• $ YMST
  • £ MSTI
  • € MSTI

Microstrategy (MSTR) Options ETP

Distribution Yield*: 82.44% *

*As of 07.01.2026 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
Domicile
Ireland

Why Microstrategy Options ETP?

maximum-income

Maximum Income

upside-exposure

Upside Exposure

partial-downside-protection

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 07 Jan 2026

Distributions Per Share, $

* Cumulative extrinsic option premiums + interest on cash, accrued month-to-date. Updated as of 05 Jan 2026

** The indicative per share distribution is a forecasted figure, calculated from accrued option premiums and interest on cash collateral since the last declaration date, projected to the next declaration date and divided by shares outstanding. This amount is provided for illustration only and may differ from the final distribution declared. Actual distributions will depend on option premiums received, interest earned, expenses, and changes in shares outstanding. Updated as of 05 Jan 2026

Declaration Date Ex-Date Record Date Payment Date Distribution Per Share
31 Dec 2025 02 Jan 2026 05 Jan 2026 13 Jan 2026 $1.0125
28 Nov 2025 01 Dec 2025 02 Dec 2025 10 Dec 2025 $1.1262
31 Oct 2025 03 Nov 2025 04 Nov 2025 12 Nov 2025 $1.873

Select period:

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

Starting Amount
$10,000.00
Price Gain
-$6,315.72
Price Growth (CAGR)
N/A
Distributions
$1,909.69
Total Gain
-$4,406.03
End Balance
$5,593.97
Total Return
-44.06%
Total Return (CAGR)
N/A
Distribution Calendar

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 $1.1262
31 Dec 2025 02 Jan 2026 05 Jan 2026 13 Jan 2026 $1.0125

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 06 Jan 2026

Full Holdings List (CSV)
Name Ticker Weight, % SEDOL Market Price Currency Shares Held Market Value
Cash Cash_USD_56 81.85% Cash 1 USD 1,622,470 1,622,470
MICROSTRATEGY INC-CL A MSTR 23.64% 2974329 157.97 USD 2,966 468,539
MSTR Jan09'26 165.0 Put MSTR 260109P00165000 -2.33% N/A 8.5596 USD -54 -46,222
MSTR Jan09'26 167.5 Put MSTR 260109P00167500 -3.15% N/A 10.5932 USD -59 -62,500

Net Asset Value

NAV (as of '06 Jan 2026')
$14.74
Daily Change (of NAV)
-$0.27
Daily Return (based on % NAV change)
-1.81%
Shares Outstanding
134,500
AUM
1,982,285

Structure

Structure
ETP
Domicile
Ireland
Replication Method
Physical
Use of Income
Distributing
Physical Assets
N/A
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.

ETP Documents

Fact Sheet
Final Terms
Final Terms FCA
Final Terms CBI
Key Information Documents
2026-01 UK DE ES FR IT NL PL SV
2025-12 UK DE ES FR IT NL PL SV
2025-11 UK DE ES FR IT NL PL SV
2025-10 UK DE ES FR IT NL PL SV
2025-09 UK DE ES FR IT NL PL SV
2025-08 UK DE ES FR IT NL PL SV
2025-07 UK DE ES FR IT NL PL SV
2025-06 UK DE ES FR IT NL PL
Reportable Income
EMT
Supplemental Trust Deed
Prospectus
Prospectus (CBI) 23 June 2025
Prospectus (FCA) 23 June 2025
Prospectus (FCA) 17 July 2024
Prospectus (CBI) 17 July 2024
Prospectus (FCA) 15 March 2024
Prospectus (CBI) 15 March 2024
Prospectus (FCA) 18 October 2023
Prospectus (CBI) 18 October 2023
Prospectus (FCA) 04 May 2023
Prospectus (CBI) 04 May 2023
Supplement 17 October 2022
Supplement 01 June 2022
Prospectus 16 May 2022
Prospectus 07 December 2021
Supplement 08 October 2021
Supplement 17 September 2021
Supplement 06 May 2021
Supplement 04 March 2021
Prospectus 18 December 2020
Prospectus 09 November 2020
Prospectus 05 February 2020

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This is a financial promotion for the purposes of s21 of the UK Financial Services and Markets Act 2000 (“FSMA”) which has been approved by Leela Capital Regulatory Solutions Limited (“LCRS”), authorised by the Financial Conduct Authority (FCA) (FRN 845185) for communication by Leverage Shares Management Company Limited as at 1st June 2025. LCRS is incorporated in England and Wales, company number 10161396, registered office 82 St John Street, London, EC1M 4JN

Please refer to the ETP Prospectus and Key Investor Information Document (“KIID”) before making any investment decisions.

Prospect Avenue, Clontarf, Dublin 3, Ireland and is Registered in Ireland under registration number 596207.

The information is intended only to provide general and preliminary information to investors and shall not be construed as investment, legal or tax advice. Leverage Shares Public Limited Company and the Arranger (together referred as “Income Shares”) assume no liability with regards to any investment, divestment or retention decision taken by the investor on the basis of this information.

Opinions are current as of the publication date and are subject to change with market conditions.

Investing involves high risks, including potential loss of all your money. Investors should be aware that past performance is not a reliable indicator of future results. Forecasts are not a reliable indicator of future performance. Seek independent advice where necessary.

© Income Shares 2026