BU vs. MSTX
BU (Defiance Daily Target 2X Long B ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both Leveraged Equities funds from Defiance. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. Both charge a 1.29% expense ratio.
Performance
BU vs. MSTX - Performance Comparison
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Returns By Period
In the year-to-date period, BU achieves a -29.80% return, which is significantly higher than MSTX's -71.19% return.
BU
- 1D
- 0.00%
- 1M
- -6.46%
- YTD
- -29.80%
- 6M
- -36.49%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTX
- 1D
- -10.71%
- 1M
- -61.25%
- YTD
- -71.19%
- 6M
- -73.53%
- 1Y
- -96.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BU vs. MSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BU Defiance Daily Target 2X Long B ETF | -29.80% | 27.72% |
MSTX Defiance Daily Target 2X Long MSTR ETF | -71.19% | -50.64% |
Correlation
The correlation between BU and MSTX is 0.23, 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 Nov 19, 2025 | 0.23 |
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Return for Risk
BU vs. MSTX — Risk / Return Rank
BU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MSTX
BU vs. MSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long B ETF (BU) 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.
| BU | MSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.76 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.99 | — |
| Martin ratioReturn relative to average drawdown | — | -1.23 | — |
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Drawdowns
BU vs. MSTX - Drawdown Comparison
The maximum BU drawdown since its inception was -53.98%, smaller than the maximum MSTX drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for BU and MSTX.
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Drawdown Indicators
| BU | MSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.98% | -99.11% | +45.13% |
Max Drawdown (1Y)Largest decline over 1 year | — | -97.76% | — |
Current DrawdownCurrent decline from peak | -51.59% | -99.11% | +47.52% |
Average DrawdownAverage peak-to-trough decline | -27.44% | -70.60% | +43.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 78.39% | — |
Volatility
BU vs. MSTX - Volatility Comparison
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Volatility by Period
| BU | MSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 44.91% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 114.95% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 95.37% | 143.60% | -48.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 95.37% | 167.05% | -71.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.37% | 167.05% | -71.68% |
BU vs. MSTX - Expense Ratio Comparison
Both BU and MSTX have an expense ratio of 1.29%.
Dividends
BU vs. MSTX - Dividend Comparison
Neither BU nor MSTX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BU Defiance Daily Target 2X Long B ETF | 0.00% | 0.00% | 0.00% |
MSTX Defiance Daily Target 2X Long MSTR ETF | 0.00% | 0.00% | 41.01% |
Frequently Asked Questions
BU and MSTX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 1.29% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BU and MSTX have the same expense ratio: 1.29% per year.
BU and MSTX have nearly identical dividend yields, around 0.00%.
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