MSTY
YieldMax MSTR Option Income Strategy ETF
MSTY seeks to provide current income and capped gains on MSTR stock through a synthetic covered call strategy, collateralized by cash and US Treasurys. The actively managed fund uses both standardized exchange-traded and FLEX options.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
3.9 B
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | Tidal |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Feb 21, 2024 |
| Assets (mns) | $3,943 |
| Expense ratio | 99 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| CASH & OTHER | 41.3 % |
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 18.6 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 13.7 % |
| MSTR US 06/20/25 C390 | 12.5 % |
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 10.4 % |
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 6.3 % |
| UNITED STATES TREASURY BILL 06/12/2025 | 2.5 % |
| UNITED STATES TREASURY BILL 05/15/2025 | 1.6 % |
| MICROSTR CLL OPT 06/25 420 | 0.8 % |
| MICROSTR CLL OPT 05/25 480 | 0.3 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -7.5% | -13.0% | -- | -- | -- | -- | -- | 12.3% |
| Dividend Yield | 31.3% | 167.0% | -- | -- | -- | -- | -- | 189.1% |
| Total Returns | 23.8% | 154.0% | -- | -- | -- | -- | -- | 201.5% | Ann. Volatility | 85.4% | 76.3% | -- | -- | -- | -- | -- | 81.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 3.13 | 17% |
| MSCI EAFE | 1.49 | 4% |
| MSCI Emg Mkts | 2.33 | 5% |
Liquidity Measures
| Avg. volume (000) | 9,410 |
| ADV traded (mns) | $218 |
| Turnover | 5.5% |
| Avg. Bid/Ask (% of price) | 0.05% |
Technical Indicators
| Recent close | $23.20 |
| 30d moving avg. | $22.24 |
| Annualized volatility | 89.2% |
| Relative strength (RSI) | 53 |
| Short interest | 12.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| MSTY (99 bp) Percentile rank | 67 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MSTY | 99.0 | 4.7 | 103.7 |
| Peer Avg. | 90.5 | 32.3 | 122.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .