MST vs. MSTW
MST (Defiance Leveraged Long Income MSTR ETF) and MSTW (Roundhill MSTR WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. With a 0.99 correlation, they move nearly in lockstep. MST charges 1.31%/yr vs 0.99%/yr for MSTW.
Performance
MST vs. MSTW - Performance Comparison
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Returns By Period
In the year-to-date period, MST achieves a -61.17% return, which is significantly lower than MSTW's -36.63% return.
MST
- 1D
- -5.16%
- 1M
- -53.58%
- YTD
- -61.17%
- 6M
- -65.98%
- 1Y
- -94.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTW
- 1D
- -3.65%
- 1M
- -37.84%
- YTD
- -36.63%
- 6M
- -42.39%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MST vs. MSTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MST Defiance Leveraged Long Income MSTR ETF | -61.17% | -87.17% |
MSTW Roundhill MSTR WeeklyPay ETF | -36.63% | -71.40% |
Correlation
The correlation between MST and MSTW is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025 | 0.99 |
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Return for Risk
MST vs. MSTW — Risk / Return Rank
MST
MSTW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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 | MSTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.77 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | — | — |
| Martin ratioReturn relative to average drawdown | -1.25 | — | — |
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Drawdowns
MST vs. MSTW - Drawdown Comparison
The maximum MST drawdown since its inception was -95.86%, which is greater than MSTW's maximum drawdown of -81.89%. Use the drawdown chart below to compare losses from any high point for MST and MSTW.
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Drawdown Indicators
| MST | MSTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.86% | -81.89% | -13.97% |
Max Drawdown (1Y)Largest decline over 1 year | -95.86% | — | — |
Current DrawdownCurrent decline from peak | -95.86% | -81.89% | -13.97% |
Average DrawdownAverage peak-to-trough decline | -63.38% | -55.57% | -7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 75.22% | — | — |
Volatility
MST vs. MSTW - Volatility Comparison
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Volatility by Period
| MST | MSTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.26% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 103.13% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 129.71% | 89.11% | +40.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 124.32% | 89.11% | +35.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 124.32% | 89.11% | +35.21% |
MST vs. MSTW - Expense Ratio Comparison
MST has a 1.31% expense ratio, which is higher than MSTW's 0.99% expense ratio.
Dividends
MST vs. MSTW - Dividend Comparison
MST's dividend yield for the trailing twelve months is around 1,051.54%, more than MSTW's 307.13% yield.
| Position | TTM | 2025 |
|---|---|---|
MST Defiance Leveraged Long Income MSTR ETF | 1,051.54% | 381.22% |
MSTW Roundhill MSTR WeeklyPay ETF | 307.13% | 106.94% |
Frequently Asked Questions
With a correlation of 0.99, MST and MSTW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, MSTW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSTW is cheaper with a 0.99% expense ratio, compared with 1.31% for MST.
MST has the higher dividend yield at 1051.54%, compared with 307.13% for MSTW.
They also come from different issuers: Defiance and Roundhill. Their fees differ too: 1.31% for MST and 0.99% for MSTW.
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