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WNTR YieldMax(R) MSTR Short Option Income Strategy ETF

Synthetic covered call on MSTR, paying weekly

Over the year to Sep 11, 2026, WNTR paid 83.8% in cash and finished 94.6 points ahead of MSTR.

YieldMax · Income ETFs · data as of

Key facts

83.8%Cash paid, 1 year, on its starting price
+34.8%Total return, 1 year
+94.6 ptsAgainst MSTR
0.0%Return of capital, latest payout (YieldMax estimate)

Method

ETFIQ Return Stability Score

72.29th of 61

WNTR paid 83.8% in cash. Its price fell 45.9%, so 55% 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 ptsMSFO +1.8 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 ptsWNTR +94.6 pts−136.8 pts+94.6 pts

99.2% of the 61 sit at or below WNTR 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%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%MSFO −29.8%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%WNTR −45.9%WNTR −45.9%−87.3%+93.7%

45.1% of the 61 sit at or below WNTR 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+94.6 pts99.250%
what happened to the principal−45.9%45.150%

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

What a holder got

WNTR against MSTRWNTR returned +34.8% with distributions reinvested against −59.8% for MicroStrategy (MSTR), a gap of +94.6 pts. Of that, 83.8% arrived as cash rather than price.+34.8%WNTR total return−59.8%MicroStrategy (MSTR)83.8% of it arrived as cash

Over the year to Sep 11, 2026, WNTR returned +34.8% with distributions reinvested and MicroStrategy (MSTR) returned −59.8%, so a holder came out ahead of it by 94.6 points. The lighter segment is the 83.8% that arrived as cash rather than as price.

Method

Period by period

WNTR over each window to Sep 11, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnMSTRAhead or behind
3 months21.6%−28.8%−11.4%+5.7%−17.0 pts
6 months32.2%−44.2%−16.5%−6.2%−10.3 pts
1 year83.8%−45.9%+34.8%−59.8%+94.6 pts
Since launch80.0%−63.2%+26.9%−59.6%+86.5 pts

Method

When WNTR pays

WNTR pays weekly. The last distribution was $0.2169 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 15, 2026, payable Sep 16, 2026, but has not declared the amount.

Expected distributions for WNTR. 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 15, 2026Sep 16, 2026$0.2169Date set by the issuer, amount not yet declared
Sep 22, 2026Sep 23, 2026$0.2169Date set by the issuer, amount not yet declared
Sep 29, 2026Sep 30, 2026$0.2169Date set by the issuer, amount not yet declared
Oct 6, 2026Oct 7, 2026$0.2169Date set by the issuer, amount not yet declared
Oct 13, 2026Oct 14, 2026$0.2169Date set by the issuer, amount not yet declared
Oct 20, 2026Oct 21, 2026$0.2169Date set by the issuer, amount not yet declared
Every distribution ETFIQ holds for WNTR (13, most recent first)
Cash distributions per share for WNTR. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Sep 10, 2026$0.2169
Sep 3, 2026$0.2469
Aug 27, 2026$0.2499
Aug 20, 2026$0.3892
Aug 13, 2026$0.3535
Aug 6, 2026$0.4613
Jul 30, 2026$0.4717
Jul 23, 2026$0.4992
Jul 16, 2026$0.5531
Jul 9, 2026$0.4849
Jul 2, 2026$0.6252
Jun 25, 2026$0.575
Jun 18, 2026$0.4702

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Mar 27, 2025, WNTR has returned +26.9% with distributions reinvested, against −59.6% for MicroStrategy (MSTR), and has paid out 80.0% of its starting value in cash along the way. It pays weekly, and at its current price the latest distribution annualizes to 61.2%. YieldMax estimates that 0% 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.

WNTR (YieldMax(R) MSTR Short Option Income Strategy ETF), income ETFs fields as of Sep 11, 2026. Source: ETFIQ.
Strategysynthetic covered call
BenchmarkMicroStrategy (MSTR)
Paysweekly
Net assets (issuer page, as of Sep 11, 2026)$67m
Latest payout, annualized (ETFIQ)61.2%
Expense ratio (485BPOS XBRL, Nov 21, 2025)1.00%
Cash paid, last 12 months, over today’s price (ETFIQ)154.9%
LaunchedMar 27, 2025
Return of capital, latest distribution (YieldMax 19a-1 estimate)0.0%
Paysweekly
Typical gap between ex-dates7 days
Typical wait from ex-date to payment1 day
Last paid, per share$0.2169 ex Sep 10, 2026
Sum of the last 12 distributions$5.1268

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 WNTR paid over the last year?
Over the year to Sep 11, 2026, WNTR paid 83.8% of its starting price in cash distributions, while the price fell 45.9%.
Is WNTR ahead of MSTR?
Over the year to Sep 11, 2026, with every distribution reinvested, WNTR returned +34.8% against −59.8% for MicroStrategy (MSTR), so a holder was ahead of it by 94.6 points.
How often does WNTR pay, and how much?
WNTR pays weekly. The latest distribution annualizes to 61.2% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
Is the WNTR distribution return of capital?
YieldMax estimates 0% 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 WNTR next pay a distribution?
WNTR pays weekly. The last distribution went ex on Sep 10, 2026 at $0.2169 a share. The issuer has set the next ex-date at Sep 15, 2026 but not the amount.
What does WNTR cost?
The prospectus expense ratio is 1.00% 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.

Funds near this one

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WNTR payout bar, ETFIQ

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Where WNTR is written about

WNTR, 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 WNTR live on ETFIQ, where the figures refresh with the data.

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

How these figures are computed · Standards and sources