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Launched

GraniteShares Autocallable MSTR ETF

MSRNasdaqDThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.

$14.38+0.07 (+0.49%)

At close: Oct 13, 2026, 4:00 PM

D30/ 100

Rank 5 of 5 in MicroStrategy (MSTR) Option Income

D30/100Rank 5 of 5inMicroStrategy (MSTR) Option Income
Intraday session: up, 8 prints from 14.31 to 14.38. Range 14.35 to 14.41. Use the arrow keys to read each point.14.3414.3614.4010 AM12 PM2 PM4 PM
Expense ratio
1.07%
Fund size
$1M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
6
Avg volume · 30D
0M sh
NAV per share
$14.32
52W range
low $11.84high $25.22
Launched

The ETF.net MSR Grade

Based on 4 of 6 pillars

D

Score 30 out of 100

Category
MicroStrategy (MSTR) Option Income⁠
Rank
5 of 5
Six-pillar profile for MSR. Scores out of 100: Cost 21, Risk 48, Mission not scored, Tradability 30, Holdings not scored, Durability 40. Strongest: Risk (48). Weakest: Cost (21). Based on 4 of 6 pillars.

Score 30 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
31
This cap took
−0
Published Score
30 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F21 out of 100
    Rank 4 of 5

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C48 out of 100
    Rank 2 of 5

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D30 out of 100
    Rank 5 of 5

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C40 out of 100
    Rank 4 of 5

Our read on MSR

ETF.net Research

DThe MSTR income aisle is stacked with covered-call funds. MSR runs a different engine: a laddered book of autocallables, the structured-note payoff banks once sold to private clients, in an ETF that aims to pay coupon income monthly.

Stated mandate

The fund aims to generate monthly income by investing in a laddered portfolio of single-stock autocallable options linked to the performance of MicroStrategy Inc.

Why people hold it

  1. 01Not another covered-call fund. MSR holds autocallables on MSTR: a coupon may be paid while the stock sits above its coupon barrier, and a position terminates early and is reinvested once it clears the autocall barrier.graniteshares.comglobenewswire.com
  2. 02Laddered, not one big bet. Exposure is spread across autocallables with different barrier levels, so a single breach does not decide the whole portfolio's income, and positions roll on an ongoing basis.graniteshares.comgraniteshares.com
  3. 03Structured-note mechanics without the structured-note friction: no six-figure minimum, no lockup, no bank paperwork. GraniteShares listed the first single-stock autocallable ETFs in the US in 2026, and MSR joined that suite in May.graniteshares.comglobenewswire.com

Worth knowing

  1. 01Income here is contingent, not contractual. If MSTR sits below the coupon barrier on an observation date, that position pays nothing for the period, and the fund still carries equity-linked downside risk.graniteshares.comgraniteshares.com
  2. 02The payoff is coupons, not MSTR itself. Positions are called away above the autocall barrier and the cash rolls into a new autocallable, so a big run in the stock does not pass through the way ownership would.globenewswire.comgraniteshares.com
  3. 03Costs sit at the top of the MSTR income group: 1.07% a year, against 1.03% for MSTY and 0.99% for MSST. It is also a small, thinly traded fund with a short history, which can mean wider spreads.

MSR Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
6
Top-10 weight
100%
Largest holding
US Dollars96.3%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—US Dollars96.27%551,501$552K85
002—Nomura10 MSR0.89%110,000$5K1
003—Nomura9 MSR0.81%110,000$5K1
004—Nomura8 MSR0.74%110,000$4K1
005—Nomura7 MSR0.67%110,000$4K1
006—Nomura6 MSR0.62%110,000$4K1

Showing 1–6 of 6 holdings

MSR Performance

Launched May 12, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
MSR$11,332
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. MSR $11,332. SPY $10,332. Use the arrow keys to read each point.$9,528$10,505$11,482Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MSR. Periods over one year show the average yearly return.
PeriodMSR
Year to dateFund launched this year—
1 month+1.2%
3 months+13.3%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MSR
YearReturn barMSR
2026 YTD−33.7%

Since listing, May 12, 2026

MSR in the news

Filtered to MSR · MicroStrategy (MSTR) Option Income

MSR Dividends

Last payment
$0.54 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 3 payments in 2026 YTD. Jun 3, 2026 $0.72; Sep 9, 2026 $0.55; Oct 7, 2026 $0.54. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 7, 2026Oct 9, 2026$0.54
Sep 9, 2026Sep 11, 2026$0.55
Jun 3, 2026Jun 5, 2026$0.72

MSR Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched May 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched May 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched May 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.65
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MSR Cost

Expense ratio1.07%
  • The middle half of MicroStrategy (MSTR) Option Income funds
  • Median 1.03%

3 of the 5 MicroStrategy (MSTR) Option Income funds charge less.

MSR costs $107.00 a year on $10,000. The median MicroStrategy (MSTR) Option Income fund costs $103.00.

Other funds in MicroStrategy (MSTR) Option Income

See others