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Security Comparison

MSTY vs STRK: Which Is the Better Pick in 2026?

A head-to-head comparison of YieldMax MSTR Option Income Strategy ETF and Perpetual Strike Preferred Stock covering yield, cost, risk, and income potential.

Data updated July 21, 2026

YieldMax
ETFs59
Total AUM$9.28B

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.

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Side-by-side snapshot

MSTYSTRK
Full nameYieldMax MSTR Option Income Strategy ETFPerpetual Strike Preferred Stock
IssuerYieldMaxStrategy
Last Close$13.12 as of July 21, 2026$61.15 as of July 21, 2026
Distribution yield82.04%12.96%
Distribution Safety Score™ 2450
Expense ratio0.99%—
AUM$765M—
Distribution frequencyWeeklyQuarterly
Underlying indexStrategy (MSTR)Preferred equity security issued by MicroStrategy Incorporated.
ObjectiveCovered CallProvide investors with an 8% fixed coupon through MicroStrategy's preferred equity structure.
Asset classEquityEquity
Inception date02/21/2024N/A
Beta2.5604—
Last dividend$0.2070$2.0000
Ex-dividend date07/16/202606/15/2026

Bottom lineChoose MSTY if you want to maximize current income — roughly 82.04%, generated by selling options premium. Choose STRK 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 STRK keeps full price exposure.

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Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

MSTY has lagged STRK over the trailing twelve months, posting a -73.30% total return against -42.60%. Measured from Jan 2025 — when the younger fund began trading — STRK has compounded at -9.66% a year versus -52.59% for MSTY. STRK has been the steadier holding, though — annualized volatility of 36.5% against 64.9% for MSTY. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1YSince Jan 2025Volatility Sharpe Sortino Max drawdown
MSTY-37.38%-73.30%-52.59%64.9%-2.12-2.73-76.6%
STRK-22.60%-42.60%-9.66%36.5%-1.66-2.16-51.4%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 20, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jan 2025” measures every fund from January 31, 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 STRK (Perpetual Strike Preferred Stock) is a preferred stock — they take fundamentally different approaches.

MSTY offers the higher yield at 82.04% vs 12.96% for STRK. 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 STRK tracks Preferred equity security issued by MicroStrategy Incorporated., which means their performance drivers differ.

Deep dive

Yield & income

On a $10,000 investment, MSTY would generate roughly $683.67/month, while STRK would produce $108.00/month, at current distribution rates.

MSTY yield82.04%
STRK yield12.96%
Monthly diff on $10K$575.67

Cost & efficiency

MSTY charges a 0.99% expense ratio — roughly $990 over 10 years on $10,000 (simplified, not compounded). STRK is a preferred stock, not a fund, so it charges no expense ratio.

MSTY ER0.99%

Strategy & risk

MSTY tracks Strategy (MSTR) with a covered call approach, while STRK tracks Preferred equity security issued by MicroStrategy Incorporated. with a bitcoin approach.

MSTY beta2.5604
STRK beta—

Security details

MSTY is managed by YieldMax (launched 02/21/2024) with $765M in assets. STRK (Perpetual Strike Preferred Stock) is a preferred stock.

MSTY AUM$765M
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Frequently asked questions

Is MSTY or STRK 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 STRK?

MSTY (YieldMax MSTR Option Income Strategy ETF) tracks Strategy (MSTR) with a covered call approach, while STRK (Perpetual Strike 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 STRK?

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 STRK?

MSTY charges a 0.99% expense ratio. STRK 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 STRK generate?

At current rates, $10,000 in MSTY would generate roughly $683.67 per month ($8,204.00 annually). The same in STRK would produce about $108.00 per month ($1,296.00 annually).

Which has performed better historically, MSTY or STRK?

MSTY has lagged STRK over the trailing twelve months, posting a -73.30% total return against -42.60%. Measured from Jan 2025 — when the younger fund began trading — STRK has compounded at -9.66% a year versus -52.59% for MSTY. STRK has been the steadier holding, though — annualized volatility of 36.5% against 64.9% for MSTY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

MSTY vs STRK — at a glance

Generated July 2026 from current fund data.

Overview

MSTY and STRK both provide income from MicroStrategy (MSTR), the Bitcoin-holding software company, but through entirely different vehicles. MSTY is a weekly-pay covered call ETF with a 83.49% distribution rate that sells call options against MSTR shares to generate income. STRK is a perpetual preferred stock issued directly by MicroStrategy with a 13.24% distribution rate and an 8% fixed coupon, paying quarterly. The key distinction: MSTY trades volatility and caps upside through options overlay; STRK is a fixed-income claim on the company with no upside participation.

How they differ

MSTY's defining structure is a covered call overlay—it holds MSTR stock and systematically sells call options to generate the extreme distribution rate, whereas STRK is a straight preferred equity security with no options involved. The yield gap is enormous: MSTY's 83.49% distribution versus STRK's 13.24% reflects the difference between harvesting options premium (weekly) and collecting a fixed coupon (quarterly). MSTY carries a beta of 2.5604, meaning it amplifies broader market moves, while STRK provides no beta figure, reflecting its fixed-income nature and subordinated claim structure. MSTY has been operating since February 2024 and holds $1.01B in AUM; STRK only recently launched in early February 2025 and is a direct equity issuance rather than a fund tracking an underlying. The expense ratio of 0.99% for MSTY covers fund management and operational costs; STRK has no stated expense ratio typical of directly-held preferred stock.

Who each is best for

MSTY: Fits investors comfortable with high volatility and call-strike risk who want maximum current income and can tolerate significant NAV fluctuation tied to MSTR's price swings and implied volatility.

STRK: Fits investors seeking a contracted 8% income floor through a subordinated equity claim who prefer stability and quarterly payment schedules over frequent distributions, accepting no upside participation in MSTR share price appreciation.

Key risks to know

  • Extreme NAV erosion risk at MSTY's 83% distribution yield. Covered calls capped at current strike levels will force NAV decline if MSTR rallies sharply, since the fund forgoes all appreciation above the call strike. Distributions that substantially exceed underlying dividend and total return are structurally supported by capital return, not earnings.
  • Call strike assignment and upside cap for MSTY. If MSTR rallies above the sold strike before expiration, shares are called away, locking in a loss of upside. Repeated strikes over time can materially reduce compounding.
  • High leverage and volatility amplification in MSTY. A beta of 2.5604 means MSTY swings more than twice as hard as MSTR on market moves. Weekly rebalancing and option rolling add operational complexity and may lag during sharp rallies or crashes.
  • Subordinated claim and credit risk in STRK. As a perpetual preferred, STRK has a junior claim to MicroStrategy's assets and cash flow, sitting behind all debt. If MSTR faces financial stress, preferred dividends can be suspended or cut while the company remains solvent—a risk absent from MSTY's equity-call structure.
  • Liquidity and pricing risk in STRK. As a newly-issued, direct preferred stock rather than a traded fund, STRK may have wider bid-ask spreads and lower secondary-market trading depth than an established ETF like MSTY, making exit more costly.

Bottom line

MSTY's ultra-high distribution yield is powered by selling your upside in MSTR and relying on repeated capital return; STRK trades that upside for a fixed-income claim with no options risk but also no price appreciation. If you need maximum current income and accept steep NAV erosion, weekly income, and volatility twice MSTR's move, MSTY's structure delivers; if you want a contractual 8% coupon floor and quarterly certainty without liquidating principal to fund distributions, STRK's simpler fixed-income profile fits differently. Neither negates the other—they serve distinct risk and return profiles—and past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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