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 -80.17% vs -78.22% 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 -56.85% return, which is significantly lower than MSTR's -37.72% return.
BTCL
- 1D
- 1.63%
- 1M
- -1.34%
- 6M
- -59.23%
- YTD
- -56.85%
- 1Y
- -80.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- 0.80%
- 1M
- -23.66%
- 6M
- -39.85%
- YTD
- -37.72%
- 1Y
- -78.22%
- 3Y*
- 31.91%
- 5Y*
- 8.53%
- 10Y*
- 17.95%
BTCL vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTCL T-REX 2X Long Bitcoin Daily Target ETF | -56.85% | -39.52% | 101.29% |
MSTR Strategy Inc | -37.72% | -47.53% | 122.48% |
Correlation
The correlation between BTCL and MSTR is 0.84, 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 | 0.84 |
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 0.84 - 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 | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.77 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.95 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.36 | -0.02 |
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Drawdowns
BTCL vs. MSTR - Drawdown Comparison
The maximum BTCL drawdown since its inception was -84.01%, 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 | -84.01% | -99.86% | +15.85% |
Max Drawdown (1Y)Largest decline over 1 year | -84.01% | -81.95% | -2.06% |
Max Drawdown (3Y)Largest decline over 3 years | — | -82.63% | — |
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 | -81.24% | -80.03% | -1.21% |
Average DrawdownAverage peak-to-trough decline | -36.47% | -86.43% | +49.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.65% | 56.96% | -0.31% |
Volatility
BTCL vs. MSTR - Volatility Comparison
The current volatility for T-REX 2X Long Bitcoin Daily Target ETF (BTCL) is 22.10%, while Strategy Inc (MSTR) has a volatility of 26.71%. This indicates that BTCL experiences smaller price fluctuations and is considered to be less risky 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 | 22.10% | 26.71% | -4.61% |
Volatility (6M)Calculated over the trailing 6-month period | 70.22% | 61.11% | +9.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.74% | 74.22% | +14.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 97.19% | 90.78% | +6.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.19% | 74.21% | +22.98% |
Dividends
BTCL vs. MSTR - Dividend Comparison
BTCL's dividend yield for the trailing twelve months is around 3.93%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTCL T-REX 2X Long Bitcoin Daily Target ETF | 3.93% | 1.70% | 4.35% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTCL and MSTR have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (26.71%) compared to BTCL (22.10%). In terms of maximum drawdown, BTCL dropped -84.01% vs MSTR's -99.86%.
BTCL currently has the higher Sharpe Ratio (-0.89 vs -1.05), 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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