Which paid more, ATC or MSR?

Over the year to Sep 30, 2026, ATC paid 10.8% of its starting price in cash and MSR paid 5.2%, so ATC paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, ATC or MSR?

With every distribution reinvested, ATC returned +14.8% and MSR −33.6% over the year to Sep 30, 2026.

Which is cheaper, ATC or MSR?

ATC charges 1.07% a year and MSR charges 1.07%, so ATC is cheaper. Fees come from each fund's prospectus.

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ATC vs MSR: which paid, and which earned it?

Over the window both share ATC paid 10.8% of its price in cash against MSR’s 5.2%, and returned more with it reinvested. GraniteShares Autocallable COIN ETF and GraniteShares Autocallable MSTR ETF.

10.8%

ATC cash paid, since launch

5.2%

MSR cash paid, since launch

+14.8%

ATC total return, since launch

−33.6%

MSR total return, since launch

ATC · since launch to Sep 30, 202625 pts ahead of COIN

ATC

+14.8%

COIN

−10.2%

25 pts ahead of COIN

ATC since launch: paid 10.8%, price +1.9%, total +14.8%, COIN −10.2%, +25.0 pts.

COIN

−10.2%

ATC

+14.8%

10.8% as cash

25 pts ahead of COIN

Total return, distributions reinvested

25 pts ahead of COIN

ATC since launch: paid 10.8%, price +1.9%, total +14.8%, COIN −10.2%, +25.0 pts.

COIN

−10.2%

ATC

+14.8%

25 pts ahead of COIN

10.8% of it arrived as cash. Total return, distributions reinvested. ATC since launch: paid 10.8%, price +1.9%, total +14.8%, COIN −10.2%, +25.0 pts.

MSR · since launch to Sep 30, 202616.6 pts behind MSTR

MSR

−33.6%

MSTR

−17.0%

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 +14.8%. 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, ATC 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 Jun 30, 2026.

50%

half

100% in common

Positions both hold, largest shared weight first

Holding ATC MSR

Treasury Bill 100.00% 100.00%

Only in ATC

Only in MSR

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	ATC	MSR	ATC	MSR	ATC	MSR
3 months	+23.3%	+14.9%	6.2%	4.1%	+6.2 pts	−49.0 pts
Since launch ATC May 2026 · MSR May 2026	+14.8%	−33.6%	10.8%	5.2%	+25.0 pts	−16.6 pts

ATC 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

ATC

GraniteShares Autocallable COIN ETF · Autocallable on COIN, paying monthly

MSR

GraniteShares Autocallable MSTR ETF · Autocallable on MSTR

Issuer GraniteShares GraniteShares

Strategy autocallable autocallable

Benchmark Coinbase (COIN) MicroStrategy (MSTR)

Pays monthly not established

Payout rate, annualized 36.1% 44.3%

Expense ratio 1.07% 1.07%

Cash paid, 1 year 10.8% (since launch on May 12, 2026) 5.2% (since launch on May 12, 2026)

Price change, 1 year +1.9% −38.4%

Total return, 1 year +14.8% (since launch on May 12, 2026) −33.6% (since launch on May 12, 2026)

Benchmark return, 1 year −10.2% −17.0%

Ahead or behind +25.0 pts −16.6 pts

Return of capital, latest estimate 2% 0%

Age 141 days 141 days

Net assets $998,712 $593,832

ATC and MSR on the same fields, as of Sep 30, 2026. Source: ETFIQ.

ATC in plain words

Over the period since launch on May 12, 2026 to Sep 30, 2026, ATC paid 10.8% of its starting value in cash distributions while its price rose 1.9%. With every distribution reinvested, the fund returned +14.8%. Coinbase (COIN) returned −10.2% over the same days, so a holder was ahead by 25.0 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 36.1%, paid monthly. GraniteShares estimates that 2% of the distribution paid Aug 14, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).

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

Which paid more, ATC or MSR?: Over the year to Sep 30, 2026, ATC paid 10.8% of its starting price in cash and MSR paid 5.2%, so ATC paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, ATC or MSR?: With every distribution reinvested, ATC returned +14.8% and MSR −33.6% over the year to Sep 30, 2026.
Which is cheaper, ATC or MSR?: ATC charges 1.07% a year and MSR charges 1.07%, so ATC is cheaper. Fees come from each fund's prospectus.

Other comparisons

ATC vs ACRT ATC vs ACSP ATC vs ACYN ATC vs ACYQ MSR vs JULH MSR vs JULJ MSR vs MSST MSR vs MSTW

ATC on its own →MSR on its own →How every figure is computed →Standards and sources →

Where these figures came from

ATC and MSR filings on SEC EDGAR ↗ATC and MSR prospectus with the expense ratio (SEC) ↗ATC 19a-1 distribution notice ↗GraniteShares page for ATC ↗MSR 19a-1 distribution notice ↗GraniteShares page for MSR ↗

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.

Cite this page

ETFIQ, ATC against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/atc-vs-msr

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.