What is the WPAY dividend yield?

WPAY has a trailing 12-month (TTM) yield of 35.1%. The forward yield is 33.6%. Yields fluctuate because WPAY generates income by selling options on PYPL.

When is the next WPAY ex-dividend date?

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

WPAY

YieldMax PYPL Option Income Strategy ETFYieldMax ETF35.1% TTM Yield

$34.16-0.55 (-1.58%)At close

After-hours: $33.50

AUM $78MVol 62K52w $33.82 – $56.21Tracks PYPL$45.49 +3.36%

Next Ex-Date

Mar 24, 2026

Projected

TTM Yield

35.1%

Fwd 33.6%

Last Payout

$0.3307

-0.6% vs prior

Recent Payouts

Upcoming Distributions

Ex-Date	Est. Amount	Status
Mar 24, 2026	$0.3307	Projected
Mar 31, 2026	$0.3307	Projected
Apr 7, 2026	$0.3307	Projected

Dividend History

Ex-Date	Pay Date	Amount	vs Prior	Why it changed
Mar 17, 2026	Mar 18, 2026	$0.3307	-0.6%
Mar 10, 2026	Mar 11, 2026	$0.3326	+0.9%
Mar 3, 2026	Mar 4, 2026	$0.3298	+20.3%	The payout increase was driven by elevated implied volatility, which rose to 23.51 compared to the December 2025 trough of 13.47. This higher volatility environment allowed the fund to collect significantly larger options premiums by selling covered calls against PYPL, boosting the monthly distribution despite the underlying stock's price movement.
Feb 24, 2026	Feb 25, 2026	$0.2742	+16.1%	The payout increased because elevated market conditions, with the VIX rising to 23.51 from a December 2025 low of 13.47, significantly boosted implied volatility. This higher volatility environment allowed the fund to collect larger options premiums when selling covered calls against PYPL, directly driving the 16.1 percent monthly distribution growth.
Feb 18, 2026	Feb 19, 2026	$0.2362	-9.0%
Feb 10, 2026	Feb 11, 2026	$0.2596	-23.2%	The payout decrease was driven by a reduction in options premiums, as the implied volatility environment cooled compared to the previous month. While the VIX remained elevated at 23.51, the specific volatility surrounding PYPL likely compressed following its recent earnings cycle, leading to lower income generation from the covered call strategy.
Feb 3, 2026	Feb 4, 2026	$0.3382	+4.6%
Jan 27, 2026	Jan 28, 2026	$0.3233	-4.6%
Jan 21, 2026	Jan 22, 2026	$0.3390	+9.7%
Jan 13, 2026	Jan 14, 2026	$0.3090	-24.3%	The payout decrease was driven by a compression in implied volatility, which reduced the options premiums available for the fund to harvest despite the VIX rising to 23.51 from its December 2025 trough of 13.47. Because covered call strategies rely on high implied volatility to generate income, the specific volatility environment surrounding PYPL likely led to lower premiums collected compared to the previous month, resulting in the 24.3 percent distribution cut.
Jan 6, 2026	Jan 7, 2026	$0.4084	+7.6%
Dec 30, 2025	Dec 31, 2025	$0.3796	-1.5%

How does WPAY generate income?

Sells call options on PYPL to generate monthly income. Payout tracks PayPal's implied volatility.

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 PYPL'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.