MST vs. QQQY

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Leveraged Long Income MSTR ETF (MST) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY).

MST and QQQY 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. QQQY is an actively managed fund by Defiance. It was launched on Sep 13, 2023.

Performance

MST vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Leveraged Long Income MSTR ETF (MST) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

MST vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025
MST Defiance Leveraged Long Income MSTR ETF	-39.41%	-87.72%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	-5.94%	22.66%

Returns By Period

In the year-to-date period, MST achieves a -39.41% return, which is significantly lower than QQQY's -5.94% return.

MST

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

QQQY

• 1D: 3.37%
• 1M: -4.31%
• YTD: -5.94%
• 6M: -4.55%
• 1Y: 14.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MST vs. QQQY - Expense Ratio Comparison

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

MST

Defiance Leveraged Long Income MSTR ETF

QQQY

Defiance Nasdaq 100 Enhanced Options Income ETF

Return for Risk

MST vs. QQQY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQY

QQQY Risk / Return Rank: 52
QQQY Sharpe Ratio Rank: 55
QQQY Sortino Ratio Rank: 45
QQQY Omega Ratio Rank: 52
QQQY Calmar Ratio Rank: 59
QQQY Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MST vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Leveraged Long Income MSTR ETF (MST) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). 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	QQQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.77	0.63	-1.39

Correlation

The correlation between MST and QQQY is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MST vs. QQQY - Dividend Comparison

MST's dividend yield for the trailing twelve months is around 788.18%, more than QQQY's 45.51% yield.

	TTM	2025	2024	2023
MST Defiance Leveraged Long Income MSTR ETF	788.18%	381.22%	0.00%	0.00%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	45.51%	45.34%	83.34%	20.64%

Drawdowns

MST vs. QQQY - Drawdown Comparison

The maximum MST drawdown since its inception was -94.99%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for MST and QQQY.

Drawdown Indicators

	MST	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-94.99%	-19.05%	-75.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.30%	—
Current Drawdown Current decline from peak	-93.54%	-8.15%	-85.39%
Average Drawdown Average peak-to-trough decline	-56.73%	-3.03%	-53.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.37%	—

Volatility

Volatility by Period

	MST	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	122.97%	16.42%	+106.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	122.97%	14.68%	+108.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.97%	14.68%	+108.29%