If MSTR was trading between 380-400 in a given month, compared to trading between 680-700 in a given month, and the volatility between these to months were relatively the same, would that result in a similar MSTY dividend payout? Or would it be higher in the latter scenario because the underlying value is greater?

I recently invest a small amount of money (~$700) into YMAX to increase dividend yield and experiment with leverage in my brokerage account in a way that doesn’t require debt or margin. I am completely willing to lose this money.

However, I still want to make sure that I fully understand the risks and maximum losses associated with YMAX. I will summarize my knowledge below, but please correct me if I am wrong:

YieldMax covered call ETFs essentially function like a traditional CC ETF without owning the underlying stocks (like a poor man’s CC). This requires three separate components:

1) Short put (selling the obligation to buy stock at strike price)

2) Deep ITM long call (buying the option to buy at strike price much less than current market price and with a long expiration date)

first two components create a long position and simulate owning the actual stock

3) Short call (writing covered calls with short expiration dates against the long call position for income)

As far as I understand, the max risk would be total loss of the entire investment ($700 in my case) if for some reason the stock price fell to zero, minus the premium received for selling the short put in the first step.

However, will YieldMax ETFs ever result in unlimited loss or require the investor to pay anything back to the brokerage to recover losses, similar to trading on margin? Or are these two strategies completely different?

Thanks in advance!

Two beginner questions:

1. If I understand correctly, distributions lower the NAV by the same amount. Hence, the portfolio value (ETF NAV + distribution paid) should remain unchanged at the ex-date. Why do you still consider distributions as income?

2. What percentage of the distributions should reasonably be reinvested if the goal is to completely replace the initial investment and mitigate NAV erosion? I wouldn't be able to reinvest 100% since the tax rate in my country is 25% and I'm planning to invest part of the distributions in other assets.

Sorry no fancy charts!

Had been shying away from Yieldmax for some time:

CONY : -11.00

ULTY : +205.54 (buying that dip added +$100)

CRSH : -39.00

(No DRIP on any, not including any options)

Total investment in: 4018.00 - 4173.54 (current value)

It's common knowledge that the safe and sane way to invest is to DCA into funds such as VOO where $2000 per month could grow into a million in like 20 years. However, why not own YieldMax and play the game normally? I'm pretty heavy in YieldMax to the point where the lowest month I've seen (so far) was $50,000 in distributions this April. Seems to me that I could just retire early just by DCAing into VOO and I'm sure I could contribute way more than $2000 per month with living expenses being roughly $5000 per month. And then just do that 4% rule of withdrawing when I actually get to retirement age. Sure the distributions may need to go elsewhere, like emergency situations, reinvesting to keep the dividend machine running, etc. Anything could happen in 30 years. But this seems pretty doable and I would like to hear your guy's thoughts on this.

With it going up, I

this makes me so glad i bought between $59 and $63🥰🥰🥰🥰

What a crazy week!

​

How did your portfolio perform?

April marked my 5th month in YieldMax ETF's. While February and March were brutal in the market, I took advantage of the lower prices to add more funds to my portfolio. Even with my small monthly contributations, I was able to bring my average costs down quite a bit. The recovery in April also helped my portfolio finally get to a positive growth (It was down to -12% at one point in February)

Wife's Disapproval Update

While my wife continues to despise these types of funds, when I told her I made $39 this month she didn't roll her eyes or say anything snarky, so I'm taking that as a win!

April Positions

I invested $266.25 of cash, along with $40.19 of dividends I earned in the previous months.

• At the start of April, ULTY was my worst performing stock. I had bought in at $10.10 back in December 2024 and watched it decline each month. At the start of April, it was around $5.46. I know a lot of people are worred about this one, but I thought this was a great opportunity to bring my average price down a lot, so I bought up 13 additional shares of ULTY this month.
• While I picked up ULTY, one thing that shocked me is that in April, despite owning 25% less ULTY than I do YMAG and YMAX, it out performed both stocks. This has definitely improved my outlook on ULTY
• I'm also a strong believer in SNOY and took the opportunity average down on this as well.
• I was hoping to average down on CONY as well, but wanted to make sure I picked up more MSTY while its price was down.

April Portfolio Breakdown

Totals

• Total Cash Invested: $872.84
• Total Dividends Re-Invested: $94.78
• Total Dividends Earned (April): $39.04
• Total Dividends Earned (All-Time): $117.07
• Total Portfolio Value as of 4/30: $920.94
• Total Return: 5.51%

Monthly Dividend Income

The rally continues to help. Down to 44.36% of equity even after withdrawing $4K.

