Leveraged Long + Income MSTR ETF
MST
NASDAQ Global Market- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 78 SW 7th St., 5th Floor Miami United States of America
- IPO Date
- May 2, 2025
- Website
- defianceetfs.com
- Similar Companies
- Business
- Defiance Leveraged Long + Income MSTR ETF (MST) is an actively managed exchange-traded fund that seeks long-term capital appreciation, with a secondary objective of current income, by providing leveraged exposure to MicroStrategy Incorporated (MSTR); it primarily utilizes swap agreements and credit call spreads on MSTR to target approximately 150% to 200% of MSTR's daily price performance before fees and expenses, while generating premium income through options strategies that aim to manage risk and provide weekly distributions. The fund invests in derivatives including total return swaps with counterparties such as Cantor, Marex, and Clear Street; credit call spreads and purchased call options on MSTR, such as November 2025 $135 and $210 strikes; cash equivalents like Dreyfus Government Cash Management and U.S. Treasury Bills; it does not directly hold MSTR shares or Bitcoin, offering indirect sensitivity to Bitcoin trends via MSTR's substantial holdings. Launched on May 1, 2025, and listed on Nasdaq, MST operates in the U.S. equity and derivatives markets, targeting investors seeking amplified volatility plays on technology stocks with income generation. Headquartered in Miami, Florida, MST is issued by Defiance ETFs, a provider founded in 2018 specializing in thematic, income, and leveraged single-stock ETFs. Recent developments include the commencement of weekly distributions starting May 22, 2025, with the first payout at $0.3350 per share (99.29% estimated return of capital), followed by consistent payments such as $0.2178 in August 2025 and ongoing weekly ex-dates through December 2025; a reverse stock split announced in November 2025 to optimize share structure and enhance accessibility. In related products, Defiance increased leverage to 2x daily target exposure for its companion MSTX (2x Long MSTR ETF) and SMST (Short MSTR ETF) in October 2024, reflecting strategic enhancements amid rising investor interest in MSTR-linked instruments. MST's gross expense ratio stands at 1.31%, with a 30-day SEC yield of -0.95% as of October 31, 2025, and distributions reflecting high yields around 85% annualized as of November 2025.