ULTY vs MSTY — income now or growth kept?

ULTY and MSTY both distribute weekly option income, but their concentration differs. ULTY rotates option-income positions across a basket of volatile single stocks. MSTY sells options on a synthetic MSTR position, tying its market exposure to one company. Multiple sleeves can spread company-specific exposure, yet ULTY still exchanges some upside for option premium and retains market and strategy risk. As of July 15, 2026, issuer data showed prices of $28.19 for ULTY and $13.22 for MSTY.

ULTY's distribution rate was 60.91% and its SEC 30-day yield was 1.40%. MSTY's distribution rate was 81.30%, while its SEC yield was 1.03%. Distribution rate annualizes a recent payout pace; SEC yield measures net investment income under a standardized method. Option proceeds and return-of-capital classification can make those figures diverge sharply. The larger distribution rate is not a total-return ranking, and neither rate is a payout forecast.

The latest 12 recurring ULTY events totaled $4.5219 per share, with a $0.37682 average and a $0.3302-to-$0.4046 range. MSTY's corresponding total was $3.6339, with a $0.30283 average and a $0.1549-to-$0.5553 range. Compared with the prior 12 events, ULTY's total declined 12.64% and MSTY's declined 14.10%. These are event-window changes from the stored payout histories, not annual trends. The tighter recent ULTY range also does not establish lower future volatility.

ULTY's expense ratio was 1.40%, versus 1.03% for MSTY. Their reported trailing return-of-capital shares were 85% and 56%. Return of capital generally reduces cost basis and can defer tax, subject to final year-end reporting; it is neither extra return nor automatically harmful. The structural choice being modeled is a rotating multi-position option strategy versus one MSTR-linked synthetic position, with both sides still exposed to payout cuts, NAV changes, and capped upside.

AI-assisted analysis · generated 2026-07-17 from each fund’s stored, issuer-sourced data · reviewed structure, not advice