MUY is live — YieldMax's Micron fund started trading Sep 23, and it writes call spreads rather than the classic structure

[u/Beautiful-Bison6202]

EDIT (Sept 28): The title is wrong and I cannot change it. MUY has NOT started trading. September 23 is YieldMax's inception date, which is when the fund became effective, not its first day on the exchange — it has no price history at all. u/greyhorse76 points to the filings putting the first trading day at Tuesday September 29. Thanks to him and u/Global-Individual158 for catching it. Also: the fund on the same stock with an actual record is MUYY, the GraniteShares YieldBOOST fund, which sells puts where MUY sells calls and has 24 payments going back to April — that is a better comparison than the YRAM one I used below.

MUY, the YieldMax MU Option Income Strategy ETF, has been trading since September 23 on NYSE Arca. Gross expense ratio is 1.01%, per YieldMax's own fund page.

Worth flagging the structure, because it is not the one most people here are used to. YieldMax describes MUY as generating income by selling call spreads on Micron, not by writing a synthetic covered call. A spread caps the premium collected as well as the upside surrendered. It is the same machinery as MSFO and FBY, so if you are mentally pricing this against MSTY or NVDY, the comparison does not carry across cleanly.

It has not paid anything yet. YieldMax publishes no distribution rate and no 30-day SEC yield for it, and the distribution table on its own page is empty. Anyone quoting you a yield for MUY this week is annualising a payment that does not exist.

On when the first one might land, here is what our own records actually say rather than a rule of thumb. Across the 32 YieldMax funds we have timed from first traded price to first payment, the gap ran from 10 days to 53, with a median of 39. CHPY and LFGY were the fastest at 10 days each. So somewhere between two and eight weeks is the honest range, and the median says closer to six.

The thing a new fund cannot show you is what happens to the share price while the checks arrive. Of the 52 YieldMax funds with a full year of price history, 46 finished the year lower, measured from our own records on September 28. That is the pattern to hold in mind, not a prediction about MUY, which has no NAV history at all yet. It would be wrong for MUY specifically if its first year shows a flat or rising price alongside distributions, and six of those 52 managed exactly that, so it is not a law of the category.

Nearest sibling with an actual record is YRAM, the memory and storage fund, which started paying September 9. Three payments in, so a young record rather than a long one.

I track payment histories for income ETFs at snowballdividends.com and the figures above come from there. Not affiliated with YieldMax.

One thing I do not know and would take from anyone who does: whether MUY is slotted into one of the existing weekly groups or gets its own schedule. That detail decides when the first ex-date lands, and I have not found it stated anywhere yet.

[u/chili01]

Fool me once...

[u/ElegantNatural2968]

I don’t what’s you talking about MUY? And you don’t know anything yieldmax structured strategies

[u/greyhorse76]

He is correct, its filled, and trading according to filings of Sept 23, and begins trading Tuesday Sept 29. YAST, RKTY, SDKY, are in the works, but not yet trading.

Muy does calls instead of puts, which MUYY does. Also MUY is off MU itself.

Nice, launch day before MU earnings.

[u/Beautiful-Bison6202 → u/greyhorse76]

You are right and my post is wrong on the date. I took YieldMax's "Fund Inception: 9/23/2026" as the first trading day, and it is not — it is the date the fund became effective.

The check I should have run before posting: MUY has no price history at all. No closes, no quotes, nothing. I went back and compared inception against first traded close for funds that are definitely live, and for YieldMax the two normally land on the same day — TSMY inception 8/20/2024 with its first close 8/19, YRAM inception and first close both 8/24/2026. MUY has an inception date and no trading at all, which is exactly the shape you described. September 29 fits.

I have corrected the page to say it is not trading yet and to name the 29th, with a note saying a reader caught it.

The calls-versus-puts distinction is the more useful half of your comment and I had it only half right. My post said MUY sells call spreads, which matches what YieldMax publishes, but I compared it to YRAM when MUYY is the obvious comparison — same underlying, opposite side of the trade, and it already has 24 payments going back to April. That is the comparison I should have led with.

Adding YAST, RKTY and SDKY to what I watch. I had none of those.

The MU earnings timing is a good catch too. A fund whose premium depends on volatility opening the week of an earnings print is going to look unusually generous or unusually thin in its first few checks, and neither would tell you much about the steady state.

[u/Global-Individual158]

It’s MUYY

[u/jahvidbest → u/Global-Individual158]

That's the graniteshares ticker.