Tier 5 Analysis

Real Net Return Analysis

The truth behind 50%+ yields. We calculate what you actually made (distributions received minus NAV erosion) over the last 12 months.

What This Page Covers

  • Real return rankings for Tier 5 high-yield ETFs.
  • Yield vs NAV erosion analysis across recent 12-month windows.
  • Winners, losers, and strategy pivots explained.
Updated Jul 7, 2026|Data: Yahoo Finance + SEC filings
Avg Stated Yield
1424.7%
Avg Real Return
+704.8%
Winners
16
Losers
14
Pivoted
0
New/Partial
10
How we calculate Real Return: NAV Change (price appreciation/depreciation) + Distributions Received, annualized. A fund showing 60% yield but -50% NAV change has a real return of only +10%.
Xmo= Less than 12 months of data available. Returns annualized from available period.
#TickerStated YieldNAV ChangeReal Return
1
Defiance Daily Target 2x Long MSTR ETF
17488.5%-97.4%+17391.1%
2
YieldMax SQ Option Income
123.0%+1367.0%+2627.2%
3
YieldMax MSTR Short Option Income Strategy ETF
122.2%+86.3%+286.1%
4
SEMY8mo
GraniteShares YieldBOOST Semiconductor ETF
99.0%+52.8%+260.4%
5
YieldMax MRNA Option Income
95.8%+91.5%+232.1%
6
ARMW9mo
Roundhill ARM Weekly Income
217.8%+112.1%+209.1%
7
YieldMax Short COIN Option Income Strategy ETF
118.4%+36.1%+182.6%
8
IOYY8mo
GraniteShares YieldBOOST IONQ ETF
101.2%-38.9%+129.8%
9
SMYY10mo
GraniteShares YieldBOOST SMCI ETF
98.6%-37.5%+120.1%
10
YieldMax MARA Option Income
93.4%-37.9%+92.1%
11
Defiance Daily Target 2X Long RKLB ETF
202.4%+58.3%+88.8%
12
QBY7mo
GraniteShares YieldBOOST QBTS ETF
98.9%-51.6%+88.4%
13
MAAY8mo
GraniteShares YieldBOOST META ETF
93.8%-61.9%+78.2%
14
RGYY8mo
GraniteShares YieldBOOST RGTI ETF
99.1%-56.7%+70.1%
15
Defiance Daily Target 2X Long RIOT ETF
2489.0%+19.0%+61.0%
16
HIYY10mo
YieldMax HOOD Option Income
98.9%-40.0%+27.0%
17
Defiance Daily Target 2X Long HOOD ETF
420.0%-23.3%-8.1%
18
T-REX 2X Long SNOW Daily Target ETF
534.8%-13.1%-8.4%
19
T-REX 2X Long HOOD Daily Target ETF
572.4%-20.7%-15.9%
20
GraniteShares PTIR ETF
556.6%-32.0%-23.9%
21
Defiance Daily Target 2X Long SOFI ETF
309.1%-48.1%-30.3%
22
T-REX 2X Long MSFT Daily Target ETF
425.6%-48.5%-43.8%
23
GraniteShares 2x Long UBER Daily ETF
681.4%-52.2%-45.3%
24
GLXU11mo
T-REX 2X Long GLXY Daily Target ETF
533.7%-73.3%-69.6%
25
T-REX 2X Long CRWV Daily Target ETF
328.7%-79.0%-76.8%
26
Defiance Daily Target 2X Long SOUN ETF
449.3%-86.6%-77.3%
27
Defiance Daily Target 2X Long HIMS ETF
147.1%-79.8%-79.1%
28
T-REX 2X Long RBLX Daily Target ETF
129.0%-85.3%-84.8%
29
T-REX 2X Long SMR Daily Target ETF
15922.2%-99.9%-98.9%
30
ETHI4mo
Defiance Leveraged Long Income Ethereum ETF
91.1%-196.4%-137.8%

Key Insights

The Yield Gap

The average stated yield of 1425% drops to a real return of +705% after accounting for NAV erosion.

Winners vs Losers

16 of 30 funds delivered positive real returns.

The Bottom Line

High-octane yields are often illusions. NAV erosion eats more than half the stated return on average.

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