MSSTYieldMax MSTR Performance & Distribution Target 25 ETF
Seeks current income, with a secondary objective of indirect exposure to MicroStrategy (MSTR) share price, generally subject to a limit on gains.
By YieldMax ETFs · Launched 2025
0.99%
#4,898 of 5,562 · expensive
$4M
#5,171 of 5,562 · small
—
7 months
#4,980 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 1 holdings = 3.0% of fund✓ well diversified
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks current income, with a secondary objective of indirect exposure to MicroStrategy (MSTR) share price, generally subject to a limit on gains.
- Strategy
- Actively managed ETF combining synthetic long exposure to MicroStrategy (MSTR) common stock — built from long call and short put options — with options strategies, most often a covered call spread, that sell options to generate weekly premiums targeting a 25% annual cash distribution. Maintains 50-100% in cash, money market funds, or U.S. Treasuries as collateral for the derivative positions.
- Inception date
- November 17, 2025
- Fund family
- YieldMax ETFs
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_strategy
Single-stock wrapper — fees without diversification
This fund wraps exposure to a single company, usually with an option overlay. You pay fund-level fees (typically 0.50–1.00% depending on the issuer) plus the wrapper's option-overlay mechanics for exposure you could get more cheaply by holding the underlying stock directly. The income is generated by capping upside.
Source: Israelov & Nielsen, 'Covered Calls Uncovered' (Financial Analysts Journal 2015)
Why we flagged this: strategy=option_income + single_stock_wrapper
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-19