- CUSIP
- 26923N413
- Issuer
- REX
- Inception Date
- Sep 17, 2024
- Category
- Inverse Equities, Leveraged Equities
- Leveraged
- -2x
- Index Tracked
- No Index (Active)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $123M
Share Price Chart
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Performance
MSTZ Performance Chart
T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) is down 25.9% since the beginning of the year. MSTZ is currently trading at $13 per share.
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Returns By Period
T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has returned -25.89% so far this year and 204.07% over the past 12 months.
T-REX 2X Inverse MSTR Daily Target ETF
- 1D
- 7.35%
- 1M
- 44.51%
- 6M
- -14.87%
- YTD
- -25.89%
- 1Y
- 204.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.28%
- 1M
- 1.04%
- 6M
- 8.12%
- YTD
- 9.31%
- 1Y
- 20.19%
- 3Y*
- 19.37%
- 5Y*
- 11.36%
- 10Y*
- 13.39%
MSTZ Monthly Returns History
Based on dividend-adjusted daily data since Sep 18, 2024, MSTZ's average daily return is -0.17%, while the average monthly return is -1.22%.
Historically, 35% of months were positive and 65% were negative. The best month was Jun 2026 with a return of +157.1%, while the worst month was Nov 2024 at -80.1%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 5 months.
On a daily basis, MSTZ closed higher 53% of trading days. The best single day was Feb 5, 2026 with a return of +34.2%, while the worst single day was Feb 6, 2026 at -52.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -8.28% | -17.29% | -4.07% | -50.72% | -1.79% | 157.12% | -18.16% | -25.89% | |||||
| 2025 | -38.52% | 48.52% | -45.30% | -62.87% | -0.38% | -19.46% | -6.70% | 32.18% | 2.04% | 26.81% | 104.20% | 25.92% | -38.95% |
| 2024 | -44.40% | -63.10% | -80.08% | 36.36% | -94.43% |
Benchmark Metrics
T-REX 2X Inverse MSTR Daily Target ETF has an annualized alpha of 49.92%, beta of -4.89, and R2 of 0.22 versus S&P 500 Index. Calculated based on daily prices since September 18, 2024.
- This ETF participated in 364.31% of S&P 500 Index downside but only -164.42% of its upside - more exposed to losses than it benefited from rallies.
- Beta of -4.89 may look defensive, but with R2 of 0.22 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.22 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 49.92%
- Beta
- -4.89
- R²
- 0.22
- Upside Capture
- -164.42%
- Downside Capture
- 364.31%
Expense Ratio
MSTZ has a high expense ratio of 1.05%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MSTZ ranks 51 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MSTZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 2.23 | +0.19 |
| Martin ratioReturn relative to average drawdown | 4.75 | 9.68 | -4.93 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T-REX 2X Inverse MSTR Daily Target ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T-REX 2X Inverse MSTR Daily Target ETF was 99.38%, occurring on Jul 16, 2025. The portfolio has not yet recovered.
The current T-REX 2X Inverse MSTR Daily Target ETF drawdown is 97.48%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 bear market2025 | -99.38%Jul 2025 | 10mo 1d | — | 1y 9moSep 2024 - now |
Drawdown Indicators
| MSTZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.38% | -56.78% | -42.60% |
Max Drawdown (1Y)Largest decline over 1 year | -84.89% | -9.10% | -75.79% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -97.48% | -1.67% | -95.81% |
Average DrawdownAverage peak-to-trough decline | -94.51% | -10.71% | -83.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.28% | 2.09% | +41.19% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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