BITX vs. MSTU
BITX (2x Bitcoin Strategy ETF) and MSTU (T-Rex 2X Long MSTR Daily Target ETF) are both exchange-traded funds - BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%), while MSTU is a Leveraged Equities fund actively managed by T-Rex. BITX is passively managed, while MSTU is actively managed. Over the past year, BITX returned -72.52% vs -96.32% for MSTU. A 0.78 correlation means they provide meaningful diversification when combined. BITX charges 2.38%/yr vs 1.05%/yr for MSTU.
Performance
BITX vs. MSTU - Performance Comparison
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Returns By Period
In the year-to-date period, BITX achieves a -54.53% return, which is significantly higher than MSTU's -67.51% return.
BITX
- 1D
- 4.77%
- 1M
- -29.55%
- YTD
- -54.53%
- 6M
- -55.51%
- 1Y
- -72.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTU
- 1D
- -5.59%
- 1M
- -56.73%
- YTD
- -67.51%
- 6M
- -72.64%
- 1Y
- -96.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITX vs. MSTU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | -54.53% | -38.71% | 108.68% |
MSTU T-Rex 2X Long MSTR Daily Target ETF | -67.51% | -89.07% | 205.47% |
Correlation
The correlation between BITX and MSTU is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024 | 0.78 |
The correlation between BITX and MSTU has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.
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Return for Risk
BITX vs. MSTU — Risk / Return Rank
BITX
MSTU
BITX vs. MSTU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and T-Rex 2X Long MSTR Daily Target ETF (MSTU). 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.
| BITX | MSTU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.77 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.99 | +0.10 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.23 | -0.14 |
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Drawdowns
BITX vs. MSTU - Drawdown Comparison
The maximum BITX drawdown since its inception was -82.16%, smaller than the maximum MSTU drawdown of -98.95%. Use the drawdown chart below to compare losses from any high point for BITX and MSTU.
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Drawdown Indicators
| BITX | MSTU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -98.95% | +16.79% |
Max Drawdown (1Y)Largest decline over 1 year | -82.16% | -97.47% | +15.31% |
Current DrawdownCurrent decline from peak | -79.90% | -98.95% | +19.05% |
Average DrawdownAverage peak-to-trough decline | -32.44% | -72.51% | +40.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 52.98% | 78.06% | -25.08% |
Volatility
BITX vs. MSTU - Volatility Comparison
The current volatility for 2x Bitcoin Strategy ETF (BITX) is 25.73%, while T-Rex 2X Long MSTR Daily Target ETF (MSTU) has a volatility of 43.88%. This indicates that BITX experiences smaller price fluctuations and is considered to be less risky than MSTU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITX | MSTU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.73% | 43.88% | -18.15% |
Volatility (6M)Calculated over the trailing 6-month period | 69.23% | 113.60% | -44.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.85% | 141.98% | -54.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.16% | 168.54% | -70.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.16% | 168.54% | -70.38% |
BITX vs. MSTU - Expense Ratio Comparison
BITX has a 2.38% expense ratio, which is higher than MSTU's 1.05% expense ratio.
Dividends
BITX vs. MSTU - Dividend Comparison
BITX's dividend yield for the trailing twelve months is around 35.05%, while MSTU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 35.05% | 21.69% | 10.70% |
MSTU T-Rex 2X Long MSTR Daily Target ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BITX and MSTU have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTU has higher volatility (43.88%) compared to BITX (25.73%). In terms of maximum drawdown, BITX dropped -82.16% vs MSTU's -98.95%.
On 1-year performance, BITX leads with -72.52% vs -96.32% for MSTU. On fees, MSTU is cheaper at 1.05% per year. On volatility, BITX has been the lower-risk option at 25.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BITX has performed better with a -72.52% return vs -96.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MSTU is cheaper with a 1.05% expense ratio, compared with 2.38% for BITX.
BITX has the higher dividend yield at 35.05%, compared with 0.00% for MSTU.
BITX is categorized as Cryptocurrency, while MSTU is Leveraged Equities. They also come from different issuers: Volatility Shares and T-Rex. Their fees differ too: 2.38% for BITX and 1.05% for MSTU.
MSTU currently has the higher Sharpe Ratio (-0.68 vs -0.83), 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.
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