Microstrategy (MSTR) Options ETP

Distribution Yield: 99.86%^*
*As of 10.11.2025. Past performance is not indicative of future results.

Buy YMST

Income Guide

Key Information

Strategy: Cash-Secured Put + Equity
Reference Asset: MSTR
Distributions: Monthly
Expense Ratio: 0.55%
Inception Date: 27 June 2025

Why Microstrategy Options ETP?

Maximum Income

Upside Exposure

Partial Downside Protection

The IncomeShares MicroStrategy (MSTR) Options ETP dynamically allocates between directly investing in MicroStrategy Inc shares (Nasdaq: MSTR) and selling put options on MSTR with strikes ranging from 5% OTM to 10% ITM. The strategy aims to generate high monthly income while retaining upside exposure to the extent of its holding in MSTR shares and the strikes of puts sold ITM. The ETP will also earn a return on the uninvested cash.

Capital at risk. You may lose some or all of your investment.

Distribution Details

As of 10 Nov 2025

Declaration Date	Ex-Date	Record Date	Payment Date	Distribution Per Share
31 Oct 2025	03 Nov 2025	04 Nov 2025	12 Nov 2025	$1.873
30 Sep 2025	01 Oct 2025	02 Oct 2025	10 Oct 2025	$1.808
29 Aug 2025	01 Sep 2025	02 Sep 2025	10 Sep 2025	$1.1344

Your total return till today, given you'd invested $10,000.00 on 27 June 2025

Starting Amount: $10,000.00
Price Gain: $-4,373.74
Price Growth (CAGR): N/A
Dividends: $1,375.05
Total Gain: $-2,998.69
End Balance: $7,001.31
Total Return: -29.99%
Total Return (CAGR): N/A

Distribution Calendar

Declaration Date	Ex-Date	Record Date	Payment Date	Distribution Per Share
31 Jul 2025	01 Aug 2025	04 Aug 2025	12 Aug 2025	$0.6852
29 Aug 2025	01 Sep 2025	02 Sep 2025	10 Sep 2025	$1.1344
30 Sep 2025	01 Oct 2025	02 Oct 2025	10 Oct 2025	$1.808
31 Oct 2025	03 Nov 2025	04 Nov 2025	12 Nov 2025	$1.873
28 Nov 2025	01 Dec 2025	02 Dec 2025	10 Dec 2025	N/A
31 Dec 2025	02 Jan 2026	05 Jan 2026	13 Jan 2026	N/A

Listings & Tickers

Country	Exchange	Base Currency	Trading Currency	Exchange Code	ISIN	SEDOL	BBG Ticker	RIC	WKN	Listing Date
UK	London Stock Exchange	USD	USD	YMST	XS3068775264	BP7M0H0	YMST LN	YMST.L	N/A	27 Jun 2025
UK	London Stock Exchange	USD	GBP	MSTI	XS3068775264	BP6WQW8	MSTI LN	MSTI.L	N/A	27 Jun 2025
DE	Deutsche Börse Xetra	USD	EUR	MSTI	XS3068775264	BP7M0J2	MSTI GY	MSTI.DE	A4AN01	15 Jul 2025
NL	Euronext Amsterdam	USD	EUR	MSTI	XS3068775264	BR4ZXT9	MSTI NA	MSTI.AS	N/A	15 Oct 2025

Holdings

As of 07 Nov 2025

Full Holdings List (CSV)

Name	Ticker	Weight, %	SEDOL	Market Price	Currency	Shares Held	Market Value
Cash	Cash_USD_56	79.99%	Cash	1	USD	1,503,280	1,503,280
MICROSTRATEGY INC-CL A	MSTR	25.01%	2974329	241.93	USD	1,943	470,070
MSTR Nov14'25 250.0 Put	MSTR 251114P00250000	-2.11%	N/A	13.6766	USD	-29	-39,662
MSTR Nov14'25 257.5 Put	MSTR 251114P00257500	-2.89%	N/A	18.7512	USD	-29	-54,379

Net Asset Value

NAV (as of '07 Nov 2025'): $22.51
Daily Change (of NAV): 0.39
Daily Return (based on % NAV change): 1.77%
Shares Outstanding: 83,500

Structure

Structure: ETP
Domicile: Ireland
Replication Method: Physical
Use of Income: Distributing
Underlying Asset: MicroStrategy Inc

Tax & Legal

UCITS Eligible: Yes
UK Fund Reporting Status: Pending
SIPP: Yes
ISA: Yes
US IRS Sec 871(m): Not applicable

Key Services Providers

Issuer: Leverage Shares PLC
Arranger: Leverage Shares Management Company Limited
Trustee: Apex Corporate Trustees (UK) Limited
Issuing and Paying Agent: U.S. Bank Europe DAC
Registrar: U.S. Bank Europe DAC
Custodian: Interactive Brokers LLC, Morgan Stanley & Co. LLC and/or Pershing LLC
Portfolio Administrators: Flexinvest Limited
Determination Agent: Calculation Agent Services LLC
Broker Dealer of Record: GWM Limited
Authorised Participants: BNP Paribas S.N.C., Virtu Financial Ireland Limited, Optiver V.O.F.