PLT vs. MSTX

Last updated Jun 4, 2026

PLT (Defiance Leveraged Long + Income PLTR ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both exchange-traded funds - PLT is a Derivative Income fund actively managed by Defiance, while MSTX is a Leveraged Equities fund actively managed by Defiance. Both are actively managed. At a 0.24 correlation, their price movements are largely independent. PLT charges 1.51%/yr vs 1.29%/yr for MSTX.

Performance

PLT vs. MSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Leveraged Long + Income PLTR ETF (PLT) and Defiance Daily Target 2X Long MSTR ETF (MSTX). 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 MSTX's -54.94% return.

PLT

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

MSTX

• 1D: -14.41%
• 1M: -56.02%
• YTD: -54.94%
• 6M: -72.02%
• 1Y: -95.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLT vs. MSTX - Yearly Performance Comparison

	2026 (YTD)	2025
PLT Defiance Leveraged Long + Income PLTR ETF	-11.99%	13.15%
MSTX Defiance Daily Target 2X Long MSTR ETF	-54.94%	-84.65%

Correlation

The correlation between PLT and MSTX is 0.24, 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	0.24

Return for Risk

PLT vs. MSTX — Risk / Return Rank

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

MSTX

MSTX Risk / Return Rank: 1
MSTX Sharpe Ratio Rank: 3
MSTX Sortino Ratio Rank: 1
MSTX Omega Ratio Rank: 1
MSTX Calmar Ratio Rank: 0
MSTX 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. MSTX - Risk-Adjusted Trends Comparison

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

Sharpe Ratios by Period

	PLT	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	-0.01	-0.42	+0.41

Drawdowns

PLT vs. MSTX - Drawdown Comparison

The maximum PLT drawdown since its inception was -43.74%, smaller than the maximum MSTX drawdown of -98.66%. Use the drawdown chart below to compare losses from any high point for PLT and MSTX.

Drawdown Indicators

	PLT	MSTX	Difference
Max Drawdown Largest peak-to-trough decline	-43.74%	-98.66%	+54.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-96.62%	—
Current Drawdown Current decline from peak	-38.06%	-98.61%	+60.55%
Average Drawdown Average peak-to-trough decline	-25.60%	-69.94%	+44.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	75.26%	—

Volatility

Volatility by Period

	PLT	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	60.67%	140.09%	-79.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.67%	167.46%	-106.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.67%	167.46%	-106.79%

PLT vs. MSTX - Expense Ratio Comparison

PLT has a 1.51% expense ratio, which is higher than MSTX's 1.29% expense ratio.

Dividends

PLT vs. MSTX - Dividend Comparison

PLT's dividend yield for the trailing twelve months is around 38.02%, while MSTX has not paid dividends to shareholders.

Position	TTM	2025	2024
MSTX Defiance Daily Target 2X Long MSTR ETF	0.00%	0.00%	41.01%
PLT Defiance Leveraged Long + Income PLTR ETF	38.02%	29.28%	0.00%

Frequently Asked Questions

Can I hold both PLT and MSTX in my portfolio?

PLT and MSTX have a correlation of 0.24, 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 MSTX?

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.

Which ETF is cheaper, PLT or MSTX?

MSTX is cheaper with a 1.29% expense ratio, compared with 1.51% for PLT.

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

PLT has the higher dividend yield at 38.02%, compared with 0.00% for MSTX.

What is the main difference between PLT and MSTX?

PLT is categorized as Derivative Income, while MSTX is Leveraged Equities. Their fees differ too: 1.51% for PLT and 1.29% for MSTX.