BTCL vs. MSII

Last updated Jun 25, 2026

BTCL (T-REX 2X Long Bitcoin Daily Target ETF) and MSII (REX MSTR Growth & Income ETF) are both exchange-traded funds - BTCL is a Leveraged Cryptocurrency fund actively managed by REX, while MSII is a Leveraged Equities fund actively managed by REX. Both are actively managed. Over the past year, BTCL returned -78.32% vs -71.84% for MSII. Their correlation of 0.82 suggests significant overlap in exposure. BTCL charges 0.95%/yr vs 0.99%/yr for MSII.

Performance

BTCL vs. MSII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and REX MSTR Growth & Income ETF (MSII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCL achieves a -61.71% return, which is significantly lower than MSII's -28.10% return.

BTCL

• 1D: -8.15%
• 1M: -39.74%
• YTD: -61.71%
• 6M: -61.82%
• 1Y: -78.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSII

• 1D: 0.00%
• 1M: -30.37%
• YTD: -28.10%
• 6M: -30.78%
• 1Y: -71.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCL vs. MSII - Yearly Performance Comparison

	2026 (YTD)	2025
BTCL T-REX 2X Long Bitcoin Daily Target ETF	-61.71%	-44.88%
MSII REX MSTR Growth & Income ETF	-28.10%	-61.03%

Correlation

The correlation between BTCL and MSII is 0.82, 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	0.82
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.82

The correlation between BTCL and MSII has been stable across timeframes, ranging from 0.82 to 0.82 - a consistent structural relationship.

Return for Risk

BTCL vs. MSII — Risk / Return Rank

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

BTCL

BTCL Risk / Return Rank: 1
BTCL Sharpe Ratio Rank: 2
BTCL Sortino Ratio Rank: 1
BTCL Omega Ratio Rank: 1
BTCL Calmar Ratio Rank: 1
BTCL Martin Ratio Rank: 1

MSII

MSII Risk / Return Rank: 1
MSII Sharpe Ratio Rank: 1
MSII Sortino Ratio Rank: 1
MSII Omega Ratio Rank: 1
MSII Calmar Ratio Rank: 1
MSII Martin Ratio Rank: 3

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.

BTCL vs. MSII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and REX MSTR Growth & Income ETF (MSII). 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.

	BTCL	MSII	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	-1.00	+0.12
Sortino ratio: Return per unit of downside risk	-1.71	-1.85	+0.14
Omega ratio: Gain probability vs. loss probability	0.81	0.79	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.94	-0.91	-0.03
Martin ratio: Return relative to average drawdown	-1.45	-1.29	-0.16

BTCL vs. MSII - Sharpe Ratio Comparison

The current BTCL Sharpe Ratio is -0.89, which is comparable to the MSII Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of BTCL and MSII, 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

BTCL vs. MSII - Drawdown Comparison

The maximum BTCL drawdown since its inception was -83.35%, which is greater than MSII's maximum drawdown of -78.73%. Use the drawdown chart below to compare losses from any high point for BTCL and MSII.

Drawdown Indicators

	BTCL	MSII	Difference
Max Drawdown Largest peak-to-trough decline	-83.35%	-78.73%	-4.62%
Max Drawdown (1Y) Largest decline over 1 year	-83.35%	-78.73%	-4.62%
Current Drawdown Current decline from peak	-83.35%	-76.65%	-6.70%
Average Drawdown Average peak-to-trough decline	-35.44%	-47.60%	+12.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.97%	55.55%	-1.58%

Volatility

BTCL vs. MSII - Volatility Comparison

T-REX 2X Long Bitcoin Daily Target ETF (BTCL) has a higher volatility of 26.68% compared to REX MSTR Growth & Income ETF (MSII) at 21.22%. This indicates that BTCL's price experiences larger fluctuations and is considered to be riskier than MSII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCL	MSII	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.68%	21.22%	+5.46%
Volatility (6M) Calculated over the trailing 6-month period	70.04%	56.59%	+13.45%
Volatility (1Y) Calculated over the trailing 1-year period	88.73%	71.94%	+16.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.81%	70.49%	+27.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.81%	70.49%	+27.32%

BTCL vs. MSII - Expense Ratio Comparison

BTCL has a 0.95% expense ratio, which is lower than MSII's 0.99% expense ratio.

Dividends

BTCL vs. MSII - Dividend Comparison

BTCL's dividend yield for the trailing twelve months is around 4.43%, less than MSII's 85.81% yield.

Position	TTM	2025	2024
BTCL T-REX 2X Long Bitcoin Daily Target ETF	4.43%	1.70%	4.35%
MSII REX MSTR Growth & Income ETF	85.81%	48.93%	0.00%

Frequently Asked Questions

Can I hold both BTCL and MSII in my portfolio?

BTCL and MSII have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTCL or MSII?

BTCL has higher volatility (26.68%) compared to MSII (21.22%). In terms of maximum drawdown, BTCL dropped -83.35% vs MSII's -78.73%.

Which ETF is better, BTCL or MSII?

On 1-year performance, MSII leads with -71.84% vs -78.32% for BTCL. On fees, BTCL is cheaper at 0.95% per year. On volatility, MSII has been the lower-risk option at 21.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCL or MSII?

Over the 1-year period, MSII has performed better with a -71.84% return vs -78.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCL or MSII?

BTCL is cheaper with a 0.95% expense ratio, compared with 0.99% for MSII.

Which ETF pays a higher dividend yield, BTCL or MSII?

MSII has the higher dividend yield at 85.81%, compared with 4.43% for BTCL.

What is the main difference between BTCL and MSII?

BTCL is categorized as Leveraged Cryptocurrency, while MSII is Leveraged Equities. Their fees differ too: 0.95% for BTCL and 0.99% for MSII.

Which has better risk-adjusted returns?

BTCL currently has the higher Sharpe Ratio (-0.89 vs -1.00), 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.