JEDI vs. MST

Last updated Aug 4, 2026

JEDI (Defiance Drone and Modern Warfare ETF) and MST (Defiance Leveraged Long Income MSTR ETF) are both exchange-traded funds - JEDI is a Aerospace & Defense fund tracking the BITA Drone & Modern Warfare Select Index, while MST is a Derivative Income fund actively managed by Defiance. JEDI is passively managed, while MST is actively managed. Their 0.47 correlation means their historical movements had little consistent relationship. JEDI charges 0.69%/yr vs 1.31%/yr for MST.

Performance

JEDI vs. MST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Drone and Modern Warfare ETF (JEDI) 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, JEDI achieves a 4.94% return, which is significantly higher than MST's -71.85% return.

JEDI

• 1D: 6.52%
• 1M: -11.38%
• 6M: -5.91%
• YTD: 4.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

MST

• 1D: 2.77%
• 1M: -7.51%
• 6M: -65.49%
• YTD: -71.85%
• 1Y: -95.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -93.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JEDI Defiance Drone and Modern Warfare ETF	$2.72M	$3.86M	$7.29M
MST Defiance Leveraged Long Income MSTR ETF	$621.27K	$597.13K	$1.39M

JEDI vs. MST - Yearly Performance Comparison

	2026 (YTD)	2025
JEDI Defiance Drone and Modern Warfare ETF	4.94%	-3.42%
MST Defiance Leveraged Long Income MSTR ETF	-71.85%	-75.01%

Correlation

The correlation between JEDI and MST is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	0.47

Return for Risk

JEDI vs. MST — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JEDI

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

MST

MST Risk / Return Rank: 2
MST Sharpe Ratio Rank: 3
MST Sortino Ratio Rank: 0
MST Omega Ratio Rank: 1
MST Calmar Ratio Rank: 0
MST Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JEDI vs. MST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Drone and Modern Warfare ETF (JEDI) 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.

	JEDI	MST	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.71	—
Sortino ratio: Return per unit of downside risk	—	-2.24	—
Omega ratio: Gain probability vs. loss probability	—	0.77	—
Calmar ratio: Return relative to maximum drawdown	—	-0.98	—
Martin ratio: Return relative to average drawdown	—	-1.23	—

Drawdowns

JEDI vs. MST - Drawdown Comparison

The maximum JEDI drawdown since its inception was -48.21%, smaller than the maximum MST drawdown of -97.68%. Use the drawdown chart below to compare losses from any high point for JEDI and MST.

Drawdown Indicators

	JEDI	MST	Difference
Max Drawdown Largest peak-to-trough decline	-48.21%	-97.68%	+49.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-96.92%	—
Current Drawdown Current decline from peak	-39.96%	-97.00%	+57.04%
Average Drawdown Average peak-to-trough decline	-14.06%	-66.49%	+52.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	77.59%	—

Volatility

Volatility by Period

	JEDI	MST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	27.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	108.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	53.81%	134.67%	-80.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.81%	126.67%	-72.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.81%	126.67%	-72.86%

JEDI vs. MST - Expense Ratio Comparison

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

Dividends

JEDI vs. MST - Dividend Comparison

JEDI has not paid dividends to shareholders, while MST's dividend yield for the trailing twelve months is around 1,010.47%.

Position	TTM	2025
JEDI Defiance Drone and Modern Warfare ETF	0.00%	0.00%
MST Defiance Leveraged Long Income MSTR ETF	1,010.47%	381.22%

Frequently Asked Questions

Can I hold both JEDI and MST in my portfolio?

JEDI and MST have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEDI or MST?

On fees, JEDI 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, JEDI or MST?

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

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

MST has the higher dividend yield at 1010.47%, compared with 0.00% for JEDI.

What is the main difference between JEDI and MST?

JEDI is categorized as Aerospace & Defense, while MST is Derivative Income. Their fees differ too: 0.69% for JEDI and 1.31% for MST.