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MSFO YieldMax(R) MSFT Option Income Strategy ETF

Synthetic covered call on MSFT, paying weekly

Over the year to Sep 11, 2026, MSFO paid 28.6% in cash and finished 1.8 points ahead of MSFT.

YieldMax · Income ETFs · data as of

Key facts

28.6%Cash paid, 1 year, on its starting price
+1.5%Total return, 1 year
+1.8 ptsAgainst MSFT
91.7%Return of capital, latest payout (YieldMax estimate)

Method

ETFIQ Return Stability Score

69.7joint 10th of 61

MSFO paid 28.6% in cash. Its price fell 29.8%, so 100% of what you were paid came back out of your own capital.

Was the payout funded by returns, or by your own capital?

Against its benchmark
MRNY −136.8 ptsAMDY −66.7 ptsDIPS −37.9 ptsXOMO −20.9 ptsTQQY −20.2 ptsAPLY −18.6 ptsGOOP −17.6 ptsTSYY −16.1 ptsMARO −15.2 ptsCOYY −11.8 ptsTSMY −11.7 ptsMSTW −11.4 ptsHOOW −10.9 ptsCOIW −10.5 ptsPLTW −9.8 ptsTSLP −9.1 ptsXYZY −8.9 ptsGOOY −8.5 ptsAAPY −8.4 ptsNFLW −7.7 ptsAMZP −7.2 ptsGMEY −7.2 ptsHCOW −7.2 ptsTSLW −7.0 ptsMETW −6.9 ptsYSPY −6.8 ptsAVGW −6.6 ptsMSFY −6.6 ptsAIYY −5.6 ptsSMCY −5.3 ptsNFLP −4.7 ptsMSFW −4.6 ptsAMZY −4.0 ptsHOOY −3.8 ptsSNOY −3.6 ptsBRKW −3.5 ptsFBY −3.5 ptsAMZW −3.1 ptsCRSH −2.2 ptsNVDW −1.8 ptsPYPY −1.8 ptsTSII −1.8 ptsDRAY −1.4 ptsBRKC −0.9 ptsNVDY −0.2 ptsGOOW +1.7 ptsRBLY +1.8 ptsNVII +2.3 ptsRDYY +3.7 ptsNFLY +4.0 ptsAAPW +4.1 ptsTSLY +4.8 ptsBABO +4.9 ptsCONY +4.9 ptsCVNY +5.3 ptsMSTY +5.5 ptsPLTY +5.5 ptsAMDW +47.3 ptsFIAT +70.4 ptsWNTR +94.6 ptsMSFO +1.8 ptsMSFO +1.8 pts−136.8 pts+94.6 pts

76.2% of the 61 sit at or below MSFO on this measure.

What happened to the principal
MSTW −87.3%COYY −86.8%RBLY −81.7%MSTY −80.9%COIW −79.2%MARO −75.6%CONY −72.9%DRAY −72.2%RDYY −71.3%AIYY −71.0%TSYY −69.7%SMCY −64.1%NFLW −62.3%HOOY −59.8%HOOW −59.2%BABO −56.9%NFLY −55.1%GMEY −52.9%PYPY −51.8%CVNY −51.5%PLTW −50.4%NFLP −50.2%XYZY −48.1%CRSH −46.9%TSLW −46.8%TSII −46.5%METW −46.0%WNTR −45.9%DIPS −45.5%FIAT −45.3%AVGW −44.5%FBY −44.3%TSLY −44.2%PLTY −43.6%TQQY −35.3%MSFW −31.5%AMZY −30.5%TSLP −30.0%AMZW −25.8%SNOY −25.4%YSPY −25.3%NVDW −24.5%MSFY −24.1%NVDY −23.6%NVII −23.1%BRKW −17.8%BRKC −16.0%GOOY −15.1%AMZP −12.9%APLY −9.6%XOMO −6.9%TSMY −5.0%GOOW −2.2%HCOW +1.6%GOOP +7.3%AAPW +11.3%AMDY +19.5%AAPY +20.6%MRNY +85.5%AMDW +93.7%MSFO −29.8%MSFO −29.8%−87.3%+93.7%

63.1% of the 61 sit at or below MSFO on this measure.

Weighted evenly, those two positions are what the score combines, across the 61 income ETFs writing on a single company. Neither spread above is the score: a fund can sit further right on one and score lower. A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

What the score is computed from
What it measuresThis fundIts percentileWeight
against its benchmark+1.8 pts76.250%
what happened to the principal−29.8%63.150%

All income ETFs ranked by this score · How it is computed

What a holder got

MSFO against MSFTMSFO returned +1.5% with distributions reinvested against −0.3% for Microsoft (MSFT), a gap of +1.8 pts. Of that, 28.6% arrived as cash rather than price.+1.5%MSFO total return−0.3%Microsoft (MSFT)28.6% of it arrived as cash

Over the year to Sep 11, 2026, MSFO returned +1.5% with distributions reinvested and Microsoft (MSFT) returned −0.3%, so a holder came out ahead of it by 1.8 points. The lighter segment is the 28.6% that arrived as cash rather than as price.

