YieldMax MSTR Short Option Income Strategy ETF
BThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.
$15.30−0.04 (−0.23%)
- 1.00%
- $56M
- +19.7%
- 169.68%
- 0.2M sh
- $15.14
- low $14.12high $45.53
The ETF.net WNTR Grade
B
Score 63 out of 100
- 1 of 5
Score 63 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B69 out of 100Rank 1 of 5Mission
Whether the fund did what it promised, tested against its stated mandate.A70 out of 100Rank 1 of 4Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B60 out of 100Rank 1 of 5Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C47 out of 100Rank 3 of 5Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B66 out of 100Rank 2 of 5
Our read on WNTR
BMost MSTR income funds ride with the stock. WNTR leans the other way: an unleveraged synthetic short on Strategy Inc, puts sold against it, Treasuries as collateral. A bearish stance converted into option premium, with capped gains and real pain if MSTR climbs.
The Fund seeks current income through a synthetic covered put strategy that provides indirect inverse exposure to the share price returns of MSTR and generates option premiums.
Why people hold it
- The bearish sibling in a bullish niche: a long at-the-money put paired with a short at-the-money call builds inverse MSTR exposure, then puts are written against it to harvest premium.globenewswire.com
- The inverse leg carries no leverage, so it tracks against MSTR roughly one-for-one instead of multiplying the move. US Treasuries sit behind the options as collateral and add their own yield.globenewswire.com
- The 1.00% fee sits right at the median for MSTR option-income funds (MSTY, IMST, MSST), and this one stands among the stronger implementations in that group.
Worth knowing
- Asymmetric by design: gains when MSTR falls are capped by the puts it sells, while losses if MSTR rises can reach up to 100%.globenewswire.com
- Payouts can include return of capital, so part of a distribution may be your own money handed back rather than income the strategy earned.
- Launched in 2025 and it never holds or directly shorts MSTR. Everything runs through options, so the history is short and results can drift from a straight short position.globenewswire.com
WNTR Holdings
- Other
- 15
- 130%
- United States Treasury Note/Bond 2.375% 05/15/2027
WNTR Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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WNTR$11,967
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.
| Period | WNTR |
|---|---|
| Year to date | −27.8% |
| 1 month | −12.4% |
| 3 months | −33.0% |
| 1 year | +19.7% |
| 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 | WNTR |
|---|---|---|
| 2026 YTD | −27.8% | |
| 2025 | +53.9% |
WNTR in the news
WNTR Dividends
- 169.68%
- $26.06
- $0.18 per share
- Weekly
Distribution history
WNTR Risk
- 60.8%
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.
- 0.25
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.
- −45.7%
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.
- −1.88
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
WNTR Cost
1.00%
WNTR1.00%
- The middle half of MicroStrategy (MSTR) Option Income funds
- Median 1.03%
1 of the 5 MicroStrategy (MSTR) Option Income funds charge less.
Other funds in MicroStrategy (MSTR) Option Income
- CMSTYYieldMax MSTR Option Income Strategy ETFExpense ratio 1.03%1 year return −42.9%
- CMSSTYieldMax MSTR Performance & Distribution Target 25 ETFExpense ratio 0.99%1 year return —
- DMTYYGraniteShares YieldBOOST MSTR ETFExpense ratio 1.07%1 year return −65.1%
- DMSRGraniteShares Autocallable MSTR ETFExpense ratio 1.07%1 year return —