AAPX vs. MSFX

Last updated Aug 4, 2026

AAPX (T-Rex 2X Long Apple Daily Target ETF) and MSFX (T-Rex 2X Long Microsoft Daily Target ETF) are both Leveraged Equities funds from T-Rex. Both are actively managed. Over the past year, AAPX returned 87.44% vs -30.52% for MSFX. Their 0.31 correlation means their historical movements had little consistent relationship. Both charge a 1.05% expense ratio.

Performance

AAPX vs. MSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Apple Daily Target ETF (AAPX) and T-Rex 2X Long Microsoft Daily Target ETF (MSFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPX achieves a 11.18% return, which is significantly higher than MSFX's -11.96% return.

AAPX

• 1D: -4.35%
• 1M: -5.29%
• 6M: 14.57%
• YTD: 11.18%
• 1Y: 87.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.35%

MSFX

• 1D: 9.85%
• 1M: 50.88%
• 6M: 17.92%
• YTD: -11.96%
• 1Y: -30.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAPX T-Rex 2X Long Apple Daily Target ETF	$2.19M	$2.07M	$2.17M
MSFX T-Rex 2X Long Microsoft Daily Target ETF	$8.39M	$6.26M	$5.71M

AAPX vs. MSFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AAPX T-Rex 2X Long Apple Daily Target ETF	11.18%	-4.95%	58.57%
MSFX T-Rex 2X Long Microsoft Daily Target ETF	-11.96%	9.84%	3.03%

Correlation

The correlation between AAPX and MSFX is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.31

The correlation between AAPX and MSFX shifts across timeframes, from 0.16 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

AAPX vs. MSFX - Sectors Allocation Comparison

Sectors	AAPX	MSFX
Technology	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AAPX vs. MSFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AAPX

AAPX Risk / Return Rank: 68
AAPX Sharpe Ratio Rank: 71
AAPX Sortino Ratio Rank: 65
AAPX Omega Ratio Rank: 70
AAPX Calmar Ratio Rank: 78
AAPX Martin Ratio Rank: 54

MSFX

MSFX Risk / Return Rank: 6
MSFX Sharpe Ratio Rank: 5
MSFX Sortino Ratio Rank: 6
MSFX Omega Ratio Rank: 6
MSFX Calmar Ratio Rank: 5
MSFX Martin Ratio Rank: 6

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AAPX vs. MSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Apple Daily Target ETF (AAPX) and T-Rex 2X Long Microsoft Daily Target ETF (MSFX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AAPX	MSFX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	-0.48	+2.18
Sortino ratio: Return per unit of downside risk	2.24	-0.40	+2.64
Omega ratio: Gain probability vs. loss probability	1.30	0.95	+0.35
Calmar ratio: Return relative to maximum drawdown	2.92	-0.48	+3.40
Martin ratio: Return relative to average drawdown	6.59	-0.79	+7.38

AAPX vs. MSFX - Sharpe Ratio Comparison

The current AAPX Sharpe Ratio is 1.70, which is higher than the MSFX Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of AAPX and MSFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAPX vs. MSFX - Drawdown Comparison

The maximum AAPX drawdown since its inception was -58.55%, smaller than the maximum MSFX drawdown of -63.56%. Use the drawdown chart below to compare losses from any high point for AAPX and MSFX.

Drawdown Indicators

	AAPX	MSFX	Difference
Max Drawdown Largest peak-to-trough decline	-58.55%	-63.56%	+5.01%
Max Drawdown (1Y) Largest decline over 1 year	-30.12%	-63.56%	+33.44%
Current Drawdown Current decline from peak	-21.02%	-33.35%	+12.33%
Average Drawdown Average peak-to-trough decline	-18.65%	-23.35%	+4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.31%	38.76%	-25.45%

Volatility

AAPX vs. MSFX - Volatility Comparison

The current volatility for T-Rex 2X Long Apple Daily Target ETF (AAPX) is 21.47%, while T-Rex 2X Long Microsoft Daily Target ETF (MSFX) has a volatility of 30.51%. This indicates that AAPX experiences smaller price fluctuations and is considered to be less risky than MSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPX	MSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.47%	30.51%	-9.04%
Volatility (6M) Calculated over the trailing 6-month period	41.73%	52.16%	-10.43%
Volatility (1Y) Calculated over the trailing 1-year period	51.74%	63.62%	-11.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.85%	54.04%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.85%	54.04%	+1.81%

AAPX vs. MSFX - Expense Ratio Comparison

Both AAPX and MSFX have an expense ratio of 1.05%.

Dividends

AAPX vs. MSFX - Dividend Comparison

AAPX's dividend yield for the trailing twelve months is around 0.60%, less than MSFX's 6.07% yield.

Position	TTM	2025	2024
AAPX T-Rex 2X Long Apple Daily Target ETF	0.60%	0.67%	21.46%
MSFX T-Rex 2X Long Microsoft Daily Target ETF	6.07%	5.34%	0.00%

Frequently Asked Questions

Can I hold both AAPX and MSFX in my portfolio?

AAPX and MSFX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPX or MSFX?

MSFX has higher volatility (30.51%) compared to AAPX (21.47%). In terms of maximum drawdown, AAPX dropped -58.55% vs MSFX's -63.56%.

Which ETF is better, AAPX or MSFX?

On 1-year performance, AAPX leads with 87.44% vs -30.52% for MSFX. Both ETFs have the same 1.05% expense ratio. On volatility, AAPX has been the lower-risk option at 21.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPX or MSFX?

Over the 1-year period, AAPX has performed better with a 87.44% return vs -30.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPX or MSFX?

AAPX and MSFX have the same expense ratio: 1.05% per year.

Which ETF pays a higher dividend yield, AAPX or MSFX?

MSFX has the higher dividend yield at 6.07%, compared with 0.60% for AAPX.

Which has better risk-adjusted returns?

AAPX currently has the higher Sharpe Ratio (1.70 vs -0.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.