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

MSST and MSTY both write options for income. YieldMax MSTR Performance & Distribution Target 25 ETF and YieldMax(R) MSTR Option Income Strategy ETF.

13.6%

MSST cash paid, since launch

32.3%

MSTY cash paid, 1 year

−27.4%

MSST total return, since launch

−47.1%

MSTY 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.

MSTY · 1 year to Sep 30, 20265.4 pts ahead of MSTR

MSTY

−47.1%

MSTR

−52.5%

5.4 pts ahead of MSTR

MSTY over 1 year: paid 32.3%, price −77.0%, total −47.1%, MSTR −52.5%, +5.4 pts.

MSTR

−52.5%

MSTY

−47.1%

5.4 pts ahead of MSTR

Total return, distributions reinvested

5.4 pts ahead of MSTR

MSTY over 1 year: paid 32.3%, price −77.0%, total −47.1%, MSTR −52.5%, +5.4 pts.

MSTR

−52.5%

MSTY

−47.1%

5.4 pts ahead of MSTR

32.3% of it arrived as cash. Both charts share one scale, 0 to −26.0%. MSTY over 1 year: paid 32.3%, price −77.0%, total −47.1%, MSTR −52.5%, +5.4 pts.

What they hold in common

By the books each fund has filed, MSST and MSTY hold 16% 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 Jul 31, 2026 and Oct 1, 2026.

50%

half

16% in common

Positions both hold, largest shared weight first

Holding MSST MSTY

United States Treasury Bill 12/10/2026 22.10% 12.54%

United States Treasury Bill 02/18/2027 20.61% 3.94%

Only in MSST

MSTR 11/20/2026 135.01 C 46.55%

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

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

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%

2MSTR US 11/20/26 P135.01 FLX -11.86%

Only in MSTY

TREASURY BILL 36.59%

TREASURY BILL 25.38%

TREASURY BILL 21.55%

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	MSTY	MSST	MSTY	MSST	MSTY
3 months	+50.9%	+52.6%	7.3%	22.8%	−13.1 pts	−11.3 pts
6 months	+9.6%	+15.9%	11.7%	35.5%	−15.1 pts	−8.8 pts
1 year	not published	−47.1%	not published	32.3%	not published	+5.4 pts
Since launch MSST Nov 2025 · MSTY Feb 2024	−27.4%	+77.4%	13.6%	223.7%	−1.4 pts	−37.2 pts

MSST and MSTY 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

MSTY

YieldMax(R) MSTR Option Income Strategy ETF · Synthetic covered call on MSTR, paying weekly

Issuer YieldMax YieldMax

Strategy synthetic covered call synthetic covered call

Benchmark MicroStrategy (MSTR) MicroStrategy (MSTR)

Pays weekly weekly

Payout rate, annualized 26.3% 110.8%

Expense ratio not published 0.99%

Cash paid, 1 year 13.6% (since launch on Nov 18, 2025) 32.3%

Price change, 1 year −41.4% −77.0%

Total return, 1 year −27.4% (since launch on Nov 18, 2025) −47.1%

Benchmark return, 1 year −26.0% −52.5%

Ahead or behind −1.4 pts +5.4 pts

Return of capital, latest estimate 80% 99%

Age 316 days 951 days

Net assets $5m $1.1bn

MSST and MSTY 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).

MSTY in plain words

Over the year to Sep 30, 2026, MSTY paid 32.3% of its starting value in cash distributions while its price fell 77.0%. With every distribution reinvested, the fund returned −47.1%. MicroStrategy (MSTR) returned −52.5% over the same days, so a holder was ahead by 5.4 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 110.8%, paid weekly. YieldMax estimates that 99% of the distribution paid Oct 2, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).

Other comparisons

MSST vs MSTW MSST vs MTYY MSST vs WNTR MSST vs MSR MSTY vs SDTY MSTY vs SPYI MSTY vs TSLY MSTY vs ULTY

MSST on its own →MSTY 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 ↗MSTY filings on SEC EDGAR ↗MSTY prospectus with the expense ratio (SEC) ↗MSTY 19a-1 distribution notice ↗YieldMax page for MSTY ↗

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 MSTY, data as of Sep 30, 2026. https://etfiq.com/compare/income/msst-vs-msty

Open data

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