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 -94.85% vs -85.94% for ASST. At a 0.49 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 -64.78% return, which is significantly lower than ASST's -5.49% return.
MST
- 1D
- -9.27%
- 1M
- -57.88%
- YTD
- -64.78%
- 6M
- -66.93%
- 1Y
- -94.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ASST
- 1D
- -5.81%
- 1M
- -23.39%
- YTD
- -5.49%
- 6M
- -13.40%
- 1Y
- -85.94%
- 3Y*
- -61.68%
- 5Y*
- —
- 10Y*
- —
MST vs. ASST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MST Defiance Leveraged Long Income MSTR ETF | -64.78% | -87.60% |
ASST Asset Entities Inc. Class B Common Stock | -5.49% | 25.06% |
Correlation
The correlation between MST and ASST is 0.54, 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 | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 2, 2025 | 0.49 |
The correlation between MST and ASST has been stable across timeframes, ranging from 0.49 to 0.54 - 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.
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 | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 0.92 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.90 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.26 | -1.08 | -0.18 |
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Drawdowns
MST vs. ASST - Drawdown Comparison
The maximum MST drawdown since its inception was -96.24%, 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 | -96.24% | -98.78% | +2.54% |
Max Drawdown (1Y)Largest decline over 1 year | -96.24% | -95.98% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | — | -97.25% | — |
Current DrawdownCurrent decline from peak | -96.24% | -97.63% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -63.50% | -90.44% | +26.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 75.46% | 79.54% | -4.08% |
Volatility
MST vs. ASST - Volatility Comparison
Defiance Leveraged Long Income MSTR ETF (MST) has a higher volatility of 40.51% compared to Asset Entities Inc. Class B Common Stock (ASST) at 22.42%. 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 | 40.51% | 22.42% | +18.09% |
Volatility (6M)Calculated over the trailing 6-month period | 103.49% | 81.03% | +22.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 129.73% | 162.85% | -33.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 124.35% | 321.48% | -197.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 124.35% | 321.48% | -197.13% |
Dividends
MST vs. ASST - Dividend Comparison
MST's dividend yield for the trailing twelve months is around 1,159.04%, 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 | 1,159.04% | 381.22% |
Frequently Asked Questions
MST and ASST have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MST has higher volatility (40.51%) compared to ASST (22.42%). In terms of maximum drawdown, MST dropped -96.24% vs ASST's -98.78%.
ASST currently has the higher Sharpe Ratio (-0.53 vs -0.73), 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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