Core Insights - YieldMax has attracted significant investor interest with distribution rates exceeding 51%, resulting in $22 billion in net inflows since 2022 [2] - Despite high distribution rates, investors in YieldMax ETFs have experienced an average loss of 11% per year since late 2022 when reinvesting 80% of distributions [3] - The COIN Option Income Strategy ETF (CONY) reported annual returns of 42% from August 2023 to April 2025, yet investors lost $35.5 million during this period due to poor timing in their investments [3] Distribution and Returns - YieldMax has made 23 distributions totaling $1.3 billion from inception through July 2025, with an average monthly distribution of 8% of the fund's assets [6] - Approximately 83% of the distributed amount was return of capital rather than income generated from investments [6] - The company's advertised distribution rates may be misleading as they include both income and return of capital, raising concerns about sustainability [5]