BTCL vs. MSTR
BTCL (T-REX 2X Long Bitcoin Daily Target ETF) is Leveraged Cryptocurrency fund actively managed by REX, while MSTR (Strategy Inc) is a stock. Over the past year, BTCL returned -73.64% vs -70.39% for MSTR. A 0.78 correlation means they provide meaningful diversification when combined.
Performance
BTCL vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, BTCL achieves a -55.51% return, which is significantly lower than MSTR's -27.96% return.
BTCL
- 1D
- 4.80%
- 1M
- -29.98%
- YTD
- -55.51%
- 6M
- -56.73%
- 1Y
- -73.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- -2.73%
- 1M
- -31.54%
- YTD
- -27.96%
- 6M
- -33.39%
- 1Y
- -70.39%
- 3Y*
- 49.27%
- 5Y*
- 14.63%
- 10Y*
- 20.25%
BTCL vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCL T-REX 2X Long Bitcoin Daily Target ETF | -55.51% | -39.52% | 101.29% |
MSTR Strategy Inc | -27.96% | -47.53% | 122.48% |
Correlation
The correlation between BTCL and MSTR 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 Jul 10, 2024 | 0.78 |
The correlation between BTCL and MSTR has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.
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Return for Risk
BTCL vs. MSTR — Risk / Return Rank
BTCL
MSTR
BTCL vs. MSTR - 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 Strategy Inc (MSTR). 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 | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.80 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.92 | +0.03 |
| Martin ratioReturn relative to average drawdown | -1.38 | -1.30 | -0.07 |
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Drawdowns
BTCL vs. MSTR - Drawdown Comparison
The maximum BTCL drawdown since its inception was -82.70%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for BTCL and MSTR.
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Drawdown Indicators
| BTCL | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.70% | -99.86% | +17.16% |
Max Drawdown (1Y)Largest decline over 1 year | -82.70% | -76.53% | -6.17% |
Max Drawdown (3Y)Largest decline over 3 years | — | -77.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.27% | — |
Current DrawdownCurrent decline from peak | -80.66% | -76.90% | -3.76% |
Average DrawdownAverage peak-to-trough decline | -35.24% | -86.45% | +51.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.46% | 54.03% | -0.57% |
Volatility
BTCL vs. MSTR - Volatility Comparison
T-REX 2X Long Bitcoin Daily Target ETF (BTCL) has a higher volatility of 25.78% compared to Strategy Inc (MSTR) at 21.83%. This indicates that BTCL's price experiences larger fluctuations and is considered to be riskier than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCL | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.78% | 21.83% | +3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 69.86% | 57.40% | +12.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.36% | 72.01% | +16.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.73% | 90.54% | +7.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.73% | 73.91% | +23.82% |
Dividends
BTCL vs. MSTR - Dividend Comparison
BTCL's dividend yield for the trailing twelve months is around 3.81%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCL T-REX 2X Long Bitcoin Daily Target ETF | 3.81% | 1.70% | 4.35% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCL and MSTR 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.
BTCL has higher volatility (25.78%) compared to MSTR (21.83%). In terms of maximum drawdown, BTCL dropped -82.70% vs MSTR's -99.86%.
BTCL currently has the higher Sharpe Ratio (-0.84 vs -0.98), 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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