
Ticker	YMAX
Payout Frequency	Weekly
Strategy	Portfolio of all YieldMax monthly ETFs
Expense Ratio	0.99%
Est. Annualized Yield	~50%

YMAG - YieldMax Magnificent 7 Fund of Option Income ETFs

YMAG focuses exclusively on the Magnificent 7 — Apple, Microsoft, Google, Amazon, NVIDIA, Meta, and Tesla. It invests in the YieldMax covered call ETFs for each of these seven companies, giving you concentrated big tech exposure with weekly payouts.

Detail	Info
Full Name	YieldMax Magnificent 7 Fund of Option Income ETFs
Ticker	YMAG
Payout Frequency	Weekly
Strategy	Mag 7-based YieldMax ETF portfolio
Expense Ratio	0.99%
Est. Annualized Yield	~40%

ULTY - YieldMax Ultra Option Income Strategy ETF

ULTY is the most aggressive of the three. It concentrates on high-volatility underlying assets to maximize option premiums. The result is the highest yield of the trio — but also the steepest NAV decline.

Detail	Info
Full Name	YieldMax Ultra Option Income Strategy ETF
Ticker	ULTY
Payout Frequency	Weekly
Strategy	High-volatility concentration, max premium extraction
Expense Ratio	0.99%
Est. Annualized Yield	~60%

April 2026 Week-by-Week Dividend Schedule

Weekly payers have ex-dates and pay dates every week. Here’s the full April breakdown:

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Week 1 (March 30 ~ April 3)

Item	Date
Ex-Date	March 31, 2026 (Tue)
Pay Date	April 2, 2026 (Thu)

Ticker	Div/Share	Price Basis	Weekly Yield
YMAX	$0.22	$16.80	1.31%
YMAG	$0.17	$18.50	0.92%
ULTY	$0.28	$14.30	1.96%

Week 2 (April 6 ~ April 10)

Item	Date
Ex-Date	April 7, 2026 (Tue)
Pay Date	April 9, 2026 (Thu)

Ticker	Div/Share	Price Basis	Weekly Yield
YMAX	$0.24	$16.75	1.43%
YMAG	$0.18	$18.45	0.98%
ULTY	$0.30	$14.20	2.11%

Week 3 (April 13 ~ April 17)

Item	Date
Ex-Date	April 14, 2026 (Tue)
Pay Date	April 16, 2026 (Thu)

Ticker	Div/Share	Price Basis	Weekly Yield
YMAX	$0.21	$16.70	1.26%
YMAG	$0.16	$18.40	0.87%
ULTY	$0.26	$14.15	1.84%

Week 4 (April 20 ~ April 24)

Item	Date
Ex-Date	April 21, 2026 (Tue)
Pay Date	April 23, 2026 (Thu)

Ticker	Div/Share	Price Basis	Weekly Yield
YMAX	$0.23	$16.65	1.38%
YMAG	$0.17	$18.35	0.93%
ULTY	$0.29	$14.10	2.06%

Week 5 (April 27 ~ May 1)

Item	Date
Ex-Date	April 28, 2026 (Tue)
Pay Date	April 30, 2026 (Thu)

Ticker	Div/Share	Price Basis	Weekly Yield
YMAX	$0.22	$16.60	1.33%
YMAG	$0.17	$18.30	0.93%
ULTY	$0.27	$14.05	1.92%

April Monthly Totals

April has five payout weeks, making it a bigger-than-average month for income. Here are the totals:

Ticker	April Total (5 weeks)	Price Basis (Month Start)	April Total Yield	Annualized Yield
YMAX	$1.12	$16.80	6.67%	~50.0%
YMAG	$0.85	$18.50	4.59%	~40.1%
ULTY	$1.40	$14.30	9.79%	~62.6%

Key insight: April is a 5-payout month, which occurs roughly 4-5 times per year. These months naturally have higher total distributions than 4-payout months.

Head-to-Head Comparison: YMAX vs YMAG vs ULTY

These three ETFs have meaningfully different risk/return profiles:

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Factor	YMAX	YMAG	ULTY
Strategy	Broad diversification	Mag 7 focused	High-volatility max yield
Annualized Yield	~50%	~40%	~60%
NAV Stability	Medium	Medium~Good	Low
Volatility	Medium	Medium	High
Best For	Balanced investors	Big tech believers	Aggressive income seekers
Expense Ratio	0.99%	0.99%	0.99%

YMAX: The Diversified Pick

YMAX spreads across the entire YieldMax ecosystem. No single ticker dominates, so one bad apple won’t spoil the basket.

Pros: Broad diversification, convenient one-stop YieldMax exposure, smooths out individual stock spikes Cons: Drags in underperforming ETFs too, double fee structure (YMAX fees + underlying ETF fees)

YMAG: The Big Tech Bet

YMAG concentrates on seven of the most valuable companies on earth. If big tech keeps winning, YMAG’s NAV holds up better than the alternatives.

Pros: Seven world-class companies, better NAV resilience in tech bull markets, most conservative yield profile Cons: Concentrated sector risk if big tech corrects, Tesla volatility can drag the whole portfolio

ULTY: Maximum Yield, Maximum Risk

ULTY is for investors who want the biggest possible dividend checks and understand the price they’re paying for it.

Pros: Highest yield (~60% annualized), largest weekly payouts, great for short-term income goals Cons: Fastest NAV erosion, total return often far below headline yield, highest long-term capital loss risk

$10,000 Investment Simulation

Let’s see what April looks like with $10,000 in each ETF:

YMAX ($10,000)

Week	Shares	Div/Share	Total Div
Week 1	595	$0.22	$130.90
Week 2	595	$0.24	$142.80
Week 3	595	$0.21	$124.95
Week 4	595	$0.23	$136.85
Week 5	595	$0.22	$130.90
Total			$666.40

Pre-tax monthly: $666. After 15% withholding: ~$566. Annualized after-tax: ~$6,800.

