MST vs. SOXY

Last updated Aug 2, 2026

MST (Defiance Leveraged Long Income MSTR ETF) and SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, MST returned -95.52% vs 93.60% for SOXY. Their 0.36 correlation means their historical movements had little consistent relationship. MST charges 1.31%/yr vs 1.06%/yr for SOXY.

Performance

MST vs. SOXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Leveraged Long Income MSTR ETF (MST) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MST achieves a -72.61% return, which is significantly lower than SOXY's 58.34% return.

MST

• 1D: -5.83%
• 1M: -10.00%
• 6M: -70.53%
• YTD: -72.61%
• 1Y: -95.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -93.38%

SOXY

• 1D: 0.60%
• 1M: -12.01%
• 6M: 42.45%
• YTD: 58.34%
• 1Y: 93.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 58.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MST Defiance Leveraged Long Income MSTR ETF	$610.12K	$656.19K	$1.42M
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	$2.13M	$2.44M	$2.09M

MST vs. SOXY - Yearly Performance Comparison

	2026 (YTD)	2025
MST Defiance Leveraged Long Income MSTR ETF	-72.61%	-87.60%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	58.34%	51.53%

Correlation

The correlation between MST and SOXY is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (All Time) Calculated using the full available price history since May 2, 2025	0.36

Return for Risk

MST vs. SOXY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MST

MST Risk / Return Rank: 1
MST Sharpe Ratio Rank: 3
MST Sortino Ratio Rank: 0
MST Omega Ratio Rank: 0
MST Calmar Ratio Rank: 0
MST Martin Ratio Rank: 3

SOXY

SOXY Risk / Return Rank: 87
SOXY Sharpe Ratio Rank: 91
SOXY Sortino Ratio Rank: 83
SOXY Omega Ratio Rank: 85
SOXY Calmar Ratio Rank: 85
SOXY Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MST vs. SOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Leveraged Long Income MSTR ETF (MST) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). 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	SOXY	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	2.30	-3.01
Sortino ratio: Return per unit of downside risk	-2.41	2.73	-5.14
Omega ratio: Gain probability vs. loss probability	0.75	1.37	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.99	3.21	-4.20
Martin ratio: Return relative to average drawdown	-1.24	14.50	-15.74

MST vs. SOXY - Sharpe Ratio Comparison

The current MST Sharpe Ratio is -0.71, which is lower than the SOXY Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of MST and SOXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MST vs. SOXY - Drawdown Comparison

The maximum MST drawdown since its inception was -97.68%, which is greater than SOXY's maximum drawdown of -30.22%. Use the drawdown chart below to compare losses from any high point for MST and SOXY.

Drawdown Indicators

	MST	SOXY	Difference
Max Drawdown Largest peak-to-trough decline	-97.68%	-30.22%	-67.46%
Max Drawdown (1Y) Largest decline over 1 year	-96.92%	-28.56%	-68.36%
Current Drawdown Current decline from peak	-97.08%	-21.71%	-75.37%
Average Drawdown Average peak-to-trough decline	-66.39%	-5.49%	-60.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	78.12%	6.31%	+71.81%

Volatility

MST vs. SOXY - Volatility Comparison

Defiance Leveraged Long Income MSTR ETF (MST) has a higher volatility of 30.28% compared to YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) at 18.62%. This indicates that MST's price experiences larger fluctuations and is considered to be riskier than SOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MST	SOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.28%	18.62%	+11.66%
Volatility (6M) Calculated over the trailing 6-month period	108.38%	35.73%	+72.65%
Volatility (1Y) Calculated over the trailing 1-year period	135.47%	39.94%	+95.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	126.83%	39.31%	+87.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	126.83%	39.31%	+87.52%

MST vs. SOXY - Expense Ratio Comparison

MST has a 1.31% expense ratio, which is higher than SOXY's 1.06% expense ratio.

Dividends

MST vs. SOXY - Dividend Comparison

MST's dividend yield for the trailing twelve months is around 1,038.42%, more than SOXY's 9.41% yield.

Position	TTM	2025
MST Defiance Leveraged Long Income MSTR ETF	1,038.42%	381.22%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	9.41%	11.47%

Frequently Asked Questions

Can I hold both MST and SOXY in my portfolio?

MST and SOXY have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MST or SOXY?

MST has higher volatility (30.28%) compared to SOXY (18.62%). In terms of maximum drawdown, MST dropped -97.68% vs SOXY's -30.22%.

Which ETF is better, MST or SOXY?

On 1-year performance, SOXY leads with 93.60% vs -95.52% for MST. On fees, SOXY is cheaper at 1.06% per year. On volatility, SOXY has been the lower-risk option at 18.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MST or SOXY?

Over the 1-year period, SOXY has performed better with a 93.60% return vs -95.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MST or SOXY?

SOXY is cheaper with a 1.06% expense ratio, compared with 1.31% for MST.

Which ETF pays a higher dividend yield, MST or SOXY?

MST has the higher dividend yield at 1038.42%, compared with 9.41% for SOXY.

What is the main difference between MST and SOXY?

They also come from different issuers: Defiance and YieldMax. Their fees differ too: 1.31% for MST and 1.06% for SOXY.

Which has better risk-adjusted returns?

SOXY currently has the higher Sharpe Ratio (2.30 vs -0.71), 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.