MSTX vs IVOL

Comparison between Defiance Daily Target 2x Long MSTR ETF (MSTX, ETF) and QUADRATIC INTEREST RATE VOLATILITY AND INFLATION HEDGE ETF (IVOL, ETF).

MSTX vs IVOL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MSTX(ETF)	IVOL(ETF)
Net Assets	$314M	$314M
Expense Ratio	N/A	0.98%
Max Drawdown	99.18%	39.76%
Sharpe Ratio	-1.54	-1.18
5Y Beta	4.82	-0.20
5Y Dividends CAGR	N/A	-5.74%

Net Assets

Winner

MSTX

$314M

IVOL

$314M

Expense Ratio

MSTX

N/A

IVOL

0.98%

Max Drawdown

MSTX

99.18%

Winner

IVOL

39.76%

Sharpe Ratio

MSTX

-1.54

Winner

IVOL

-1.18

5Y Beta

MSTX

4.82

Winner

IVOL

-0.20

5Y Dividends CAGR

MSTX

N/A

IVOL

-5.74%

MSTX vs IVOL - Historical Returns

Returns include dividend reinvestment.

Period	MSTX	IVOL
1 month	-55.85%	-1.68%
3 months	-43.75%	-5.53%
6 months	-66.91%	-6.71%
1 year	-95.72%	-4.62%
5 years(CAGR)	N/A	-5.60%
Max(CAGR)	-70.12%	-1.37%

MSTX

-55.85%

Winner

IVOL

-1.68%

MSTX

-43.75%

Winner

IVOL

-5.53%

MSTX

-66.91%

Winner

IVOL

-6.71%

MSTX

-95.72%

Winner

IVOL

-4.62%

5Y(CAGR)

MSTX

N/A

IVOL

-5.60%

Max(CAGR)

MSTX

-70.12%

Winner

IVOL

-1.37%

MSTX vs IVOL - Annual Returns (2019 - 2026)

Returns include dividend reinvestment.

Year	MSTX	IVOL
2026	-61.49%	-6.31%
2025	-89.80%	+12.03%
2024	+143.64%	-10.51%
2023	N/A	-4.63%
2022	N/A	-12.97%
2021	N/A	-0.69%
2020	N/A	+14.96%
2019	N/A	+3.23%

MSTX vs IVOL Drawdown Comparison

The maximum drawdown for MSTX was -98.84%, occurring on Jun 10, 2026. This drawdown has not yet recovered.

The maximum drawdown for IVOL was -31.17%, occurring on Dec 18, 2024. This drawdown has not yet recovered.

The current MSTX drawdown is -98.71%. The current IVOL drawdown is -26.65%.

Rank	MSTX	IVOL
#1	-98.84% Nov 20, 2024 - Jun 10, 2026	-31.17% May 10, 2021 - Dec 18, 2024
#2	-38.90% Aug 23, 2024 - Sep 26, 2024	-8.02% Mar 6, 2020 - Mar 26, 2020
#3	-26.07% Oct 29, 2024 - Nov 7, 2024	-3.93% Mar 26, 2020 - Apr 8, 2020
#4	-16.43% Nov 12, 2024 - Nov 18, 2024	-3.23% Jun 6, 2019 - Feb 28, 2020
#5	-15.43% Oct 11, 2024 - Oct 18, 2024	-2.52% Apr 13, 2020 - May 8, 2020
#6	-13.61% Sep 27, 2024 - Oct 7, 2024	-2.26% Feb 16, 2021 - May 5, 2021
#7	-9.40% Aug 21, 2024 - Aug 23, 2024	-1.94% Aug 31, 2020 - Dec 2, 2020
#8	-7.75% Oct 8, 2024 - Oct 11, 2024	-1.50% May 16, 2019 - May 30, 2019
#9	-4.50% Oct 22, 2024 - Oct 24, 2024	-1.37% May 8, 2020 - Jun 4, 2020
#10	-2.11% Aug 19, 2024 - Aug 21, 2024	-1.22% Jun 5, 2020 - Aug 5, 2020
#11	-1.07% Oct 24, 2024 - Oct 28, 2024	-0.51% Aug 17, 2020 - Aug 25, 2020
#12	-0.42% Nov 7, 2024 - Nov 11, 2024	-0.47% Jan 21, 2021 - Feb 3, 2021
#13	N/A	-0.39% Dec 21, 2020 - Jan 4, 2021
#14	N/A	-0.39% Jan 7, 2021 - Jan 14, 2021
#15	N/A	-0.31% Feb 8, 2021 - Feb 12, 2021

Correlation

Correlation between MSTX and IVOL is -0.35 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.35

-101