At a glance
GPTY charges 1.06% a year, above the 0.62% average of the 7 funds most like it (the most expensive of 8). It has $101.7M in assets, the 8th largest of that group; it paid 15.29% of its price in distributions over the past 12 months, monthly. Its ten largest positions make up 52.0% of the fund, out of 26 in all.
The short version
YieldMax AI & Tech Portfolio Option Income ETF (GPTY) is an actively managed fund. It holds 15 to 30 US-listed AI and technology stocks, such as NVIDIA, Snowflake and Alphabet, and sells options on them each week to generate income. Its trailing 12-month yield was about 15.3% as of October 27, 2026. The trade-offs are a 1.06% expense ratio, compared with an average of 0.62% for similar AI funds, and limited gains in strong rallies.
Price history
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GPTY — 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 | |
|---|---|---|---|---|---|---|
| GPTY price data to Oct 27, 2026 | -0.3% | — | — | — | — | — |
- The deepest fall in its price history was 15.3% (Jun 18, 2026 to Jul 29, 2026), recovered by Sep 21, 2026.
| 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
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jul 31, 2026, the fund held 26 securities; the ten largest made up 51.96% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 6.66% | |
| Snowflake Inc | 6.55% | |
| Alphabet Inc | 6.20% | |
| Amazon.com Inc | 4.90% | |
| Microsoft Corp | 4.88% | |
| Apple Inc | 4.80% | |
| IBM | 4.70% | |
| Advanced Micro Devices Inc | 4.59% | |
| Broadcom Inc | 4.41% | |
| Hut 8 Corp | 4.27% | |
| Intel Corp | 4.23% | |
| Meta Platforms Inc | 4.10% | |
| Arista Networks Inc | 3.89% | |
| Palantir Technologies Inc | 3.80% | |
| Marvell Technology Inc | 3.58% |
By country
United States 98.04%Taiwan 3.16%By asset type
Stocks 98.29%Bonds and notes 2.91%By sector
Sectors of the companies held, for the 80.4% 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 $18.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +17.01%, -2.71%, -7.91%.
How it works
GPTY is actively managed and follows no index. Its adviser picks 15 to 30 US-listed stocks of companies earning at least half their revenue from fields such as AI software, cloud infrastructure and AI semiconductors. It favors stocks whose shares and options trade heavily, and weighs implied volatility (expected price swings) when adding or dropping names. As of July 31, 2026, NVIDIA (6.7%), Snowflake (6.5%) and Alphabet (6.2%) led its 26 holdings.
Each week, the fund sells options on some or all of its stocks to collect premiums. Its main trade is a covered call spread: it sells a call option (the right to buy a stock at a set strike price) and buys another at a higher strike. The sold call gives up gains above its strike; the bought call restores gains past the higher one. If a stock's options are too thin or costly, the fund may use options on a passive AI and technology ETF.
Up to 10% of assets sits in cash or short-term Treasuries that back the options and earn interest. The fund targets weekly payouts, which vary widely and may include a large share of return of capital (investors' own money handed back). Each payout typically cuts the share price by its amount, which can erode value.
What it really costs
- GPTY charges 1.06% a year, versus an average of 0.62% for the similar funds below (8th of 8, 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 $108 in the first year and $1,294 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GPTY | $108 | $337 | $585 | $1,294 |
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
Its concentrated AI stock portfolio, high cost and short history make it a small add-on for income rather than the foundation of a portfolio.
GPTY launched on January 22, 2025. It has no record in the 2008, 2020 or 2022 sell-offs and no full calendar-year returns. The price history reviewed here begins June 9, 2026. In that window, its deepest drop was 15.3%, from June 18 to July 29, 2026. It recovered by September 21, about 1.8 months later. Its beta, a measure of how much it swings compared with the market, was 1.89 as of October 27, 2026. That is close to twice the market's moves.
