MSST vs MSTW: which paid, and which earned it?

MSST and MSTW both write options for income. YieldMax MSTR Performance & Distribution Target 25 ETF and Roundhill MSTR WeeklyPay ETF.

13.6%

MSST cash paid, since launch

25.0%

MSTW cash paid, 1 year

−27.4%

MSST total return, since launch

−65.0%

MSTW total return, 1 year

MSST · since launch to Sep 30, 20261.4 pts behind MSTR

MSST

−27.4%

MSTR

−26.0%

1.4 pts behind MSTR

MSST since launch: paid 13.6%, price −41.4%, total −27.4%, MSTR −26.0%, −1.4 pts.

MSTR

−26.0%

MSST

−27.4%

1.4 pts behind MSTR

Total return, distributions reinvested

1.4 pts behind MSTR

MSST since launch: paid 13.6%, price −41.4%, total −27.4%, MSTR −26.0%, −1.4 pts.

MSTR

−26.0%

MSST

−27.4%

1.4 pts behind MSTR

13.6% of it arrived as cash. Total return, distributions reinvested. MSST since launch: paid 13.6%, price −41.4%, total −27.4%, MSTR −26.0%, −1.4 pts.

MSTW · 1 year to Sep 30, 202612.5 pts behind MSTR

MSTW

−65.0%

MSTR

−52.5%

12.5 pts behind MSTR

MSTW over 1 year: paid 25.0%, price −84.2%, total −65.0%, MSTR −52.5%, −12.5 pts.

MSTR

−52.5%

MSTW

−65.0%

12.5 pts behind MSTR

Total return, distributions reinvested

12.5 pts behind MSTR

MSTW over 1 year: paid 25.0%, price −84.2%, total −65.0%, MSTR −52.5%, −12.5 pts.

MSTR

−52.5%

MSTW

−65.0%

12.5 pts behind MSTR

25.0% of it arrived as cash. Both charts share one scale, 0 to −26.0%. MSTW over 1 year: paid 25.0%, price −84.2%, total −65.0%, MSTR −52.5%, −12.5 pts.

What they hold in common

By the books each fund has filed, MSST and MSTW hold 13% 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 Oct 1, 2026 and Sep 30, 2026.

50%

half

13% in common

Positions both hold, largest shared weight first

Holding MSST MSTW

First American Government Obligations Fund 12/01/2031 12.93% 18.49%

Only in MSST

MSTR 11/20/2026 135.01 C 46.55%

United States Treasury Bill 12/10/2026 22.10%

United States Treasury Note/Bond 2.375% 05/15/2027 20.69%

United States Treasury Bill 02/18/2027 20.61%

MSTR US 10/16/26 C160 6.85%

MSTR US 10/16/26 C165 1.17%

MSTR US 10/16/26 C170 0.91%

MSTR US 10/16/26 C155 -4.32%

Only in MSTW

MSTR US 10/02/26 C50 81.51%

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	MSST	MSTW	MSST	MSTW	MSST	MSTW
3 months	+50.9%	+74.1%	7.3%	23.1%	−13.1 pts	+10.2 pts
6 months	+9.6%	+17.7%	11.7%	33.7%	−15.1 pts	−7.0 pts
1 year	not published	−65.0%	not published	25.0%	not published	−12.5 pts
Since launch MSST Nov 2025 · MSTW Jul 2025	−27.4%	−74.5%	13.6%	28.1%	−1.4 pts	−11.4 pts

MSST and MSTW over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

MSST

YieldMax MSTR Performance & Distribution Target 25 ETF · Synthetic covered call on MSTR, paying weekly

MSTW

Roundhill MSTR WeeklyPay ETF · Option income on MSTR, paying weekly

Issuer YieldMax Roundhill

Strategy synthetic covered call option income

Benchmark MicroStrategy (MSTR) MicroStrategy (MSTR)

Pays weekly weekly

Payout rate, annualized 26.3% 99.2%

Expense ratio not published 1.00%

Cash paid, 1 year 13.6% (since launch on Nov 18, 2025) 25.0%

Price change, 1 year −41.4% −84.2%

Total return, 1 year −27.4% (since launch on Nov 18, 2025) −65.0%

Benchmark return, 1 year −26.0% −52.5%

Ahead or behind −1.4 pts −12.5 pts

Return of capital, latest estimate 80% not published

Age 316 days 433 days

Net assets $5m $85m

MSST and MSTW on the same fields, as of Sep 30, 2026. Source: ETFIQ.

MSST in plain words

Over the period since launch on Nov 18, 2025 to Sep 30, 2026, MSST paid 13.6% of its starting value in cash distributions while its price fell 41.4%. With every distribution reinvested, the fund returned −27.4%. MicroStrategy (MSTR) returned −26.0% over the same days, so a holder was behind by 1.4 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 26.3%, paid weekly. YieldMax estimates that 80% of the distribution paid Sep 30, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).

MSTW in plain words

Over the year to Sep 30, 2026, MSTW paid 25.0% of its starting value in cash distributions while its price fell 84.2%. With every distribution reinvested, the fund returned −65.0%. MicroStrategy (MSTR) returned −52.5% over the same days, so a holder was behind by 12.5 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 99.2%, paid weekly.

Other comparisons

MSST vs MTYY MSST vs WNTR MSST vs MSTY MSST vs MSR MSTW vs MTYY MSTW vs WNTR MSTW vs MSTY MSTW vs MSR

MSST on its own →MSTW on its own →How every figure is computed →Standards and sources →

Where these figures came from

MSST 19a-1 distribution notice ↗YieldMax page for MSST ↗MSTW filings on SEC EDGAR ↗MSTW prospectus with the expense ratio (SEC) ↗Roundhill page for MSTW ↗

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, MSST against MSTW, data as of Sep 30, 2026. https://etfiq.com/compare/income/msst-vs-mstw

Open data

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