DYNF vs MSTQ

DYNFAiShares U.S. Equity Factor Rotation Active ETF

MSTQFLHA Market State Tactical Q ETF

In short

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

MSTQ A Nasdaq-100 ride with a volatility seatbelt: MSTQ holds Nasdaq-100 exposure in calm markets, then adds long VIX positions when the VIX futures curve signals stress. Rules-based, and running live since 2022.

Stated mandate

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

MSTQ The Fund seeks long-term outperformance relative to the U.S. large-capitalization equity market.

Why people hold it

• DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
• 0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
• A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
• Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

• MSTQ In calm markets it rides the Nasdaq-100 via an index fund or Nasdaq-100 futures, generally 80% to 120% exposure. When volatility stress signals fire, it buys long VIX exposure.lhafunds.comlittleharboradvisors.com
• The trigger is the shape of the volatility market itself: 30-day versus 90-day implied vol plus VIX futures, rather than a manager's gut call on when to duck.sec.gov
• Runs on a signal licensed exclusively from Thompson Capital, the shop that built it, and has traded in public markets since 2022. One ticker instead of a do-it-yourself options overlay.sec.gov

Worth knowing

• DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
• Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
• Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

• MSTQ At 1.55% with no fee waiver, it sits above the typical active US large-cap fee, and index-style peers such as DFAU (0.12%) and AVLC (0.15%) cost a sliver of that.
• Hedging is not free: when the signal turns defensive and stocks keep climbing, the long VIX leg drags while Nasdaq-100 exposure is dialed back.lhafunds.comsec.gov
• Small and thinly traded, so the spread is part of the cost of getting in and out, not just the expense ratio.

Full DYNF profile⁠

Full MSTQ profile⁠