PLTZ vs. MSTX

Last updated Jul 17, 2026

PLTZ (Defiance Daily Target 2X Short PLTR ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both exchange-traded funds - PLTZ is a Inverse Equities fund actively managed by Defiance, while MSTX is a Leveraged Equities fund actively managed by Defiance. Both are actively managed. Over the past year, PLTZ returned -43.71% vs -98.30% for MSTX. At a correlation of -0.42, they often move in opposite directions. Both charge a 1.29% expense ratio.

Performance

PLTZ vs. MSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short PLTR ETF (PLTZ) 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, PLTZ achieves a 6.09% return, which is significantly higher than MSTX's -78.16% return.

PLTZ

• 1D: -1.05%
• 1M: -9.00%
• 6M: 7.43%
• YTD: 6.09%
• 1Y: -43.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTX

• 1D: -7.17%
• 1M: -46.60%
• 6M: -82.11%
• YTD: -78.16%
• 1Y: -98.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLTZ vs. MSTX - Yearly Performance Comparison

	2026 (YTD)	2025
PLTZ Defiance Daily Target 2X Short PLTR ETF	6.09%	-67.07%
MSTX Defiance Daily Target 2X Long MSTR ETF	-78.16%	-88.93%

Correlation

The correlation between PLTZ and MSTX is -0.41, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.41
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	-0.42

Return for Risk

PLTZ vs. MSTX — Risk / Return Rank

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

PLTZ

PLTZ Risk / Return Rank: 6
PLTZ Sharpe Ratio Rank: 6
PLTZ Sortino Ratio Rank: 8
PLTZ Omega Ratio Rank: 8
PLTZ Calmar Ratio Rank: 3
PLTZ Martin Ratio Rank: 4

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

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.

PLTZ vs. MSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short PLTR ETF (PLTZ) 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.

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.

	PLTZ	MSTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	-0.66	+0.24
Sortino ratio: Return per unit of downside risk	-0.07	-2.73	+2.66
Omega ratio: Gain probability vs. loss probability	0.99	0.72	+0.27
Calmar ratio: Return relative to maximum drawdown	-0.77	-1.00	+0.22
Martin ratio: Return relative to average drawdown	-1.16	-1.20	+0.03

PLTZ vs. MSTX - Sharpe Ratio Comparison

The current PLTZ Sharpe Ratio is -0.43, which is higher than the MSTX Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of PLTZ and MSTX, 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

PLTZ vs. MSTX - Drawdown Comparison

The maximum PLTZ drawdown since its inception was -72.51%, smaller than the maximum MSTX drawdown of -99.46%. Use the drawdown chart below to compare losses from any high point for PLTZ and MSTX.

Drawdown Indicators

	PLTZ	MSTX	Difference
Max Drawdown Largest peak-to-trough decline	-72.51%	-99.46%	+26.95%
Max Drawdown (1Y) Largest decline over 1 year	-56.64%	-98.60%	+41.96%
Current Drawdown Current decline from peak	-65.06%	-99.33%	+34.27%
Average Drawdown Average peak-to-trough decline	-55.80%	-71.56%	+15.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.61%	82.20%	-44.59%

Volatility

PLTZ vs. MSTX - Volatility Comparison

The current volatility for Defiance Daily Target 2X Short PLTR ETF (PLTZ) is 31.88%, while Defiance Daily Target 2X Long MSTR ETF (MSTX) has a volatility of 51.75%. This indicates that PLTZ experiences smaller price fluctuations and is considered to be less risky than MSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLTZ	MSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.88%	51.75%	-19.87%
Volatility (6M) Calculated over the trailing 6-month period	78.83%	121.25%	-42.42%
Volatility (1Y) Calculated over the trailing 1-year period	102.84%	148.20%	-45.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	102.10%	167.92%	-65.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	102.10%	167.92%	-65.82%

PLTZ vs. MSTX - Expense Ratio Comparison

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

Dividends

PLTZ vs. MSTX - Dividend Comparison

Neither PLTZ 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%
PLTZ Defiance Daily Target 2X Short PLTR ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PLTZ and MSTX in my portfolio?

PLTZ and MSTX have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTZ or MSTX?

MSTX has higher volatility (51.75%) compared to PLTZ (31.88%). In terms of maximum drawdown, PLTZ dropped -72.51% vs MSTX's -99.46%.

Which ETF is better, PLTZ or MSTX?

On 1-year performance, PLTZ leads with -43.71% vs -98.30% for MSTX. Both ETFs have the same 1.29% expense ratio. On volatility, PLTZ has been the lower-risk option at 31.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTZ or MSTX?

Over the 1-year period, PLTZ has performed better with a -43.71% return vs -98.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTZ or MSTX?

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

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

PLTZ and MSTX have nearly identical dividend yields, around 0.00%.

What is the main difference between PLTZ and MSTX?

PLTZ is categorized as Inverse Equities, while MSTX is Leveraged Equities.

Which has better risk-adjusted returns?

PLTZ currently has the higher Sharpe Ratio (-0.43 vs -0.66), 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.