AIPO vs. MSTX

Last updated Jun 25, 2026

AIPO (Defiance AI & Power Infrastructure ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both exchange-traded funds - AIPO is a Building & Construction fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index, while MSTX is a Leveraged Equities fund actively managed by Defiance. AIPO is passively managed, while MSTX is actively managed. At a 0.46 correlation, their price movements are largely independent. AIPO charges 0.69%/yr vs 1.29%/yr for MSTX.

Performance

AIPO vs. MSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance AI & Power Infrastructure ETF (AIPO) and Defiance Daily Target 2X Long MSTR ETF (MSTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIPO achieves a 48.78% return, which is significantly higher than MSTX's -76.60% return.

AIPO

• 1D: -0.51%
• 1M: 1.70%
• YTD: 48.78%
• 6M: 44.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTX

• 1D: -18.76%
• 1M: -68.52%
• YTD: -76.60%
• 6M: -78.70%
• 1Y: -97.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AIPO vs. MSTX - Yearly Performance Comparison

	2026 (YTD)	2025
AIPO Defiance AI & Power Infrastructure ETF	48.78%	9.46%
MSTX Defiance Daily Target 2X Long MSTR ETF	-76.60%	-90.47%

Correlation

The correlation between AIPO and MSTX is 0.46, 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	0.46

Return for Risk

AIPO vs. MSTX — 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.

MSTX

MSTX Risk / Return Rank: 1
MSTX Sharpe Ratio Rank: 4
MSTX Sortino Ratio Rank: 0
MSTX Omega Ratio Rank: 0
MSTX Calmar Ratio Rank: 0
MSTX 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. MSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance AI & Power Infrastructure ETF (AIPO) and Defiance Daily Target 2X Long MSTR ETF (MSTX). 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	MSTX	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.67	—
Sortino ratio: Return per unit of downside risk	—	-2.46	—
Omega ratio: Gain probability vs. loss probability	—	0.75	—
Calmar ratio: Return relative to maximum drawdown	—	-0.99	—
Martin ratio: Return relative to average drawdown	—	-1.24	—

Drawdowns

AIPO vs. MSTX - Drawdown Comparison

The maximum AIPO drawdown since its inception was -17.31%, smaller than the maximum MSTX drawdown of -99.28%. Use the drawdown chart below to compare losses from any high point for AIPO and MSTX.

Drawdown Indicators

	AIPO	MSTX	Difference
Max Drawdown Largest peak-to-trough decline	-17.31%	-99.28%	+81.97%
Max Drawdown (1Y) Largest decline over 1 year	—	-98.18%	—
Current Drawdown Current decline from peak	-5.35%	-99.28%	+93.93%
Average Drawdown Average peak-to-trough decline	-4.45%	-70.66%	+66.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	78.63%	—

Volatility

Volatility by Period

	AIPO	MSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	47.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	116.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	35.52%	144.70%	-109.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.52%	167.44%	-131.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.52%	167.44%	-131.92%

AIPO vs. MSTX - Expense Ratio Comparison

AIPO has a 0.69% expense ratio, which is lower than MSTX's 1.29% expense ratio.

Dividends

AIPO vs. MSTX - Dividend Comparison

AIPO's dividend yield for the trailing twelve months is around 0.01%, while MSTX has not paid dividends to shareholders.

Position	TTM	2025	2024
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%
MSTX Defiance Daily Target 2X Long MSTR ETF	0.00%	0.00%	41.01%

Frequently Asked Questions

Can I hold both AIPO and MSTX in my portfolio?

AIPO and MSTX have a correlation of 0.46, 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 MSTX?

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 MSTX?

AIPO is cheaper with a 0.69% expense ratio, compared with 1.29% for MSTX.

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

AIPO has the higher dividend yield at 0.01%, compared with 0.00% for MSTX.

What is the main difference between AIPO and MSTX?

AIPO is categorized as Building & Construction, while MSTX is Leveraged Equities. Their fees differ too: 0.69% for AIPO and 1.29% for MSTX.