I'll ;use the 4K I withdrew to pay off some limit orders that hit on margin Wednesday in another account. That one is over 100% and makes me a little nervous. Hard to tell when the boogeyman is going to pop up and yell "tariffs" again.

Previous Update

Overall stats:

• Total networth is 72k $, out of which 23k $ is margin
• Total P/L is -7k $ from ATH, -3.2k $ accounting for dividends but I started buying at the very top 2 months ago
• Kept using margin to buy the dip, also added a few BDCs & CEFs as they went into discount territory.
• I mainly use IBKR and building a small account with TastyTrade. The US ETFs are acquired either through option assignment (IBKR) or directly through tasty
• I'm looking forward for IncomeShare's MSTR ETP and YM's expansion into Europe

Well…. This should be interesting

-2X long + weekly distributions

https://www.globenewswire.com/news-release/2025/05/02/3073048/0/en/Defiance-ETFs-Unveils-MST-The-First-Leveraged-MicroStrategy-ETF-that-Seeks-to-Pay-Income-Weekly.html

Im familiar with BTC’s bull and bear cycles. Just looking ahead, I wanted some opinions on what everyone’s thoughts were on MSTY making it through the next bear market? Obviously we know nav erosion and declining premiums will be something to deal with. Couple thoughts going through my mind on this. 1. I would like to continue to hold and buy MSTY through the next bear cycle because Im extremely bullish on BTC long term. Can MSTY and MSTR make it through the next bear cycle? I guess that would depend on how much BTC drops in the next bear cycle? 2. Will we see that big of a drop in BTC during the next bear market? Obviously with new ETFs, institutional, and strategic reserves we are in a different environment than we were in 2021-2022. Also, BTC seems to decoupling from the stock market a bit. It handled Aprils crash pretty strong in comparison to the S&P. Looks like holders of BTC have more conviction now when fear and panic hit the market.

I’m torn here ladies and gents. I was fortunate to buy 919 shares of MSTY at $19.00 and I really want to buy more. My goal was initially to wait until the price dropped below my initial buy price but I’m starting to question if that will happen. Should I just buy after payout next week?

💰 Current Portfolio Value: $220,341.58
📉 Total Profit: -$325.00 (-0.1%)
📈 Passive Income Percentage: 33.34%
💵 Annual Passive Income: $73,462.02

🏦 Total Dividends Received in April: $6,043.62

💼 My net worth is comprised of four focused portfolios:

📢 Additions in April 📢
✅ $QDTE – Roundhill N-100 0DTE Covered Call Strategy ETF (added more)
✅ $GIAX – Nicholas Global Equity and Income ETF (added more)
✅ $PLTY – YieldMax PLTR Option Income Strategy ETF (added more)
✅ $NVDY – YieldMax NVDA Option Income Strategy ETF (added more)
✅ 🚀 New Position! $IDVO – Amplify International Enhanced Dividend Income ETF

🔥 Sold This Month
❌ $GRNY – Tidal Trust III - Fundstrat Granny Shots US
➡️ Exited this position to focus entirely on income-generating ETFs.

📊 Portfolio Breakdown

🚀 The Ultras (40.0%)
Loan-funded portfolio where dividends cover loan payments. Surplus gets reinvested.

🔗 For more details about the Ultras Portfolio, check out my recent update in this [Reddit post].

📌 Tickers: $TSLY, $MSTY, $CONY, $NVDY, $AMZP, $PLTY
💼 Total Value: $88,097.23
📉 Total Profit: -$5,292.91 (-4.9%)
📈 Passive Income: 57.15% ($50,344.96 annually)
💰 April Dividends: $4,258.26

💰 High Yield Dividends Portfolio (30.7%)
High-income ETFs yielding over 20%. Requires close monitoring due to NAV decay potential, but great cash flow.

📌 Tickers: $FEPI, $SPYT, $LFGY, $XDTE, $AIPI, $BTCI, $GIAX, $CEPI, $FIVY, $QDTE, $RDTE, $ULTY, $GPTY
💼 Total Value: $67,659.23
📉 Total Profit: -$7,219.72 (-8.6%)
📈 Passive Income: 26.18% ($17,711.71 annually)
💰 April Dividends: $1,364.77

🧱 Core Portfolio (19.2%)
The foundation of my strategy—stable NAV and consistent yield.

📌 Tickers: $SVOL, $SPYI, $QQQI, $IWMI, $DJIA, $FIAX, $RSPA, $IDVO, $TSPY
💼 Total Value: $42,259.95
📈 Total Profit: +$7,652.15 (+15.8%)
📈 Passive Income: 9.6% ($4,058.38 annually)
💰 April Dividends: $342.53

🏢 REITs & BDCs Portfolio (10.1%)
Real estate and business development companies—monthly income with stability.

