YBMN vs. MST

Last updated Jun 5, 2026

YBMN (Defiance BMNR Option Income ETF) and MST (Defiance Leveraged Long Income MSTR ETF) are both Derivative Income funds from Defiance. Both are actively managed. Their correlation of 0.80 suggests significant overlap in exposure. YBMN charges 0.85%/yr vs 1.31%/yr for MST.

Performance

YBMN vs. MST - Performance Comparison

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

Returns By Period

In the year-to-date period, YBMN achieves a -23.25% return, which is significantly higher than MST's -45.07% return.

YBMN

• 1D: 5.71%
• 1M: -18.29%
• YTD: -23.25%
• 6M: -39.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MST

• 1D: 3.45%
• 1M: -51.66%
• YTD: -45.07%
• 6M: -60.83%
• 1Y: -92.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YBMN vs. MST - Yearly Performance Comparison

	2026 (YTD)	2025
YBMN Defiance BMNR Option Income ETF	-23.25%	-2.52%
MST Defiance Leveraged Long Income MSTR ETF	-45.07%	-18.32%

Correlation

The correlation between YBMN and MST is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.80

Return for Risk

YBMN vs. MST — Risk / Return Rank

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

MST

MST Risk / Return Rank: 2
MST Sharpe Ratio Rank: 3
MST Sortino Ratio Rank: 1
MST Omega Ratio Rank: 1
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.

YBMN vs. MST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance BMNR Option Income ETF (YBMN) 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.

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

Sharpe Ratios by Period

	YBMN	MST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	-0.74	+0.21

Drawdowns

YBMN vs. MST - Drawdown Comparison

The maximum YBMN drawdown since its inception was -50.99%, smaller than the maximum MST drawdown of -94.99%. Use the drawdown chart below to compare losses from any high point for YBMN and MST.

Drawdown Indicators

	YBMN	MST	Difference
Max Drawdown Largest peak-to-trough decline	-50.99%	-94.99%	+44.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-94.99%	—
Current Drawdown Current decline from peak	-43.95%	-94.14%	+50.19%
Average Drawdown Average peak-to-trough decline	-31.06%	-62.34%	+31.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	72.56%	—

Volatility

Volatility by Period

	YBMN	MST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	35.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	100.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	80.44%	126.48%	-46.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.44%	123.71%	-43.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.44%	123.71%	-43.27%

YBMN vs. MST - Expense Ratio Comparison

YBMN has a 0.85% expense ratio, which is lower than MST's 1.31% expense ratio.

Dividends

YBMN vs. MST - Dividend Comparison

YBMN's dividend yield for the trailing twelve months is around 43.58%, less than MST's 818.48% yield.

Position	TTM	2025
MST Defiance Leveraged Long Income MSTR ETF	818.48%	381.22%
YBMN Defiance BMNR Option Income ETF	43.58%	6.80%

Frequently Asked Questions

Can I hold both YBMN and MST in my portfolio?

YBMN and MST have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, YBMN or MST?

On fees, YBMN is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, YBMN or MST?

YBMN is cheaper with a 0.85% expense ratio, compared with 1.31% for MST.

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

MST has the higher dividend yield at 818.48%, compared with 43.58% for YBMN.

What is the main difference between YBMN and MST?

Their fees differ too: 0.85% for YBMN and 1.31% for MST.