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

JANQ and MSR both write options for income. Innovator Premium Income 40 Barrier ETF - January and GraniteShares Autocallable MSTR ETF.

0.0%
JANQ cash paid, since launch
5.2%
MSR cash paid, since launch
0.0%
JANQ total return, since launch
−33.6%
MSR total return, since launch
JANQ · since launch to Sep 30, 20260.9 pts behind SPY
JANQ
0.0%
SPY
+0.9%

0.9 pts behind SPY

JANQ since launch: paid 0.0%, price 0.0%, total 0.0%, SPY +0.9%, −0.9 pts.

SPY

+0.9%

JANQ

0.0%

0.9 pts behind SPY

Total return, distributions reinvested

0.9 pts behind SPY

JANQ since launch: paid 0.0%, price 0.0%, total 0.0%, SPY +0.9%, −0.9 pts.

SPY

+0.9%

JANQ

0.0%

0.9 pts behind SPY

0.0% of it arrived as cash. Total return, distributions reinvested. JANQ since launch: paid 0.0%, price 0.0%, total 0.0%, SPY +0.9%, −0.9 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 +0.9%. MSR since launch: paid 5.2%, price −38.4%, total −33.6%, MSTR −17.0%, −16.6 pts.

Performance, window by window

Total returnCash paidAgainst the benchmark
WindowJANQMSRJANQMSRJANQMSR
3 monthsnot published+14.9%not published4.1%not published−49.0 pts
Since launch
JANQ Sep 2026 · MSR May 2026
0.0%−33.6%0.0%5.2%−0.9 pts−16.6 pts

JANQ 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

JANQ
Innovator Premium Income 40 Barrier ETF - January · Defined income on SPY
MSR
GraniteShares Autocallable MSTR ETF · Autocallable on MSTR
Issuer Innovator GraniteShares
Strategy defined income autocallable
Benchmark S&P 500 (SPY) MicroStrategy (MSTR)
Pays not established not established
Payout rate, annualized not published 44.3%
Expense ratio 0.79% 1.07%
Cash paid, 1 year 0.0% (since launch on Sep 10, 2026) 5.2% (since launch on May 12, 2026)
Price change, 1 year 0.0% −38.4%
Total return, 1 year 0.0% (since launch on Sep 10, 2026) −33.6% (since launch on May 12, 2026)
Benchmark return, 1 year +0.9% −17.0%
Ahead or behind −0.9 pts −16.6 pts
Return of capital, latest estimate not published 0%
Age 20 days 141 days
Net assets not published $593,832

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

JANQ in plain words

Over the period since launch on Sep 10, 2026 to Sep 30, 2026, JANQ paid 0.0% of its starting value in cash distributions while its price rose 0.0%. With every distribution reinvested, the fund returned 0.0%. S&P 500 (SPY) returned +0.9% over the same days, so a holder was behind by 0.9 pts.

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 is cheaper, JANQ or MSR?
JANQ charges 0.79% a year and MSR charges 1.07%, so JANQ is cheaper. Fees come from each fund's prospectus.
Cite this page

ETFIQ, JANQ against MSR, data as of Sep 30, 2026. https://etfiq.com/compare/income/janq-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.