IQ

MSTB · LHA Market State Tactical Beta ETF

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$43.45
+1.1% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

MSTB is actively managed and returned +8.1% over the past year.

Why did MSTB return +81.6% from Oct 2020 to Oct 2026, against VOO’s +137.3%?Is a 1.38% fee low for a fund like MSTB?What does MSTB cost to hold and to trade?
Equity fund · Actively managedExpense ratio 1.38%Fund assets $196m net assets, latest filing (Jun 30, 2026)First traded Sep 30, 2020Benchmark S&P 500 Index, measured by VOO, which tracks the same indexSEC filings ↗Dividend history

MSTB returned +8.1% over the year to Nov 4, 2026, charges 1.38% a year and holds $196m in net assets on Jun 30, 2026.

Promise check: Not measuredIt names no index it tracks.

Compare with…Trading costsPut to the committeeaskIQ about MSTBAdd to portfolioAlerts

MSTB risk and return scorecard

vs VOO · Oct 2020 to Oct 2026 · 316 weekly returns · dividend-adjusted

6.1 years
MSTB +81.6%, VOO +137.3%, Oct 2020 to Oct 2026, distributions reinvested.
Return
MeasureMSTBVOOEdge
Total return+81.6%+137.3%VOO
Annualized+10.3%+15.3%VOO
Price return+69.7%+118.1%VOO
Risk
MeasureMSTBVOOEdge
Volatility13.9%15.8%MSTB
Max drawdown−25.2%−23.9%VOO (slight)
Upside capture78.1%100.0%VOO
Downside capture93.7%100.0%MSTB (slight)
Risk-adjusted
MeasureMSTBVOOEdge
Sharpe ratio0.540.77VOO
Sortino ratio0.821.18VOO
Alpha vs VOO
MeasureMSTBVOOEdge
Alpha, a year−2.4%Not significant
Alpha t-stat−1.17
Beta to VOO0.821.00Lower beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

What you earned

MSTB −2.1%, VOO −1.1%: total return over one month to Nov 4, 2026.
MSTB−2.1%
VOO−1.1%
MSTB −1.9%, VOO −0.1%: total return over three months to Nov 4, 2026.
MSTB−1.9%
VOO−0.1%
MSTB +1.9%, VOO +5.0%: total return over six months to Nov 4, 2026.
MSTB+1.9%
VOO+5.0%
MSTB +8.9%, VOO +13.4%: total return over the year to Nov 4, 2026.
MSTB+8.9%
VOO+13.4%
MSTB +8.1%, VOO +14.8%: total return over one year to Nov 4, 2026.
MSTB+8.1%
VOO+14.8%
MSTB +68.7%, VOO +83.3%: total return over three years to Nov 4, 2026.
MSTB+68.7%
VOO+83.3%
MSTB +39.6%, VOO +75.5%: total return over five years to Nov 4, 2026.
MSTB+39.6%
VOO+75.5%
MSTB +84.9%, VOO +149.2%: total return since launch to Nov 4, 2026.
MSTB+84.9%
VOO+149.2%
askIQ: why did MSTB return +8.1% over one year, against VOO’s +14.8%? ↗

How concentrated, and what does it cost?

No index, actively managed
+8.1%
Total return, 1 year
Report
1.38%
Expense ratio
Report
1
Holdings
Report
−2.7%
Below its high
Report
0.4%
12-month yield, capital gains included, on its starting price
Report
$0.1638
Last payment (paid annually), ex-date Dec 30, 2025
Report
Sector mix
Cost against like funds
askIQ: is a 1.38% fee low for a fund like MSTB? ↗

More on MSTB

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Price, 1 year

$43.45+1.1%1 day, priceClose, Nov 4, 2026

Price only. Total return over the same days, distributions reinvested, was +8.1%. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Nov 4, 2026. Updated every trading night. Report a data error

Points (pts) are percentage points.

MSTB returns by window: total return, cash paid and price change
WindowTotal returnBenchmark (VOO)Gap to VOO
1M Oct 5 – Nov 4, 2026−2.1%−1.1%−1.0 pts
3M Aug 5 – Nov 4, 2026−1.9%−0.1%−1.8 pts
6M May 6 – Nov 4, 2026+1.9%+5.0%−3.1 pts
YTD Dec 31, 2025 – Nov 4, 2026+8.9%+13.4%−4.5 pts
1Y Nov 4, 2025 – Nov 4, 2026+8.1%+14.8%−6.7 pts
3Y Nov 3, 2023 – Nov 4, 2026+68.7%+83.3%−14.6 pts
5Y Nov 5, 2021 – Nov 4, 2026+39.6%+75.5%−35.9 pts
Since launch Sep 30, 2020 – Nov 4, 2026+84.9%+149.2%−64.3 pts
Since launch, annualised Sep 30, 2020 – Nov 4, 2026+10.6%––

Total returns, distributions reinvested.

