MPL vs. MSTX
MPL (Defiance Daily Target 2X Long MP ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both Leveraged Equities funds from Defiance. Both are actively managed. At a 0.24 correlation, their price movements are largely independent. MPL charges 1.31%/yr vs 1.29%/yr for MSTX.
Performance
MPL vs. MSTX - Performance Comparison
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Returns By Period
MPL
- 1D
- -7.21%
- 1M
- -36.07%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTX
- 1D
- -7.78%
- 1M
- -74.50%
- YTD
- -82.44%
- 6M
- -83.94%
- 1Y
- -98.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MPL vs. MSTX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MPL Defiance Daily Target 2X Long MP ETF | -36.50% |
MSTX Defiance Daily Target 2X Long MSTR ETF | -76.38% |
Correlation
The correlation between MPL and MSTX is 0.24, 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 May 26, 2026 | 0.24 |
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Return for Risk
MPL vs. MSTX — Risk / Return Rank
MPL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MSTX
MPL vs. MSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long MP ETF (MPL) 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.
| MPL | MSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.72 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -1.00 | — |
| Martin ratioReturn relative to average drawdown | — | -1.24 | — |
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Drawdowns
MPL vs. MSTX - Drawdown Comparison
The maximum MPL drawdown since its inception was -47.44%, smaller than the maximum MSTX drawdown of -99.46%. Use the drawdown chart below to compare losses from any high point for MPL and MSTX.
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Drawdown Indicators
| MPL | MSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.44% | -99.46% | +52.02% |
Max Drawdown (1Y)Largest decline over 1 year | — | -98.63% | — |
Current DrawdownCurrent decline from peak | -47.44% | -99.46% | +52.02% |
Average DrawdownAverage peak-to-trough decline | -27.24% | -70.79% | +43.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 79.12% | — |
Volatility
MPL vs. MSTX - Volatility Comparison
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Volatility by Period
| MPL | MSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 49.59% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 117.88% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 140.24% | 145.60% | -5.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 140.24% | 167.73% | -27.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 140.24% | 167.73% | -27.49% |
MPL vs. MSTX - Expense Ratio Comparison
MPL has a 1.31% expense ratio, which is higher than MSTX's 1.29% expense ratio.
Dividends
MPL vs. MSTX - Dividend Comparison
Neither MPL nor MSTX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MPL Defiance Daily Target 2X Long MP ETF | 0.00% | 0.00% | 0.00% |
MSTX Defiance Daily Target 2X Long MSTR ETF | 0.00% | 0.00% | 41.01% |
Frequently Asked Questions
MPL and MSTX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MSTX is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSTX is cheaper with a 1.29% expense ratio, compared with 1.31% for MPL.
MPL and MSTX have nearly identical dividend yields, around 0.00%.
Their fees differ too: 1.31% for MPL and 1.29% for MSTX.
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