AIPO vs. MST

Last updated Jul 17, 2026

AIPO (Defiance AI & Power Infrastructure ETF) and MST (Defiance Leveraged Long Income MSTR ETF) are both exchange-traded funds - AIPO is a Building & Construction fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index, while MST is a Derivative Income fund actively managed by Defiance. AIPO is passively managed, while MST is actively managed. At a 0.42 correlation, their price movements are largely independent. AIPO charges 0.69%/yr vs 1.31%/yr for MST.

Performance

AIPO vs. MST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance AI & Power Infrastructure ETF (AIPO) and Defiance Leveraged Long Income MSTR ETF (MST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIPO achieves a 32.32% return, which is significantly higher than MST's -72.88% return.

AIPO

• 1D: -4.06%
• 1M: -9.52%
• 6M: 21.25%
• YTD: 32.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MST

• 1D: -5.37%
• 1M: -44.37%
• 6M: -77.72%
• YTD: -72.88%
• 1Y: -97.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIPO vs. MST - Yearly Performance Comparison

	2026 (YTD)	2025
AIPO Defiance AI & Power Infrastructure ETF	32.32%	9.46%
MST Defiance Leveraged Long Income MSTR ETF	-72.88%	-87.29%

Correlation

The correlation between AIPO and MST is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.42

Return for Risk

AIPO vs. MST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIPO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MST

MST Risk / Return Rank: 1
MST Sharpe Ratio Rank: 3
MST Sortino Ratio Rank: 0
MST Omega Ratio Rank: 0
MST Calmar Ratio Rank: 0
MST Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIPO vs. MST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance AI & Power Infrastructure ETF (AIPO) and Defiance Leveraged Long Income MSTR ETF (MST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AIPO	MST	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.72	—
Sortino ratio: Return per unit of downside risk	—	-2.66	—
Omega ratio: Gain probability vs. loss probability	—	0.72	—
Calmar ratio: Return relative to maximum drawdown	—	-0.99	—
Martin ratio: Return relative to average drawdown	—	-1.23	—

Drawdowns

AIPO vs. MST - Drawdown Comparison

The maximum AIPO drawdown since its inception was -17.31%, smaller than the maximum MST drawdown of -97.68%. Use the drawdown chart below to compare losses from any high point for AIPO and MST.

Drawdown Indicators

	AIPO	MST	Difference
Max Drawdown Largest peak-to-trough decline	-17.31%	-97.68%	+80.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-97.64%	—
Current Drawdown Current decline from peak	-15.82%	-97.11%	+81.29%
Average Drawdown Average peak-to-trough decline	-4.77%	-65.28%	+60.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	79.33%	—

Volatility

Volatility by Period

	AIPO	MST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	47.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	109.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.08%	134.41%	-98.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.08%	127.52%	-91.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.08%	127.52%	-91.44%

AIPO vs. MST - Expense Ratio Comparison

AIPO has a 0.69% expense ratio, which is lower than MST's 1.31% expense ratio.

Dividends

AIPO vs. MST - Dividend Comparison

AIPO's dividend yield for the trailing twelve months is around 0.01%, less than MST's 1,176.23% yield.

Position	TTM	2025
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%
MST Defiance Leveraged Long Income MSTR ETF	1,176.23%	381.22%

Frequently Asked Questions

Can I hold both AIPO and MST in my portfolio?

AIPO and MST have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AIPO or MST?

On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AIPO or MST?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.31% for MST.

Which ETF pays a higher dividend yield, AIPO or MST?

MST has the higher dividend yield at 1176.23%, compared with 0.01% for AIPO.

What is the main difference between AIPO and MST?

AIPO is categorized as Building & Construction, while MST is Derivative Income. Their fees differ too: 0.69% for AIPO and 1.31% for MST.