Method

Period by period

MSFO over each window to Sep 11, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnMSFTAhead or behind
3 months11.8%+10.1%+22.9%+27.1%−4.2 pts
6 months21.0%−2.4%+21.4%+25.8%−4.5 pts
1 year28.6%−29.8%+1.5%−0.3%+1.8 pts
3 years79.0%−41.6%+50.9%+52.9%−1.9 pts
Since launch81.3%−39.9%+55.4%+57.0%−1.6 pts

Method

When MSFO pays

MSFO pays weekly. The last distribution was $0.0608 a share, which went ex on Sep 10, 2026, with payment about 1 day later. The issuer has set the next ex-date at Sep 17, 2026, payable Sep 18, 2026, but has not declared the amount.

Expected distributions for MSFO. Where the basis is a projection, ETFIQ has carried the fund’s own spacing forward from its last ex-date and held the amount at the last one paid; neither is an issuer statement. Source: ETFIQ.
Ex-datePay dateAmountBasis
Sep 17, 2026Sep 18, 2026$0.0608Date set by the issuer, amount not yet declared
Sep 24, 2026Sep 25, 2026$0.0608Date set by the issuer, amount not yet declared
Oct 1, 2026Oct 2, 2026$0.0608Date set by the issuer, amount not yet declared
Oct 8, 2026Oct 9, 2026$0.0608Date set by the issuer, amount not yet declared
Oct 15, 2026Oct 16, 2026$0.0608Date set by the issuer, amount not yet declared
Oct 22, 2026Oct 23, 2026$0.0608Date set by the issuer, amount not yet declared
Every distribution ETFIQ holds for MSFO (13, most recent first)
Cash distributions per share for MSFO. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Sep 10, 2026$0.0608
Sep 3, 2026$0.0966
Aug 27, 2026$0.143
Aug 20, 2026$0.1409
Aug 13, 2026$0.2244
Aug 6, 2026$0.1923
Jul 30, 2026$0.0772
Jul 23, 2026$0.0724
Jul 16, 2026$0.0591
Jul 9, 2026$0.0579
Jul 2, 2026$0.066
Jun 25, 2026$0.0563
Jun 18, 2026$0.0585

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Aug 25, 2023, MSFO has returned +55.4% with distributions reinvested, against +57.0% for Microsoft (MSFT), and has paid out 81.3% of its starting value in cash along the way. It pays weekly, and at its current price the latest distribution annualizes to 26.1%. YieldMax estimates that 92% of the distribution paid Sep 11, 2026 was a return of capital. That is the issuer’s own Rule 19a-1 estimate and a tax characterization, made before the fund year closes: it says the payment included money the fund gave back rather than earned, not that the fund is eroding.

MSFO (YieldMax(R) MSFT Option Income Strategy ETF), income ETFs fields as of Sep 11, 2026. Source: ETFIQ.
Strategysynthetic covered call
BenchmarkMicrosoft (MSFT)
Paysweekly
Net assets (issuer page, as of Sep 11, 2026)$105m
Latest payout, annualized (ETFIQ)26.1%
Expense ratio (485BPOS XBRL, Feb 24, 2026)1.03%
Cash paid, last 12 months, over today’s price (ETFIQ)40.8%
LaunchedAug 25, 2023
Return of capital, latest distribution (YieldMax 19a-1 estimate)91.7%
Paysweekly
Typical gap between ex-dates7 days
Typical wait from ex-date to payment1 day
Last paid, per share$0.0608 ex Sep 10, 2026
Sum of the last 12 distributions$1.2469

Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed

Questions people ask

How much has MSFO paid over the last year?
Over the year to Sep 11, 2026, MSFO paid 28.6% of its starting price in cash distributions, while the price fell 29.8%.
Is MSFO ahead of MSFT?
Over the year to Sep 11, 2026, with every distribution reinvested, MSFO returned +1.5% against −0.3% for Microsoft (MSFT), so a holder was ahead of it by 1.8 points.
How often does MSFO pay, and how much?
MSFO pays weekly. The latest distribution annualizes to 26.1% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
Is the MSFO distribution return of capital?
YieldMax estimates 92% of the distribution paid Sep 11, 2026 was return of capital. That is a tax characterization from the fund's own 19a-1 notice, not a measure of erosion.
When does MSFO next pay a distribution?
MSFO pays weekly. The last distribution went ex on Sep 10, 2026 at $0.0608 a share. The issuer has set the next ex-date at Sep 17, 2026 but not the amount.
What does MSFO cost?
The prospectus expense ratio is 1.03% a year.

The words on this page

Total return
What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.

Every term used here, defined in full on the income ETFs vocabulary page.

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

Compare MSFO

Also against QYLD, XYLD, RYLD, DIVO, GPIX, GPIQ, TSLY, NVDY, MSTY, CONY, ULTY, YMAX, FEPI, XDTE, QDTE, AIPI, BALI, ISPY, AMZY, APLY, GOOY, OARK, SDTY, IVV, QQQ, SCHD, SPY, VOO, VTI, VYM.

Funds near this one

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MSFO payout bar, ETFIQ

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Where MSFO is written about

MSFO, Income ETFs, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. ETFIQ is an independent publisher, is not a fund issuer, broker-dealer or investment adviser, and makes no recommendations.
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Open MSFO live on ETFIQ, where the figures refresh with the data.

Cite this page. ETFIQ, MSFO, income ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/msfo Free to use with attribution; the underlying files are at Open data.

How these figures are computed · Standards and sources