RKNG vs. MST

Last updated Jul 11, 2026

RKNG (Defiance Retail Kings ETF) and MST (Defiance Leveraged Long Income MSTR ETF) are both exchange-traded funds - RKNG is a Consumer Discretionary Equities fund actively managed by Defiance, while MST is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. RKNG charges 0.79%/yr vs 1.31%/yr for MST.

Performance

RKNG vs. MST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Retail Kings ETF (RKNG) and Defiance Leveraged Long Income MSTR ETF (MST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RKNG

• 1D: -2.33%
• 1M: -8.71%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MST

• 1D: 1.38%
• 1M: -44.78%
• 6M: -74.22%
• YTD: -72.77%
• 1Y: -96.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RKNG vs. MST - Yearly Performance Comparison

	2026 (YTD)
RKNG Defiance Retail Kings ETF	-0.03%
MST Defiance Leveraged Long Income MSTR ETF	-75.50%

Correlation

The correlation between RKNG and MST is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.48

Return for Risk

RKNG vs. MST — Risk / Return Rank

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

RKNG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MST

MST Risk / Return Rank: 1
MST Sharpe Ratio Rank: 3
MST Sortino Ratio Rank: 0
MST Omega Ratio Rank: 0
MST Calmar Ratio Rank: 0
MST 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.

RKNG vs. MST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Retail Kings ETF (RKNG) 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.

	RKNG	MST	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.72	—
Sortino ratio: Return per unit of downside risk	—	-2.55	—
Omega ratio: Gain probability vs. loss probability	—	0.73	—
Calmar ratio: Return relative to maximum drawdown	—	-0.99	—
Martin ratio: Return relative to average drawdown	—	-1.23	—

Drawdowns

RKNG vs. MST - Drawdown Comparison

The maximum RKNG drawdown since its inception was -34.21%, smaller than the maximum MST drawdown of -97.68%. Use the drawdown chart below to compare losses from any high point for RKNG and MST.

Drawdown Indicators

	RKNG	MST	Difference
Max Drawdown Largest peak-to-trough decline	-34.21%	-97.68%	+63.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-97.68%	—
Current Drawdown Current decline from peak	-17.35%	-97.10%	+79.75%
Average Drawdown Average peak-to-trough decline	-12.29%	-64.85%	+52.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	78.38%	—

Volatility

Volatility by Period

	RKNG	MST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	49.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	110.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	60.90%	134.18%	-73.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.90%	127.85%	-66.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.90%	127.85%	-66.95%

RKNG vs. MST - Expense Ratio Comparison

RKNG has a 0.79% expense ratio, which is lower than MST's 1.31% expense ratio.

Dividends

RKNG vs. MST - Dividend Comparison

RKNG has not paid dividends to shareholders, while MST's dividend yield for the trailing twelve months is around 1,279.46%.

Position	TTM	2025
MST Defiance Leveraged Long Income MSTR ETF	1,279.46%	381.22%
RKNG Defiance Retail Kings ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RKNG and MST in my portfolio?

RKNG and MST have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RKNG or MST?

On fees, RKNG is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RKNG or MST?

RKNG is cheaper with a 0.79% expense ratio, compared with 1.31% for MST.

Which ETF pays a higher dividend yield, RKNG or MST?

MST has the higher dividend yield at 1279.46%, compared with 0.00% for RKNG.

What is the main difference between RKNG and MST?

RKNG is categorized as Consumer Discretionary Equities, while MST is Derivative Income. Their fees differ too: 0.79% for RKNG and 1.31% for MST.