VSTL vs. MSTX
VSTL (Defiance Daily Target 2X Long VST 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, VSTL returned -66.54% vs -97.40% for MSTX. Their 0.23 correlation means their historical movements had little consistent relationship. Both charge a 1.29% expense ratio.
Performance
VSTL vs. MSTX - Performance Comparison
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Returns By Period
In the year-to-date period, VSTL achieves a -35.33% return, which is significantly higher than MSTX's -79.12% return.
VSTL
- 1D
- -0.06%
- 1M
- -6.33%
- 6M
- -28.91%
- YTD
- -35.33%
- 1Y
- -66.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -58.65%
MSTX
- 1D
- -8.53%
- 1M
- -18.21%
- 6M
- -76.83%
- YTD
- -79.12%
- 1Y
- -97.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -77.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $57.41M | $66.45M | $80.88M | |
| $651.64K | $708.80K | $1.90M |
VSTL vs. MSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VSTL Defiance Daily Target 2X Long VST ETF | -35.33% | -37.40% |
MSTX Defiance Daily Target 2X Long MSTR ETF | -79.12% | -91.00% |
Correlation
The correlation between VSTL and MSTX is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 22, 2025 | 0.23 |
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Return for Risk
VSTL vs. MSTX — Risk / Return Rank
VSTL
MSTX
VSTL vs. MSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long VST ETF (VSTL) 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.
| VSTL | MSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.75 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -1.00 | +0.06 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.21 | -0.15 |
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Drawdowns
VSTL vs. MSTX - Drawdown Comparison
The maximum VSTL drawdown since its inception was -71.42%, smaller than the maximum MSTX drawdown of -99.46%. Use the drawdown chart below to compare losses from any high point for VSTL and MSTX.
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Drawdown Indicators
| VSTL | MSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.42% | -99.46% | +28.04% |
Max Drawdown (1Y)Largest decline over 1 year | -71.42% | -98.15% | +26.73% |
Current DrawdownCurrent decline from peak | -68.28% | -99.36% | +31.08% |
Average DrawdownAverage peak-to-trough decline | -43.67% | -72.18% | +28.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.96% | 81.05% | -32.09% |
Volatility
VSTL vs. MSTX - Volatility Comparison
The current volatility for Defiance Daily Target 2X Long VST ETF (VSTL) is 25.95%, while Defiance Daily Target 2X Long MSTR ETF (MSTX) has a volatility of 36.23%. This indicates that VSTL experiences smaller price fluctuations and is considered to be less risky than MSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSTL | MSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.95% | 36.23% | -10.28% |
Volatility (6M)Calculated over the trailing 6-month period | 68.40% | 120.60% | -52.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 97.01% | 149.90% | -52.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.03% | 167.17% | -70.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.03% | 167.17% | -70.14% |
VSTL vs. MSTX - Expense Ratio Comparison
Both VSTL and MSTX have an expense ratio of 1.29%.
Dividends
VSTL vs. MSTX - Dividend Comparison
Neither VSTL 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% |
VSTL Defiance Daily Target 2X Long VST ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VSTL and MSTX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTX has higher volatility (36.23%) compared to VSTL (25.95%). In terms of maximum drawdown, VSTL dropped -71.42% vs MSTX's -99.46%.
On 1-year performance, VSTL leads with -66.54% vs -97.40% for MSTX. Both ETFs have the same 1.29% expense ratio. On volatility, VSTL has been the lower-risk option at 25.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VSTL has performed better with a -66.54% return vs -97.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VSTL and MSTX have the same expense ratio: 1.29% per year.
VSTL and MSTX have nearly identical dividend yields, around 0.00%.
MSTX currently has the higher Sharpe Ratio (-0.65 vs -0.69), 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.
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