MSST vs WNTR

MSSTBYieldMax MSTR Performance & Distribution Target 25 ETF

WNTRBYieldMax MSTR Short Option Income Strategy ETF

In short

MSST YieldMax's second act on MSTR: instead of squeezing out the biggest possible payout, MSST aims at a set 25% annual distribution rate and sells call spreads, deliberately leaving room to participate in Strategy's share price.

WNTR Most 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

MSST MSST is actively managed to provide weekly income and potential capital appreciation through synthetic exposure to Strategy Inc (MSTR), using long calls, short puts, and call spreads.

WNTR 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

• MSST The dial is set, not maxed. MSST targets a 25% annualized distribution rate rather than harvesting every premium available, and uses call spreads on a synthetic MSTR position to keep some upside participation in play.yieldmaxetfs.com
• Income arrives on a weekly schedule, one of the fastest cadences in the single-stock options-income world.globenewswire.com
• At 0.99%, the fee sits a touch under the MSTR income crowd, including stablemate MSTY (1.03%) and GraniteShares' MTYY (1.07%).
• A cleaner mandate than the yield-chase version: the stated aim is weekly income plus potential capital appreciation, managed with a growth-aware approach rather than maximum premium capture.yieldmaxetfs.com

• WNTR 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

• MSST The 25% is a target, not a promise. YieldMax states plainly it is not a guarantee and does not represent a 25% yield or total return; payouts hinge on what option premiums deliver.globenewswire.com
• One stock, held synthetically. The fund never owns MSTR shares; exposure comes from long calls and short puts, and the sold call spreads mean big rallies get captured in part, not in full.globenewswire.com
• Young and small. Launched in late 2025 as part of YieldMax's first Target 25 trio, it remains a lightly traded fund, so bid-ask spreads can run wider than the older MSTR income names.etfgi.com

• WNTR 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

Full MSST profile⁠

Full WNTR profile⁠