FIAT
YieldMax Short COIN Option Income Strategy ETF
weekly DividendsFIAT Quick Stats
FIAT Distribution History Trend
FIAT has paid 61 weekly distributions on record since inception (2024-07-09). The average distribution over the trailing 12 periods is $0.32 per share. The highest distribution was $0.46 (week of 2026-07-02) and the lowest was $0.22 (week of 2026-08-27). Distribution variance of $0.24 reflects how sensitive the option premium on YieldMax Short COIN Option Income Strategy's underlying exposure is to market volatility — richer weeks follow volatility spikes, thinner weeks follow calm markets.
FIAT vs COIW
FIAT and COIW both target COIN exposure with weekly distributions. FIAT is the larger fund by AUM, but both track the same underlying and move with it.
Fund Overview
FIAT — YieldMax Short COIN Option Income Strategy ETF — is a weekly-distribution ETF issued by YieldMax that generates income by selling put options against COIN exposure. The fund targets investors seeking high-frequency cash flow from COIN exposure without holding the underlying directly. Distributions are paid weekly, with the ex-dividend date typically falling on a Thursday. The current annualized yield of 84.35% is calculated from the most recent weekly distribution of $0.2771 per share divided by the current share price of $17.08 and multiplied by 52. As with all option-income funds, the distribution rate reflects current implied volatility in COIN options — when volatility falls, distributions typically shrink. The fund has $34.8 million in assets under management and has returned -36.24% on a price basis year-to-date, excluding distributions.
Compared to similar YieldMax funds, FIAT ranks 10 out of 56 by current yield and 37 out of 56 by year-to-date price performance.
Annual Yield Calculations
Both figures start from the same per-period rate: the average of the last 3 distributions ($0.28) divided by the current price ($17.08) = 1.622% per week. The non-DRIP yield annualizes it simply; the DRIP yield compounds it over 52 periods.
WeeklyYield™ Actual Performance
How YTD & performance are calculated: YTD returns shown across WeeklyYield are price-only, using split-adjusted close-to-close prices from the first trading day of the calendar year to the latest close — the same method your brokerage uses. Dividends are tracked separately in the yield figures above. "Actual Non-DRIP" and "Actual DRIP" add distributions back in to show total return since the earliest price we have on record (2025-09-02 at $31.85), using the same 47 distributions in both — non-DRIP collects them as cash, DRIP buys shares at each ex-date close. See full methodology →
Top Performer Score
Price History (1 Year)
About This ETF
The YieldMax Short COIN Option Income Strategy ETF (FIAT) is an exchange-traded fund that mostly invests in financials equity. The fund aims to provide current income and inverse exposure to Coinbase stock (COIN), with a cap on potential gains. The fund pursues its objective through an actively managed synthetic covered put strategy, using US Treasurys as collateral FIAT was launched on Jul 9, 2024 and is issued by YieldMax.
How FIAT Generates Income
FIAT generates income from a short or inverse position on COIN, collecting option premium by selling put options or maintaining synthetic short exposure. The fund profits when COIN declines and distributes that premium as weekly income. This strategy carries significant risk if COIN rises sharply, as losses on the short position can exceed the income generated. These funds are typically used by investors who want income while maintaining a bearish view on the underlying, or as a hedge against long exposure to the same asset.
Distribution Composition and Tax Considerations
Not all of FIAT's weekly distributions represent taxable income. Option-income funds frequently classify part of each distribution as return of capital (ROC), which is not taxable in the year received but reduces your cost basis in the fund. When your cost basis reaches zero, subsequent ROC distributions become taxable as capital gains. The exact composition of each distribution — ordinary income, qualified dividends, short-term capital gains, long-term capital gains, and return of capital — is reported annually on Form 1099-DIV and may not be known until after the tax year ends. Holding FIAT in a tax-advantaged account (IRA, Roth IRA, 401k) eliminates the annual tax complexity entirely and is the approach most income-focused investors use for high-distribution funds.
Educational information only — not tax advice. See our after-tax dividend calculator to model your own situation.
Dividend History
| Ex-Dividend Date | Cash Amount | Pay Date |
|---|---|---|
| 2026-08-27 | $0.21550 | 2026-08-28 |
| 2026-08-20 | $0.31000 | 2026-08-21 |
| 2026-08-13 | $0.30570 | 2026-08-14 |
| 2026-08-06 | $0.35580 | 2026-08-07 |
| 2026-07-30 | $0.26500 | 2026-07-31 |
| 2026-07-23 | $0.27410 | 2026-07-24 |
| 2026-07-16 | $0.26130 | 2026-07-17 |
| 2026-07-09 | $0.27230 | 2026-07-10 |
| 2026-07-02 | $0.45860 | 2026-07-06 |
| 2026-06-25 | $0.34130 | 2026-06-26 |
| 2026-06-18 | $0.40120 | 2026-06-22 |
| 2026-06-11 | $0.33950 | 2026-06-12 |
FIAT has paid 12 weekly distributions over the past 12 weeks. The average weekly distribution over this period was $0.3167 per share. The highest distribution in the trailing 12 weeks was $0.4586 (ex-date 2026-07-02) and the lowest was $0.2155 (ex-date 2026-08-27). Distribution consistency — the variance between the highest and lowest payment — is one indicator of underlying volatility stability. High variance suggests the fund's income generation is sensitive to volatility swings in COIN options.
Latest FIAT News
- FIAT declares $0.2155 weekly distribution — ex-date 2026-08-27, payment date 2026-08-28Distribution announcement · 2026-08-27
- FIAT declares $0.3100 weekly distribution — ex-date 2026-08-20, payment date 2026-08-21Distribution announcement · 2026-08-20
- FIAT declares $0.3057 weekly distribution — ex-date 2026-08-13, payment date 2026-08-14Distribution announcement · 2026-08-13
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Frequently Asked Questions About FIAT
FIAT pays weekly dividends. Its most recent ex-dividend date was 2026-08-27 with a pay date of 2026-08-28.
FIAT has paid an average of $0.2771 per share across its most recent 3 distributions. Its latest distribution was $0.2155 per share.
FIAT's current annualized yield is 84.35%. This is calculated as the average of its last 3 distributions ($0.2771) divided by the current share price of $17.08, annualized over 52 periods. Reinvesting those distributions (DRIP) compounds the same rate: (1 + rate)^52 − 1.
Covered call and option-income ETF distributions vary week to week. FIAT's actual total return figures on the fund's WeeklyYield page show total return net of NAV changes; high distribution rates can coincide with NAV decline, so investors should compare yield to actual total return before drawing conclusions. This is educational information, not investment advice.
Option-income ETF distributions are generally treated as ordinary income or return of capital, depending on the fund's structure and the underlying options strategy. For FIAT's exact tax character, refer to the fund issuer's 19a-1 notices and year-end 1099-DIV. This is not tax advice.
More detail on how these numbers are calculated is on our methodology page.