MPL vs. SPYT

Last updated Jun 27, 2026

MPL (Defiance Daily Target 2X Long MP ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - MPL is a Leveraged Equities fund actively managed by Defiance, while SPYT is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. MPL charges 1.31%/yr vs 0.87%/yr for SPYT.

Performance

MPL vs. SPYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long MP ETF (MPL) and Defiance S&P 500 Income Target ETF (SPYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MPL

• 1D: -7.21%
• 1M: -36.07%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYT

• 1D: -0.06%
• 1M: -2.39%
• YTD: 7.02%
• 6M: 6.01%
• 1Y: 17.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MPL vs. SPYT - Yearly Performance Comparison

	2026 (YTD)
MPL Defiance Daily Target 2X Long MP ETF	-36.50%
SPYT Defiance S&P 500 Income Target ETF	-1.79%

Correlation

The correlation between MPL and SPYT is 0.41, 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	0.41

Return for Risk

MPL vs. SPYT — Risk / Return Rank

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

MPL

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

SPYT

SPYT Risk / Return Rank: 51
SPYT Sharpe Ratio Rank: 48
SPYT Sortino Ratio Rank: 46
SPYT Omega Ratio Rank: 53
SPYT Calmar Ratio Rank: 48
SPYT Martin Ratio Rank: 60

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.

MPL vs. SPYT - 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 S&P 500 Income Target ETF (SPYT). 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	SPYT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.51	—
Sortino ratio: Return per unit of downside risk	—	2.09	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.15	—
Martin ratio: Return relative to average drawdown	—	9.38	—

Drawdowns

MPL vs. SPYT - Drawdown Comparison

The maximum MPL drawdown since its inception was -47.44%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for MPL and SPYT.

Drawdown Indicators

	MPL	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-47.44%	-18.25%	-29.19%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.00%	—
Current Drawdown Current decline from peak	-47.44%	-3.10%	-44.34%
Average Drawdown Average peak-to-trough decline	-27.24%	-2.01%	-25.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.83%	—

Volatility

Volatility by Period

	MPL	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	140.24%	11.42%	+128.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	140.24%	14.86%	+125.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	140.24%	14.86%	+125.38%

MPL vs. SPYT - Expense Ratio Comparison

MPL has a 1.31% expense ratio, which is higher than SPYT's 0.87% expense ratio.

Dividends

MPL vs. SPYT - Dividend Comparison

MPL has not paid dividends to shareholders, while SPYT's dividend yield for the trailing twelve months is around 21.24%.

Position	TTM	2025	2024
MPL Defiance Daily Target 2X Long MP ETF	0.00%	0.00%	0.00%
SPYT Defiance S&P 500 Income Target ETF	21.24%	21.40%	17.37%

Frequently Asked Questions

Can I hold both MPL and SPYT in my portfolio?

MPL and SPYT have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MPL or SPYT?

On fees, SPYT is cheaper at 0.87% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MPL or SPYT?

SPYT is cheaper with a 0.87% expense ratio, compared with 1.31% for MPL.

Which ETF pays a higher dividend yield, MPL or SPYT?

SPYT has the higher dividend yield at 21.24%, compared with 0.00% for MPL.

What is the main difference between MPL and SPYT?

MPL is categorized as Leveraged Equities, while SPYT is Derivative Income. Their fees differ too: 1.31% for MPL and 0.87% for SPYT.