YBIT Analysis
YieldMax BTC Option Income Strategy ETF — is the distribution income, or your own capital coming back?
NAV decline exceeded distributions
Over the last 1Y, YBIT distributed 59.3% of its price while NAV fell 65.6%. The decline was larger than everything paid out, so a holder across the full window is down on a total-return basis despite the distributions.
From here, YBIT would need a 191% price gain just to return to where it started the window — before any further distributions are counted.
This verdict is generated from fixed thresholds applied to live price and distribution data, not written per fund. Two funds with the same profile always get the same wording.
How YBIT generates income
YBIT is a YieldMax option income ETF that generates weekly distributions by selling call option spreads linked to Bitcoin's price performance. Rather than holding Bitcoin directly, the fund uses synthetic exposure through options and swaps, with U.S. Treasury securities as collateral.
The distributions come from the premiums collected when selling these call options. Bitcoin's characteristically high implied volatility means fatter option premiums, which is why crypto-linked YieldMax funds often have some of the highest distribution rates in the YieldMax lineup.
The trade-off is that your upside participation in Bitcoin's price gains is capped by the sold call strikes. You collect the premium income but miss out on explosive rallies above the strike price. The weekly distributions may include return-of-capital (ROC), which reduces your cost basis rather than being taxable income.
- Strategy
- Synthetic Bitcoin call option income
- Income source
- Call option spread premiums
- Distribution
- Weekly
- Expense ratio
- 0.99%
- Issuer
- YieldMax (Tidal Financial)
YBIT price return since first distribution
The capital half of total return. Read it against the cumulative distributions below — the two together are what a holder actually earned.
Cumulative price return: -80.91%
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Cumulative distributions collected
Running total of per-share distributions since the first payment on record — 60 payments.
Total collected per share since inception: $22.08
Go deeper on YBIT than this page can
This page answers one question well: did YBIT's distributions outrun its NAV. Koyfin answers the rest — options-implied volatility on BTC, holdings, correlation, and custom dashboards tracking your whole income sleeve. Our link gets you 20% off the first year.
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