QBTZ vs. MSDD
QBTZ (Defiance Daily Target 2X Short QBTS ETF) and MSDD (GraniteShares 2x Short MSTR Daily ETF) are both Inverse Equities funds. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. QBTZ charges 1.29%/yr vs 1.50%/yr for MSDD.
Performance
QBTZ vs. MSDD - Performance Comparison
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Returns By Period
In the year-to-date period, QBTZ achieves a -82.79% return, which is significantly lower than MSDD's -48.72% return.
QBTZ
- 1D
- 10.29%
- 1M
- 4.01%
- 6M
- -78.88%
- YTD
- -82.79%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSDD
- 1D
- 0.00%
- 1M
- -0.02%
- 6M
- -43.28%
- YTD
- -48.72%
- 1Y
- 151.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QBTZ vs. MSDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBTZ Defiance Daily Target 2X Short QBTS ETF | -82.79% | -47.53% |
MSDD GraniteShares 2x Short MSTR Daily ETF | -48.72% | 307.63% |
Correlation
The correlation between QBTZ and MSDD is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 7, 2025 | 0.51 |
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Return for Risk
QBTZ vs. MSDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short QBTS ETF (QBTZ) and GraniteShares 2x Short MSTR Daily ETF (MSDD). 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.
| QBTZ | MSDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.92 | — |
| Martin ratioReturn relative to average drawdown | — | 1.81 | — |
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Drawdowns
QBTZ vs. MSDD - Drawdown Comparison
The maximum QBTZ drawdown since its inception was -96.03%, which is greater than MSDD's maximum drawdown of -84.91%. Use the drawdown chart below to compare losses from any high point for QBTZ and MSDD.
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Drawdown Indicators
| QBTZ | MSDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.03% | -84.91% | -11.12% |
Max Drawdown (1Y)Largest decline over 1 year | — | -84.91% | — |
Current DrawdownCurrent decline from peak | -94.02% | -68.63% | -25.39% |
Average DrawdownAverage peak-to-trough decline | -60.50% | -31.40% | -29.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 43.10% | — |
Volatility
QBTZ vs. MSDD - Volatility Comparison
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Volatility by Period
| QBTZ | MSDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 32.11% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 124.37% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 229.09% | 140.94% | +88.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 229.09% | 138.59% | +90.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 229.09% | 138.59% | +90.50% |
QBTZ vs. MSDD - Expense Ratio Comparison
QBTZ has a 1.29% expense ratio, which is lower than MSDD's 1.50% expense ratio.
Dividends
QBTZ vs. MSDD - Dividend Comparison
Neither QBTZ nor MSDD has paid dividends to shareholders.
Frequently Asked Questions
QBTZ and MSDD have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QBTZ is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QBTZ is cheaper with a 1.29% expense ratio, compared with 1.50% for MSDD.
QBTZ and MSDD have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance ETFs and GraniteShares. Their fees differ too: 1.29% for QBTZ and 1.50% for MSDD.
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