# Leveraged Long + Income MSTR ETF (MST): ETF Facts & Distributions

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- Issuer: Defiance · Asset class: Leveraged/Inverse
- Strategy: Leveraged · Inception: 2025-05-01

The Defiance Daily Target 1.5X Long MSTR ETF (referred to as 'the Fund') is designed to deliver investment outcomes that are one-and-a-half times (150%) the daily percentage movement of MicroStrategy Incorporated (Nasdaq: MSTR) stock. Due to its strategy of seeking amplified daily returns, this Fund operates distinctly from conventional exchange-traded funds, and there is no assurance that it will consistently achieve its stated daily objective. Crucially, investors should not anticipate that the Fund will generate 1.5 times the cumulative performance of MSTR over any period exceeding a sin...

## Key Facts

| Metric | Value |
|---|---|
| Price | $14.40 |
| Expense Ratio | 2.02% |
| Assets Under Management | $26.7M |
| NAV | $14.48 |
| Holdings Count | 11 |
| Distribution Yield (TTM) | 275.22% |
| Annual Distribution (TTM) | $39.63 /share |
| Distribution Frequency | Weekly |
| 52-Week Range | $6.53 – $217.36 |
| Beta | 4.97 |

## Latest Distribution

- Amount: $0.1091 /share
- Ex-date: 2026-10-07
- Pay date: 2026-10-08

## Frequently Asked Questions

### What does MST invest in?

The Defiance Daily Target 1.5X Long MSTR ETF (referred to as 'the Fund') is designed to deliver investment outcomes that are one-and-a-half times (150%) the daily percentage movement of MicroStrategy Incorporated (Nasdaq: MSTR) stock. Due to its strategy of seeking amplified daily returns, this Fund operates distinctly from conventional exchange-traded funds, and there is no assurance that it will consistently achieve its stated daily objective. Crucially, investors should not anticipate that the Fund will generate 1.5 times the cumulative performance of MSTR over any period exceeding a single trading day, as the leverage applies strictly to daily fluctuations.

### What is the expense ratio of MST?

Leveraged Long + Income MSTR ETF (MST) charges an expense ratio of 2.02%. This is the annual fee deducted from fund assets to cover management and operations.

### What is MST's dividend yield?

MST's trailing-twelve-month yield is 275.22%, calculated from the sum of dividends over the past year divided by the current price.

### Is MST a good long-term hold?

MST is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple, typically with negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

### How does MST's daily reset work?

MST rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level, so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

### How big is MST?

Leveraged Long + Income MSTR ETF (MST) manages $26.7M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

### Does MST pay a dividend?

Yes, Leveraged Long + Income MSTR ETF (MST) distributes dividends to shareholders. The trailing-twelve-month yield is 275.22%. Full dividend history is on this page.

### How often does MST pay dividends?

Leveraged Long + Income MSTR ETF pays dividends Weekly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### When is MST's next ex-dividend date?

The most recently announced ex-dividend date for MST was 2026-10-07. The next ex-date typically follows Weekly; once announced it appears at the top of the dividend history table on this page.

### How much will MST's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 2.02% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees.

### How does MST charge its expense ratio?

The expense ratio is deducted in tiny daily slices from MST's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price.

### Why does MST cost more than a fund like VOO?

MST is a leveraged fund (current expense ratio 2.02%). Daily-reset leverage products carry swap and financing costs that don't exist on a plain-vanilla equity ETF. The Cost Verdict card compares against the leveraged/inverse cohort where these costs are the norm.

### Are there cheaper alternatives to MST?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as MST (2.02%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/funds/mst
- Distribution history: https://www.dividenddata.com/funds/mst/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/mst/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/mst/expenses
- Peer comparison: https://www.dividenddata.com/funds/mst/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.