BRKD vs. MSTZ

Last updated Jun 4, 2026

BRKD (Direxion Daily BRKB Bear 1X Shares) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both Inverse Equities funds. BRKD is passively managed, while MSTZ is actively managed. Over the past year, BRKD returned 7.98% vs 94.24% for MSTZ. At a correlation of -0.02, they often move in opposite directions. BRKD charges 1.00%/yr vs 1.05%/yr for MSTZ.

Performance

BRKD vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily BRKB Bear 1X Shares (BRKD) 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, BRKD achieves a 5.90% return, which is significantly higher than MSTZ's -46.88% return.

BRKD

• 1D: 0.00%
• 1M: 0.00%
• YTD: 5.90%
• 6M: 6.63%
• 1Y: 7.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: 14.02%
• 1M: 86.49%
• YTD: -46.88%
• 6M: -23.06%
• 1Y: 94.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BRKD vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BRKD Direxion Daily BRKB Bear 1X Shares	5.90%	-6.69%	2.19%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-46.88%	-38.95%	66.96%

Correlation

The correlation between BRKD and MSTZ is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	-0.02

The correlation between BRKD and MSTZ shifts across timeframes, from -0.14 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BRKD vs. MSTZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BRKD

BRKD Risk / Return Rank: 20
BRKD Sharpe Ratio Rank: 20
BRKD Sortino Ratio Rank: 20
BRKD Omega Ratio Rank: 20
BRKD Calmar Ratio Rank: 21
BRKD Martin Ratio Rank: 17

MSTZ

MSTZ Risk / Return Rank: 26
MSTZ Sharpe Ratio Rank: 20
MSTZ Sortino Ratio Rank: 32
MSTZ Omega Ratio Rank: 34
MSTZ Calmar Ratio Rank: 24
MSTZ Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BRKD vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BRKB Bear 1X Shares (BRKD) 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.

	BRKD	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	0.60	0.68	-0.07
Sortino ratio: Return per unit of downside risk	1.00	1.74	-0.74
Omega ratio: Gain probability vs. loss probability	1.12	1.23	-0.10
Calmar ratio: Return relative to maximum drawdown	0.86	1.12	-0.26
Martin ratio: Return relative to average drawdown	1.67	2.35	-0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRKD vs. MSTZ - Sharpe Ratio Comparison

The current BRKD Sharpe Ratio is 0.60, which is comparable to the MSTZ Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of BRKD 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.

Sharpe Ratios by Period

	BRKD	MSTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	0.68	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	-0.53	+0.57

Drawdowns

BRKD vs. MSTZ - Drawdown Comparison

The maximum BRKD drawdown since its inception was -17.92%, smaller than the maximum MSTZ drawdown of -99.36%. Use the drawdown chart below to compare losses from any high point for BRKD and MSTZ.

Drawdown Indicators

	BRKD	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-17.92%	-99.36%	+81.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-84.89%	+75.55%
Current Drawdown Current decline from peak	-3.69%	-98.14%	+94.45%
Average Drawdown Average peak-to-trough decline	-7.74%	-94.39%	+86.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.78%	40.30%	-35.52%

Volatility

BRKD vs. MSTZ - Volatility Comparison

The current volatility for Direxion Daily BRKB Bear 1X Shares (BRKD) is 0.00%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.49%. This indicates that BRKD experiences smaller price fluctuations and is considered to be less risky than MSTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRKD	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	37.49%	-37.49%
Volatility (6M) Calculated over the trailing 6-month period	9.21%	125.82%	-116.61%
Volatility (1Y) Calculated over the trailing 1-year period	13.36%	140.34%	-126.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.26%	170.37%	-153.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.26%	170.37%	-153.11%

BRKD vs. MSTZ - Expense Ratio Comparison

BRKD has a 1.00% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

BRKD vs. MSTZ - Dividend Comparison

BRKD's dividend yield for the trailing twelve months is around 2.82%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025
BRKD Direxion Daily BRKB Bear 1X Shares	2.82%	3.50%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BRKD and MSTZ in my portfolio?

BRKD and MSTZ have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRKD or MSTZ?

MSTZ has higher volatility (37.49%) compared to BRKD (0.00%). In terms of maximum drawdown, BRKD dropped -17.92% vs MSTZ's -99.36%.

Which ETF is better, BRKD or MSTZ?

On 1-year performance, MSTZ leads with 94.24% vs 7.98% for BRKD. On fees, BRKD is cheaper at 1.00% per year. On volatility, BRKD has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRKD or MSTZ?

Over the 1-year period, MSTZ has performed better with a 94.24% return vs 7.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRKD or MSTZ?

BRKD is cheaper with a 1.00% expense ratio, compared with 1.05% for MSTZ.

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

BRKD has the higher dividend yield at 2.82%, compared with 0.00% for MSTZ.

What is the main difference between BRKD and MSTZ?

They also come from different issuers: Direxion and REX. Their fees differ too: 1.00% for BRKD and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (0.68 vs 0.60), 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.