OKLL vs. MSTX
OKLL (Defiance Daily Target 2x Long OKLO ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both Leveraged Equities funds from Defiance. Both are actively managed. At a 0.45 correlation, their price movements are largely independent. OKLL charges 1.31%/yr vs 1.29%/yr for MSTX.
Performance
OKLL vs. MSTX - Performance Comparison
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Returns By Period
In the year-to-date period, OKLL achieves a -51.28% return, which is significantly higher than MSTX's -54.94% return.
OKLL
- 1D
- -22.34%
- 1M
- -20.06%
- YTD
- -51.28%
- 6M
- -75.86%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTX
- 1D
- -14.41%
- 1M
- -56.02%
- YTD
- -54.94%
- 6M
- -72.02%
- 1Y
- -95.49%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OKLL vs. MSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OKLL Defiance Daily Target 2x Long OKLO ETF | -51.28% | -30.34% |
MSTX Defiance Daily Target 2X Long MSTR ETF | -54.94% | -89.13% |
Correlation
The correlation between OKLL and MSTX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025 | 0.45 |
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Return for Risk
OKLL vs. MSTX — Risk / Return Rank
OKLL
MSTX
OKLL vs. MSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2x Long OKLO ETF (OKLL) and Defiance Daily Target 2X Long MSTR ETF (MSTX). 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.
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Sharpe Ratios by Period
| OKLL | MSTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.68 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | -0.42 | +0.08 |
Drawdowns
OKLL vs. MSTX - Drawdown Comparison
The maximum OKLL drawdown since its inception was -96.29%, roughly equal to the maximum MSTX drawdown of -98.66%. Use the drawdown chart below to compare losses from any high point for OKLL and MSTX.
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Drawdown Indicators
| OKLL | MSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.29% | -98.66% | +2.37% |
Max Drawdown (1Y)Largest decline over 1 year | — | -96.62% | — |
Current DrawdownCurrent decline from peak | -94.11% | -98.61% | +4.50% |
Average DrawdownAverage peak-to-trough decline | -60.85% | -69.94% | +9.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 75.26% | — |
Volatility
OKLL vs. MSTX - Volatility Comparison
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Volatility by Period
| OKLL | MSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 39.64% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 112.57% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 205.33% | 140.09% | +65.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 205.33% | 167.46% | +37.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 205.33% | 167.46% | +37.87% |
OKLL vs. MSTX - Expense Ratio Comparison
OKLL has a 1.31% expense ratio, which is higher than MSTX's 1.29% expense ratio.
Dividends
OKLL vs. MSTX - Dividend Comparison
Neither OKLL nor MSTX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MSTX Defiance Daily Target 2X Long MSTR ETF | 0.00% | 0.00% | 41.01% |
OKLL Defiance Daily Target 2x Long OKLO ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OKLL and MSTX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MSTX is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSTX is cheaper with a 1.29% expense ratio, compared with 1.31% for OKLL.
OKLL and MSTX have nearly identical dividend yields, around 0.00%.
Their fees differ too: 1.31% for OKLL and 1.29% for MSTX.
Find the right allocation for OKLL and MSTX
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