RGTX vs. MSTX

Last updated Jun 4, 2026

RGTX (Defiance Daily Target 2X Long RGTI ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both Leveraged Equities funds from Defiance. Both are actively managed. Over the past year, RGTX returned -6.41% vs -95.49% for MSTX. At a 0.39 correlation, their price movements are largely independent. Both charge a 1.29% expense ratio.

Performance

RGTX vs. MSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long RGTI ETF (RGTX) 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, RGTX achieves a -33.35% return, which is significantly higher than MSTX's -54.94% return.

RGTX

• 1D: -20.63%
• 1M: 51.50%
• YTD: -33.35%
• 6M: -56.81%
• 1Y: -6.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTX

• 1D: -14.41%
• 1M: -56.02%
• YTD: -54.94%
• 6M: -72.02%
• 1Y: -95.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RGTX vs. MSTX - Yearly Performance Comparison

	2026 (YTD)	2025
RGTX Defiance Daily Target 2X Long RGTI ETF	-33.35%	153.12%
MSTX Defiance Daily Target 2X Long MSTR ETF	-54.94%	-86.71%

Correlation

The correlation between RGTX and MSTX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.39

Return for Risk

RGTX vs. MSTX — Risk / Return Rank

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

RGTX

RGTX Risk / Return Rank: 17
RGTX Sharpe Ratio Rank: 9
RGTX Sortino Ratio Rank: 32
RGTX Omega Ratio Rank: 27
RGTX Calmar Ratio Rank: 8
RGTX Martin Ratio Rank: 8

MSTX

MSTX Risk / Return Rank: 1
MSTX Sharpe Ratio Rank: 3
MSTX Sortino Ratio Rank: 1
MSTX Omega Ratio Rank: 1
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.

RGTX vs. MSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RGTI ETF (RGTX) 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.

	RGTX	MSTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	-0.68	+0.65
Sortino ratio: Return per unit of downside risk	1.69	-2.10	+3.79
Omega ratio: Gain probability vs. loss probability	1.18	0.78	+0.40
Calmar ratio: Return relative to maximum drawdown	-0.07	-0.99	+0.92
Martin ratio: Return relative to average drawdown	-0.09	-1.27	+1.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RGTX vs. MSTX - Sharpe Ratio Comparison

The current RGTX Sharpe Ratio is -0.03, which is higher than the MSTX Sharpe Ratio of -0.68. The chart below compares the historical Sharpe Ratios of RGTX 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.

Sharpe Ratios by Period

	RGTX	MSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.03	-0.68	+0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	-0.42	+0.67

Drawdowns

RGTX vs. MSTX - Drawdown Comparison

The maximum RGTX drawdown since its inception was -97.33%, roughly equal to the maximum MSTX drawdown of -98.66%. Use the drawdown chart below to compare losses from any high point for RGTX and MSTX.

Drawdown Indicators

	RGTX	MSTX	Difference
Max Drawdown Largest peak-to-trough decline	-97.33%	-98.66%	+1.33%
Max Drawdown (1Y) Largest decline over 1 year	-97.33%	-96.62%	-0.71%
Current Drawdown Current decline from peak	-93.10%	-98.61%	+5.51%
Average Drawdown Average peak-to-trough decline	-55.03%	-69.94%	+14.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	70.91%	75.26%	-4.35%

Volatility

RGTX vs. MSTX - Volatility Comparison

Defiance Daily Target 2X Long RGTI ETF (RGTX) has a higher volatility of 83.08% compared to Defiance Daily Target 2X Long MSTR ETF (MSTX) at 39.64%. This indicates that RGTX's price experiences larger fluctuations and is considered to be riskier than MSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RGTX	MSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	83.08%	39.64%	+43.44%
Volatility (6M) Calculated over the trailing 6-month period	139.30%	112.57%	+26.73%
Volatility (1Y) Calculated over the trailing 1-year period	215.89%	140.09%	+75.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	223.72%	167.46%	+56.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	223.72%	167.46%	+56.26%

RGTX vs. MSTX - Expense Ratio Comparison

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

Dividends

RGTX vs. MSTX - Dividend Comparison

RGTX's dividend yield for the trailing twelve months is around 0.82%, while MSTX has not paid dividends to shareholders.

Position	TTM	2025	2024
MSTX Defiance Daily Target 2X Long MSTR ETF	0.00%	0.00%	41.01%
RGTX Defiance Daily Target 2X Long RGTI ETF	0.82%	0.55%	0.00%

Frequently Asked Questions

Can I hold both RGTX and MSTX in my portfolio?

RGTX and MSTX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RGTX or MSTX?

RGTX has higher volatility (83.08%) compared to MSTX (39.64%). In terms of maximum drawdown, RGTX dropped -97.33% vs MSTX's -98.66%.

Which ETF is better, RGTX or MSTX?

On 1-year performance, RGTX leads with -6.41% vs -95.49% for MSTX. Both ETFs have the same 1.29% expense ratio. On volatility, MSTX has been the lower-risk option at 39.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RGTX or MSTX?

Over the 1-year period, RGTX has performed better with a -6.41% return vs -95.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RGTX or MSTX?

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

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

RGTX has the higher dividend yield at 0.82%, compared with 0.00% for MSTX.

Which has better risk-adjusted returns?

RGTX currently has the higher Sharpe Ratio (-0.03 vs -0.68), 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.