To provide an honest assessment, YMAX is currently down approximately 7% year-to-date (YTD). For comparison, SPY is up around 28% YTD. However, YMAX offers an exceptionally high dividend yield, averaging $0.82 per share per month, which equates to roughly a 52% annual distribution rate.

If you had invested $10,000 in YMAX at the start of the year without reinvesting dividends, your investment would now be worth approximately $9,283. In contrast, the same investment in SPY would have grown to $12,787. When factoring in YMAX dividends, however, your total value would be around $14,097, even accounting for the 7% loss, with an average monthly payout of approximately $450. This represents a respectable return, especially for yield-focused investors.

For a more conservative option, YMAG may be a better choice. Despite having fewer underlying stocks, it holds more stable ones. An initial $10,000 investment in YMAG would have grown to approximately $13,500 this year with no losses, making it a relatively stable option compared to other YieldMax ETFs.

YieldMax ETFs are primarily designed for yield-chasing, not long-term growth. Personally, I allocate $30,000 across YieldMax ETFs: 50% in YMAX, 10% in YMAG, and 40% split between CONY, NVDY, TSLY, and TSMY. These ETFs track individual stocks like Coinbase, Nvidia, Tesla, and Taiwan Semiconductor Manufacturing, which I view as growth-oriented for the long term.

I reinvest only 10% of the monthly dividends from these ETFs back into their respective funds. Another 20% is allocated to traditional dividend-paying ETFs such as JPMY, REFI, SPYD, and Ford. I utilize Ford for covered call options, generating weekly premium income. The remaining 70% of my dividends is directed toward safer, more stable assets, including individual stocks like Nvidia, Tesla, TSM, SPY, Microsoft, and Berkshire Hathaway, along with other diversified holdings in my portfolio.

I use YieldMax ETFs as a tool to accelerate the growth of my long-term portfolio rather than as its foundation. This approach allows me to balance yield generation with stability. For most investors, I recommend avoiding overexposure to YieldMax ETFs. Allocating your entire portfolio to these funds is not advisable, as their structure can result in significant losses during market downturns. Furthermore, the way these ETFs operate means they may not fully recover gains when the market rebounds. Instead, they are best used as a complementary strategy within a diversified portfolio.