How much leverage does MST use?

A daily target range of approximately 150%-200% of MSTR's price performance — the prospectus specifies the range rather than a fixed multiple. Daily-reset leverage compounds path-dependently: in choppy markets it erodes even if the stock goes nowhere.

Where does MST's income come from?

A credit call spread strategy layered on the leveraged position — premium collected for selling away part of the upside. Combined with 1.5x-2x exposure, the fund keeps substantial rally participation while paying weekly.

Why has MST already split its shares twice?

Volatility. Leveraged single-stock funds on wild underlyings move fast in both directions, and issuers split (or reverse-split) to keep share prices in a tradeable range. Note that after splits, this data source restates historical per-share payouts in today's share terms — the chart's split disclosure applies.

How often does MST pay dividends?

Weekly, and it has paid since May 2025.

MST Dividend History & Next Ex-Dividend Date

Q: When is MST's next ex-dividend date?

MST pays weekly, so the next ex-dividend date typically falls about a week after the previous one. Exact dates are announced by the fund shortly before each payout. This page computes the expected window from MST's live payment data and shows the most recent ex-dividend dates and amounts. You must own shares before the ex-dividend date to receive that payout.

← All dividend history charts

MST Distribution — Quick Facts

Pays: weekly.
First paid: May 2025 — every payment since is charted below.
What it is: approximately 150%–200% of the daily price performance of Strategy Inc. (MSTR) — a range, not a fixed multiple — plus income from a credit call spread strategy.
Fee: 2.02% gross expense ratio — the most expensive fund we track.
Splits: the feed shows two share splits already — the chart's split disclosure applies (historical per-share payouts are restated in today's share terms).

This is the maximum-throttle corner of the income world: daily-reset leverage in the 1.5x-2x range on the market's favorite bitcoin proxy, with option income layered on top. Daily leverage decays in choppy markets by construction — the income doesn't repeal that math.

Every Distribution Payment, Over Time

MST pays weekly. Each point below is one distribution since the fund began paying in May 2025.

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MST Payment Schedule & Next Ex-Dividend Date

Recent Ex-Dividend Dates	Distribution / Share

"Next expected" is estimated from MST's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.

Three Ways to Get Paid on One Wild Stock

Strategy (MicroStrategy) supports an entire ecosystem of income products, and MST is the most aggressive: leveraged 1.5x-2x daily exposure with spread income on top. The gentler routes are MSTY (option premium, no leverage), MSTW (1.2x weekly-reset with formula payouts) — and WNTR bets against the stock entirely.

Four machines, one underlying: overlaying them on the compare tool is the best single lesson in how packaging changes an income fund's fate.

Year-by-Year Table

Year	Total Distributions / Share	Payments	Change vs Prior Year

Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources. Note: after a share split, this data source restates all historical per-share payouts in today's share terms — the split disclosure above the chart applies.

When Is MST's Next Ex-Dividend Date?

MST pays weekly. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from MST's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.

MST's Record So Far

MST — the Defiance Leveraged Long + Income MSTR ETF — launched May 2025 and has paid weekly since its first month. The chart above shows every declared distribution, restated through two share splits.

Leverage Plus Income Is Still Leverage

The weekly checks change the feel, not the physics: 1.5x-2x daily exposure to a stock that already trades like a leveraged bitcoin bet means drawdowns arrive amplified and choppy stretches grind the NAV through volatility decay. The spread income softens flat periods and funds the payout — it cannot offset what leverage does in a real MSTR decline. The 2.02% fee is the price of the machinery.

Reading the Chart Honestly

Per-share payment history through two splits requires care — the restated early payments can look larger or smaller than what holders actually received at the time. Lean on the year-by-year table's trend rather than any single point, and judge the package on total return against plain MSTR and MSTY via the compare tool.

Compare It Against Anything

Same chart, two tickers, one honest overlay — payouts and price erosion side by side.

Compare Any Two Funds

Educational content only — not financial advice. Payout history is provided by a third-party data source and may contain errors, omissions, or delays; verify against official sources before relying on it. Past distributions do not guarantee future payments. This is not a recommendation to buy or sell any security.