Leveraged Long + Income MSTR ETF

Frequently Asked Questions About MST

What does MST invest in?

The Defiance Daily Target 1.5X Long MSTR ETF (referred to as 'the Fund') is designed to deliver investment outcomes that are one-and-a-half times (150%) the daily percentage movement of MicroStrategy Incorporated (Nasdaq: MSTR) stock. Due to its strategy of seeking amplified daily returns, this Fund operates distinctly from conventional exchange-traded funds, and there is no assurance that it will consistently achieve its stated daily objective. Crucially, investors should not anticipate that the Fund will generate 1.5 times the cumulative performance of MSTR over any period exceeding a single trading day, as the leverage applies strictly to daily fluctuations.

What is the expense ratio of MST?

Leveraged Long + Income MSTR ETF (MST) charges an expense ratio of 2.02%. This is the annual fee deducted from fund assets to cover management and operations.

What is MST's dividend yield?

MST's trailing-twelve-month yield is 275.22%, calculated from the sum of dividends over the past year divided by the current price.

Is MST a good long-term hold?

MST is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple, typically with negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does MST's daily reset work?

MST rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level, so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is MST?

Leveraged Long + Income MSTR ETF (MST) manages $26.7M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.