At a glance
BIGY charges 1.09% a year, above the 0.29% average of the 8 funds most like it (the most expensive of 9). It has $54.4M in assets, the 9th largest of that group; it paid 12.59% of its price in distributions over the past 12 months, monthly. Over the past year it returned +8.7% with distributions reinvested (S&P 500: +11.5%), 2nd of those 9 funds. Its ten largest positions make up 43.6% of the fund, out of 50 in all.
The short version
YieldMax Target 12 Big 50 Option Income ETF (BIGY) is an actively managed fund that owns about 50 large US companies, led by Apple, NVIDIA and Amazon, and sells options on them. It aims to pay out about 12% of its value a year, in monthly installments. It costs 1.09% a year, far above the 0.29% average for similar large-company funds. Part of each payout may be investors' own money handed back.
Price history
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BIGY +8.7% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BIGY price data to Oct 27, 2026 | +8.3% | +8.7% | — | — | — | +14.2% |
- Over the year to Oct 27, 2026, BIGY returned +8.7%, 2nd of 9 among similar funds.
- Its worst full calendar year was 2025 (+19.1%); its best was 2025 (+19.1%).
- The deepest fall in its price history was 18.9% (Feb 19, 2025 to Apr 8, 2025), recovered by Jun 25, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +8.3% |
| 2025 | +19.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $4.9200 | |
| 2025 | $6.5500 |
What's inside
As of Jul 31, 2026, the fund held 50 securities; the ten largest made up 43.63% of assets.
| Holding | Weight | |
|---|---|---|
| Apple Inc | 6.83% | |
| NVIDIA Corp | 6.20% | |
| Amazon.com Inc | 5.46% | |
| Alphabet Inc | 5.07% | |
| Microsoft Corp | 3.72% | |
| Advanced Micro Devices Inc | 3.66% | |
| Broadcom Inc | 3.41% | |
| JPMorgan Chase & Co | 3.35% | |
| Meta Platforms Inc | 3.19% | |
| Walmart Inc | 2.73% | |
| Texas Instruments Inc | 2.71% | |
| Caterpillar Inc | 2.43% | |
| General Electric Co | 2.33% | |
| Bank of America Corp | 2.29% | |
| Chevron Corp | 2.24% |
By country
United States 100.22%By asset type
Stocks 100.22%By sector
Sectors of the companies held, for the 96.3% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $28.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.42%, -2.35%, +0.14%.
How it works
BIGY is actively managed and follows no index. Its adviser picks about 50 large US companies whose options trade actively enough for the fund's strategy, also weighing share price and implied volatility, a gauge of expected price swings. Holdings are weighted mostly by company size, trimmed so the biggest names don't dominate, and rebalanced quarterly. As of July 31, 2026, the largest were Apple (6.8%), Nvidia (6.2%), Amazon (5.5%) and Alphabet (5.1%).
Much of the income comes from selling options. A call option gives its buyer the right to buy a stock at a set price, the strike. Each month the fund aims for net premiums (premiums received minus premiums paid) of about 1%. Its most common trade is a covered call spread: selling a call and buying another at a higher strike, which caps both profit and loss. Selling options can limit gains in rallies and may add to losses.
Those premiums support a target payout of about 12% of net asset value (NAV, its per-share value) a year, paid monthly. The target is not a guarantee, a yield or a total return. Payouts beyond what the fund earns lower NAV, which shrinks future payouts, and some may be return of capital: part of investors' own money handed back.
What it really costs
- BIGY charges 1.09% a year, versus an average of 0.29% for the similar funds below (9th of 9, cheapest first).
- Of that, 0.99% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $111 in the first year and $1,329 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BIGY | $111 | $347 | $601 | $1,329 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
In a retirement portfolio
BIGY is built to pay large monthly cash distributions from option premiums on big US stocks, not to grow as much as the stock market.
