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MSTX vs. BTC-USD
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Correlation

The correlation between MSTX and BTC-USD is 0.44, 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.


-0.50.00.51.0
Correlation: 0.4

Performance

MSTX vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long MSTR ETF (MSTX) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

0.00%200.00%400.00%600.00%800.00%NovemberDecember2025FebruaryMarchApril
125.70%
62.78%
MSTX
BTC-USD

Key characteristics

Daily Std Dev

MSTX:

206.87%

BTC-USD:

42.81%

Max Drawdown

MSTX:

-86.61%

BTC-USD:

-93.07%

Current Drawdown

MSTX:

-73.25%

BTC-USD:

-11.73%

Returns By Period

In the year-to-date period, MSTX achieves a -4.92% return, which is significantly lower than BTC-USD's 0.29% return.


MSTX

YTD

-4.92%

1M

-9.64%

6M

-7.48%

1Y

N/A

5Y*

N/A

10Y*

N/A

BTC-USD

YTD

0.29%

1M

7.12%

6M

37.47%

1Y

45.77%

5Y*

65.44%

10Y*

82.48%

*Annualized

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Risk-Adjusted Performance

MSTX vs. BTC-USD — Risk-Adjusted Performance Rank

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

MSTX

BTC-USD
The Risk-Adjusted Performance Rank of BTC-USD is 9191
Overall Rank
The Sharpe Ratio Rank of BTC-USD is 9393
Sharpe Ratio Rank
The Sortino Ratio Rank of BTC-USD is 8787
Sortino Ratio Rank
The Omega Ratio Rank of BTC-USD is 8888
Omega Ratio Rank
The Calmar Ratio Rank of BTC-USD is 9393
Calmar Ratio Rank
The Martin Ratio Rank of BTC-USD is 9292
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

MSTX vs. BTC-USD - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long MSTR ETF (MSTX) and Bitcoin (BTC-USD). 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.


The chart of Sortino ratio for MSTX, currently valued at 2.61, compared to the broader market-2.000.002.004.006.008.00
MSTX: 2.61
BTC-USD: 2.62
The chart of Omega ratio for MSTX, currently valued at 1.31, compared to the broader market0.501.001.502.002.50
MSTX: 1.31
BTC-USD: 1.27


Chart placeholderNot enough data

Drawdowns

MSTX vs. BTC-USD - Drawdown Comparison

The maximum MSTX drawdown since its inception was -86.61%, smaller than the maximum BTC-USD drawdown of -93.07%. Use the drawdown chart below to compare losses from any high point for MSTX and BTC-USD. For additional features, visit the drawdowns tool.


-80.00%-60.00%-40.00%-20.00%0.00%NovemberDecember2025FebruaryMarchApril
-73.25%
-11.73%
MSTX
BTC-USD

Volatility

MSTX vs. BTC-USD - Volatility Comparison

Defiance Daily Target 2X Long MSTR ETF (MSTX) has a higher volatility of 70.63% compared to Bitcoin (BTC-USD) at 16.27%. This indicates that MSTX's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%20.00%40.00%60.00%80.00%NovemberDecember2025FebruaryMarchApril
70.63%
16.27%
MSTX
BTC-USD