You're being paid 8.02% to absorb price risk. Only ~2.49% of it is real fees (the other ~69% is decaying emissions) — and they stop covering impermanent loss if YMVDG-USDC diverges more than ±57%.
Real fee/staking yield: 2.49% · token emissions: 69% of the headline.
Break-even fact: a ±57% move in YMVDG-USDC erases a full year of the fees you actually keep (~2.49%). Whether that move happens is up to the market — but any emissions inflating the headline will fade regardless.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.