{
 "ticker": "MST",
 "name": "Defiance Leveraged Long + Income MSTR ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/mst",
 "html": "https://etfiq.com/funds/mst",
 "markdown": "https://etfiq.com/funds/mst.md",
 "as_of": "2026-11-12",
 "verdict": "MST returned 0.3% over the three months to Nov 12, 2026.",
 "lead": "MST returned 0.3% over the three months to Nov 12, 2026.",
 "promise": {
  "badge": null,
  "label": "Not measured",
  "category": "leverage",
  "sentence": "it has no three-month number against its daily multiple",
  "figure": null,
  "unit": null,
  "from": null,
  "to": null,
  "url": "https://etfiq.com/promise-index/leverage/"
 },
 "key_facts": [
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+0.3%",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "as_of": "2026-11-12",
   "sentence": "MST, what the fund returned: +0.3%, as of Nov 12, 2026.",
   "cite": {
    "value": "+0.3%",
    "as_of": "2026-11-12",
    "source": "computed by ETFIQ from Tiingo daily prices",
    "url": "https://etfiq.com/funds/mst#fact-what-the-fund-returned",
    "text": "MST, what the fund returned: +0.3%, as of Nov 12, 2026."
   }
  },
  {
   "key": "how_much_it_moved_annualized",
   "label": "How much it moved, annualized",
   "value": "156%",
   "source": null,
   "as_of": "2026-11-12",
   "sentence": "MST, how much it moved, annualized: 156%, as of Nov 12, 2026.",
   "cite": {
    "value": "156%",
    "as_of": "2026-11-12",
    "source": null,
    "url": "https://etfiq.com/funds/mst#fact-how-much-it-moved-annualized",
    "text": "MST, how much it moved, annualized: 156%, as of Nov 12, 2026."
   }
  },
  {
   "key": "12_month_yield_special_payments_left_out_on_its_starting_price",
   "label": "12-month yield, special payments left out, on its starting price",
   "value": "16.0%",
   "source": "computed by ETFIQ from Tiingo daily prices and distributions",
   "as_of": "2026-11-12",
   "sentence": "MST, 12-month yield, special payments left out, on its starting price: 16.0%, as of Nov 12, 2026.",
   "cite": {
    "value": "16.0%",
    "as_of": "2026-11-12",
    "source": "computed by ETFIQ from Tiingo daily prices and distributions",
    "url": "https://etfiq.com/funds/mst#fact-12-month-yield-special-payments-left-out-on-its-starting-price",
    "text": "MST, 12-month yield, special payments left out, on its starting price: 16.0%, as of Nov 12, 2026."
   }
  },
  {
   "key": "12_month_cash_paid_including_specials_on_its_starting_price",
   "label": "12-month cash paid, including specials, on its starting price",
   "value": "20.0%",
   "source": null,
   "as_of": "2026-11-12",
   "sentence": "MST, 12-month cash paid, including specials, on its starting price: 20.0%, as of Nov 12, 2026.",
   "cite": {
    "value": "20.0%",
    "as_of": "2026-11-12",
    "source": null,
    "url": "https://etfiq.com/funds/mst#fact-12-month-cash-paid-including-specials-on-its-starting-price",
    "text": "MST, 12-month cash paid, including specials, on its starting price: 20.0%, as of Nov 12, 2026."
   }
  },
  {
   "key": "last_payment",
   "label": "Last payment (paid weekly), ex-date Nov 10, 2026",
   "value": "$0.0777",
   "source": "Tiingo end-of-day distributions",
   "as_of": "2026-11-10",
   "sentence": "MST, last payment (paid weekly), ex-date Nov 10, 2026: $0.0777, as of Nov 10, 2026.",
   "cite": {
    "value": "$0.0777",
    "as_of": "2026-11-10",
    "source": "Tiingo end-of-day distributions",
    "url": "https://etfiq.com/funds/mst#fact-last-payment",
    "text": "MST, last payment (paid weekly), ex-date Nov 10, 2026: $0.0777, as of Nov 10, 2026."
   }
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$18m",
   "source": "the issuer\u2019s own daily fund list, as of Nov 11, 2026",
   "as_of": "2026-11-11",
   "sentence": "MST, net assets: $18m (the issuer\u2019s own daily fund list, as of Nov 11, 2026).",
   "cite": {
    "value": "$18m",
    "as_of": "2026-11-11",
    "source": "the issuer\u2019s own daily fund list, as of Nov 11, 2026",
    "url": "https://etfiq.com/funds/mst#fact-net-assets",
    "text": "MST, net assets: $18m (the issuer\u2019s own daily fund list, as of Nov 11, 2026)."
   }
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.91%",
   "source": "485BPOS XBRL, Jul 27, 2026",
   "as_of": "2026-07-27",
   "sentence": "MST, expense ratio: 1.91% (485BPOS XBRL, Jul 27, 2026).",
   "cite": {
    "value": "1.91%",
    "as_of": "2026-07-27",
    "source": "485BPOS XBRL, Jul 27, 2026",
    "url": "https://etfiq.com/funds/mst#fact-expense-ratio",
    "text": "MST, expense ratio: 1.91% (485BPOS XBRL, Jul 27, 2026)."
