DACL vs MSR: which paid, and which earned it?
DACL and MSR both write options for income. REX Defensive Autocallable Income ETF and GraniteShares Autocallable MSTR ETF.
2.2 pts ahead of SPY
DACL since launch: paid 0.6%, price −0.1%, total +0.5%, SPY −1.7%, +2.2 pts.
SPY
−1.7%
DACL
+0.5%
2.2 pts ahead of SPY
Total return, distributions reinvested
2.2 pts ahead of SPY
DACL since launch: paid 0.6%, price −0.1%, total +0.5%, SPY −1.7%, +2.2 pts.
SPY
−1.7%
DACL
+0.5%
2.2 pts ahead of SPY
0.6% of it arrived as cash. Total return, distributions reinvested. DACL since launch: paid 0.6%, price −0.1%, total +0.5%, SPY −1.7%, +2.2 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 +0.5%. MSR since launch: paid 5.2%, price −38.4%, total −33.6%, MSTR −17.0%, −16.6 pts.
Performance, window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | DACL | MSR | DACL | MSR | DACL | MSR |
| 3 months | not published | +14.9% | not published | 4.1% | not published | −49.0 pts |
| Since launch DACL Aug 2026 · MSR May 2026 | +0.5% | −33.6% | 0.6% | 5.2% | +2.2 pts | −16.6 pts |
DACL 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
DACL and MSR on the same fields, as of Sep 30, 2026. Source: ETFIQ.
DACL in plain words
Over the period since launch on Aug 13, 2026 to Sep 30, 2026, DACL paid 0.6% of its starting value in cash distributions while its price fell 0.1%. With every distribution reinvested, the fund returned +0.5%. S&P 500 (SPY), used as a default proxy returned −1.7% over the same days, so a holder was ahead by 2.2 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 6.6%, paid periodically.
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, DACL against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/dacl-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, DACL against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/dacl-vs-msr Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, DACL against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/dacl-vs-msr
- APA
- ETFIQ. (Sep 30, 2026). DACL against MSR. Retrieved from https://etfiq.com/compare/income/dacl-vs-msr
- Markdown
- [DACL against MSR (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/income/dacl-vs-msr)