MSTW vs. MST

Last updated Apr 1, 2026

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

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

Performance

MSTW vs. MST - Performance Comparison

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

MSTW vs. MST - Yearly Performance Comparison

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

Returns By Period

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

MSTW

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

MST

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

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

MSTW vs. MST - Expense Ratio Comparison

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

MST

Defiance Leveraged Long Income MSTR ETF

MSTW

Roundhill MSTR WeeklyPay ETF

Return for Risk

MSTW vs. MST - Risk-Adjusted Trends Comparison

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

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

Correlation

The correlation between MSTW and MST 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

MSTW vs. MST - Dividend Comparison

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

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

Drawdowns

MSTW vs. MST - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

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