MST
Defiance Leveraged Long + Income MSTR ETF
Distribution Rate *
Distribution Frequency
30-Day SEC Yield **
MST, Leveraged Long + Income MSTR (MicroStrategy) ETF
Investment Objective
The Defiance Leveraged Long + Income MSTR ETF (the “Fund”) seeks long-term capital appreciation, with a secondary objective to seek current income. The Income Generation Strategy complements the Leveraged Strategy by utilizing credit call spreads to seek to generate premium income and manage risk associated with the Fund’s leveraged exposure.
What Makes $MST Stand Out?
Leveraged Exposure: $MST aims to deliver approximately 150% to 200% of MicroStrategy’s daily price performance, capitalizing on its volatility and growth potential.
Seeks Weekly Income:*** By utilizing a credit call spreads strategy, the ETF seeks to generate high income, which is distributed to investors every week, providing regular cash flow1 and a potential buffer against declines.
Bitcoin Exposure: Through MicroStrategy—a company known for its significant Bitcoin holdings—$MST offers indirect access to Bitcoin’s market trends without the need to own cryptocurrency directly.
The Fund may not achieve daily investment results, before fees and expenses, that correspond to 150% to 200% the performance of the Underlying Security, and may return substantially less during such periods. During such periods, the Fund’s actual leverage levels may differ substantially from its intended leverage target range, both intraday and at the close of trading, potentially resulting in significantly lower returns.
*** The fund intends to pay distributions, if any, on a weekly basis
Fund Details
Data as of 05/13/2025MSTMarket Price
| YTD | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | Since Inception | |
|---|---|---|---|---|---|---|---|
| Total Return (NAV) (%) | –.–% | –.–% | –.–% | –.–% | –.–% | –.–% | –.–% |
| Market Price (%) | –.–% | –.–% | –.–% | –.–% | –.–% | –.–% | –.–% |
| 1 Year | Since Inception | |
|---|---|---|
| Total Return (NAV) (%) | –.–% | –.–% |
| Market Price (%) | –.–% | –.–% |
| 2023 | |
|---|---|
| Total Return (NAV) (%) | –.–% |
| Market Price (%) | –.–% |
Top Holdings
| Name | Symbol | Stock price | % Net assets | Shares Held | Market Value |
|---|---|---|---|---|---|
| Microstrategy Inc Swap Marex | 594972408-TRS-06/02/26-L | $416.75 | 93.94% | 84,141 | $35,065,762 |
| Mstr Us 05/16/25 C325 | MSTR 250516C00325000 | $91.90 | 23.39% | 950 | $8,730,500 |
| United States Treasury Note/bond 3.875% 01/15/2026 | 91282CGE5 | $99.84 | 10.46% | 3,911,000 | $3,904,610 |
| United States Treasury Bill 08/14/2025 | 912797PN1 | $98.92 | 10.03% | 3,785,000 | $3,744,003 |
| United States Treasury Note/bond 4.25% 10/15/2025 | 91282CFP1 | $100.01 | 9.92% | 3,701,000 | $3,701,468 |
| First American Government Obligations Fund 12/01/2031 | FGXXX | $100.00 | 4.52% | 1,687,246 | $1,687,246 |
| Mstr Us 05/16/25 C460 | MSTR 250516C00460000 | $1.09 | 0.26% | 897 | $97,325 |
| Mstr Us 05/16/25 C435 | MSTR 250516C00435000 | $3.03 | -0.04% | -46 | $-13,915 |
| Mstr Us 05/16/25 C425 | MSTR 250516C00425000 | $5.25 | -1.20% | -851 | $-446,775 |
| Cash & Other | Cash&Other | $1.00 | -51.29% | -19,144,087 | $-19,144,087 |
| Download Fund Documents |
|---|
Distributions
| Declaration Date | Ex-Div Date | Record Date | Payable Date | Amount ($) | |
|---|---|---|---|---|---|
| — | — | — | — | $– |
| Distribution Rate *
Payable As of — |
-% |
| Distribution Frequency | Weekly |
| 30-Day SEC Yield ** As of 04-30-2025 |
--% |
