MST vs. MSTW

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Leveraged Long Income MSTR ETF (MST) and Roundhill MSTR WeeklyPay ETF (MSTW).

MST and MSTW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MST is an actively managed fund by Defiance. It was launched on May 1, 2025. MSTW is an actively managed fund by Roundhill. It was launched on Jul 23, 2025.

Performance

MST vs. MSTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Leveraged Long Income MSTR ETF (MST) and Roundhill MSTR WeeklyPay ETF (MSTW). The values are adjusted to include any dividend payments, if applicable.

MST vs. MSTW - Yearly Performance Comparison

	2026 (YTD)	2025
MST Defiance Leveraged Long Income MSTR ETF	-39.41%	-87.29%
MSTW Roundhill MSTR WeeklyPay ETF	-22.66%	-71.42%

Returns By Period

In the year-to-date period, MST achieves a -39.41% return, which is significantly lower than MSTW's -22.66% return.

MST

• 1D: 4.61%
• 1M: -10.28%
• YTD: -39.41%
• 6M: -86.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTW

• 1D: 3.64%
• 1M: -5.24%
• YTD: -22.66%
• 6M: -69.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MST vs. MSTW - Expense Ratio Comparison

MST has a 1.31% expense ratio, which is higher than MSTW's 0.99% expense ratio.

MST

Defiance Leveraged Long Income MSTR ETF

MSTW

Roundhill MSTR WeeklyPay ETF

Return for Risk

MST vs. MSTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Leveraged Long Income MSTR ETF (MST) and Roundhill MSTR WeeklyPay ETF (MSTW). 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.

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

Sharpe Ratios by Period

	MST	MSTW	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.77	-0.99	+0.22

Correlation

The correlation between MST and MSTW is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MST vs. MSTW - Dividend Comparison

MST's dividend yield for the trailing twelve months is around 788.18%, more than MSTW's 193.06% yield.

	TTM	2025
MST Defiance Leveraged Long Income MSTR ETF	788.18%	381.22%
MSTW Roundhill MSTR WeeklyPay ETF	193.06%	106.94%

Drawdowns

MST vs. MSTW - Drawdown Comparison

The maximum MST drawdown since its inception was -94.99%, which is greater than MSTW's maximum drawdown of -81.85%. Use the drawdown chart below to compare losses from any high point for MST and MSTW.

Drawdown Indicators

	MST	MSTW	Difference
Max Drawdown Largest peak-to-trough decline	-94.99%	-81.85%	-13.14%
Current Drawdown Current decline from peak	-93.54%	-77.90%	-15.64%
Average Drawdown Average peak-to-trough decline	-56.73%	-50.31%	-6.42%

Volatility

Volatility by Period

	MST	MSTW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	122.97%	89.87%	+33.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	122.97%	89.87%	+33.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.97%	89.87%	+33.10%