RKTL vs. MSTX

Last updated Jun 5, 2026

RKTL (Defiance Daily Target 2X Long RKT ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are both Leveraged Equities funds from Defiance. RKTL is passively managed, while MSTX is actively managed. At a 0.33 correlation, their price movements are largely independent. RKTL charges 1.31%/yr vs 1.29%/yr for MSTX.

Performance

RKTL vs. MSTX - Performance Comparison

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

Returns By Period

RKTL

• 1D: 4.20%
• 1M: -17.90%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTX

• 1D: 4.32%
• 1M: -55.48%
• YTD: -52.99%
• 6M: -70.03%
• 1Y: -95.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RKTL vs. MSTX - Yearly Performance Comparison

	2026 (YTD)
RKTL Defiance Daily Target 2X Long RKT ETF	-74.30%
MSTX Defiance Daily Target 2X Long MSTR ETF	-62.68%

Correlation

The correlation between RKTL and MSTX is 0.33, 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 14, 2026	0.33

Return for Risk

RKTL vs. MSTX — Risk / Return Rank

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

MSTX

MSTX Risk / Return Rank: 2
MSTX Sharpe Ratio Rank: 4
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.

RKTL vs. MSTX - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	RKTL	MSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.77	-0.41	-0.35

Drawdowns

RKTL vs. MSTX - Drawdown Comparison

The maximum RKTL drawdown since its inception was -77.06%, smaller than the maximum MSTX drawdown of -98.66%. Use the drawdown chart below to compare losses from any high point for RKTL and MSTX.

Drawdown Indicators

	RKTL	MSTX	Difference
Max Drawdown Largest peak-to-trough decline	-77.06%	-98.66%	+21.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-96.62%	—
Current Drawdown Current decline from peak	-75.54%	-98.55%	+23.01%
Average Drawdown Average peak-to-trough decline	-55.71%	-70.01%	+14.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	75.50%	—

Volatility

Volatility by Period

	RKTL	MSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	39.88%	—
Volatility (6M) Calculated over the trailing 6-month period	—	112.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	126.92%	139.91%	-12.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	126.92%	167.30%	-40.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	126.92%	167.30%	-40.38%

RKTL vs. MSTX - Expense Ratio Comparison

RKTL has a 1.31% expense ratio, which is higher than MSTX's 1.29% expense ratio.

Dividends

RKTL vs. MSTX - Dividend Comparison

Neither RKTL 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%
RKTL Defiance Daily Target 2X Long RKT ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RKTL and MSTX in my portfolio?

RKTL and MSTX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RKTL or MSTX?

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.

Which ETF is cheaper, RKTL or MSTX?

MSTX is cheaper with a 1.29% expense ratio, compared with 1.31% for RKTL.

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

RKTL and MSTX have nearly identical dividend yields, around 0.00%.

What is the main difference between RKTL and MSTX?

Their fees differ too: 1.31% for RKTL and 1.29% for MSTX.