There is not a single Yieldmax fund that I am aware of (and I've checked most all of them) that is outperforming the underlying asset.
You are very likely, unless the management teams of these funds are very, very good at selling call options, to realize all of the downside risk in the event of a market correction owning these yet not realize all of the upside in a market runup due to the covered calls limiting the potential upside.
If someone came to you and said they had an investment that would absorb all the pricing downside in a drawdown but realize half the upside in a bull market, would you buy it? Probably not.
I've attached a chart of MSTY and MSTR to give you an idea. You can see that during the flat pricing environment price action was similar, but when the price started to go up, the Yieldmax fund got crushed.
If this is in a taxable account it is a nightmare. Your tax drag on the paid distributions versus paying 0 tax on the MSTR position.
These funds are used to extract management fees out of people who have been convinced passive income is the way to a successful investing portfolio.
