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- By the record: counting from May 21, 2025 the fund has made 71 payments, 51 of them in the year to October 4, 2026, worth $39.55 per share, too little history behind it for a year-over-year read, or about 249% of the ~$15.88 share price.
- 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.
MST pays weekly. Each point below is one distribution since the fund began paying in May 2025.
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Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
- Trailing 12 months: $39.55 per share across 51 payments — paying since May 2025, so no full prior-year comparison yet (split-adjusted, in today's share terms). What a change like that does to your income →
- Current pace: recent payments annualize to $5.36 — 86% below the trailing figure. When those two disagree, the trailing yield is quoting the past. Live cut & raise board →
- Share price, same 12 months: down 95% (dividends excluded) — income and principal are one story. Erosion Index →
- Record: 71 payments over 16 months; the largest single payment was $9.83 (Jul 2025), split-adjusted.
- Payment drops ≥20% below trend, last 24 months: 38. Get alerted to the next one →
- Payment steadiness: the last 12 checks wobble ±13% around their median. Compare that against any fund →
Every figure above is computed from MST's actual payment record and share-price history as of the date shown — not copied from a fact sheet. Recomputed regularly; the chart above always shows the live data.
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| 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.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
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 | 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.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
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 a Record Through Two Splits
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