MST vs. ASST
MST (Defiance Leveraged Long Income MSTR ETF) is Derivative Income fund actively managed by Defiance, while ASST (Strive, Inc.) is a stock. Over the past year, MST returned -97.01% vs -91.12% for ASST. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
MST vs. ASST - Performance Comparison
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Returns By Period
In the year-to-date period, MST achieves a -74.03% return, which is significantly lower than ASST's -19.85% return.
MST
- 1D
- -4.63%
- 1M
- -47.34%
- 6M
- -76.65%
- YTD
- -74.03%
- 1Y
- -97.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ASST
- 1D
- -4.29%
- 1M
- -21.91%
- 6M
- -46.23%
- YTD
- -19.85%
- 1Y
- -91.12%
- 3Y*
- -56.58%
- 5Y*
- —
- 10Y*
- —
MST vs. ASST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MST Defiance Leveraged Long Income MSTR ETF | -74.03% | -87.60% |
ASST Strive, Inc. | -19.85% | 25.06% |
Correlation
The correlation between MST and ASST is 0.59, 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 | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 2, 2025 | 0.51 |
The correlation between MST and ASST has been stable across timeframes, ranging from 0.51 to 0.59 - 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 Strive, Inc. (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.
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.
| MST | ASST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 0.86 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.95 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.23 | -1.11 | -0.12 |
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Drawdowns
MST vs. ASST - Drawdown Comparison
The maximum MST drawdown since its inception was -97.68%, roughly equal to the maximum ASST drawdown of -98.78%. 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 | -97.68% | -98.78% | +1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -97.68% | -95.98% | -1.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -97.25% | — |
Current DrawdownCurrent decline from peak | -97.23% | -97.99% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -64.96% | -90.56% | +25.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 78.62% | 81.97% | -3.35% |
Volatility
MST vs. ASST - Volatility Comparison
Defiance Leveraged Long Income MSTR ETF (MST) has a higher volatility of 49.06% compared to Strive, Inc. (ASST) at 25.83%. 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 | 49.06% | 25.83% | +23.23% |
Volatility (6M)Calculated over the trailing 6-month period | 110.36% | 78.59% | +31.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 134.35% | 148.61% | -14.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 127.68% | 319.26% | -191.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 127.68% | 319.26% | -191.58% |
Dividends
MST vs. ASST - Dividend Comparison
MST's dividend yield for the trailing twelve months is around 1,341.56%, while ASST has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
ASST Strive, Inc. | 0.00% | 0.00% |
MST Defiance Leveraged Long Income MSTR ETF | 1,341.56% | 381.22% |
Frequently Asked Questions
MST and ASST have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MST has higher volatility (49.06%) compared to ASST (25.83%). In terms of maximum drawdown, MST dropped -97.68% vs ASST's -98.78%.
ASST currently has the higher Sharpe Ratio (-0.61 vs -0.72), 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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