You're being paid 26.5% to absorb price risk. Only ~26.2% of it is real fees (the other ~1% is decaying emissions) — and they stop covering impermanent loss if ADA-USDM diverges more than ±415%.
Real fee/staking yield: 26.2% · token emissions: 1% of the headline.
Break-even fact: a ±415% move in ADA-USDM erases a full year of the fees you actually keep (~26.2%). 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.