Defiance ETFs LLCLeveraged EquityMSTX · Nasdaq

Defiance Daily Target 2x Long MSTR ETF (MSTX)

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Price: $14.01; —11 Sept 2026
Assets: $276.8M; Total net assets
Expense ratio: 1.31%; Category 0.00%
Yield: 0.00%; Trailing distributions

1Y return: -93.8%-126.1%; Category 32.3%
3Y CAGR: —; Category 25.3%
5Y CAGR: —; Category 6.1%

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Defiance Daily Target 2x Long MSTR ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	+71.1%	-13.4%	-44.4%	-63.6%	-93.8%	—	—	—	-68.0%
Leveraged Equity average	-3.1%	-7.2%	21.2%	13.2%	32.3%	25.3%	6.1%	9.5%	-5.3%
Difference	+74.2%	-6.2%	-65.6%	-76.8%	-126.1%	—	—	—	-62.7%

Holdings

The 2 largest positions make up 7.2% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
FGXXX	First American Government Obligs X	7.18%
DGCXX	BNY Dreyfus Govt Cash Mgmt Instl	0.00%

Credit quality

Share of the bonds by rating.

US government9.0%

Asset mix

Stocks158.8%
Other28.2%

ETF details

Issuer: Defiance ETFs LLC
Category: Equity · Leveraged Equity
Ticker: MSTX
Exchange: Nasdaq
Inception: 14 Aug 2024 (2.1 years)
Structure: Exchange Traded Fund
Expense ratio: 1.31% (category 0.00%)
Holdings turnover: 4,006%
Distribution yield: 0.00%
Beta, 3 years: 0.00
Total net assets: $276.8M

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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