ACII vs MSR: which paid, and which earned it?
ACII and MSR both write options for income. Innovator Index Autocallable Income Strategy ETF and GraniteShares Autocallable MSTR ETF.
About even with SPY
ACII since launch: paid 3.8%, price −2.3%, total +1.6%, SPY +1.6%, +0.1 pts.
SPY
+1.6%
ACII
+1.6%
about even with SPY
Total return, distributions reinvested
About even with SPY
ACII since launch: paid 3.8%, price −2.3%, total +1.6%, SPY +1.6%, +0.1 pts.
SPY
+1.6%
ACII
+1.6%
about even with SPY
3.8% of it arrived as cash. Total return, distributions reinvested. ACII since launch: paid 3.8%, price −2.3%, total +1.6%, SPY +1.6%, +0.1 pts.
16.6 pts behind MSTR
MSR since launch: paid 5.2%, price −38.4%, total −33.6%, MSTR −17.0%, −16.6 pts.
MSTR
−17.0%
MSR
−33.6%
16.6 pts behind MSTR
Total return, distributions reinvested
16.6 pts behind MSTR
MSR since launch: paid 5.2%, price −38.4%, total −33.6%, MSTR −17.0%, −16.6 pts.
MSTR
−17.0%
MSR
−33.6%
16.6 pts behind MSTR
5.2% of it arrived as cash. Both charts share one scale, 0 to +1.6%. MSR since launch: paid 5.2%, price −38.4%, total −33.6%, MSTR −17.0%, −16.6 pts.
What they hold in common
By the books each fund has filed, ACII and MSR hold 100% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and Jun 30, 2026.
half
100% in common
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.
Performance, window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | ACII | MSR | ACII | MSR | ACII | MSR |
| 3 months | +1.7% | +14.9% | 2.4% | 4.1% | −0.8 pts | −49.0 pts |
| Since launch ACII May 2026 · MSR May 2026 | +1.6% | −33.6% | 3.8% | 5.2% | +0.1 pts | −16.6 pts |
ACII and MSR over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
ACII and MSR on the same fields, as of Sep 30, 2026. Source: ETFIQ.
ACII in plain words
Over the period since launch on May 28, 2026 to Sep 30, 2026, ACII paid 3.8% of its starting value in cash distributions while its price fell 2.3%. With every distribution reinvested, the fund returned +1.6%. S&P 500 (SPY), used as a default proxy returned +1.6% over the same days, so a holder was about even. At its price on Sep 30, 2026 the latest distribution annualizes to 9.8%, paid monthly.
MSR in plain words
Over the period since launch on May 12, 2026 to Sep 30, 2026, MSR paid 5.2% of its starting value in cash distributions while its price fell 38.4%. With every distribution reinvested, the fund returned −33.6%. MicroStrategy (MSTR) returned −17.0% over the same days, so a holder was behind by 16.6 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 44.3%, paid periodically. GraniteShares estimates that 0% of the distribution paid Jun 5, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, ACII against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/acii-vs-msr
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, ACII against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/acii-vs-msr Free to use with attribution; the underlying files are at Open data.
Other forms
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- ETFIQ, ACII against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/acii-vs-msr
- APA
- ETFIQ. (Sep 30, 2026). ACII against MSR. Retrieved from https://etfiq.com/compare/income/acii-vs-msr
- Markdown
- [ACII against MSR (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/income/acii-vs-msr)