Source: Tiingo end-of-day prices, with distributions reinvested.

MSTB key stats

52-week high, daily closes to Nov 4, 2026 (ETFIQ)$44.68 on Oct 6, 2026
52-week low, daily closes to Nov 4, 2026 (ETFIQ)$37.53 on Mar 30, 2026
Close on Nov 4, 2026, within that range (ETFIQ)$43.45, 83% of the way from the low to the high
Beta to its benchmark, 1 year (ETFIQ)0.85, against VOO
R-squared, the same days (ETFIQ)0.91
Beta and R-squared measured over251 daily total returns, Nov 5, 2025 to Nov 4, 2026
Holdings1
Top ten weight82.4%
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Nov 4, 2026
Trading · MSTBas of Nov 4, 2026
·
Not scored2 of 6 measured · Nov 4, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

MSTB for holders outside the US

US tax withheld on dividends, no treaty30%
Treaty rates on dividends (IRS table, read Oct 30, 2026)65 countries, 10% to 30%
MSTB interest-related and short-term gain dividendsnot read by ETFIQ
US estate tax filing threshold, non-resident holders$60,000
Share classDistributing

MSTB is a US fund. Stock of US corporations counts as US property for a non-resident's estate. Facts from the IRS, not tax advice. How withholding and treaties work

About MSTB

What it tracksNo index, actively managed
Fund typeEquity fund
Category (ETFIQ)Stocks · U.S. large-cap blend
Expense ratio (485BPOS XBRL, Apr 24, 2026)1.38%
Price$43.45
First tradedSep 30, 2020
Net assets (SEC filing, whole fund, as filed for Jun 30, 2026)$196mReport
Benchmark (ETFIQ, from its filings)S&P 500 Index, measured by VOO, which tracks the same index
Benchmark named inits prospectus, 485BPOS, Apr 24, 2026
MSTB, 1 year to Nov 4, 2026+8.1%
VOO, the same days+14.8%
Against its benchmark, 1 year (ETFIQ)−6.7 pts
Below its high (ETFIQ)−2.7%
Holdings1
Top ten weight82.4%
Cash, not in the top ten17.6%
Holdings as of (SEC N-PORT)Jun 30, 2026
Already in the S&P 500, by weight (ETFIQ)0.0%
Active share vs the S&P 500 (ETFIQ)100.0%
Already in the Nasdaq-100, by weight (ETFIQ)0.0%
IQ Investment Committee on MSTB

12 seats on MSTB, as of Nov 4, 2026: 2 Supports, 1 Mixed, 4 Challenges, 4 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostMixed
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyDoes not apply
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherChallenges
In the tradition ofHoward MarksMarks-style Cycles & RiskChallenges
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationSupports
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingSupports
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatChallenges
Put MSTB to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about MSTB

How has MSTB performed?
Over the year to Nov 4, 2026, MSTB returned +8.1% with distributions reinvested, against +14.8% for the S&P 500. Over three years the number is +68.7%.
What does MSTB cost?
The prospectus expense ratio is 1.38% a year.
What does MSTB hold?
1 position as filed for Jun 30, 2026, with the top ten at 82.4% of the fund. 0% of its weight is in stocks the S&P 500 also holds.
How far is MSTB below its high?
2.7% below its high of Oct 6, 2026, measured on the reinvested series to Nov 4, 2026.
Sources and dates
Prices, MSTB and Benchmark (VOO)Tiingo end-of-day · Nov 4, 2026
Fee, 1.38%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $196mSEC filing, whole fund · Jun 30, 2026
SourceHoldings filing (SEC Form N-PORT) ↗
IssuerLHA website ↗
All fund filingsFund filings on SEC EDGAR ↗
LHA’s own site ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, MSTB, stock fund, data as of Nov 4, 2026. https://etfiq.com/funds/mstb

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

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MSTB: MSTB over 1 year: total return +8.1%, its benchmark S&P 500 Index through VOO +14.8%, −6.8 pts. Data to Nov 4, 2026.
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<iframe src="https://etfiq.com/embed/core/mstb/" title="MSTB: MSTB over 1 year: total return +8.1%, its benchmark S&amp;P 500 Index through VOO +14.8%, −6.8 pts. Data to Nov 4, 2026." width="640" height="370" loading="lazy" style="border:0;max-width:100%;width:100%"></iframe>
<figcaption style="font:13px/1.5 sans-serif">MSTB: MSTB over 1 year: total return +8.1%, its benchmark S&amp;P 500 Index through VOO +14.8%, −6.8 pts. Data to Nov 4, 2026. Data: <a href="https://etfiq.com/funds/mstb">ETFIQ</a></figcaption>
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