MST vs. ASST
MST (Defiance Leveraged Long Income MSTR ETF) is Derivative Income fund actively managed by Defiance, while ASST (Asset Entities Inc. Class B Common Stock) is a stock. Over the past year, MST returned -92.85% vs -89.47% for ASST. At a 0.48 correlation, their price movements are largely independent.
Performance
MST vs. ASST - Performance Comparison
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Returns By Period
In the year-to-date period, MST achieves a -46.90% return, which is significantly lower than ASST's -0.14% return.
MST
- 1D
- -14.62%
- 1M
- -51.85%
- YTD
- -46.90%
- 6M
- -62.90%
- 1Y
- -92.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ASST
- 1D
- -8.56%
- 1M
- -9.87%
- YTD
- -0.14%
- 6M
- -29.81%
- 1Y
- -89.47%
- 3Y*
- -47.18%
- 5Y*
- —
- 10Y*
- —
MST vs. ASST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MST Defiance Leveraged Long Income MSTR ETF | -46.90% | -87.72% |
ASST Asset Entities Inc. Class B Common Stock | -0.14% | 18.08% |
Correlation
The correlation between MST and ASST is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since May 5, 2025 | 0.48 |
The correlation between MST and ASST has been stable across timeframes, ranging from 0.48 to 0.50 - a consistent structural relationship.
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Return for Risk
MST vs. ASST — Risk / Return Rank
MST
ASST
MST vs. ASST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Leveraged Long Income MSTR ETF (MST) and Asset Entities Inc. Class B Common Stock (ASST). 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.
| MST | ASST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.90 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.93 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.28 | -1.15 | -0.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MST | ASST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.74 | -0.54 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.74 | -0.19 | -0.55 |
Drawdowns
MST vs. ASST - Drawdown Comparison
The maximum MST drawdown since its inception was -94.99%, roughly equal to the maximum ASST drawdown of -97.98%. Use the drawdown chart below to compare losses from any high point for MST and ASST.
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Drawdown Indicators
| MST | ASST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.99% | -97.98% | +2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -94.99% | -95.98% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -97.25% | — |
Current DrawdownCurrent decline from peak | -94.34% | -95.85% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -62.22% | -84.09% | +21.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.32% | 77.76% | -5.44% |
Volatility
MST vs. ASST - Volatility Comparison
Defiance Leveraged Long Income MSTR ETF (MST) has a higher volatility of 35.73% compared to Asset Entities Inc. Class B Common Stock (ASST) at 23.94%. This indicates that MST's price experiences larger fluctuations and is considered to be riskier than ASST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MST | ASST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 35.73% | 23.94% | +11.79% |
Volatility (6M)Calculated over the trailing 6-month period | 101.54% | 81.76% | +19.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 126.60% | 165.43% | -38.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 123.87% | 323.23% | -199.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 123.87% | 323.23% | -199.36% |
Dividends
MST vs. ASST - Dividend Comparison
MST's dividend yield for the trailing twelve months is around 891.75%, while ASST has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
ASST Asset Entities Inc. Class B Common Stock | 0.00% | 0.00% |
MST Defiance Leveraged Long Income MSTR ETF | 891.75% | 381.22% |
Frequently Asked Questions
MST and ASST have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MST has higher volatility (35.73%) compared to ASST (23.94%). In terms of maximum drawdown, MST dropped -94.99% vs ASST's -97.98%.
ASST currently has the higher Sharpe Ratio (-0.54 vs -0.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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