What is the SMCY dividend yield?

SMCY has a trailing 12-month (TTM) yield of 271.3%. The forward yield is 192.8%. Yields fluctuate because SMCY generates income by selling options on SMCI.

When is the next SMCY ex-dividend date?

SMCY pays distributions weekly. Check the dividend history table on this page for the latest ex-dates and projected upcoming distributions.

SMCY

YieldMax SMCI Option Income Strategy ETFYieldMax ETF271.3% TTM Yield

$5.26+0.24 (+4.78%)At close

After-hours: $5.33

AUM $102MVol 3.6M52w $4.80 – $25.00Tracks SMCI$21.58 +5.11%

Next Ex-Date

Mar 26, 2026

Projected

TTM Yield

271.3%

Fwd 192.8%

Last Payout

$0.1093

-5.3% vs prior

Recent Payouts

Upcoming Distributions

Ex-Date	Est. Amount	Status
Mar 26, 2026	$0.1093	Projected
Apr 2, 2026	$0.1093	Projected
Apr 9, 2026	$0.1093	Projected

Dividend History

Ex-Date	Pay Date	Amount	vs Prior	Why it changed
Mar 19, 2026	Mar 20, 2026	$0.1093	-5.3%
Mar 12, 2026	Mar 13, 2026	$0.1154	-20.7%	The payout decrease was driven by a compression in SMCI's implied volatility, which fell to 85 compared to a 52-week high of 128, reducing the options premiums available for the fund to harvest. Although SMCI showed a positive price trend following a pivot bottom on March 18, the lower volatility environment significantly limited the income generated from the covered call strategy compared to the prior month.
Mar 5, 2026	Mar 6, 2026	$0.1456	+14.5%
Feb 26, 2026	Feb 27, 2026	$0.1272	+4.2%
Feb 19, 2026	Feb 20, 2026	$0.1221	-7.6%
Feb 12, 2026	Feb 13, 2026	$0.1322	+45.3%	The payout increased because SMCI experienced significant price volatility and market turbulence, which pushed the 30-day option implied volatility to 65. This elevated implied volatility environment allowed the fund to collect higher options premiums, which are then distributed to shareholders as part of the covered-call strategy.
Feb 5, 2026	Feb 6, 2026	$0.0910	-5.0%
Jan 29, 2026	Jan 30, 2026	$0.0958	-19.1%	The payout decrease was driven by a contraction in SMCI's implied volatility from its extreme historical highs, which reduced the options premiums available for the fund to harvest. As the stock price stabilized following its recent period of intense volatility and market-moving events, the lower implied volatility environment directly resulted in smaller income distributions for the covered-call strategy.
Jan 22, 2026	Jan 23, 2026	$0.1184	+37.7%	The payout increased because SMCI experienced significant price volatility and elevated implied volatility, which reached 85 in March 2026. This high implied volatility environment allowed the fund to collect larger options premiums when selling covered calls, directly boosting the distribution amount for shareholders.
Jan 15, 2026	Jan 16, 2026	$0.0860	+18.1%	The payout increase was driven by elevated implied volatility in SMCI, which reached 85 as of March 2026, allowing the ETF to collect significantly higher options premiums. This heightened volatility environment, fueled by recent price instability and market uncertainty surrounding the stock, directly increased the income generated from the covered-call strategy.
Jan 8, 2026	Jan 9, 2026	$0.0728	-23.1%	The decrease in the SMCY distribution was driven by a contraction in SMCI's implied volatility, which fell toward the lower end of its 52-week range of 52 to 128, currently sitting at 85. Because covered-call ETFs rely on selling options to generate income, this lower volatility environment compressed the options premiums available to collect, resulting in a reduced payout compared to previous months.
Jan 2, 2026	Jan 5, 2026	$0.0947	-3.2%

How does SMCY generate income?

Sells call options on SMCI to generate monthly income. AI server demand and accounting concerns have driven extreme volatility in SMCI, producing high option premiums.

You must own shares before market open on the ex-dividend date to receive each distribution. The record date is typically 1 business day after the ex-date, and payment follows within a week.

Payout variability is driven primarily by SMCI's implied volatility — when IV is high (e.g., around earnings or market events), option premiums rise, producing larger distributions. When IV compresses, payouts shrink.