MSTX vs. RGTX

Last updated Aug 2, 2026

MSTX (Defiance Daily Target 2X Long MSTR ETF) and RGTX (Defiance Daily Target 2X Long RGTI ETF) are both Leveraged Equities funds from Defiance. Both are actively managed. Over the past year, MSTX returned -97.40% vs -75.10% for RGTX. Their 0.42 correlation means their historical movements had little consistent relationship. Both charge a 1.29% expense ratio.

Performance

MSTX vs. RGTX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with MSTX having a -79.12% return and RGTX slightly lower at -79.79%.

MSTX

• 1D: -8.53%
• 1M: -18.21%
• 6M: -76.83%
• YTD: -79.12%
• 1Y: -97.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -77.59%

RGTX

• 1D: 0.82%
• 1M: -37.77%
• 6M: -67.18%
• YTD: -79.79%
• 1Y: -75.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -37.85%

*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)
MSTX Defiance Daily Target 2X Long MSTR ETF	$57.41M	$66.45M	$80.88M
RGTX Defiance Daily Target 2X Long RGTI ETF	$9.02M	$9.29M	$47.02M

MSTX vs. RGTX - Yearly Performance Comparison

	2026 (YTD)	2025
MSTX Defiance Daily Target 2X Long MSTR ETF	-79.12%	-85.08%
RGTX Defiance Daily Target 2X Long RGTI ETF	-79.79%	162.83%

Correlation

The correlation between MSTX and RGTX is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	0.43

Return for Risk

MSTX vs. RGTX — Risk / Return Rank

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

MSTX

MSTX Risk / Return Rank: 1
MSTX Sharpe Ratio Rank: 4
MSTX Sortino Ratio Rank: 0
MSTX Omega Ratio Rank: 0
MSTX Calmar Ratio Rank: 0
MSTX Martin Ratio Rank: 3

RGTX

RGTX Risk / Return Rank: 9
RGTX Sharpe Ratio Rank: 6
RGTX Sortino Ratio Rank: 17
RGTX Omega Ratio Rank: 16
RGTX Calmar Ratio Rank: 3
RGTX Martin Ratio Rank: 5

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.

MSTX vs. RGTX - Risk-Adjusted Trends Comparison

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

	MSTX	RGTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	-0.36	-0.29
Sortino ratio: Return per unit of downside risk	-2.49	0.53	-3.02
Omega ratio: Gain probability vs. loss probability	0.75	1.06	-0.31
Calmar ratio: Return relative to maximum drawdown	-1.00	-0.78	-0.22
Martin ratio: Return relative to average drawdown	-1.21	-0.95	-0.26

MSTX vs. RGTX - Sharpe Ratio Comparison

The current MSTX Sharpe Ratio is -0.65, which is lower than the RGTX Sharpe Ratio of -0.36. The chart below compares the historical Sharpe Ratios of MSTX and RGTX, 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

MSTX vs. RGTX - Drawdown Comparison

The maximum MSTX drawdown since its inception was -99.46%, roughly equal to the maximum RGTX drawdown of -98.34%. Use the drawdown chart below to compare losses from any high point for MSTX and RGTX.

Drawdown Indicators

	MSTX	RGTX	Difference
Max Drawdown Largest peak-to-trough decline	-99.46%	-98.34%	-1.12%
Max Drawdown (1Y) Largest decline over 1 year	-98.15%	-98.34%	+0.19%
Current Drawdown Current decline from peak	-99.36%	-97.91%	-1.45%
Average Drawdown Average peak-to-trough decline	-72.18%	-59.82%	-12.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	81.05%	80.31%	+0.74%

Volatility

MSTX vs. RGTX - Volatility Comparison

The current volatility for Defiance Daily Target 2X Long MSTR ETF (MSTX) is 36.23%, while Defiance Daily Target 2X Long RGTI ETF (RGTX) has a volatility of 53.99%. This indicates that MSTX experiences smaller price fluctuations and is considered to be less risky than RGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTX	RGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.23%	53.99%	-17.76%
Volatility (6M) Calculated over the trailing 6-month period	120.60%	142.88%	-22.28%
Volatility (1Y) Calculated over the trailing 1-year period	149.90%	212.51%	-62.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	167.17%	219.94%	-52.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	167.17%	219.94%	-52.77%

MSTX vs. RGTX - Expense Ratio Comparison

Both MSTX and RGTX have an expense ratio of 1.29%.

Dividends

MSTX vs. RGTX - Dividend Comparison

MSTX has not paid dividends to shareholders, while RGTX's dividend yield for the trailing twelve months is around 2.70%.

Position	TTM	2025	2024
MSTX Defiance Daily Target 2X Long MSTR ETF	0.00%	0.00%	41.01%
RGTX Defiance Daily Target 2X Long RGTI ETF	2.70%	0.55%	0.00%

Frequently Asked Questions

Can I hold both MSTX and RGTX in my portfolio?

MSTX and RGTX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTX or RGTX?

RGTX has higher volatility (53.99%) compared to MSTX (36.23%). In terms of maximum drawdown, MSTX dropped -99.46% vs RGTX's -98.34%.

Which ETF is better, MSTX or RGTX?

On 1-year performance, RGTX leads with -75.10% vs -97.40% for MSTX. Both ETFs have the same 1.29% expense ratio. On volatility, MSTX has been the lower-risk option at 36.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTX or RGTX?

Over the 1-year period, RGTX has performed better with a -75.10% return vs -97.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTX or RGTX?

MSTX and RGTX have the same expense ratio: 1.29% per year.

Which ETF pays a higher dividend yield, MSTX or RGTX?

RGTX has the higher dividend yield at 2.70%, compared with 0.00% for MSTX.

Which has better risk-adjusted returns?

RGTX currently has the higher Sharpe Ratio (-0.36 vs -0.65), 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.