APLY/ YieldMax AAPL Option Income
Comprehensive risk audit, payout history, and forward-looking dividend projections.
What This Page Shows
- Dividend yield and net yield after fees (22.39% vs 21.33%)
- Risk tier classification: Tier 4 Volatility Harvest
- TTM NAV change: -24.6%
- Income sustainability flags and payout history trends
DivAgent Audit Brief
APLY is a Tier 4 Volatility Harvest asset yielding 22.39%. It utilizes an aggressive options strategy to generate income, resulting in high immediate yield but significant risk of NAV erosion. Warning: NAV has declined -24.6% over the TTM.
Provider
YieldMax
Sector
Tech
Asset Class
Derivative Income
Expense Ratio
1.06%
AUM
$140.72M
Inception
—
Distribution
weekly
NAV Change (1Y)
-24.6%
Elevated Erosion Risk
NAV has declined 24.6% while total return is -2.2%. Monitor closely for signs of unsustainable distributions.
Who Should Buy APLY?
APLY is best suited for Income Maximizers. The fund generates a 22.39% yield through selling options against its holdings.
Aggressive income seekers who prioritize high current cash flow over capital appreciation.
You are building a 'forever portfolio' and cannot tolerate NAV (share price) decline.
Quick Audit
- TypeDerivative Income
- ComplexityHigh
- Tax EfficiencyLow (Ordinary Income)
- VolatilityModerate (Lower Beta)
Comparing stated yield to actual total return performance
Yield ≠ Returns
This high-yield fund is experiencing significant NAV erosion. While the stated yield is 22.4%, your actual return is only -2.2% due to principal decline.
Elevated Erosion Risk: NAV has declined 24.6% while total return is -2.2%. Monitor closely for signs of unsustainable distributions.
Return of Capital Note: Options-based ETFs may classify portions of distributions as Return of Capital. This is often a tax accounting mechanism rather than true principal erosion.
Liquidity Warning: High Risk
APLY has high liquidity risk. You may experience wide bid-ask spreads and significant slippage when entering or exiting positions. Consider using limit orders and avoid market orders for large positions.
Institutional Data Locked
Advanced liquidity metrics for Tier 4 assets are available to Premium members.
Unlock MetricsDivAgent Analyst Verdict
“APLY is currently serving as a high-yield accelerator. Investors should be aware that uses swap contracts to replicate covered call returns without owning underlying shares. typically higher risk than traditional covered calls.”
Risk Profile Audit
Classified as high risk to principal. Significant NAV erosion is possible during volatile markets. Suitable only for income-focused satellite positions.
Price Chart
Live DataCalculate Your Returns
Estimate income for APLY
~79.74 shares at $12.54
Estimates use the latest forecasted distribution and are not guarantees.
Track APLY in DivAgentAPLY changed its distribution schedule from monthly to weekly on September 25, 2025.
Verified Payout History
Last 5 of 20 Payments| Ex-Dividend Date | Amount | Frequency | Status |
|---|---|---|---|
| Jan 02, 2026 | $0.0530 | Weekly | PAID |
| Dec 26, 2025 | $0.0520 | Weekly | PAID |
| Dec 18, 2025 | $0.0610 | Weekly | PAID |
| Dec 11, 2025 | $0.0540 | Weekly | PAID |
| Dec 04, 2025 | $0.1180 | Weekly | PAID |
+15 more dividends hidden | |||
15 more dividends available
Upgrade to Premium to see up to 10 historical dividends, or Pro for unlimited access.
Compare APLY Alternatives
See All ComparisonsAPLY FAQ
Common questions about APLY dividends, safety, and performance
Institutional Analysis Context
This FAQ section provides institutional-grade analysis of APLY. DivAgent evaluates dividend ETFs using a proprietary 5-Tier Risk Spectrum that measures income sustainability, NAV erosion risk, and distribution source quality. Data is updated daily from market sources.
DivAgent Data Methodology
Risk Tier Classification
Our 5-Tier Risk Spectrum is not an editorial opinion. It is a quantitative scoring model derived from 36-month volatility, max drawdown depth, and option skew (for derivative funds). A "Tier 1" rating implies volatility comparable to short-term treasuries, while "Tier 5" indicates localized volatility exceeding the S&P 500.
NAV Erosion Calculation
We calculate "Erosion" by stripping out distribution payments to isolate the price performance of the underlying collateral. If a fund's share price drops by more than its distribution yield over a rolling 12-month period, it is flagged as eroding capital. This protects investors from "Yield Traps" that return their own principal as taxable income.
Yield vs. Income
DivAgent distinguishes between "SEC Yield" (standardized) and "Distribution Rate" (cash-on-cash). For option-income ETFs (e.g., Covered Calls), we prioritize the Trailing 12-Month (TTM) distribution rate as a more accurate reflection of realized income, while flagging that future payouts fluctuate with implied volatility.
Performance Benchmarking
All "Total Return" metrics differ from price return. We assume immediate reinvestment of all dividends (DRIP) on the pay date, with no tax friction. This "Net Total Return" metric allows for a true apples-to-apples comparison between high-yield/flat-price funds and low-yield/high-growth funds.