MSTY Fees and Costs — YieldMax MSTR Option Income Strategy ETF
Data updated: 2026-09-28
The net expense ratio is 0.99%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $6.7M in broker commissions, 0.2081% of average net assets, and portfolio turnover was 0%.
MSTY Fees and Expenses
Annual operating expenses and sales charges of MSTY. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.99% |
| Fee waiver | — |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MSTY Costs Over Time
On $10,000 invested in MSTY, assuming 5% a year before costs, total costs come to $746 over 5 years, cutting the return by 1.26% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.99%) | $104 | $324 | $560 |
| Trading costs (broker commissions) | $22 | $68 | $118 |
| Lost growth on money paid in costs | $0 | $19 | $69 |
| Total costs | $126 | $411 | $746 |
| Value after costs | $10,374 | $11,165 | $12,016 |
| Impact on return, per year | 1.26% | 1.26% | 1.26% |
MSTY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2081%
- Total broker commissions: $6.7M
- Bought from dealers (principal trades, not a cost): $9.3B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
MSTY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $1.9M | 28.15% |
| JANE STREET EXECUTION SERVICES LLC | $1.3M | 20.09% |
| CITADEL SECURITIES LLC | $981K | 14.75% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $769K | 11.57% |
| GOLDMAN SACHS & CO. LLC | $743K | 11.17% |
| SIGMA FINANCIAL CORPORATION | $556K | 8.35% |
| OLD MISSION MARKETS LLC | $174K | 2.62% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $91K | 1.36% |
| IMC-CHICAGO LLC | $69K | 1.04% |
| CANTOR FITZGERALD & CO. | $60K | 0.90% |
MSTY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $4.1B | 44.48% |
| MORGAN STANLEY & CO. LLC | $1.8B | 19.56% |
| BMO CAPITAL MARKETS CORP. | $843.6M | 9.19% |
| RBC CAPITAL MARKETS LLC | $650.5M | 7.09% |
| STONEX FINANCIAL INC. | $616.4M | 6.71% |
| JEFFERIES LLC | $454.4M | 4.95% |
| PERSHING LLC | $443.5M | 4.83% |
| GOLDMAN SACHS & CO. LLC | $102.1M | 1.11% |
| J.P. MORGAN SECURITIES LLC | $99.6M | 1.09% |
| CITADEL SECURITIES LLC | $90.9M | 0.99% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.