MST
Defiance Leveraged Long + Income MSTR ETF·NASDAQ
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Key Stats
Assets Under Management
16.21MUSD
Fund Flows (1Y)
148.65MUSD
Dividend Yield
570.31%
Discount/Premium to NAV
0.73%
Shares Outstanding
4.17M
Expense Ratio
1.31%
About Defiance Leveraged Long + Income MSTR ETF
Issuer
Tidal Investments LLC
Brand
Defiance
Home Page
Inception Date
May 1, 2025
Structure
Open-Ended Fund
Index Tracked
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Management Style
Active
Dividend Treatment
Distributes
Distribution Tax Treatment
Ordinary income
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
MST aims to provide monthly income distributions by combining leveraged exposure to MicroStrategy Inc. (MSTR) exposure with a yield-enhancing options overlay. MSTR was known for its enterprise analytics software. It has then pivoted to acquire and hold Bitcoin (BTC) as another operational business. The fund targets 150% to 200% of MSTRs daily returns through derivatives such as swap agreements and short-dated, in-the-money call options. The leverage range depends on market volatility, liquidity, and cost considerations. Note that the fund has no defensive position. The fund also employs an income generation strategy via writing credit call spreads, selling a call option while purchasing another at a higher strike price to generate premiums and offset the leverage risks. This approach covers about half of the exposure, which can limit upside potential but helps offset potential losses. Holdings include cash-like instruments as collateral. The fund may also hold MSTR-linked ETFs.
Classification
Asset Class
Equity
Category
Sector
Focus
Information Technology
Niche
Application Software
Strategy
Vanilla
Geography
U.S.
Weighting Scheme
Single Asset
Selection Criteria
Single asset
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | -41.54% | -79.44% | -36.77% | -95.50% | -95.50% | -95.50% |
NAV Total Return | -56.68% | -80.73% | -56.25% | -0.14% | -0.14% | -0.14% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
No data is currently available
Asset
No data is currently available
Region
No data is currently available
Investment Style
No data is currently available
Top 10 Holdings
Symbol
Ratio
STRATEGY INC SWAP CS
72.00%
STRATEGY INC SWAP MAREX
58.95%
STRATEGY INC SWAP CANTOR
51.53%
First American Government Obligations Fund 12/01/2031
12.87%
United States Treasury Bill 07/09/2026
11.03%
Dreyfus Government Cash Management 12/31/2031
10.33%
United States Treasury Bill 02/19/2026
10.25%
MSTR US 02/06/26 C100
1.76%
MSTR US 02/06/26 C165
0.07%
MSTR US 02/06/26 C157.5
0.01%
Top 10 Weight 228.8%
13 Total Holdings
Is SPY better than MST?
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2026-02-04 | 2026-02-04 | 2026-02-05 | 0.069 |
| 2026-01-28 | 2026-01-28 | 2026-01-29 | 0.083 |
| 2026-01-21 | 2026-01-21 | 2026-01-22 | 0.098 |
| 2026-01-14 | 2026-01-14 | 2026-01-15 | 0.094 |
| 2026-01-07 | 2026-01-07 | 2026-01-08 | 0.114 |
| 2025-12-31 | 2025-12-31 | 2026-01-02 | 0.113 |
| 2025-12-24 | 2025-12-24 | 2025-12-26 | 0.093 |
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How Much Does MST Pay in Dividends?
Premium/Discount Chart
Assets Under Management
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Fund Flows
