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MST ETF — Defiance Leveraged Long + Income MSTR ETF
Defiance Leveraged Long + Income MSTR ETF (MST)
Updated October 16, 2026.
Verdict as of October 17, 2026
MST's distribution is rated high risk by the Dividend Vision Distribution Safety Score™ (0/100, high confidence). It pays weekly and its distribution rate is 42.93%, and 94.8% of its recent distributions is estimated return of capital as of October 17, 2026. The latest total cash payment per current share, $0.0947 with an ex-date of October 14, 2026, was 13.2% lower than the previous $0.1091. These payments are unclassified; this does not establish a base-dividend change.
Sources: Defiance ETFs page for MST, Section 19a-1 notices, scoring methodology.
MST is an ETF linked to Strategy (MSTR). its distribution rate is 42.93%, its trailing-12-month yield is 275.36%, its expense ratio is 1.91%. Dividend Vision Distribution Safety Score™ is 0/100 (High risk). Total return is -94.7% over the past 1.5 years, 29.4 points behind MSTR at -65.3%.
MST dividend yield and income
Price as of 2026-10-16.
The distribution rate (42.93%) uses calculation basis unavailable. Trailing-12-month yield (275.36%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.0947. The ex-dividend date is 10/14/2026. The payment date is 10/15/2026.
| Ex-date | As paid | Per current share | Change from previous payment |
|---|---|---|---|
| 2026-10-14 | $0.0947 | $0.0947 | -13.2% Unclassified cash |
| 2026-10-07 | $0.1091 | $0.1091 | -3.1% Unclassified cash |
| 2026-09-30 | $0.1126 | $0.1126 | 10.6% Unclassified cash |
| 2026-09-23 | $0.1018 | $0.1018 | -2.5% Unclassified cash |
| 2026-09-16 | $0.1044 | $0.1044 | -2.3% Unclassified cash |
| 2026-09-09 | $0.1069 | $0.1069 | 1.2% Unclassified cash |
| 2026-09-02 | $0.1056 | $0.1056 | 32.3% Unclassified cash |
| 2026-08-26 | $0.0798 | $0.0798 | 10.5% Unclassified cash |
| 2026-08-19 | $0.0722 | $0.0722 | 2.7% Unclassified cash |
| 2026-08-12 | $0.0703 | $0.0703 | -6.8% Unclassified cash |
| 2026-08-05 | $0.0754 | $0.0754 | -19.8% Unclassified cash |
| 2026-07-29 | $0.094 | $0.094 | 0.2% Unclassified cash |
| 2026-07-22 | $0.0938 | $0.0938 | 6.3% Unclassified cash |
| 2026-07-15 | $0.0882 | $0.0882 | 18.4% Unclassified cash |
| 2026-07-08 | $0.0745 | $0.0745 | 12.7% Unclassified cash |
| 2026-07-01 | $0.0661 | $0.0661 | -38.1% Unclassified cash |
| 2026-06-24 | $0.1068 | $0.1068 | -19.1% Unclassified cash |
| 2026-06-17 | $0.132 | $0.132 | -10.8% Unclassified cash |
| 2026-06-10 | $0.148 | $0.148 | -5.8% Unclassified cash |
| 2026-06-03 | $0.1571 | $0.1571 | -28.3% Unclassified cash |
| 2026-05-27 | $0.2192 | $0.2192 | -9.1% Unclassified cash |
| 2026-05-20 | $0.2412 | $0.2412 | -24.7% Unclassified cash |
| 2026-05-13 | $0.3205 | $0.3205 | 8.3% Unclassified cash |
| 2026-05-06 | $0.2959 | $0.2959 | 7.4% Unclassified cash |
| 2026-04-29 | $0.2754 | $0.2754 | 20.4% Unclassified cash |
| 2026-04-22 | $0.2288 | $0.2288 | 28.3% Unclassified cash |
| 2026-04-15 | $0.1784 | $0.1784 | -6.0% Unclassified cash |
| 2026-04-08 | $0.1897 | $0.1897 | -2.1% Unclassified cash |
| 2026-04-01 | $0.1938 | $0.1938 | N/A |
| 2026-03-25 | $0.3354 | $0.3354 | N/A |
| 2026-03-11 | $0.0637 | $0.4459 | -15.0% Unclassified cash |
| 2026-03-04 | $0.0749 | $0.5243 | 34.0% Unclassified cash |
| 2026-02-25 | $0.0559 | $0.3913 | -22.6% Unclassified cash |
| 2026-02-18 | $0.0722 | $0.5054 | 3.7% Unclassified cash |
| 2026-02-11 | $0.0696 | $0.4872 | 0.3% Unclassified cash |
| 2026-02-04 | $0.0694 | $0.4858 | -15.9% Unclassified cash |
| 2026-01-28 | $0.0825 | $0.5775 | -15.7% Unclassified cash |
| 2026-01-21 | $0.0979 | $0.6853 | 4.0% Unclassified cash |
| 2026-01-14 | $0.0941 | $0.6587 | -17.1% Unclassified cash |
| 2026-01-07 | $0.1135 | $0.7945 | 0.2% Unclassified cash |
| 2025-12-31 | $0.1133 | $0.7931 | 21.4% Unclassified cash |
| 2025-12-24 | $0.0933 | $0.6531 | 1.6% Unclassified cash |
| 2025-12-17 | $0.0918 | $0.6426 | -58.3% Unclassified cash |
| 2025-12-10 | $0.2199 | $1.5393 | -62.7% Unclassified cash |
| 2025-12-03 | $0.1473 | $4.1244 | 292.8% Unclassified cash |
| 2025-11-26 | $0.0375 | $1.05 | -33.6% Unclassified cash |
| 2025-11-19 | $0.0565 | $1.582 | -17.9% Unclassified cash |
| 2025-11-12 | $0.0688 | $1.9264 | -40.2% Unclassified cash |
| 2025-11-05 | $0.115 | $3.22 | 9.3% Unclassified cash |
| 2025-10-29 | $0.1052 | $2.9456 | -4.4% Unclassified cash |
