ETF Evaluator:
YieldMax MSTR Option Income Strategy ETF (MSTY)
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(as of Aug 06)
Best Performing in Derivative Income Over the Last Year
| 127.0% | YieldMax AMD Option Income Strategy ETF (AMDY) |
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ETF Details
YieldMax MSTR Option Income Strategy ETF Overview
YieldMax MSTR Option Income Strategy ETF (MSTY) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). YieldMax ETFs launched the ETF in 2024.
The investment seeks current income; the fund’s secondary investment objective is to seek exposure to the share price of the common stock of MicroStrategy Incorporated d/b/a Strategy, subject to a limit on potential investment gains.
The fund is an actively managed ETF that seeks current income while maintaining the opportunity for exposure to the share price of the common stock of MicroStrategy Incorporated, subject to a limit on potential investment gains. The fund is non-diversified.
About YieldMax MSTR Option Income Strategy ETF (MSTY)
There are 3 members of the management team with an average tenure of 1.09 years: Scott Snyder (2026), Jay Pestrichelli (2024) and Matt Brandt (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. YieldMax MSTR Option Income Strategy ETF has 31 securities in its portfolio. The top 10 holdings constitute 118.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
YieldMax MSTR Option Income Strategy ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. YieldMax MSTR Option Income Strategy ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -3.3% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 12.8% (12.8% domestic bond, 0.0% foreign bond and 0.0% convertible bond). YieldMax MSTR Option Income Strategy ETF has 62.9% of the portfolio in cash.
Assets Under Management
The fund has $756 million in total assets, which is above the $727 million average for the Derivative Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MSTY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The YieldMax MSTR Option Income Strategy ETF expense ratio is high compared to funds in the Derivative Income category. YieldMax MSTR Option Income Strategy ETF has an expense ratio of 1.03%, which is 24% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. YieldMax MSTR Option Income Strategy ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, YieldMax MSTR Option Income Strategy ETF returned 9.5%, which earned it a grade of A, as the Derivative Income category had an average return of -1.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
YieldMax MSTR Option Income Strategy ETF has a trailing yield of 36.21%, which is above the 19.96% category average.
The fund normally distributes its income weekly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
YieldMax MSTR Option Income Strategy ETF Grades
Year to date, the ETF has returned -32.8%, 35.4 percentage points worse than the category, which translates into a grade of F. The fund has returned -70.5% over the past year (grade of F).
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MSTY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MSTY Return (NAV) | 9.5% | -38.7% | -70.5% | na | na | na |
| MSTY Return (Price) | 9.4% | -38.7% | -70.5% | na | na | na |
| NAV +/- Price Return | 0.066% | -0.005% | -0.031% | na | na | na |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| MSTY Grade (NAV) | A | F | F | na | na | na |
| +/- Category (NAV) | 11.0% | -39.3% | -81.8% | na | na | na |
| MSTY Tax-Cost Ratio | na | na | 9.4% | na | na | na |
MSTY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MSTY Return (NAV) | -32.8% | -41.8% | na | na | na | na | na | na | na | na | na |
| MSTY Return (Price) | -32.9% | -41.9% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.003% | 0.004% | na | na | na | na | na | na | na | na | na |
| Derivative Income Avg | 2.6% | 10.6% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| MSTY Grade (NAV) | F | F | na | na | na | na | na | na | na | na | na |
| +/- Category | -35.4% | -52.4% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 36.2% |
| Total Assets: | $ 757 Mil |
| Share Class Assets: | $ 757 Mil |
| Turnover: | na |
| Expense Ratio: | 1.03% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Weekly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 2.4 years | |||
| Average Tenure: 1.1 years | |||
| Managers (Year): Pestrichelli Jay (2024), Brandt Matt (2026), Snyder Scott (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 31 |
| % in Top 10 Holdings: | 118.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | -3.3% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 12.8% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 27.6% |
| Cash: | 62.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | YieldMax ETFs |
| Phone Number: | 866-864-3968 |
| Website: | |
| Inception Date: | February 21, 2024 |
Expenses and Fees
| Expense Ratio (%): | 1.03% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