The draw is income: a trailing 12-month yield of about 15.3% as of October 27, 2026, with weekly payouts targeted. But the amounts vary and may include return of capital. A retiree drawing cash in a bad year could see payouts and the share price fall together. In the SEC's $10,000 example, costs total $108 after one year. 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 weekly cash payouts from AI stocks such as NVIDIA and Microsoft and can accept that the amounts vary widely.
- Investors who want a small, higher-risk position alongside broad core funds, given its 26-stock, tech-heavy portfolio.
- People who can hold it in a tax-advantaged account, since option income is usually taxed as ordinary income.
Look elsewhere if
- Cost-conscious investors: its 1.06% expense ratio compares with 0.45% for WisdomTree's WTAI and 0.68% for Global X's AIQ.
- Anyone seeking the full upside of AI stocks, since covered call spreads give up part of the gains in sharp rallies.
- Those who want a long track record: it launched in January 2025 and has no full calendar-year returns or bear-market history.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| GPTY this fund | — | 1.06% | $101.7M | — | — |
| AIQ Global X Artificial Intelligence & Technolo… · different strategy | 48% | 0.68% | $10.17B | +20.0% | +35.5% |
| CHAT Roundhill Generative AI & Technology ETF · different strategy | 38% | 0.75% | $1.78B | +24.9% | +48.7% |
| AIEQ Amplify AI Powered Equity ETF · different strategy | 35% | 0.75% | $122.7M | +6.6% | +20.7% |
| WTAI WisdomTree Artificial Intelligence and Inno… · different strategy | 33% | 0.45% | $669.5M | +24.9% | +35.1% |
| IGPT Invesco AI and Next Gen Software ETF · different strategy | 33% | 0.58% | $1.11B | +49.3% | +43.8% |
| ARTY iShares Future AI & Tech ETF · different strategy | 32% | 0.47% | $3.93B | +43.4% | — |
| THNQ ROBO Global Artificial Intelligence ETF · different strategy | 23% | 0.68% | $416.1M | +34.4% | +42.4% |
Questions investors ask
Does GPTY pay weekly or monthly dividends?
GPTY aims to pay weekly, according to its prospectus. There is no guarantee of a payout in any given week, and amounts can vary widely. Over the 12 months to October 27, 2026, it paid about $6.03 per share, a trailing yield of roughly 15.3%. Most of that comes from option premiums rather than stock dividends, and part of it may be return of capital.
Is GPTY good for retirement income?
GPTY pays a large income, but retirees may want to weigh the trade-offs carefully. Its yield was about 15.3% as of October 27, 2026. However, the fund is concentrated in 26 AI and tech stocks, its payouts vary, and repeated distributions can wear down the share price. Its expense ratio is 1.06%. It launched in January 2025, so it has no record through a major bear market.
What's the difference between GPTY and AIQ?
The biggest difference is option income. Global X's AIQ follows a different strategy and does not use GPTY's weekly covered call spreads. About 48% of their holdings overlap. AIQ is much larger: about $10.2 billion in net assets as of August 31, 2026, compared with $101.7 million for GPTY as of July 31, 2026. AIQ is also cheaper, at 0.68% versus 1.06%. AIQ returned 20% in the year to October 27, 2026. GPTY has no one-year figure yet.
What stocks does GPTY hold?
GPTY held 26 AI and technology companies as of July 31, 2026, along with options on many of them. The largest were NVIDIA (6.7%), Snowflake (6.5%), Alphabet (6.2%), Amazon (4.9%) and Microsoft (4.9%). Together, the top 10 made up about 52% of the fund. It also held smaller names such as Hut 8 (4.3%) and Palantir (3.8%), plus about 2.9% in US Treasuries that back its options positions.
How are GPTY distributions taxed?
Much of GPTY's income is usually taxed as ordinary income, not at the lower rates for qualified dividends, because it comes mainly from selling options. The prospectus also warns that distributions may include a significant portion of return of capital. Return of capital generally isn't taxed when it is paid, but it lowers your cost basis, which can raise your taxable gain when you sell shares later. Holding the fund in an IRA changes this, and a tax professional can help.