| 2025-10-22 | $0.11 | $3.08 | -9.2% Unclassified cash |
| 2025-10-15 | $0.1212 | $3.3936 | -28.5% Unclassified cash |
| 2025-10-08 | $0.1696 | $4.7488 | 14.7% Unclassified cash |
| 2025-10-01 | $0.1478 | $4.1384 | -10.9% Unclassified cash |
| 2025-09-24 | $0.1658 | $4.6424 | 12.8% Unclassified cash |
| 2025-09-17 | $0.147 | $4.116 | 0.3% Unclassified cash |
| 2025-09-10 | $0.1466 | $4.1048 | -6.8% Unclassified cash |
| 2025-09-03 | $0.1573 | $4.4044 | -14.9% Unclassified cash |
| 2025-08-27 | $0.1849 | $5.1772 | -0.2% Unclassified cash |
| 2025-08-20 | $0.1852 | $5.1856 | -15.0% Unclassified cash |
| 2025-08-13 | $0.2178 | $6.0984 | 15.8% Unclassified cash |
| 2025-08-06 | $0.1881 | $5.2668 | -11.6% Unclassified cash |
| 2025-07-30 | $0.2129 | $5.9612 | -3.3% Unclassified cash |
| 2025-07-23 | $0.2202 | $6.1656 | -37.3% Unclassified cash |
| 2025-07-16 | $0.3511 | $9.8308 | 29.0% Unclassified cash |
| 2025-07-09 | $0.2722 | $7.6216 | -4.9% Unclassified cash |
| 2025-07-02 | $0.2863 | $8.0164 | 37.9% Unclassified cash |
| 2025-06-25 | $0.2076 | $5.8128 | -23.6% Unclassified cash |
| 2025-06-18 | $0.2717 | $7.6076 | -4.9% Unclassified cash |
| 2025-06-11 | $0.2858 | $8.0024 | 7.4% Unclassified cash |
| 2025-06-04 | $0.2662 | $7.4536 | 0.4% Unclassified cash |
| 2025-05-28 | $0.2652 | $7.4256 | -20.8% Unclassified cash |
| 2025-05-21 | $0.335 | $9.38 | — |
| 2025 total (partial launch year) | — | $156.1105 | — |
| 2026 YTD total | — | $10.0275 | — |
MST holdings and sector exposure
Holdings are not available for this snapshot.
Economic / reference exposure: MSTR (physical holdings below may be collateral and options, not the reference asset itself).
MST performance versus MSTR
Price and return data through 2026-10-16.
Total return is -94.7% over the past 1.5 years, 29.4 points behind MSTR at -65.3%. Over the past year its total return — price change plus distributions reinvested — is -87.2%. Its deepest 1-year drawdown was 94.2%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 7.4% | — |
| 3M | 60.4% | — |
| 6M | -45.5% | — |
| YTD | -56.5% | — |
| 1Y | -87.2% | — |
| Since inception (1.5 years) | -94.7% | -86.60% |
MST key facts
- Distribution Safety Score™
- 0 · High risk
- Safety-Adjusted Yield
- 0.00%
- Issuer
- Defiance ETFs
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 05/01/2025
- Expense ratio
- 1.91%
- Distribution rate
- 42.93%
- Distribution frequency
- Weekly
- Trailing yield
- 275.36%
- Last close
- $11.47 (as of 2026-10-16)
- AUM
- $26,700,676
- Average volume
- 203138.0
- Dividend
- $0.0947
- Latest 19(a) ROC estimate
- 94.82%
- Ex-dividend date
- 10/14/2026
- Payment date
- 10/15/2026
- Beta
- 5.1684
How Dividend Vision calculates yield and returns
Distribution rate (42.93%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (275.36%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: Defiance ETFs or company page; Index: Strategy (MSTR); prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
MST risks and drawbacks
Total return has trailed MSTR over the available window. The deepest 1-year drawdown on record here is 94.2%.
Who may consider MST — and who may not
It is a weaker fit for investors whose main goal is matching MSTR total return. This is educational context, not a recommendation to buy or sell.
More on MST
Compare MST
MST vs similar funds:
Frequently asked questions
Does MST pay monthly?
No. MST currently pays weekly, not monthly.
What is MST linked to?
MST is linked to Strategy (MSTR), not a broad market index.
What is MST's expense ratio?
MST's expense ratio is 1.91%.
What is MST's dividend yield?
MST's distribution rate is 42.93%, paid weekly, with a 1.91% expense ratio — calculation basis unavailable.
When does MST pay a dividend?
MST pays weekly. The dividend amount is $0.0947. The ex-dividend date is 10/14/2026. The payment date is 10/15/2026.
How has MST performed?
Total return is -94.7% over the past 1.5 years, 29.4 points behind MSTR at -65.3%. Over the past year its total return — price change plus distributions reinvested — is -87.2%. Its deepest 1-year drawdown was 94.2%.
Is MST a good investment?
MST's Dividend Vision Distribution Safety Score is 0 (High risk). That is a risk signal, not investment advice. Its distribution rate is 42.93% (calculation basis unavailable). Compare peers below rather than treating any single figure as a buy or sell.
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