At a glance
PLTY charges 1.07% a year. It has $303.1M in assets; it paid 70.41% of its price in distributions over the past 12 months, monthly. Over the past year it returned +6.3% with distributions reinvested.
The short version
YieldMax PLTR Option Income Strategy ETF (PLTY) is an actively managed fund. It uses options to follow the price of PLTR stock without owning the shares, and it holds mostly short-term US Treasury bills. It sells call options to earn income and aims to pay out weekly; its trailing yield was 70.41% as of October 27, 2026. The trade-offs are limited upside, full downside, a 1.07% expense ratio, and payouts that may partly return investors' own money.
Price history
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PLTY +6.3% 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 | |
|---|---|---|---|---|---|---|
| PLTY official prospectus, to Dec 31, 2025 | — | +79.52% | — | — | — | +127.97% |
| PLTY price data to Oct 27, 2026 | +14.2% | +6.3% | — | — | — | +72.4% |
- Over the year to Oct 27, 2026, PLTY returned +6.3%.
- Its worst full calendar year was 2025 (+78.6%); its best was 2025 (+78.6%).
- The deepest fall in its price history was 41% (Nov 3, 2025 to Jun 25, 2026), recovered by Oct 8, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +14.2% | — |
| 2025 | +78.6% | +79.52% |
| 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) | $17.7500 | |
| 2025 | $57.9500 |
What's inside
As of Jul 31, 2026, the fund held 5 securities; the ten largest made up 106.59% of assets.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 35.91% | |
| TREASURY BILL Bonds and notes | 21.64% | |
| TREASURY BILL Bonds and notes | 18.22% | |
| TREASURY BILL Bonds and notes | 16.07% | |
| TREASURY BILL Bonds and notes | 14.75% |
By country
United States 106.59%By issuer
US Treasury 106.59%The bonds mature in 0.2 years on average (weighted by size), with an average coupon of 0%.
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 $25.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +13.15%, -22.07%, +5.22%.
How it works
PLTY has no index. It is actively managed and never buys PLTR shares. Instead, it buys and sells a mix of call and put options on PLTR. An option is a contract to buy (call) or sell (put) a stock at a set price, called the strike price, by a set date. Together these options try to copy 100% of PLTR's price moves, both up and down. The fund uses standard exchange-traded options and FLEX options, which are also exchange-traded but let the fund set custom terms such as the strike price.
On top of that copied position, the fund sells call options. This is a "synthetic covered call": it works like a classic covered call, except the fund doesn't own the stock. Buyers pay the fund a premium for these calls, and the fund gives up gains above the strike price. Sometimes it uses a call spread instead, buying a higher-strike call so it can keep some of the gains above the sold call. Losses are not capped, and the fund will not switch to a defensive position in falling markets.
As of July 31, 2026, five Treasury bills made up about 106.6% of net assets, with an average maturity of 0.2 years. The fund also held 15 option positions worth a net -11.9%, plus 1.86% in cash. The fund aims to pay distributions weekly. Its share price typically drops by the amount of each payout, and payouts may include return of capital.
What it really costs
- PLTY charges 1.07% a year.
- 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 $109 in the first year and $1,306 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| PLTY | $109 | $340 | $590 | $1,306 |
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.
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
Its returns depend on a single volatile stock, its upside is limited, and its large payouts can wear down the share price over time.
PLTY launched on October 7, 2024, so it has no record from the 2008, 2020 or 2022 downturns. It has had one full calendar year: 2025, when it returned 79.52%. Its deepest drop was 41%, from November 3, 2025 to June 25, 2026. It recovered by October 8, 2026, about 3.4 months later. A retiree who sold shares near that low to cover spending would have locked in heavy losses. The trailing yield was 70.41% as of October 27, 2026. But the prospectus warns that payouts vary greatly, may be return of capital, and can erode the share price. Option income is usually taxed as ordinary income. Under the SEC's standard example, $10,000 invested costs about $109 in the first 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
- Investors who want large, frequent cash payouts linked to PLTR and accept that amounts vary and may partly be a return of their own capital.
- People using a small satellite slot who can live with 48.9% one-year volatility and a 41% drop like the one from November 2025 to June 2026.
- Investors who expect PLTR to rise modestly or move sideways, when selling calls may bring in premiums without giving up much gain.
Look elsewhere if
- Anyone seeking a diversified core holding, since the fund's results rest on one stock, PLTR, and it holds no other companies.
- Cost-focused investors: the 1.07% expense ratio works out to about $109 in the first year on $10,000 under the SEC example.
- Those wanting PLTR's full upside, voting rights, its dividends, or qualified-dividend tax treatment; option income is usually taxed as ordinary income.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
No close alternatives found.
Questions investors ask
Is PLTY good for retirement income?
PLTY pays large distributions, but it is a high-risk way to get income. Its trailing yield was 70.41% as of October 27, 2026. However, the prospectus warns that payouts vary greatly, may be return of capital, and can erode the share price over time. The fund fell 41% between November 2025 and June 2026, and it charges a 1.07% expense ratio. It may suit a small slice of a portfolio rather than a main source of income.
Does PLTY pay dividends weekly or monthly?
The prospectus says PLTY aims to pay distributions every week. It also says there's no guarantee of a payment in any given week, and amounts will likely vary greatly from one payout to the next. Over the 12 months to October 27, 2026, distributions totaled about $25.65 per share. Part of a payout may be return of capital, meaning investors get back some of their own money rather than earnings.
Is PLTY the same as owning PLTR stock?
No. PLTY never owns PLTR shares. It uses options to copy PLTR's price moves and holds Treasury bills as collateral. Because it sells call options, it gives up part of PLTR's gains in strong rallies but still takes the full losses when the stock falls. Fund holders get no PLTR dividends or voting rights. They also pay a 1.07% expense ratio, which owning the stock directly doesn't carry.
Why is PLTY's yield so high?
PLTY's yield comes mostly from premiums it collects by selling call options on PLTR, plus interest on its Treasury bills. Options on a volatile stock tend to pay higher premiums, and the fund's one-year volatility was 48.9% as of October 27, 2026. The 70.41% trailing yield is not all profit. The prospectus says a portion, sometimes a large one, may be return of capital, which lowers the fund's share price.
How has PLTY performed since launch?
PLTY returned 79.52% in 2025, its only full calendar year, according to its prospectus. From its October 2024 launch through December 31, 2025, its average annual return was 127.97%. Results then cooled. Based on price, it returned 6.3% over the year to October 27, 2026, and 14.2% year to date. Along the way it fell 41% before recovering in October 2026. Past results don't predict the future.