- ISIN
- US88636R3050
- CUSIP
- 88636R305
- Issuer
- YieldMax
- Inception Date
- Jul 14, 2025
- Region
- North America (United States)
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Assets Under Management
- $5M
Share Price Chart
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Performance
DRAY Performance Chart
YieldMax DKNG Option Income Strategy ETF (DRAY) is down 26.4% since the beginning of the year. DRAY is currently trading at $17 per share.
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Returns By Period
YieldMax DKNG Option Income Strategy ETF
- 1D
- 0.47%
- 1M
- 3.54%
- YTD
- -26.40%
- 6M
- -25.41%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
DRAY Monthly Returns History
Based on dividend-adjusted daily data since Jul 15, 2025, DRAY's average daily return is -0.19%, while the average monthly return is -3.56%.
Historically, 58% of months were positive and 42% were negative. The best month was Apr 2026 with a return of +12.3%, while the worst month was Sep 2025 at -20.2%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 3 months.
On a daily basis, DRAY closed higher 52% of trading days. The best single day was Jun 9, 2026 with a return of +8.5%, while the worst single day was Feb 13, 2026 at -11.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -18.81% | -12.20% | -15.90% | 12.27% | 4.09% | 5.07% | -26.40% | ||||||
| 2025 | 3.09% | 7.25% | -20.16% | -16.66% | 6.69% | 2.58% | -19.48% |
Benchmark Metrics
YieldMax DKNG Option Income Strategy ETF has an annualized alpha of -44.74%, beta of 0.64, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since July 15, 2025.
- This ETF participated in 225.38% of S&P 500 Index downside but only -78.00% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.64 may look defensive, but with R2 of 0.04 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.04 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -44.74%
- Beta
- 0.64
- R²
- 0.04
- Upside Capture
- -78.00%
- Downside Capture
- 225.38%
Expense Ratio
DRAY has a high expense ratio of 0.99%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for YieldMax DKNG Option Income Strategy ETF (DRAY) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DRAY | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.35 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.66 | — |
| Martin ratioReturn relative to average drawdown | — | 11.86 | — |
Dividends
Dividend History
YieldMax DKNG Option Income Strategy ETF provided a 92.22% dividend yield over the last twelve months, with an annual payout of $15.82 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $15.82 | $10.09 |
Dividend yield | 92.22% | 32.48% |
Monthly Dividends
The table displays the monthly dividend distributions for YieldMax DKNG Option Income Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $1.27 | $0.94 | $0.90 | $0.79 | $1.13 | $0.70 | $5.73 | ||||||
| 2025 | $2.19 | $1.57 | $2.57 | $1.93 | $1.83 | $10.09 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the YieldMax DKNG Option Income Strategy ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the YieldMax DKNG Option Income Strategy ETF was 57.87%, occurring on Mar 27, 2026. The portfolio has not yet recovered.
The current YieldMax DKNG Option Income Strategy ETF drawdown is 46.57%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -57.87%Mar 2026 | 7mo | — | 9mo 27dAug 2025 - now |
2025 pullback2025 | -5.03%Aug 2025 | 3d | 7d | 10dAug 2025 - Aug 2025 |
2025 pullback2025 | -3.03%Aug 2025 | 1d | 6d | 7dJul 2025 - Aug 2025 |
2025 pullback2025 | -2.27%Jul 2025 | 1d | 1d | 2dJul 2025 - Jul 2025 |
2025 pullback2025 | -1.29%Aug 2025 | 0s | 1d | 1dAug 2025 - Aug 2025 |
Drawdown Indicators
| DRAY | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.87% | -56.78% | -1.09% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -46.57% | -2.49% | -44.08% |
Average DrawdownAverage peak-to-trough decline | -31.84% | -10.72% | -21.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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