YMAG Dividend Calculator

About YMAG

YMAG — the YieldMax Magnificent 7 Fund of Option Income ETFs — is a fund-of-funds wrapper that holds the seven YieldMax single-name option-income ETFs covering the "Magnificent 7" mega-cap technology basket: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla. Launched in March 2024, YMAG does not run its own options strategy. It does not write calls on any underlying stock, hold a synthetic long-short structure, or harvest premium directly. Instead, it owns equal-weight positions in the seven sleeves — AAPY, MSFO, GOOY, AMZY, NVDY, FBY, and TSLY — and passes through the distributions those underlying funds generate as a single weekly distribution to YMAG shareholders.

The diversification story is the main reason YMAG exists, narrower in scope than its sibling YMAX. Where YMAX holds the full YieldMax catalog at equal weights — fifteen-to-twenty single-name sleeves spanning mega-cap tech, single-stock leveraged ETFs, crypto-adjacent equities, and other high-volatility names — YMAG concentrates only on the seven Magnificent-7-related sleeves. The pitch is exposure to the option-income strategy applied specifically to the mega-cap technology equity complex, in a single ticker, with weekly distributions and built-in rebalancing toward equal weight across the seven names. For investors who want option-income exposure but only on the names that dominate the S&P 500's largest weights, YMAG is the narrower wrapper; YMAX is the broader one.

The cost of that diversification is a layered expense ratio. YMAG charges its own management fee, and the seven underlying YieldMax ETFs each charge their own fees on top of that — typically in the 0.99% range per sleeve. The total expense load borne by a YMAG shareholder is therefore the YMAG fee plus the weighted average fee of the seven underlying funds, which is meaningfully higher than holding any single YieldMax product directly. Investors who want exposure to the same set of strategies and are willing to manage the rebalancing themselves can replicate the basket at lower total cost by buying the seven underlying sleeves in their own brokerage account. YMAG's value proposition is the operational simplicity of a single ticker, weekly cadence, and built-in rebalancing — not lower fees.

On aggregate, YMAG carries the same NAV-erosion exposure as the underlyings it holds. The fund-of-funds structure smooths the variance of any single sleeve's NAV trend but does not eliminate the systemic property that synthetic covered-call ETFs lose NAV during large underlying rallies. The Magnificent 7 basket has experienced multiple explosive rally episodes since the fund's launch — Nvidia in particular has produced repeated double-digit single-session moves on earnings, and Tesla and Meta have run their own multi-week rallies during the same window. Each large upside move erodes a portion of the relevant sleeve's NAV, which flows through to YMAG's aggregate NAV at the sleeve's equal-weight share. The diversification reduces idiosyncratic risk relative to holding one sleeve outright; it does not change the structural payoff profile of the underlying YieldMax strategy.

How YMAG pays distributions

YMAG distributes weekly — fifty-two payments per calendar year. The ex-dividend date typically falls on a Tuesday or Wednesday and the pay date follows on the Thursday of the same week. This weekly cadence is the wrapper's own reformatting of the underlying flows: the seven YieldMax single-name ETFs distribute on their own schedules (some monthly, some moved to weekly during 2024), and the cash YMAG receives from its holdings arrives in irregular bursts across those staggered ex-dates. YMAG smooths those inbound flows into a regular weekly outbound stream, drawing on accumulated cash and recently received distributions to fund each Thursday's payment.

Because YMAG launched in March 2024, the fund has only a relatively short history of distribution data available. The trailing yield computed on the recent twelve months reflects a fund still finding its operational rhythm and a Magnificent-7 basket whose own volatility profile shifted meaningfully through 2024 and 2025. Investors planning around the headline yield should weight the most recent quarters more heavily than a simple trailing average that includes the fund's earliest months. The Recent dividends table on the calculator page shows the actual per-share weekly amounts; reviewing them is the cleanest way to develop a sense of the realistic distribution range.

Most of YMAG's distributions are classified as return of capital (ROC), inheriting the tax treatment of the seven underlying YieldMax funds. ROC means the distribution is not taxed as income in the year received; instead, it reduces the shareholder's cost basis. A lower cost basis defers the tax liability until the shares are sold, at which point the gain is measured against the reduced basis and taxed at capital-gains rates. For investors in high marginal tax brackets, ROC treatment is more favorable than ordinary income, but it is not tax-free — it shifts the obligation forward. Tax-advantaged accounts sidestep the basis question entirely. In an IRA, Roth IRA, or 401(k), distributions reinvest without current tax consequences regardless of classification, which is why high-yield option-income wrappers like YMAG are frequently held inside tax-advantaged sleeves.

Who YMAG suits

YMAG suits income investors who want exposure to the YieldMax option-income strategy specifically on the Magnificent 7 mega-cap technology basket, without picking individual single-name sleeves and without managing the rebalancing themselves. It is, in effect, a one-ticker proxy for the Mag-7 slice of the YieldMax catalog. A holder who would otherwise need to research, buy, and periodically rebalance seven separate ETFs (AAPY, MSFO, GOOY, AMZY, NVDY, FBY, TSLY) can substitute YMAG and get an approximately equal-weight exposure with a weekly distribution cadence built in. For investors whose conviction is in mega-cap tech volatility specifically — rather than in the broader YieldMax catalog or in a single Mag-7 name — that focused operational simplicity is the core appeal.

The fit profile assumes the investor has accepted the layered fee structure and the NAV-erosion exposure. Total annual costs on YMAG run materially higher than holding any single underlying sleeve, because the YMAG fee stacks on top of the weighted average fee of the seven holdings. An investor with the time and discipline to buy and rebalance the seven sleeves directly can capture nearly the same exposure at a lower total expense ratio. YMAG is the convenience layer; the convenience is not free, and on a multi-year compounding horizon the fee drag compounds against the investor.

YMAG is explicitly not a buy-and-forget holding for stable income. The fund inherits the NAV-erosion property of its seven underlyings on aggregate. The diversification across the Magnificent 7 smooths the path — a large drawdown in any single sleeve affects only that sleeve's slice of YMAG — but the long-term direction of the basket's NAV tracks the weighted average of the sleeves, which has trended down since YMAG's launch as the underlying mega-cap rally episodes capped each sleeve's NAV in turn. A high headline yield on a slowly eroding NAV is a recurring pattern in this fund family, and YMAG is not exempt from it. Investors should track total return (income plus or minus price change) alongside the distribution line, not yield in isolation.

YMAG launched in March 2024, which means there is approximately fourteen months of history at the time of this writing and no five-year dividend growth rate by definition — the fund has not existed for five full calendar years. Any projection using a non-zero DGR is an assumption, not a historical extrapolation. Investors who want broader, lower-yield covered-call exposure with a longer track record may prefer JEPI or JEPQ; investors who want the full YieldMax catalog rather than the Mag-7 subset may prefer YMAX. YMAG occupies a specific niche: diversified YieldMax exposure to the seven Magnificent 7 names in a single weekly-paying ticker, at a layered cost. Use the calculator above to model multiple scenarios, and review the scenarios page for guidance on base-case, flat, and shrinking-distribution assumptions.