Key stats
About Defiance Daily Target 2x Long MSTR ETF
Home page
Inception date
Aug 15, 2024
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
MSTX uses swap agreements to make bullish bets on MicroStrategy Incorporated's (NYSE: MSTR) share price. MSTR was originally known for its enterprise analytics software. It has then pivoted to include acquiring and holding Bitcoin (BTC) as another operational business. The fund maintains a daily leveraged exposure equivalent to 200% of the fund's net assets through daily rebalancing. As a geared product, the fund is intended as a short-term tactical tool, rather than as a long-term investment vehicle. As a result, returns may deviate from the expected 2x if held for longer than a single day due to compounding. This strategy is high-risk and does not include a defensive position as part of its overall process. Additionally, the fund could potentially lose money over time, even if MSTR's performance strengthens. The fund is expected to invest in cash-like instruments as collateral. Following October 29, 2024, the fund adjusted its leverage ratio from 1.75x to 2x.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Stocks5.17%
Technology Services5.17%
Bonds, Cash & Other94.83%
Cash76.10%
Mutual fund9.43%
Rights & Warrants9.30%
Stock breakdown by region
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
MSTX assets under management is 1.64 B USD. It's risen 35.36% over the last month.
MSTX fund flows account for 1.82 B USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, MSTX pays dividends to its holders with the dividend yield of 42.00%. The last dividend (Jan 3, 2025) amounted to 14.43 USD. The dividends are paid monthly.
MSTX shares are issued by Toroso Investments Topco LLC under the brand Defiance. The ETF was launched on Aug 15, 2024, and its management style is Active.
MSTX expense ratio is 1.29% meaning you'd have to pay 1.29% of your investment to help manage the fund.
MSTX follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
MSTX invests in cash.
MSTX price has risen by 45.81% over the last month, and its yearly performance shows a 102.52% increase. See more dynamics on MSTX price chart.
NAV returns, another gauge of an ETF dynamics, have risen by 64.51% over the last month, showed a 19.07% increase in three-month performance and has increased by 29.94% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by 64.51% over the last month, showed a 19.07% increase in three-month performance and has increased by 29.94% in a year.
MSTX trades at a premium (0.21%) meaning the ETF is trading at a higher price than the calculated NAV.