Does MSTW sell covered calls on MSTR?

No — Roundhill states the WeeklyPay funds do not sell options at all. MSTW gets 1.2x leveraged exposure to Strategy (MicroStrategy)'s weekly total return through total-return swaps, with upside uncapped, and pays a weekly distribution computed by a proprietary formula from the stock's performance and implied volatility.

Where does MSTW's weekly payment come from?

From the fund itself. The distribution is set by formula, not earned as option premium or dividends, and recent 19a-1 notices have estimated WeeklyPay distributions largely as return of capital — your own money handed back, with the leveraged MSTR position determining whether the NAV replaces it.

What does 1.2x weekly reset mean for MSTW?

Each calendar week, the fund targets 120% of MSTR's total return for that week, then resets. It compounds differently than daily-reset leveraged ETFs — and the issuer's own risk disclosure notes a total loss is possible if MSTR fell roughly 83% in a single week.

How often does MSTW pay?

Weekly, and it has paid since August 2025. Payment sizes vary week to week by design — the formula responds to MSTR's moves and implied volatility.

MSTW Dividend History & Next Ex-Dividend Date

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

MSTW 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 MSTW'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

MSTW Distribution — Quick Facts

Pays: weekly.
First paid: August 2025 — every payment since is charted below.
What it is: not an option-income fund. MSTW targets 1.2x the weekly total return of Strategy (MicroStrategy) (MSTR) via swap agreements — upside uncapped — and pays a weekly distribution set by a formula using the stock's performance and implied volatility.
Fee: 0.99% gross expense ratio (issuer fund page).
The angle: the most volatile underlying Roundhill wraps — 1.2x on a stock that already moves like leverage.

Leverage resets weekly, not daily — and cuts both ways: a ~83% single-week drop in MSTR could wipe the fund out entirely (issuer risk disclosure). Distributions are manufactured by formula, not earned as income, and recent 19a-1 notices for WeeklyPay funds have estimated them largely as return of capital.

Every Distribution Payment, Over Time

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

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MSTW Payment Schedule & Next Ex-Dividend Date

Recent Ex-Dividend Dates	Distribution / Share

"Next expected" is estimated from MSTW'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.

WeeklyPay Is a Different Machine

Most weekly payers on this site sell options; WeeklyPay funds don't sell anything. MSTW holds 1.2x leveraged MSTR exposure through swaps — rallies are uncapped — and simply pays out a formula-driven slice each week. When Strategy (MicroStrategy) runs, the checks and the share price can both climb; when it slides, leverage makes the slide 20% worse and the checks keep coming out of principal.

That's why the honest comparison is against the option-income version of the same stock — MSTY — and against Roundhill's other WeeklyPay funds (PLTW, COIW, TSLW). Overlay any pair on the compare tool.

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.

When Is MSTW's Next Ex-Dividend Date?

MSTW 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 MSTW's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.

MSTW's Record So Far

MSTW — the Roundhill MSTR WeeklyPay ETF — launched in July 2025 and has paid weekly since August 2025. The chart above shows every declared distribution.

Leverage With a Payout Habit

Strip the branding and MSTW is a 1.2x weekly-reset leveraged Strategy (MicroStrategy) fund that mails out a formula-sized check every week. Nothing is harvested or hedged: if MSTR compounds upward, 1.2x weekly exposure can outrun the payouts and everyone's happy; if it grinds down, the same leverage deepens the hole while distributions — largely return of capital — quietly shrink the base. The distribution's tax character also matters: return of capital lowers your cost basis, which our Cost Basis Calculator tracks lot by lot.

Reading the Chart Honestly

A rising payout line here doesn't mean the fund is earning more — the formula responds to volatility and price, not profit. Judge MSTW on total return against plain MSTR and against the option-income funds on the same stock. That three-way overlay is exactly what the compare tool was built for.

Heavy Return-of-Capital Fund? Track Your Real Cost Basis

Distributions classified as return of capital lower your cost basis and change your tax bill when you sell. Our free calculator does the lot-by-lot math.

Open the Cost Basis Calculator

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.