MSTY vs WNTR

MSTYCYieldMax MSTR Option Income Strategy ETF

WNTRBYieldMax MSTR Short Option Income Strategy ETF

In short

MSTY The fund that turns Strategy's wild swings into a paycheck. MSTY holds synthetic MSTR exposure and sells call spreads for premium income. It launched in 2024 and now anchors a whole cohort of MSTR income funds, including two from its own issuer.

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

MSTY MSTY is actively managed to seek weekly income by selling call spreads on Strategy Inc. while retaining participation in potential appreciation of that company’s shares.

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

• MSTY Sells call spreads rather than plain calls, so upside is capped through a band instead of shut off above a single strike.
• The payout engine is option premium on Strategy Inc., not company dividends, and cash goes out on a monthly cadence.
• One of the actively traded names in the MSTR income group, with a sizable asset base behind it.
• Sits in the upper half of the six-fund MSTR options-income group, ahead of MTYY and MSST on our review.

• 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

• MSTY At 1.03% a year it runs above the group median and above Bitwise's IMST at 0.96%. Active option management is not a cheap wrapper.
• Exposure is synthetic and tied to one famously volatile stock, so the share price can slide well below where it started while distributions keep arriving.
• It opened in 2024, so the track record covers a short stretch rather than a full market cycle.

• 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 MSTY profile⁠

Full WNTR profile⁠