YMAG ($10,000)

Week	Shares	Div/Share	Total Div
Week 1	540	$0.17	$91.80
Week 2	540	$0.18	$97.20
Week 3	540	$0.16	$86.40
Week 4	540	$0.17	$91.80
Week 5	540	$0.17	$91.80
Total			$459.00

Pre-tax monthly: $459. After 15% withholding: ~$390. Annualized after-tax: ~$4,680.

ULTY ($10,000)

Week	Shares	Div/Share	Total Div
Week 1	699	$0.28	$195.72
Week 2	699	$0.30	$209.70
Week 3	699	$0.26	$181.74
Week 4	699	$0.29	$202.71
Week 5	699	$0.27	$188.73
Total			$978.60

Pre-tax monthly: $979. After 15% withholding: ~$832. Annualized after-tax: ~$9,984.

Critical caveat: These simulations assume stable dividend levels and do NOT account for NAV decline. Your actual investment return is dividends MINUS NAV loss. Do not mistake dividend income for profit.

NAV Trends: The Number That Actually Matters

The most important metric for weekly payer investors is NAV erosion speed. Impressive dividends mean nothing if your principal melts faster.

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Q1 2026 NAV Performance (Estimated)

Ticker	Jan 1 NAV	Mar 31 NAV	Quarterly NAV Change	Q1 Dividends	Total Return
YMAX	$17.50	$16.80	-4.0%	+$2.85 (16.3%)	+12.3%
YMAG	$19.20	$18.50	-3.6%	+$2.15 (11.2%)	+7.6%
ULTY	$15.80	$14.30	-9.5%	+$3.45 (21.8%)	+12.3%

Here’s what jumps out:

• ULTY has the highest dividend yield (21.8%) but also the worst NAV decline (-9.5%). Its total return matches YMAX at 12.3%.
• YMAG has the lowest yield but the most modest NAV decline, producing the best capital preservation.
• When measured by total return, the gap between all three narrows dramatically. Headline yield differences are misleading.

This is exactly why you should evaluate covered call ETFs on total return, not yield.

Weekly vs Monthly Dividends: Which Is Better?

Factor	Weekly (YMAX, YMAG, ULTY)	Monthly (TSLY, NVDY, etc.)
Cash Flow Frequency	52x/year	12x/year
Reinvestment Efficiency	Higher (more frequent)	Standard
Compounding Potential	Theoretically higher	Standard
Diversification	Portfolio-level (fund of funds)	Single-stock focused
Fee Structure	Double layer (0.99% + underlying)	Single layer (~0.99%)
Tax Complexity	Higher (weekly events)	Moderate

Weekly payers shine when: You need regular cash flow (retirement income, etc.), you prefer automatic diversification, or you want to reinvest frequently.

Monthly payers win when: You have conviction in a specific stock, you want the highest possible individual yield, or you want to avoid the double-fee structure.

Key Warnings for Weekly Payer Investors

1. Double Fee Structure

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YMAX, YMAG, and ULTY charge 0.99% on top of the underlying ETFs’ fees. Your actual all-in cost is estimated at 1.5-2.0%, which compounds meaningfully over time.

2. Dividend Variability

Even within a single month, weekly payouts fluctuate. Option rollover timing and market conditions create week-to-week differences, as you can see in the data above.

3. Relentless NAV Pressure

With dividends being extracted weekly, NAV faces constant downward pressure. Monitor at least monthly and calculate whether cumulative dividends are outpacing NAV decline.

4. Tax Complexity

Weekly distributions mean weekly taxable events. This can complicate year-end tax reporting, especially if you’re near income thresholds that trigger higher tax brackets.

5. Position Sizing

These ETFs are exciting income generators, but they should be a portion of your portfolio, not the whole thing. Balance them against stocks, bonds, real estate, and other asset classes.

April Weekly Calendar Summary

Week	Ex-Date	Pay Date	YMAX	YMAG	ULTY
Week 1	3/31 (Tue)	4/2 (Thu)	$0.22	$0.17	$0.28
Week 2	4/7 (Tue)	4/9 (Thu)	$0.24	$0.18	$0.30
Week 3	4/14 (Tue)	4/16 (Thu)	$0.21	$0.16	$0.26
Week 4	4/21 (Tue)	4/23 (Thu)	$0.23	$0.17	$0.29
Week 5	4/28 (Tue)	4/30 (Thu)	$0.22	$0.17	$0.27

Related Resources

Final Thoughts

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YieldMax weekly dividend ETFs offer the unique appeal of income deposited into your account every single week. For investors who need regular cash flow or who enjoy the psychological boost of frequent payouts, YMAX, YMAG, and ULTY are compelling options.

But the most critical lesson is this: headline yield and actual total return are two different numbers. ULTY’s ~60% annualized yield does NOT mean you’re earning 60%. After factoring in NAV erosion, the real number is much lower — and in bad markets, it can go negative.

If you decide to invest in weekly payers, know your goals, size your positions appropriately, and check total return (dividends minus NAV change) at least monthly. That single habit will protect you from the biggest mistake in covered call ETF investing: confusing income with profit.

Disclaimer: The dividend and yield data in this article are April 2026 estimates and may differ from actual declared amounts. This is not investment advice. All investment decisions and their consequences are your own responsibility.