QSU vs. MSTX
QSU (Defiance Daily Target 2X Long QS ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both Leveraged Equities funds from Defiance. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. QSU charges 1.31%/yr vs 1.29%/yr for MSTX.
Performance
QSU vs. MSTX - Performance Comparison
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Returns By Period
In the year-to-date period, QSU achieves a -70.86% return, which is significantly higher than MSTX's -74.47% return.
QSU
- 1D
- -14.15%
- 1M
- -42.07%
- 6M
- -73.99%
- YTD
- -70.86%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTX
- 1D
- 15.24%
- 1M
- -43.34%
- 6M
- -75.97%
- YTD
- -74.47%
- 1Y
- -97.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QSU vs. MSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QSU Defiance Daily Target 2X Long QS ETF | -70.86% | -65.11% |
MSTX Defiance Daily Target 2X Long MSTR ETF | -74.47% | -77.77% |
Correlation
The correlation between QSU and MSTX 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 21, 2025 | 0.51 |
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Return for Risk
QSU vs. MSTX — Risk / Return Rank
QSU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MSTX
QSU vs. MSTX - 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 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.
| QSU | MSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.75 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.99 | — |
| Martin ratioReturn relative to average drawdown | — | -1.22 | — |
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Drawdowns
QSU vs. MSTX - Drawdown Comparison
The maximum QSU drawdown since its inception was -92.77%, smaller than the maximum MSTX drawdown of -99.46%. Use the drawdown chart below to compare losses from any high point for QSU and MSTX.
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Drawdown Indicators
| QSU | MSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.77% | -99.46% | +6.69% |
Max Drawdown (1Y)Largest decline over 1 year | — | -98.63% | — |
Current DrawdownCurrent decline from peak | -92.07% | -99.21% | +7.14% |
Average DrawdownAverage peak-to-trough decline | -75.36% | -71.03% | -4.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 80.08% | — |
Volatility
QSU vs. MSTX - Volatility Comparison
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Volatility by Period
| QSU | MSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 59.68% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 122.73% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 154.34% | 148.99% | +5.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 154.34% | 169.01% | -14.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 154.34% | 169.01% | -14.67% |
QSU vs. MSTX - Expense Ratio Comparison
QSU has a 1.31% expense ratio, which is higher than MSTX's 1.29% expense ratio.
Dividends
QSU vs. MSTX - Dividend Comparison
Neither QSU 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% |
QSU Defiance Daily Target 2X Long QS ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QSU and MSTX 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, MSTX is cheaper at 1.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSTX is cheaper with a 1.29% expense ratio, compared with 1.31% for QSU.
QSU and MSTX have nearly identical dividend yields, around 0.00%.
Their fees differ too: 1.31% for QSU and 1.29% for MSTX.
Find the right allocation for QSU and MSTX
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