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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Defiance Daily Target 2X Long MSTR ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Defiance Daily Target 2X Long MSTR ETF (MSTX) has returned -49.22% so far this year and -92.42% over the past 12 months.
Defiance Daily Target 2X Long MSTR ETF
- 1D
- 5.68%
- 1M
- -13.11%
- YTD
- -49.22%
- 6M
- -90.86%
- 1Y
- -92.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Aug 15, 2024, MSTX's average daily return is +0.06%, while the average monthly return is -1.64%.
Historically, 35% of months were positive and 65% were negative. The best month was Nov 2024 with a return of +90.8%, while the worst month was Nov 2025 at -60.1%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 9 months.
On a daily basis, MSTX closed higher 47% of trading days. The best single day was Feb 6, 2026 with a return of +52.1%, while the worst single day was Feb 5, 2026 at -34.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -9.87% | -35.16% | -13.11% | -49.22% | |||||||||
| 2025 | 23.39% | -45.98% | 10.02% | 51.32% | -10.17% | 15.08% | -6.52% | -35.73% | -11.84% | -35.13% | -60.13% | -30.38% | -89.06% |
| 2024 | -1.87% | 45.20% | 78.25% | 90.81% | -51.02% | 137.37% |
Benchmark Metrics
Defiance Daily Target 2X Long MSTR ETF has an annualized alpha of -34.14%, beta of 4.87, and R² of 0.23 versus S&P 500 Index. Calculated based on daily prices since August 16, 2024.
- This ETF participated in 353.76% of S&P 500 Index downside but only -140.39% of its upside — more exposed to losses than it benefited from rallies.
- R² of 0.23 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -34.14%
- Beta
- 4.87
- R²
- 0.23
- Upside Capture
- -140.39%
- Downside Capture
- 353.76%
Expense Ratio
MSTX has a high expense ratio of 1.29%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MSTX ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Defiance Daily Target 2X Long MSTR ETF (MSTX) and compare them to a chosen benchmark (S&P 500 Index).
| MSTX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.63 | 0.90 | -1.52 |
Sortino ratioReturn per unit of downside risk | -1.48 | 1.39 | -2.87 |
Omega ratioGain probability vs. loss probability | 0.84 | 1.21 | -0.38 |
Calmar ratioReturn relative to maximum drawdown | -0.96 | 1.40 | -2.36 |
Martin ratioReturn relative to average drawdown | -1.43 | 6.61 | -8.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore MSTX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Defiance Daily Target 2X Long MSTR ETF provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $0.00 | $0.00 | $144.28 |
Dividend yield | 0.00% | 0.00% | 41.01% |
Monthly Dividends
The table displays the monthly dividend distributions for Defiance Daily Target 2X Long MSTR ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2024 | $144.28 | $144.28 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Defiance Daily Target 2X Long MSTR ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Defiance Daily Target 2X Long MSTR ETF was 98.66%, occurring on Feb 5, 2026. The portfolio has not yet recovered.
The current Defiance Daily Target 2X Long MSTR ETF drawdown is 98.44%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -98.66% | Nov 21, 2024 | 301 | Feb 5, 2026 | — | — | — |
| -38.9% | Aug 26, 2024 | 9 | Sep 6, 2024 | 14 | Sep 26, 2024 | 23 |
| -26.07% | Oct 30, 2024 | 4 | Nov 4, 2024 | 3 | Nov 7, 2024 | 7 |
| -16.43% | Nov 13, 2024 | 2 | Nov 14, 2024 | 2 | Nov 18, 2024 | 4 |
| -15.43% | Oct 14, 2024 | 4 | Oct 17, 2024 | 1 | Oct 18, 2024 | 5 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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