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.
$16.23+1.28 (+8.56%)
- 1.00%
- $52M
- +13.3%
- 149.20%
- 160K sh
- low $14.12high $45.53
The ETF.net WNTR Grade
B
Score 65 out of 100
- 1 of 5
Score 65 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.B68 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.B61 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.C53 out of 100Rank 2 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.B69 out of 100Rank 2 of 5
Our read on WNTR
In short
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.
Stated mandate
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
Worth knowing
WNTR Performance
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.
WNTR$11,328
Returns run to the Nov 5, 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 | −19.6% |
| 1 month | +18.6% |
| 3 months | −24.4% |
| 1 year | +13.3% |
| 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 | −19.6% | |
| 2025 | +53.9% |
WNTR in the news
WNTR Dividends
- 149.20%
- $24.22
- $0.26 per share
- Weekly
WNTR Risk
- 59.5%
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.
- 0.35
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.
- −1.93
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
WNTR Cost
Overpaying vs MSST, cheapest in MicroStrategy (MSTR) Option Income
$163
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
WNTR 1.00%
$18,688
MSST 0.99% Cheapest
$18,525
Cost over time
Year by year
| Year | WNTR | MSST | Overpaying |
|---|---|---|---|
| 10 | $1,763 | $1,746 | $17 |
| 20 | $6,625 | $6,565 | $60 |
| 30 | $18,688 | $18,525 | $163 |
Other funds in MicroStrategy (MSTR) Option Income
- BMSSTYieldMax MSTR Performance & Distribution Target 25 ETFExpense ratio 0.99%1 year return
- CMSTYYieldMax MSTR Option Income Strategy ETFExpense ratio 1.03%1 year return −43.9%
- DMTYYGraniteShares YieldBOOST MSTR ETFExpense ratio 1.18%1 year return −58.5%
- DMSRGraniteShares Autocallable MSTR ETFExpense ratio 1.18%1 year return
