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Beacon

MSTXDefiance Daily Target 2X Long MSTR ETF

Take a bet1y track recordRanked #211 of 949 in this goal

Seeks daily investment results of 200% the daily percentage change in the share price of MicroStrategy Incorporated.

By Defiance ETFs LLC · Launched 2024

Annual Cost

1.31%

#5,611 of 5,861 · expensive

Fund Size

$151M

#2,613 of 5,861 · mid-size

Return (1Y)Goal

-97.8%

Track Record

1 year

#3,650 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$333-96.7%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Equity

Strategy

Leveraged

What it actually holds

By weight

Concentration

single-stock bet — holdings shown are derivatives collateral, not diversification

N/A
9.8%
N/A
8.7%
TREASURY BILL
8.2%
N/A
7.9%
N/A
7.5%
First American Government Obli
5.9%
N/A
5.6%
N/A
4.5%
Dreyfus Government Cash Management
0.0%

Asset allocation

Stocks
174.0%
Other
57.2%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
149.9%High

Year-on-year price swings

Max drawdown
-100.0%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-0.09Below average
Sortino (3Y)
-0.14Moderate downside risk

Listing

Exchange
NASDAQ Global Select Market

Full fund details

Objective
Seeks daily investment results of 200% the daily percentage change in the share price of MicroStrategy Incorporated.
Strategy
Actively managed ETF aiming for 200% daily exposure to the share price of MicroStrategy (MSTR) using derivatives like swaps and options. The strategy focuses on achieving this target for a single trading day, with high turnover and potential volatility risks.
Inception date
August 14, 2024
Fund family
Defiance ETFs LLC

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Leveraged single stock
Critical

Most of these lose money

These funds amplify one stock's daily move, then reset every day. More than half of them have lost money outright, and the daily reset plus financing costs drag roughly 9.5% a year off the return. The longer you hold, the more that compounding works against you.

Sources: Bessembinder, 'Leveraged Single-Stock ETFs' (SSRN 2025)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04