APPX vs. MSTZ

Last updated Aug 2, 2026

APPX (Tradr 2X Long APP Daily ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - APPX is a Leveraged Equities fund actively managed by Tradr, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, APPX returned -45.01% vs 159.07% for MSTZ. Their -0.35 correlation means they have often moved in opposite directions in the past. APPX charges 1.30%/yr vs 1.05%/yr for MSTZ.

Performance

APPX vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long APP Daily ETF (APPX) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APPX achieves a -78.81% return, which is significantly lower than MSTZ's -30.44% return.

APPX

• 1D: -3.99%
• 1M: -45.86%
• 6M: -53.32%
• YTD: -78.81%
• 1Y: -45.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -4.53%

MSTZ

• 1D: 8.95%
• 1M: 7.38%
• 6M: -24.16%
• YTD: -30.44%
• 1Y: 159.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -86.57%

*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)
APPX Tradr 2X Long APP Daily ETF	$8.26M	$9.43M	$24.29M
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	$101.73M	$133.33M	$177.41M

APPX vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025
APPX Tradr 2X Long APP Daily ETF	-78.81%	344.96%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-30.44%	175.95%

Correlation

The correlation between APPX and MSTZ is -0.37, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.37
Correlation (All Time) Calculated using the full available price history since Apr 25, 2025	-0.35

Return for Risk

APPX vs. MSTZ — Risk / Return Rank

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

APPX

APPX Risk / Return Rank: 9
APPX Sharpe Ratio Rank: 7
APPX Sortino Ratio Rank: 15
APPX Omega Ratio Rank: 16
APPX Calmar Ratio Rank: 5
APPX Martin Ratio Rank: 5

MSTZ

MSTZ Risk / Return Rank: 61
MSTZ Sharpe Ratio Rank: 58
MSTZ Sortino Ratio Rank: 68
MSTZ Omega Ratio Rank: 68
MSTZ Calmar Ratio Rank: 70
MSTZ Martin Ratio Rank: 42

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.

APPX vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long APP Daily ETF (APPX) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). 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.

	APPX	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	1.38	-1.72
Sortino ratio: Return per unit of downside risk	0.42	2.22	-1.79
Omega ratio: Gain probability vs. loss probability	1.05	1.28	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.58	2.44	-3.02
Martin ratio: Return relative to average drawdown	-0.87	4.53	-5.40

APPX vs. MSTZ - Sharpe Ratio Comparison

The current APPX Sharpe Ratio is -0.33, which is lower than the MSTZ Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of APPX and MSTZ, 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

APPX vs. MSTZ - Drawdown Comparison

The maximum APPX drawdown since its inception was -83.74%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for APPX and MSTZ.

Drawdown Indicators

	APPX	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-83.74%	-99.38%	+15.64%
Max Drawdown (1Y) Largest decline over 1 year	-83.74%	-84.89%	+1.15%
Current Drawdown Current decline from peak	-83.52%	-97.63%	+14.11%
Average Drawdown Average peak-to-trough decline	-41.83%	-94.63%	+52.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.86%	45.62%	+10.24%

Volatility

APPX vs. MSTZ - Volatility Comparison

Tradr 2X Long APP Daily ETF (APPX) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) have volatilities of 37.28% and 37.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APPX	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	37.28%	37.86%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	125.92%	134.52%	-8.60%
Volatility (1Y) Calculated over the trailing 1-year period	146.10%	150.23%	-4.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	139.85%	169.87%	-30.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	139.85%	169.87%	-30.02%

APPX vs. MSTZ - Expense Ratio Comparison

APPX has a 1.30% expense ratio, which is higher than MSTZ's 1.05% expense ratio.

Dividends

APPX vs. MSTZ - Dividend Comparison

APPX's dividend yield for the trailing twelve months is around 44.27%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025
APPX Tradr 2X Long APP Daily ETF	44.27%	9.38%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both APPX and MSTZ in my portfolio?

APPX and MSTZ have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APPX or MSTZ?

MSTZ has higher volatility (37.86%) compared to APPX (37.28%). In terms of maximum drawdown, APPX dropped -83.74% vs MSTZ's -99.38%.

Which ETF is better, APPX or MSTZ?

On 1-year performance, MSTZ leads with 159.07% vs -45.01% for APPX. On fees, MSTZ is cheaper at 1.05% per year. On volatility, APPX has been the lower-risk option at 37.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APPX or MSTZ?

Over the 1-year period, MSTZ has performed better with a 159.07% return vs -45.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APPX or MSTZ?

MSTZ is cheaper with a 1.05% expense ratio, compared with 1.30% for APPX.

Which ETF pays a higher dividend yield, APPX or MSTZ?

APPX has the higher dividend yield at 44.27%, compared with 0.00% for MSTZ.

What is the main difference between APPX and MSTZ?

APPX is categorized as Leveraged Equities, while MSTZ is Inverse Equities. They also come from different issuers: Tradr and REX. Their fees differ too: 1.30% for APPX and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.38 vs -0.33), 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.