Defiance Daily Target 1.75x Long MSTR ETF (MSTX) Performance
MSTX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −59.1% since Dec 31, 2025
- 1 year
- −90.0% total return
- Since first price
- −89.4% since 2024
MSTX trailing returns vs SPY, QQQ, AGG
| Period | MSTX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −23.7% | −23.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +91.1% | +91.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −55.3% | −55.3% | +7.8% | +8.4% | −1.5% |
| YTD | −59.1% | −59.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −90.0% | −90.0% | +14.4% | +15.9% | −1.1% |
| Since inceptionAug 15, 2024 | −89.4% | −89.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MSTX vs SPY
From Aug 15, 2024: MSTX grew to $1,063, SPY to $14,101.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MSTX returns by calendar year
0 of 1 full years positive. Best 2025 (−89.1%), worst 2025 (−89.1%). 2026 is year to date.
MSTX annual returns table
| Year | MSTX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −59.1% | −87.0% | +12.3% | +15.1% | −1.0% |
| 2025 | −89.1% | −93.8% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MSTX largest drawdowns
Now 98.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 20, 2024 | −99.5% | Jun 26, 2026 | not yet | 1.6 years | 1.9 years so far |
| Aug 23, 2024 | −38.9% | Sep 6, 2024 | Sep 26, 2024 | 14 days | 34 days |
| Oct 29, 2024 | −26.1% | Nov 4, 2024 | Nov 7, 2024 | 6 days | 9 days |
| Nov 12, 2024 | −16.4% | Nov 14, 2024 | Nov 18, 2024 | 2 days | 6 days |
| Oct 11, 2024 | −15.4% | Oct 17, 2024 | Oct 18, 2024 | 6 days | 7 days |
| Sep 27, 2024 | −13.6% | Oct 1, 2024 | Oct 7, 2024 | 4 days | 10 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MSTX risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −63.0% |
| Volatility (annualized) | 160.0% |
| Sharpe ratio | 0.17 |
| Sortino ratio | 0.28 |
| Best month | +90.8% |
| Worst month | −73.6% |
| Best 12 months | +66.7% |
| Worst 12 months | −98.2% |
| Positive months | 44% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MSTX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 15 | −98.2% | −91.8% | +66.7% | 13% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
MSTX performance overview
Defiance Daily Target 1.75x Long MSTR ETF (MSTX) returned −90.0% over the past year, with distributions reinvested. Since its first recorded price on Aug 15, 2024 it has returned −89.4%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.5%, from Nov 20, 2024 to Jun 26, 2026; the fund has not yet regained that high. Volatility has been 160.0% a year.
Related: MSTX chart. See the MSTX overview for the latest quote and fund facts.
MSTX performance FAQ
What is the MSTX return over the past year?
MSTX returned −90.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 90.0%.
How much would $10,000 invested in MSTX be worth?
$10,000 invested in MSTX at its first recorded close on August 15, 2024 would be worth about $1,063 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of MSTX?
The largest peak-to-trough decline was −99.5% between November 20, 2024 and June 26, 2026. It has not yet recovered to that high; it is 98.7% below its peak.
How volatile is MSTX?
Over the past history MSTX had an annualized volatility of 160.0% and a Sharpe ratio of 0.17 (excess return over 1–3 month T-bills per unit of risk).