MSTX ETF — Defiance Daily Target 2x Long MSTR ETF

Defiance Daily Target 2x Long MSTR ETF (MSTX)

Updated October 16, 2026.

MSTX is an ETF linked to Strategy (MSTR). its expense ratio is 1.31%. Total return is -90.5% over the past 2.2 years, 94.2 points behind MSTR at 3.7%.

This ETF seeks to deliver twice the daily percentage change in MicroStrategy stock performance through the use of derivatives such as swaps and options contracts; it is non-diversified and tracks a single underlying stock. The fund does not currently distribute, though it made a special distribution previously that should not be assumed to recur. The expense ratio is 1.31%. This security appeals to traders and experienced investors seeking leveraged short-term exposure to MicroStrategy's price movements, not to income-focused investors or those with longer holding periods.

MSTX performance versus MSTR

Price and return data through 2026-10-16.

Total return is -90.5% over the past 2.2 years, 94.2 points behind MSTR at 3.7%. Over the past year its total return — price change plus distributions reinvested — is -91.2%. Its deepest 1-year drawdown was 96.2%.

MSTX key facts

Issuer

Defiance ETFs

Asset type

ETF

Asset class

Equity

Inception date

08/14/2024

Expense ratio

1.31%

Distribution frequency

None

Last close

$14.03 (as of 2026-10-16)

AUM

$356,515,838

Average volume

8829704.0

Ex-dividend date

12/31/2024

Payment date

01/03/2025

Beta

5.9657

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Defiance ETFs or company page; Index: Strategy (MSTR); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MSTX risks and drawbacks

Total return has trailed MSTR over the available window. The deepest 1-year drawdown on record here is 96.2%.

Who may consider MSTX — and who may not

It is a weaker fit for investors who need monthly cash flow (MSTX does not currently distribute); investors whose main goal is matching MSTR total return. This is educational context, not a recommendation to buy or sell.

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Frequently asked questions

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