PLT vs. MST

Last updated Jun 4, 2026

PLT (Defiance Leveraged Long + Income PLTR ETF) and MST (Defiance Leveraged Long Income MSTR ETF) are both Derivative Income funds from Defiance. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. PLT charges 1.51%/yr vs 1.31%/yr for MST.

Performance

PLT vs. MST - Performance Comparison

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

Returns By Period

In the year-to-date period, PLT achieves a -11.99% return, which is significantly higher than MST's -46.90% return.

PLT

• 1D: 0.00%
• 1M: 0.00%
• YTD: -11.99%
• 6M: -11.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MST

• 1D: -14.62%
• 1M: -51.85%
• YTD: -46.90%
• 6M: -62.90%
• 1Y: -92.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLT vs. MST - Yearly Performance Comparison

	2026 (YTD)	2025
PLT Defiance Leveraged Long + Income PLTR ETF	-11.99%	13.15%
MST Defiance Leveraged Long Income MSTR ETF	-46.90%	-80.30%

Correlation

The correlation between PLT and MST is 0.23, 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 Aug 20, 2025	0.23

Return for Risk

PLT vs. MST — Risk / Return Rank

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

MST

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PLT vs. MST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Leveraged Long + Income PLTR ETF (PLT) 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

	PLT	MST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	-0.74	+0.74

Drawdowns

PLT vs. MST - Drawdown Comparison

The maximum PLT drawdown since its inception was -43.74%, smaller than the maximum MST drawdown of -94.99%. Use the drawdown chart below to compare losses from any high point for PLT and MST.

Drawdown Indicators

	PLT	MST	Difference
Max Drawdown Largest peak-to-trough decline	-43.74%	-94.99%	+51.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-94.99%	—
Current Drawdown Current decline from peak	-38.06%	-94.34%	+56.28%
Average Drawdown Average peak-to-trough decline	-25.60%	-62.22%	+36.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	72.32%	—

Volatility

Volatility by Period

	PLT	MST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	35.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	101.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	60.67%	126.60%	-65.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.67%	123.87%	-63.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.67%	123.87%	-63.20%

PLT vs. MST - Expense Ratio Comparison

PLT has a 1.51% expense ratio, which is higher than MST's 1.31% expense ratio.

Dividends

PLT vs. MST - Dividend Comparison

PLT's dividend yield for the trailing twelve months is around 38.02%, less than MST's 891.75% yield.

Position	TTM	2025
MST Defiance Leveraged Long Income MSTR ETF	891.75%	381.22%
PLT Defiance Leveraged Long + Income PLTR ETF	38.02%	29.28%

Frequently Asked Questions

Can I hold both PLT and MST in my portfolio?

PLT and MST have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PLT or MST?

On fees, MST is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PLT or MST?

MST is cheaper with a 1.31% expense ratio, compared with 1.51% for PLT.

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

MST has the higher dividend yield at 891.75%, compared with 38.02% for PLT.

What is the main difference between PLT and MST?

Their fees differ too: 1.51% for PLT and 1.31% for MST.