BIGY's main draw is cash flow. It paid $6.52 a share in the 12 months to October 27, 2026, a trailing yield of 12.59%, in monthly installments. Option income is usually taxed as ordinary income, not as qualified dividends, which are taxed at a lower rate. Some payouts may be return of capital, which lowers NAV. Under the SEC's standard example on $10,000, the 1.09% expense ratio adds up to about $111 in the first year and $1,329 over 10 years. The fund launched on November 20, 2024, so it has no record from the 2008, 2020 or 2022 downturns. Its deepest drop was 18.9%, from February 19 to April 8, 2025, and it recovered by June 25, 2025. In a longer slump, someone drawing income could be selling shares while payouts also shrink NAV. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Income seekers who want monthly payouts from big US stocks like Apple and NVIDIA. The trailing yield was 12.59% as of October 27, 2026.
- Investors willing to give up some gains in rallies in exchange for option income, because the fund's covered call spreads cap gains on each trade.
- Investors who can hold it in an IRA or similar tax-advantaged account, since option income is usually taxed as ordinary income.
Look elsewhere if
- Cost-conscious investors. At 1.09% a year, it ranks 9th of 9 among similar funds, which average 0.29%. XLG charges 0.20%.
- Anyone who wants a long track record. It launched in November 2024, missed the 2008, 2020 and 2022 downturns, and has one full calendar year.
- Investors who want to keep their principal intact or get full stock-market growth. Payouts above earnings shrink NAV, and the options limit gains.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| BIGY this fund | — | 1.09% | $54.4M | +8.7% | — |
| XLG Invesco S&P 500® Top 50 ETF · different strategy | 67% | 0.2% | $10.56B | +6.9% | +25.3% |
| OEF iShares S&P 100 ETF · different strategy | 63% | 0.2% | $20.04B | +8.3% | +23.3% |
| TOPT iShares Top 20 U.S. Stocks ETF · different strategy | 53% | 0.2% | $657.2M | +12.2% | — |
| SCHG Schwab U.S. Large-Cap Growth ETF · different strategy | 52% | 0.04% | $63.03B | +2.2% | +23.0% |
| IWY iShares Russell Top 200 Growth ETF · different strategy | 50% | 0.2% | $16.96B | -3.4% | +20.7% |
| TGRW T. Rowe Price Growth Stock ETF · different strategy | 49% | 0.52% | $1.03B | -0.6% | +21.4% |
| PGRO Putnam Focused Large Cap Growth ETF · different strategy | 47% | 0.56% | $212.1M | +3.1% | +24.6% |
Questions investors ask
Does BIGY pay monthly dividends?
Yes. BIGY pays distributions monthly. Over the 12 months to October 27, 2026, it paid $6.52 a share, a trailing yield of 12.59%. The prospectus says there is no assurance of a payout in any given month, and amounts will likely vary a lot from one payout to the next. Much of the money comes from option premiums, and a large share may be return of capital rather than dividends.
Is the BIGY 12% distribution guaranteed?
No. The "Annual 12% Target" is the adviser's goal, based on collecting about 1% a month in option premiums. The prospectus says it is not a guarantee, not a 12% yield and not a 12% total return. If the fund earns less than it pays out, the difference comes out of NAV. As NAV falls, future payouts in dollars can fall too.
What's the difference between BIGY and XLG?
XLG, the Invesco S&P 500 Top 50 ETF, holds the same kind of large US companies, and 67% of its holdings overlap with BIGY's. But XLG follows a different strategy: it tracks an index and does not sell options. XLG charges 0.20% a year, compared with BIGY's 1.09%. Over the year to October 27, 2026, XLG returned 6.9% and BIGY returned 8.7%. BIGY pays more income but gives up some gains in rallies.
What stocks does BIGY hold?
BIGY holds about 50 large US companies picked by its adviser. As of July 31, 2026, the largest were Apple (6.8%), NVIDIA (6.2%), Amazon (5.5%), Alphabet (5.1%) and Microsoft (3.7%), and the top 10 made up 43.6% of the fund. Technology was 33.9% of assets and financials 12.8%. The fund also held 156 option positions. Net assets were about $54.4 million.
Is BIGY good for retirement income?
BIGY may suit retirees who want large monthly payouts and accept the trade-offs. Its trailing yield was 12.59% as of October 27, 2026. The drawbacks: a 1.09% expense ratio, option income usually taxed as ordinary income, and payouts that can shrink NAV over time. It has a short record. Its deepest drop was 18.9% in early 2025, and it recovered in about 2.6 months.