- Issuer
- Tidal
- Inception Date
- Sep 12, 2023
- Category
- Options Trading
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $39M
Share Price Chart
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Performance
JPO Performance Chart
YieldMax JPM Option Income Strategy ETF (JPO) is up 2.7% since the beginning of the year. JPO is currently trading at $14 per share.
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Returns By Period
YieldMax JPM Option Income Strategy ETF (JPO) has returned 2.68% so far this year and 17.30% over the past 12 months.
YieldMax JPM Option Income Strategy ETF
- 1D
- 1.96%
- 1M
- 6.38%
- YTD
- 2.68%
- 6M
- 2.70%
- 1Y
- 17.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.15%
- 1Y
- 24.03%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
JPO Monthly Returns History
Based on dividend-adjusted daily data since Sep 12, 2023, JPO's average daily return is +0.07%, while the average monthly return is +1.30%. At this rate, an investment would double in approximately 4.5 years.
Historically, 56% of months were positive and 44% were negative. The best month was Jan 2025 with a return of +9.8%, while the worst month was Mar 2025 at -8.2%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, JPO closed higher 60% of trading days. The best single day was Nov 6, 2024 with a return of +6.0%, while the worst single day was Apr 4, 2025 at -8.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.91% | -1.98% | -1.22% | 7.25% | -3.77% | 8.08% | 2.68% | ||||||
| 2025 | 9.82% | -1.75% | -8.20% | -1.22% | 6.18% | 7.73% | 1.66% | 2.14% | 3.92% | -0.75% | -0.10% | 2.11% | 22.26% |
| 2024 | 2.70% | 5.67% | 5.42% | -5.91% | 3.07% | -0.88% | 1.09% | 1.86% | -4.97% | 3.24% | 6.52% | -3.70% | 13.97% |
| 2023 | -0.11% | -4.89% | 5.07% | 5.08% | 4.90% |
Benchmark Metrics
YieldMax JPM Option Income Strategy ETF has an annualized alpha of 2.62%, beta of 0.71, and R2 of 0.32 versus S&P 500 Index. Calculated based on daily prices since September 12, 2023.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (65.84%) than losses (58.99%) - typical of diversified or defensive assets.
- R2 of 0.32 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 2.62%
- Beta
- 0.71
- R²
- 0.32
- Upside Capture
- 65.84%
- Downside Capture
- 58.99%
Expense Ratio
JPO has a high expense ratio of 1.19%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
JPO ranks 25 for risk / return — below 25% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for YieldMax JPM Option Income Strategy ETF (JPO) 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.
| JPO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.37 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 2.78 | -1.56 |
| Martin ratioReturn relative to average drawdown | 3.01 | 12.44 | -9.43 |
Dividends
Dividend History
YieldMax JPM Option Income Strategy ETF provided a 32.05% dividend yield over the last twelve months, with an annual payout of $4.58 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $4.58 | $5.46 | $4.56 | $0.97 |
Dividend yield | 32.05% | 34.13% | 25.15% | 4.84% |
Monthly Dividends
The table displays the monthly dividend distributions for YieldMax JPM 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 | $0.33 | $0.27 | $0.28 | $0.62 | $0.30 | $0.22 | $2.01 | ||||||
| 2025 | $0.99 | $0.30 | $0.37 | $0.56 | $0.39 | $0.28 | $0.51 | $0.28 | $0.27 | $0.70 | $0.41 | $0.40 | $5.46 |
| 2024 | $0.25 | $0.24 | $0.49 | $0.65 | $0.42 | $0.35 | $0.22 | $0.37 | $0.52 | $0.38 | $0.35 | $0.32 | $4.56 |
| 2023 | $0.25 | $0.52 | $0.20 | $0.97 |
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 JPM 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 JPM Option Income Strategy ETF was 24.80%, occurring on Apr 4, 2025. Recovery took 61 trading sessions.
The current YieldMax JPM Option Income Strategy ETF drawdown is 0.35%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -24.80%Apr 2025 | 1mo 14d | 3mo | 4mo 14dFeb 2025 - Jul 2025 |
2026 correction2026 | -14.24%Mar 2026 | 2mo 4d | 3mo 7d | 5mo 11dJan 2026 - Jun 2026 |
2024 correction2024 | -10.64%Aug 2024 | 3mo 28d | 3mo 3d | 7mo 1dApr 2024 - Nov 2024 |
2023 pullback2023 | -9.93%Oct 2023 | 11d | 1mo 23d | 2mo 4dOct 2023 - Dec 2023 |
2024 pullback2024 | -6.89%Dec 2024 | 16d | 28d | 1mo 14dDec 2024 - Jan 2025 |
Drawdown Indicators
| JPO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.80% | -56.78% | +31.98% |
Max Drawdown (1Y)Largest decline over 1 year | -14.24% | -9.10% | -5.14% |
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 | -0.35% | -1.80% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -10.71% | +6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 2.03% | +3.73% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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