Key stats
About Defiance Leveraged Long Income MSTR ETF
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Inception date
May 1, 2025
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
MST aims to provide monthly income distributions by combining leveraged exposure to MicroStrategy Inc. (MSTR) exposure with a yield-enhancing options overlay. MSTR was known for its enterprise analytics software. It has then pivoted to acquire and hold Bitcoin (BTC) as another operational business. The fund targets 150% to 200% of MSTR’s daily returns through derivatives such as swap agreements and short-dated, in-the-money call options. The leverage range depends on market volatility, liquidity, and cost considerations. Note that the fund has no defensive position. The fund also employs an income generation strategy via writing credit call spreads, selling a call option while purchasing another at a higher strike price to generate premiums and offset the leverage risks. This approach covers about half of the exposure, which can limit upside potential but helps offset potential losses. Holdings include cash-like instruments as collateral. The fund may also hold MSTR-linked ETFs.
Classification
What's in the fund
Exposure type
Government
Rights & Warrants
Stock breakdown by region
Top 10 holdings
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
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Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
MST trades at 17.56 USD today, its price has fallen −0.28% in the past 24 hours. Track more dynamics on MST price chart.
MST assets under management is 59.72 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
MST fund flows account for 74.95 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
MST invests in bonds. See more details in our Analysis section.
MST expense ratio is 1.31%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
Yes, MST is a leveraged ETF, meaning it uses borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, MST pays dividends to its holders with the dividend yield of 3.41%.
MST trades at a premium (0.31%).
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
MST shares are issued by Toroso Investments Topco LLC
MST follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on May 1, 2025.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.