VSTL vs. DUOG

Last updated Aug 1, 2026

VSTL (Defiance Daily Target 2X Long VST ETF) and DUOG (Leverage Shares 2X Long DUOL Daily ETF) are both Leveraged Equities funds. Both are actively managed. Their -0.04 correlation means they have often moved in opposite directions in the past. VSTL charges 1.29%/yr vs 0.75%/yr for DUOG.

Performance

VSTL vs. DUOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long VST ETF (VSTL) and Leverage Shares 2X Long DUOL Daily ETF (DUOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSTL achieves a -35.33% return, which is significantly higher than DUOG's -56.51% return.

VSTL

• 1D: -0.06%
• 1M: -6.33%
• 6M: -28.91%
• YTD: -35.33%
• 1Y: -66.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -58.65%

DUOG

• 1D: 1.72%
• 1M: 10.01%
• 6M: -22.18%
• YTD: -56.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DUOG Leverage Shares 2X Long DUOL Daily ETF	$325.17K	$344.98K	$852.41K
VSTL Defiance Daily Target 2X Long VST ETF	$651.64K	$708.80K	$1.90M

VSTL vs. DUOG - Yearly Performance Comparison

	2026 (YTD)	2025
VSTL Defiance Daily Target 2X Long VST ETF	-35.33%	-7.05%
DUOG Leverage Shares 2X Long DUOL Daily ETF	-56.51%	-25.09%

Correlation

The correlation between VSTL and DUOG is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	-0.04

Return for Risk

VSTL vs. DUOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VSTL

VSTL Risk / Return Rank: 3
VSTL Sharpe Ratio Rank: 4
VSTL Sortino Ratio Rank: 4
VSTL Omega Ratio Rank: 4
VSTL Calmar Ratio Rank: 1
VSTL Martin Ratio Rank: 1

DUOG

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VSTL vs. DUOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long VST ETF (VSTL) and Leverage Shares 2X Long DUOL Daily ETF (DUOG). 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.

	VSTL	DUOG	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	—	—
Sortino ratio: Return per unit of downside risk	-0.87	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.94	—	—
Martin ratio: Return relative to average drawdown	-1.36	—	—

Drawdowns

VSTL vs. DUOG - Drawdown Comparison

The maximum VSTL drawdown since its inception was -71.42%, smaller than the maximum DUOG drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for VSTL and DUOG.

Drawdown Indicators

	VSTL	DUOG	Difference
Max Drawdown Largest peak-to-trough decline	-71.42%	-83.13%	+11.71%
Max Drawdown (1Y) Largest decline over 1 year	-71.42%	—	—
Current Drawdown Current decline from peak	-68.28%	-67.42%	-0.86%
Average Drawdown Average peak-to-trough decline	-43.67%	-64.98%	+21.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.96%	—	—

Volatility

Volatility by Period

	VSTL	DUOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	68.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	97.01%	117.48%	-20.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.03%	117.48%	-20.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.03%	117.48%	-20.45%

VSTL vs. DUOG - Expense Ratio Comparison

VSTL has a 1.29% expense ratio, which is higher than DUOG's 0.75% expense ratio.

Dividends

VSTL vs. DUOG - Dividend Comparison

Neither VSTL nor DUOG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VSTL and DUOG in my portfolio?

VSTL and DUOG have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VSTL or DUOG?

On fees, DUOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VSTL or DUOG?

DUOG is cheaper with a 0.75% expense ratio, compared with 1.29% for VSTL.

Which ETF pays a higher dividend yield, VSTL or DUOG?

VSTL and DUOG have nearly identical dividend yields, around 0.00%.

What is the main difference between VSTL and DUOG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.29% for VSTL and 0.75% for DUOG.