MST vs MBND

Comparison between DEFIANCE LEVERAGED LONG + INCOME MSTR ETF (MST, ETF) and STATE STREET(R) NUVEEN MUNICIPAL BOND ETF (MBND, ETF).

MST vs MBND - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MST(ETF)	MBND(ETF)
Net Assets	$27M	$27M
Expense Ratio	N/A	0.40%
Max Drawdown	97.95%	15.51%
Sharpe Ratio	-1.51	0.41
5Y Beta	4.70	0.01
5Y Dividends CAGR	N/A	60.54%

Net Assets

MST

$27M

Winner

MBND

$27M

Expense Ratio

MST

N/A

MBND

0.40%

Max Drawdown

MST

97.95%

Winner

MBND

15.51%

Sharpe Ratio

MST

-1.51

Winner

MBND

0.41

5Y Beta

MST

4.70

Winner

MBND

0.01

5Y Dividends CAGR

MST

N/A

MBND

60.54%

MST vs MBND - Historical Returns

Returns include dividend reinvestment.

Period	MST	MBND
1 month	-54.80%	+0.34%
3 months	-31.83%	+0.38%
6 months	-62.37%	+1.17%
1 year	-93.18%	+4.55%
5 years(CAGR)	N/A	+0.49%
Max(CAGR)	-91.94%	+0.66%

MST

-54.80%

Winner

MBND

+0.34%

MST

-31.83%

Winner

MBND

+0.38%

MST

-62.37%

Winner

MBND

+1.17%

MST

-93.18%

Winner

MBND

+4.55%

5Y(CAGR)

MST

N/A

MBND

+0.49%

Max(CAGR)

MST

-91.94%

Winner

MBND

+0.66%

MST vs MBND - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	MST	MBND
2026	-53.68%	+0.86%
2025	-87.64%	+2.79%
2024	N/A	+2.86%
2023	N/A	+5.48%
2022	N/A	-8.57%
2021	N/A	+0.59%

MST vs MBND Drawdown Comparison

The maximum drawdown for MST was -95.30%, occurring on Jun 10, 2026. This drawdown has not yet recovered.

The maximum drawdown for MBND was -13.18%, occurring on Oct 25, 2022. Recovery took 1033 trading sessions.

The current MST drawdown is -94.70%. The current MBND drawdown is -0.84%.

Rank	MST	MBND
#1	-95.30% Jul 16, 2025 - Jun 10, 2026	-13.18% Aug 3, 2021 - Sep 15, 2025
#2	-24.82% May 13, 2025 - Jul 14, 2025	-2.44% Feb 27, 2026 - Mar 27, 2026
#3	-4.88% May 9, 2025 - May 13, 2025	-2.07% Feb 11, 2021 - Jun 4, 2021
#4	-4.07% May 2, 2025 - May 8, 2025	-0.80% Sep 17, 2025 - Oct 15, 2025
#5	-3.45% Jul 14, 2025 - Jul 16, 2025	-0.57% Nov 12, 2025 - Jan 5, 2026
#6	N/A	-0.53% Jun 14, 2021 - Jul 8, 2021
#7	N/A	-0.33% Oct 27, 2025 - Nov 12, 2025
#8	N/A	-0.24% Jan 16, 2026 - Jan 30, 2026
#9	N/A	-0.13% Jul 8, 2021 - Jul 15, 2021
#10	N/A	-0.10% Jul 20, 2021 - Jul 28, 2021
#11	N/A	-0.10% Feb 19, 2026 - Feb 24, 2026
#12	N/A	-0.09% Feb 12, 2026 - Feb 17, 2026
#13	N/A	-0.08% Jul 28, 2021 - Aug 3, 2021
#14	N/A	-0.03% Feb 10, 2026 - Feb 12, 2026
#15	N/A	-0.03% Jan 30, 2026 - Feb 4, 2026

Correlation

Correlation between MST and MBND is -0.93 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.

-0.93

-101