A head-to-head comparison of YieldMax MSTR Option Income Strategy ETF and Strategy Variable Rate Series A Perpetual Stretch Preferred Stock covering yield, cost, risk, and income potential.
Data updated August 5, 2026
Best for
MSTYInvestors who want to maximize current income — roughly 84.10%, generated by selling options premium.
STRCInvestors who want the steadier, bond-like income of a preferred security.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.
See our curated list of related YouTube videos on MSTY.
Strategy Variable Rate Series A Perpetual Stretch Preferred Stock
Issuer
YieldMax
Strategy
Last Close
$12.88 as of August 5, 2026
$94.10 as of August 5, 2026
Distribution yield
84.10%
6.50%
Distribution Safety Score™
24
81
Expense ratio
0.99%
—
AUM
$757M
—
Distribution frequency
Weekly
Semi-Monthly
Underlying index
Strategy (MSTR)
Preferred equity security issued by MicroStrategy Incorporated.
Objective
Actively managed fund that seeks current income while maintaining indirect exposure to the share price of MicroStrategy Incorporated (MSTR), subject to a limit on potential investment gains.
Stretch (STRC) is Strategy’s perpetual preferred stock that pays a variable cash dividend twice a month (semi-monthly) — most recently $0.50 per share per payment, an annualized rate of about 12% on its $100 par value. STRC’s dividend rate is reset each month to encourage trading around STRC’s $100 par value and to help strip away price volatility.
Asset class
Equity
Equity
Inception date
02/21/2024
N/A
Beta
2.5604
—
Last dividend
$0.2083
$0.5000
Ex-dividend date
08/06/2026
07/31/2026
Bottom lineChoose MSTY if you want to maximize current income — roughly 84.10%, generated by selling options premium. Choose STRC if you want the steadier, bond-like income of a preferred security. There's no free lunch: MSTY's payout comes from selling options, which caps upside and can erode the share price over time, while STRC keeps full price exposure.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
MSTY has lagged STRC over the trailing twelve months, posting a -68.83% total return against 9.26%. Measured from Jul 2025 — when the younger fund began trading — STRC has compounded at 11.25% a year versus -68.81% for MSTY. STRC has been the steadier holding, though — annualized volatility of 22.2% against 64.5% for MSTY. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 5, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jul 2025” measures every fund from July 30, 2025 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
MSTY (YieldMax MSTR Option Income Strategy ETF) is an ETF, while STRC (Strategy Variable Rate Series A Perpetual Stretch Preferred Stock) is a preferred stock — they take fundamentally different approaches.
MSTY offers the higher yield at 84.10% vs 6.50% for STRC. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
They track different benchmarks: MSTY is linked to Strategy (MSTR) while STRC tracks Preferred equity security issued by MicroStrategy Incorporated., which means their performance drivers differ.
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On a $10,000 investment, MSTY would generate roughly $700.83/month, while STRC would produce $54.17/month, at current distribution rates.
MSTY yield84.10%
STRC yield6.50%
Monthly diff on $10K$646.67
Cost & efficiency
MSTY charges a 0.99% expense ratio — roughly $990 over 10 years on $10,000 (simplified, not compounded). STRC is a preferred stock, not a fund, so it charges no expense ratio.
MSTY ER0.99%
Strategy & risk
MSTY tracks Strategy (MSTR) with a crypto approach, while STRC tracks Preferred equity security issued by MicroStrategy Incorporated. with a bitcoin approach.
MSTY beta2.5604
STRC beta—
Security details
MSTY is managed by YieldMax (launched 02/21/2024) with $757M in assets. STRC (Strategy Variable Rate Series A Perpetual Stretch Preferred Stock) is a preferred stock.
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Frequently asked questions
What is the current distribution yield for MSTY and STRC?
MSTY currently distributes 84.10% and STRC 6.50%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is MSTY or STRC better for dividend income?
It depends on your goals. MSTY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between MSTY and STRC?
MSTY (YieldMax MSTR Option Income Strategy ETF) tracks Strategy (MSTR) with a crypto approach, while STRC (Strategy Variable Rate Series A Perpetual Stretch Preferred Stock) tracks Preferred equity security issued by MicroStrategy Incorporated. with a bitcoin approach. They are issued by YieldMax and Strategy respectively.
Can I hold both MSTY and STRC?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, MSTY or STRC?
MSTY charges a 0.99% expense ratio. STRC is a preferred stock, not a fund, so it has no expense ratio — owning it directly costs nothing in ongoing fund fees.
How much income does $10,000 in MSTY vs STRC generate?
At current rates, $10,000 in MSTY would generate roughly $700.83 per month ($8,410.00 annually). The same in STRC would produce about $54.17 per month ($650.00 annually).
Which has performed better historically, MSTY or STRC?
MSTY has lagged STRC over the trailing twelve months, posting a -68.83% total return against 9.26%. Measured from Jul 2025 — when the younger fund began trading — STRC has compounded at 11.25% a year versus -68.81% for MSTY. STRC has been the steadier holding, though — annualized volatility of 22.2% against 64.5% for MSTY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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