Which paid more, MSTW or WNTR?

Over the year to Sep 30, 2026, MSTW paid 25.0% of its starting price in cash and WNTR paid 85.5%, so WNTR paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, MSTW or WNTR?

With every distribution reinvested, MSTW returned −65.0% and WNTR +20.1% over the year to Sep 30, 2026.

Which is cheaper, MSTW or WNTR?

MSTW charges 1.00% a year and WNTR charges 1.00%, so MSTW is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

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

Over the year WNTR paid 85.5% of its price in cash against MSTW’s 25.0%, and returned more with it reinvested. Roundhill MSTR WeeklyPay ETF and YieldMax(R) MSTR Short Option Income Strategy ETF.

25.0%

MSTW cash paid, 1 year

85.5%

WNTR cash paid, 1 year

−65.0%

MSTW total return, 1 year

+20.1%

WNTR total return, 1 year

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

WNTR · 1 year to Sep 30, 202672.6 pts ahead of MSTR

WNTR

+20.1%

MSTR

−52.5%

72.6 pts ahead of MSTR

WNTR over 1 year: paid 85.5%, price −48.1%, total +20.1%, MSTR −52.5%, +72.6 pts.

MSTR

−52.5%

WNTR

+20.1%

85.5% as cash

72.6 pts ahead of MSTR

Total return, distributions reinvested

72.6 pts ahead of MSTR

WNTR over 1 year: paid 85.5%, price −48.1%, total +20.1%, MSTR −52.5%, +72.6 pts.

MSTR

−52.5%

WNTR

+20.1%

72.6 pts ahead of MSTR

85.5% of it arrived as cash. Both charts share one scale, 0 to +20.1%. WNTR over 1 year: paid 85.5%, price −48.1%, total +20.1%, MSTR −52.5%, +72.6 pts.

ETFIQ Return Stability Score · WNTR scores higherWas the payout funded by returns, or by your own capital?

MSTW 12.2

WNTR 73.6

7.2, the lowest in this set97.2, the highest

A percentile among the 70 income ETFs writing on a single company. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, MSTW and WNTR hold 0% 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 Sep 30, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding MSTW WNTR

Only in MSTW

MSTR US 10/02/26 C50 81.51%

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

Only in WNTR

TREASURY BILL 28.86%

TREASURY BILL 24.52%

TREASURY BILL 19.02%

TREASURY BILL 14.57%

TREASURY BILL 13.03%

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	MSTW	WNTR	MSTW	WNTR	MSTW	WNTR
3 months	+74.1%	−34.6%	23.1%	16.9%	+10.2 pts	−98.5 pts
6 months	+17.7%	−33.8%	33.7%	28.8%	−7.0 pts	−58.5 pts
1 year	−65.0%	+20.1%	25.0%	85.5%	−12.5 pts	+72.6 pts
Since launch MSTW Jul 2025 · WNTR Mar 2025	−74.5%	+10.0%	28.1%	80.9%	−11.4 pts	+62.8 pts

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

On the same fields

MSTW

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

WNTR

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

Issuer Roundhill YieldMax

Strategy option income synthetic covered call

Benchmark MicroStrategy (MSTR) MicroStrategy (MSTR)

Pays weekly weekly

Payout rate, annualized 99.2% 61.6%

Expense ratio 1.00% 1.00%

Cash paid, 1 year 25.0% 85.5%

Price change, 1 year −84.2% −48.1%

Total return, 1 year −65.0% +20.1%

Benchmark return, 1 year −52.5% −52.5%

Ahead or behind −12.5 pts +72.6 pts

Return of capital, latest estimate not published 95%

Age 433 days 552 days

Net assets $85m $57m

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

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.

WNTR in plain words

Over the year to Sep 30, 2026, WNTR paid 85.5% of its starting value in cash distributions while its price fell 48.1%. With every distribution reinvested, the fund returned +20.1%. MicroStrategy (MSTR) returned −52.5% over the same days, so a holder was ahead by 72.6 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 61.6%, paid weekly. YieldMax estimates that 95% 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).

Questions people ask

Which paid more, MSTW or WNTR?: Over the year to Sep 30, 2026, MSTW paid 25.0% of its starting price in cash and WNTR paid 85.5%, so WNTR paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, MSTW or WNTR?: With every distribution reinvested, MSTW returned −65.0% and WNTR +20.1% over the year to Sep 30, 2026.
Which is cheaper, MSTW or WNTR?: MSTW charges 1.00% a year and WNTR charges 1.00%, so MSTW is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

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

Where these figures came from

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

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

Open data

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