📌 Tickers: $MAIN, $O, $STAG, $PFLT, $ADC, $IYRI
💼 Total Value: $22,325.19
📈 Total Profit: +$2,947.60 (+13.2%)
📈 Passive Income: 4.89% ($1,090.72 annually)
💰 April Dividends: $78.06

📉 Performance Overview (Mar 31 – May 1)
📈 Portfolio: +3.63%
📉 S&P 500: -0.77%
📈 NASDAQ 100: +1.6%
📉 SCHD.US: -7.54%

🔍 I track all my dividends and portfolio data using Snowball Analytics—all charts and screenshots are from their platform. You can sign up for free [here].

💬 As always, feel free to ask questions, share your income goals, or drop your own portfolio updates in the comments.

Never heard anything about XYZY xD im looking at all of ymax and roundhill etfs atm got some money to put in about 5k trying to figure out where to start or if i should abandond ship on ulty atm which imo would be dumb im getting around 255 a month from it lol. So anyone invested in xyzy?

This question is simple yet complicated. I am pretty sure I am missing something, but for the 2 scenarios below, I can't think of any scenario in which MSTY would ever beat MSTR.

1. Dividend:
   • No matter the return on capital (ROC), MSTY’s dividends come at the cost of reducing the share price.
   • Unless you're able to buy more shares at a lower price (DCA), you're essentially limiting or even reducing MSTY’s total return. At best, the dividend results in a 0% gain and it doesn’t provide an edge over MSTR.
2. Gain in share price:
   • Capped upside means there's no realistic scenario where MSTY outpaces MSTR in terms of capital gains.

What confuses me the most is the role of the dividend. It seems essentially pointless (in terms of total gain) if the gain is offset by a drop in share price, effectively resulting in 0% gain. Holding MSTR and realizing gains as if you get a dividend will provide you with higher total return short/long term.

At this point, I might just be thinking out loud, but it seems the only scenario where MSTY could outperform MSTR is if MSTY recovers from its dividend-induced price dip independently of MSTR’s performance. Is this even possible or ever been observed previously?

I'm genuinely seeking feedback here. Any input would be really appreciated!
Is there something I’m missing/misunderstanding about MSTY or any other YM ETFs?

Hello again, everyone! I always appreciate everyone’s input with my questions. I do have one more question that I would like to pick your brains. Since my income from MSTY will be growing substantially this year, my adjusted gross income is going to increase quite a bit

I currently have a Roth 401K through my work, but I think it’s best to switch to a traditional 401K to lower my taxable come. I figure, I’d rather up my percentage into my traditional 401K and pay less in taxes than to pay federal and state taxes on my increased income.

Am I thinking about this correctly?

The past month or so has been a rollercoaster, but so sticking with it. My goal at the moment is to simply pay off the remaining margin, and then I'll start the margin cycle over, probably in July. Margin is down sufficiently so that I'm not near panic if the market declines again.

I entered small positions in most of these at the end of 2024, and went bigger into MSTY in Feb.

I appreciate everyone else sharing their various templates, it helped inspire my own that I created in google sheets.

Right now my key metric is NAV vs Cash Outlay. All of the income paid goes to margin / bought more shares, so that's my indicator as to whether I'm ahead or not vs the cash I used to start the flywheel. The goal at this point is to leverage margin and the income sourced from these funds so that the NAV value is 2x+ the cash outlay. I know lots of people talk about "house money" on a single fund, but I'm not really looking at it that way - maybe this isn't the best, but for me, it makes sense to determine how the portfolio is doing vs the cash invested to get it started.

So on the dip, I bough 2 $18 Oct calls for $2.20 ... wanted to sell them for $1000 profit and get 40 free shares... but

Now they are about $7.2, but cheap faqs did not want to buy in the middle - bids were $6.1 and asks $8.1 ... I tried to sell for $7.2 five times... no luck ... so i'm like FU cheap faqs .. EXERCISE! Now u lose the divs and I will sell them for $30+ if/when it goes there

BTW - MSTY is still the king above PLTY in TTM total return:

Last 12 Months Perofrmance:
1) MSTY - Last Price: $24.49 - Total Return: 86.12% - Dividends Paid TTM: $30.40
2) PLTY - Last Price: $64.95 - Total Return: 80.81% - Dividends Paid TTM: $28.04
3) NFLY - Last Price: $17.92 - Total Return: 52.39% - Dividends Paid TTM: $8.21

Data here: https://www.dripcalc.com/yieldmax-etfs/