QSU vs. MST
QSU (Defiance Daily Target 2X Long QS ETF) and MST (Defiance Leveraged Long Income MSTR ETF) are both exchange-traded funds - QSU is a Leveraged Equities fund actively managed by Defiance, while MST is a Derivative Income fund actively managed by Defiance. Both are actively managed. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 1.31% expense ratio.
Performance
QSU vs. MST - Performance Comparison
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Returns By Period
In the year-to-date period, QSU achieves a -85.70% return, which is significantly lower than MST's -72.69% return.
QSU
- 1D
- -25.63%
- 1M
- -56.89%
- 6M
- -86.22%
- YTD
- -85.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MST
- 1D
- -9.50%
- 1M
- -22.47%
- 6M
- -74.70%
- YTD
- -72.69%
- 1Y
- -96.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -93.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $634.10K | $942.06K | $1.53M | |
| $1.22M | $1.05M | $1.81M |
QSU vs. MST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QSU Defiance Daily Target 2X Long QS ETF | -85.70% | -65.11% |
MST Defiance Leveraged Long Income MSTR ETF | -72.69% | -72.82% |
Correlation
The correlation between QSU and MST is 0.52, 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 21, 2025 | 0.52 |
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Return for Risk
QSU vs. MST — Risk / Return Rank
QSU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MST
QSU vs. MST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long QS ETF (QSU) 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.
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.
| QSU | MST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.74 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.99 | — |
| Martin ratioReturn relative to average drawdown | — | -1.24 | — |
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Drawdowns
QSU vs. MST - Drawdown Comparison
The maximum QSU drawdown since its inception was -96.11%, roughly equal to the maximum MST drawdown of -97.68%. Use the drawdown chart below to compare losses from any high point for QSU and MST.
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Drawdown Indicators
| QSU | MST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.11% | -97.68% | +1.57% |
Max Drawdown (1Y)Largest decline over 1 year | — | -97.23% | — |
Current DrawdownCurrent decline from peak | -96.11% | -97.09% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -76.73% | -65.79% | -10.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 77.66% | — |
Volatility
QSU vs. MST - Volatility Comparison
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Volatility by Period
| QSU | MST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 47.37% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 109.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 154.55% | 134.50% | +20.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 154.55% | 127.07% | +27.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 154.55% | 127.07% | +27.48% |
QSU vs. MST - Expense Ratio Comparison
Both QSU and MST have an expense ratio of 1.31%.
Dividends
QSU vs. MST - Dividend Comparison
QSU has not paid dividends to shareholders, while MST's dividend yield for the trailing twelve months is around 1,103.59%.
| Position | TTM | 2025 |
|---|---|---|
MST Defiance Leveraged Long Income MSTR ETF | 1,103.59% | 381.22% |
QSU Defiance Daily Target 2X Long QS ETF | 0.00% | 0.00% |
Frequently Asked Questions
QSU and MST have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 1.31% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
QSU and MST have the same expense ratio: 1.31% per year.
MST has the higher dividend yield at 1103.59%, compared with 0.00% for QSU.
QSU is categorized as Leveraged Equities, while MST is Derivative Income.
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