Leveraged Long + Income MSTR ETF
$16.40−0.98 (−5.64%)
- Expense ratio
- 2.02%
- Fund size
- $35M
- 1Y return
- −87.0%
- Yield · Last 12 months
- 276.77%
- Holdings
- 17
- Volume · 30D
- 0.1M sh
- NAV per share
- $17.65
- 52W range
The ETF.net MST Grade
Score 16 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 0Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.FScore 0Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.FScore 11Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 65Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 62Category rank
Our read on MST
FTwo aggressive ideas welded into one ticker: daily-reset leverage on MSTR plus an options income overlay. Defiance packages leveraged exposure and a monthly distribution schedule into a single fund, no margin account required.
The Fund seeks long-term capital appreciation and, secondarily, current income. It uses derivatives for approximately 150%–200% daily exposure to MSTR and sells credit call spreads to generate premium income and manage leveraged-exposure risk.
Why people hold it
- Leverage and an income overlay live in one wrapper: no margin account, no options approvals, no daily rebalancing chores on your end.
- Distributions run on a monthly cadence, a rhythm income-focused holders can plan around.
- Moderately traded despite a small asset base, so ordinary retail-size orders usually find the other side without drama.
Worth knowing
- The fee is 1.31%, above what the typical single-stock income fund charges. Cheaper options sit in the same cohort (TSMY, BRKC).
- Leverage resets daily. Hold longer than a day and the result depends on the path MSTR takes, with choppy stretches eroding value.
- Launched in 2025 and still small, so there is thin history for judging a full market cycle. Cost and volatility place it in the back of its peer group.
MST Holdings
- Other
- 17
- 200%
- STRATEGY INC SWAP MAREX
MST Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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.
| Period | MST |
|---|---|
| Year to date | −35.7% |
| 1 month | +62.0% |
| 3 months | +65.7% |
| 1 year | −87.0% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | MST |
|---|---|---|
| 2026 YTD | −35.7% | |
| 2025 | −88.0% |
MST in the news
ETF.net Research hasn’t filed on MST yet — coverage lands here as it’s written.
MST Dividends
- 276.77%
- $48.09
- $0.10 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 16, 2026 | Sep 17, 2026 | $0.10 |
| Sep 9, 2026 | Sep 10, 2026 | $0.11 |
| Sep 2, 2026 | Sep 3, 2026 | $0.11 |
| Aug 26, 2026 | Aug 27, 2026 | $0.08 |
| Aug 19, 2026 | Aug 20, 2026 | $0.07 |
| Aug 12, 2026 | Aug 13, 2026 | $0.07 |
| Aug 5, 2026 | Aug 6, 2026 | $0.08 |
| Jul 29, 2026 | Jul 30, 2026 | $0.09 |
| Jul 22, 2026 | Jul 23, 2026 | $0.09 |
| Jul 15, 2026 | Jul 16, 2026 | $0.09 |
| Jul 8, 2026 | Jul 9, 2026 | $0.07 |
| Jul 1, 2026 | Jul 2, 2026 | $0.07 |
MST Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 127.1%
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.
- −0.90
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.
- −97.7%
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.
- 5.47
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MST Cost
- The middle half of Single-Stock Option Income funds
- Median 1.07%
Every other Single-Stock Option Income fund charges less.