YieldMax MSTR Short Option Income Strategy ETF
This fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.
$14.98+0.23 (+1.56%)
History starts Mar 27, 2025.
- Expense ratio
- 1.00%
- Fund size
- $57M
- 1Y return
- +10.8%
- Yield · Last 12 months
- 195.23%
- Volume · 30D
- 0.2M sh
- NAV per share
- $14.62
- 52W range
The ETF.net WNTR Grade
Score 63 of 100 sits in the B 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.BScore 69Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 70Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 62Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 47Category 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 66Category rank
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
- —
- 135%
- United States Treasury Bill 07/08/2027
WNTR Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
WNTR$11,079
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 | WNTR |
|---|---|
| Year to date | −33.2% |
| 1 month | −25.9% |
| 3 months | −34.1% |
| 1 year | +10.8% |
| 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 | −33.2% | |
| 2025 | +53.9% |
WNTR in the news
WNTR Dividends
- 195.23%
- $28.80
- $0.24 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 17, 2026 | Sep 18, 2026 | $0.24 |
| Sep 10, 2026 | Sep 11, 2026 | $0.22 |
| Sep 3, 2026 | Sep 4, 2026 | $0.25 |
| Aug 27, 2026 | Aug 28, 2026 | $0.25 |
| Aug 20, 2026 | Aug 21, 2026 | $0.39 |
| Aug 13, 2026 | Aug 14, 2026 | $0.35 |
| Aug 6, 2026 | Aug 7, 2026 | $0.46 |
| Jul 30, 2026 | Jul 31, 2026 | $0.47 |
| Jul 23, 2026 | Jul 24, 2026 | $0.50 |
| Jul 16, 2026 | Jul 17, 2026 | $0.55 |
| Jul 9, 2026 | Jul 10, 2026 | $0.48 |
| Jul 2, 2026 | Jul 6, 2026 | $0.63 |
WNTR Risk
- 61.5%
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.
- 0.41
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.
- −2.07
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.