   }
  }
 ],
 "fields": [
  {
   "key": "holds",
   "label": "Holds",
   "value": "150% to 200% of net assets in MSTR",
   "source": null
  },
  {
   "key": "stated_multiple",
   "label": "Stated multiple",
   "value": "not measured: no single stated multiple",
   "source": null
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "MicroStrategy",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$18m",
   "source": "the issuer\u2019s own daily fund list, as of Nov 11, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.91%",
   "source": "485BPOS XBRL, Jul 27, 2026"
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "May 2, 2025",
   "source": null
  },
  {
   "key": "promise_check",
   "label": "Promise check",
   "value": "Not measured. It has no three-month number against its daily multiple.",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Total return": "\u221245.1%",
   "The fund moved about, annualized": "143%"
  },
  {
   "window": "3 months",
   "Total return": "+0.3%",
   "The fund moved about, annualized": "156%"
  },
  {
   "window": "6 months",
   "Total return": "\u221273.3%",
   "The fund moved about, annualized": "146%"
  },
  {
   "window": "Year to date",
   "Total return": "\u221270.1%",
   "The fund moved about, annualized": "150%"
  },
  {
   "window": "1 year",
   "Total return": "\u221285.9%",
   "The fund moved about, annualized": "146%"
  }
 ],
 "questions": [
  {
   "q": "What does MST hold?",
   "a": "MST holds 150% to 200% of net assets in MSTR, rebuilt each day, as its prospectus states it."
  },
  {
   "q": "Does MST state one multiple?",
   "a": "No. Its prospectus states 150% to 200% of net assets in MSTR."
  }
 ],
 "key_stats": [
  {
   "key": "high52",
   "label": "52-week high, daily closes to Nov 12, 2026",
   "value": "$89.04 on Nov 13, 2025",
   "as_of": "2025-11-13",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 89.04,
   "window": {
    "from": "2025-11-13",
    "to": "2026-11-12"
   }
  },
  {
   "key": "low52",
   "label": "52-week low, daily closes to Nov 12, 2026",
   "value": "$6.59 on Jun 26, 2026",
   "as_of": "2026-06-26",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 6.59,
   "window": {
    "from": "2025-11-13",
    "to": "2026-11-12"
   }
  },
  {
   "key": "inrange",
   "label": "Close on Nov 12, 2026, within that range",
   "value": "$7.63, 1% of the way from the low to the high",
   "as_of": "2026-11-12",
   "source": "computed by ETFIQ from Tiingo daily prices",
   "number": 7.6346
  }
 ],
 "trading": {
  "as_of": "2026-11-11",
  "score": null,
  "tier": null,
  "status": "not-scored",
  "lines": [
   "Not scored.",
   "Premium to NAV at the Nov 11 close: +0.12%; 95% of days within \u00b10.52%."
  ],
  "page": "https://etfiq.com/funds/mst/trading/"
 },
 "outside_us": [
  {
   "key": "statutory",
   "label": "US tax withheld on dividends, no treaty",
   "value": "30%",
   "date": "2026-10-30",
   "source": "https://www.irs.gov/pub/irs-lbi/tax-treaty-table-1.pdf",
   "number": 30.0,
   "url": "https://www.irs.gov/pub/irs-lbi/tax-treaty-table-1.pdf"
  },
  {
   "key": "treaty",
   "label": "Treaty rates on dividends (IRS table, read Oct 30, 2026)",
   "value": "65 countries, 10% to 30%",
   "date": "2026-10-30",
   "source": "https://www.irs.gov/pub/irs-lbi/tax-treaty-table-1.pdf",
   "number": 65.0,
   "url": "https://www.irs.gov/individuals/international-taxpayers/tax-treaty-tables"
  },
  {
   "key": "qii",
   "label": "MST interest-related and short-term gain dividends",
   "value": "not read by ETFIQ"
  },
  {
   "key": "estate",
   "label": "US estate tax filing threshold, non-resident holders",
   "value": "$60,000",
   "date": "2026-10-30",
   "source": "https://www.irs.gov/instructions/i706na",
   "number": 60000.0,
   "url": "https://www.irs.gov/instructions/i706na"
  },
  {
   "key": "dist",
   "label": "Share class",
   "value": "Distributing",
   "source": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section852&num=0&edition=prelim",
   "url": "https://etfiq.com/learn/non-us-holders"
  }
 ],
 "flows": {
  "as_of": "2026-11-11",
  "coverage": "daily",
  "computed_by": "ETFIQ, from the change in shares outstanding times the previous day\u2019s NAV",
  "method": "https://etfiq.com/methodology/flows",
  "data": "https://etfiq.com/data/flows/funds/mst.json",
  "windows": [
   {
    "window": "1 day",
    "from": "2026-11-11",
    "to": "2026-11-11",
    "net_flow_usd": 0,
    "net_flow": "$0",
    "round_trip_usd": 0,
    "days_counted": 1,
    "trading_days": 1
   }
  ],
  "daily_counts_start": "2026-11-09",
  "windows_without_daily_figure": [
   "1 week",
   "1 month",
   "3 months",
   "Year to date",
   "1 year"
  ]
 },
 "generated": "2026-11-13",
 "license": "https://etfiq.com/license/",
 "license_text": "Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, MST, leveraged ETFs, data as of Nov 12, 2026. https://etfiq.com/funds/mst"
}