QQQT vs. MSTX

Last updated Apr 3, 2026

Compare and contrast key facts about Defiance Nasdaq 100 Income Target ETF (QQQT) and Defiance Daily Target 2X Long MSTR ETF (MSTX).

QQQT and MSTX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQT is an actively managed fund by Defiance. It was launched on Jun 20, 2024. MSTX is an actively managed fund by Defiance. It was launched on Aug 14, 2024.

Performance

QQQT vs. MSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Income Target ETF (QQQT) and Defiance Daily Target 2X Long MSTR ETF (MSTX). The values are adjusted to include any dividend payments, if applicable.

QQQT vs. MSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQT Defiance Nasdaq 100 Income Target ETF	-4.72%	14.04%	6.65%
MSTX Defiance Daily Target 2X Long MSTR ETF	-53.48%	-89.06%	137.37%

Returns By Period

In the year-to-date period, QQQT achieves a -4.72% return, which is significantly higher than MSTX's -53.48% return.

QQQT

• 1D: 0.18%
• 1M: -2.31%
• YTD: -4.72%
• 6M: -4.68%
• 1Y: 17.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTX

• 1D: -4.99%
• 1M: -23.13%
• YTD: -53.48%
• 6M: -92.95%
• 1Y: -94.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQT vs. MSTX - Expense Ratio Comparison

QQQT has a 1.05% expense ratio, which is lower than MSTX's 1.29% expense ratio.

MSTX

Defiance Daily Target 2X Long MSTR ETF

QQQT

Defiance Nasdaq 100 Income Target ETF

Return for Risk

QQQT vs. MSTX — Risk / Return Rank

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

QQQT

QQQT Risk / Return Rank: 43
QQQT Sharpe Ratio Rank: 39
QQQT Sortino Ratio Rank: 44
QQQT Omega Ratio Rank: 47
QQQT Calmar Ratio Rank: 46
QQQT Martin Ratio Rank: 41

MSTX

MSTX Risk / Return Rank: 1
MSTX Sharpe Ratio Rank: 3
MSTX Sortino Ratio Rank: 0
MSTX Omega Ratio Rank: 1
MSTX Calmar Ratio Rank: 0
MSTX Martin Ratio Rank: 1

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.

QQQT vs. MSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Income Target ETF (QQQT) 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.

	QQQT	MSTX	Difference
Sharpe ratio Return per unit of total volatility	0.80	-0.64	+1.44
Sortino ratio Return per unit of downside risk	1.31	-1.72	+3.03
Omega ratio Gain probability vs. loss probability	1.20	0.81	+0.39
Calmar ratio Return relative to maximum drawdown	1.41	-0.97	+2.38
Martin ratio Return relative to average drawdown	4.59	-1.43	+6.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQT vs. MSTX - Sharpe Ratio Comparison

The current QQQT Sharpe Ratio is 0.80, which is higher than the MSTX Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of QQQT and MSTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QQQT	MSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	-0.64	+1.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	-0.43	+0.79

Correlation

The correlation between QQQT and MSTX is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QQQT vs. MSTX - Dividend Comparison

QQQT's dividend yield for the trailing twelve months is around 22.97%, while MSTX has not paid dividends to shareholders.

	TTM	2025	2024
QQQT Defiance Nasdaq 100 Income Target ETF	22.97%	21.27%	10.35%
MSTX Defiance Daily Target 2X Long MSTR ETF	0.00%	0.00%	41.01%

Drawdowns

QQQT vs. MSTX - Drawdown Comparison

The maximum QQQT drawdown since its inception was -22.50%, smaller than the maximum MSTX drawdown of -98.66%. Use the drawdown chart below to compare losses from any high point for QQQT and MSTX.

Drawdown Indicators

	QQQT	MSTX	Difference
Max Drawdown Largest peak-to-trough decline	-22.50%	-98.66%	+76.16%
Max Drawdown (1Y) Largest decline over 1 year	-12.73%	-96.62%	+83.89%
Current Drawdown Current decline from peak	-8.61%	-98.57%	+89.96%
Average Drawdown Average peak-to-trough decline	-4.27%	-67.10%	+62.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	65.42%	-61.52%

Volatility

QQQT vs. MSTX - Volatility Comparison

The current volatility for Defiance Nasdaq 100 Income Target ETF (QQQT) is 6.18%, while Defiance Daily Target 2X Long MSTR ETF (MSTX) has a volatility of 30.53%. This indicates that QQQT 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

	QQQT	MSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	30.53%	-24.35%
Volatility (6M) Calculated over the trailing 6-month period	11.87%	110.59%	-98.72%
Volatility (1Y) Calculated over the trailing 1-year period	21.49%	146.84%	-125.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.60%	169.38%	-148.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.60%	169.38%	-148.78%