MSST YieldMax MSTR Performance & Distribution Target 25 ETF
Synthetic covered call on SPY, paying weekly
Since its launch on Nov 18, 2025, MSST paid 12.8% in cash and still finished 52.7 points behind SPY.
Key facts
What a holder got
Over the year to Sep 11, 2026, MSST returned −35.9% with distributions reinvested and S&P 500 (SPY), used as a default proxy returned +16.8%, so a holder came out behind it by 52.7 points. The lighter segment is the 12.8% that arrived as cash rather than as price.
Period by period
| Window | Cash paid | Price | Total return | SPY | Ahead or behind |
|---|---|---|---|---|---|
| 3 months | 5.2% | −3.8% | +2.4% | +3.3% | −0.9 pts |
| 6 months | 10.6% | −23.5% | −13.2% | +16.0% | −29.3 pts |
| Since launch | 12.8% | −47.5% | −35.9% | +16.8% | −52.7 pts |
When MSST pays
MSST pays weekly. The last distribution was $0.1464 a share, which went ex on Sep 9, 2026, with payment about 1 day later. The issuer has set the next ex-date at Sep 15, 2026, payable Sep 16, 2026, but has not declared the amount.
| Ex-date | Pay date | Amount | Basis |
|---|---|---|---|
| Sep 15, 2026 | Sep 16, 2026 | $0.1464 | Date set by the issuer, amount not yet declared |
| Sep 22, 2026 | Sep 23, 2026 | $0.1464 | Date set by the issuer, amount not yet declared |
| Sep 29, 2026 | Sep 30, 2026 | $0.1464 | Date set by the issuer, amount not yet declared |
| Oct 6, 2026 | Oct 7, 2026 | $0.1464 | Date set by the issuer, amount not yet declared |
| Oct 13, 2026 | Oct 14, 2026 | $0.1464 | Date set by the issuer, amount not yet declared |
| Oct 20, 2026 | Oct 21, 2026 | $0.1464 | Date set by the issuer, amount not yet declared |
Every distribution ETFIQ holds for MSST (13, most recent first)
| Ex-date | Amount |
|---|---|
| Sep 9, 2026 | $0.1464 |
| Sep 1, 2026 | $0.1338 |
| Aug 25, 2026 | $0.1278 |
| Aug 18, 2026 | $0.1061 |
| Aug 11, 2026 | $0.1124 |
| Aug 4, 2026 | $0.1061 |
| Jul 28, 2026 | $0.1047 |
| Jul 21, 2026 | $0.1082 |
| Jul 14, 2026 | $0.1068 |
| Jul 7, 2026 | $0.1126 |
| Jun 30, 2026 | $0.0937 |
| Jun 23, 2026 | $0.127 |
| Jun 16, 2026 | $0.1358 |
Every income ETF going ex-dividend in the next fortnight
In plain words
Since it launched on Nov 18, 2025, MSST has returned −35.9% with distributions reinvested, against +16.8% for S&P 500 (SPY), used as a default proxy, and has paid out 12.8% of its starting value in cash along the way. It pays weekly, and at its current price the latest distribution annualizes to 27.3%. YieldMax estimates that 93% of the distribution paid Sep 10, 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.
| Strategy | synthetic covered call |
|---|---|
| Benchmark | S&P 500 (SPY), used as a default proxy (proxy) |
| Pays | weekly |
| Net assets (issuer page, as of Sep 11, 2026) | $3m |
| Latest payout, annualized (ETFIQ) | 27.3% |
| Expense ratio | not read by ETFIQ |
| Cash paid, last 12 months, over today’s price (ETFIQ) | 24.3% |
| Launched | Nov 18, 2025 |
| Return of capital, latest distribution (YieldMax 19a-1 estimate) | 93.4% |
| Pays | weekly |
| Typical gap between ex-dates | 7 days |
| Typical wait from ex-date to payment | 1 day |
| Last paid, per share | $0.1464 ex Sep 9, 2026 |
| Sum of the last 12 distributions | $1.3856 |
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 MSST paid over the last year?
- Over the period from its launch on Nov 18, 2025 to Sep 11, 2026, MSST paid 12.8% of its starting price in cash distributions, while the price fell 47.5%.
- Is MSST ahead of SPY?
- Over the period from its launch on Nov 18, 2025 to Sep 11, 2026, with every distribution reinvested, MSST returned −35.9% against +16.8% for S&P 500 (SPY), used as a default proxy, so a holder was behind it by 52.7 points.
- How often does MSST pay, and how much?
- MSST pays weekly. The latest distribution annualizes to 27.3% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
- Is the MSST distribution return of capital?
- YieldMax estimates 93% of the distribution paid Sep 10, 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 MSST next pay a distribution?
- MSST pays weekly. The last distribution went ex on Sep 9, 2026 at $0.1464 a share. The issuer has set the next ex-date at Sep 15, 2026 but not the amount.
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.
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Cite this page. ETFIQ, MSST, income ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/msst Free to use with attribution; the underlying files are at Open data.