BTCZ vs. CEPI

Last updated Jun 4, 2026

BTCZ (T-Rex 2X Inverse Bitcoin Daily Target ETF) and CEPI (REX Crypto Equity Premium Income ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BTCZ returned 55.67% vs 34.07% for CEPI. At a correlation of -0.68, they often move in opposite directions. BTCZ charges 0.95%/yr vs 0.85%/yr for CEPI.

Performance

BTCZ vs. CEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) and REX Crypto Equity Premium Income ETF (CEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCZ achieves a 32.54% return, which is significantly higher than CEPI's 20.71% return.

BTCZ

• 1D: 5.28%
• 1M: 46.26%
• YTD: 32.54%
• 6M: 46.67%
• 1Y: 55.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CEPI

• 1D: -1.35%
• 1M: 7.21%
• YTD: 20.71%
• 6M: 18.40%
• 1Y: 34.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCZ vs. CEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	32.54%	-29.11%	7.11%
CEPI REX Crypto Equity Premium Income ETF	20.71%	10.75%	-9.02%

Correlation

The correlation between BTCZ and CEPI is -0.70, 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	-0.70
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	-0.68

The correlation between BTCZ and CEPI has been stable across timeframes, ranging from -0.70 to -0.68 - a consistent structural relationship.

Return for Risk

BTCZ vs. CEPI — Risk / Return Rank

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

BTCZ

BTCZ Risk / Return Rank: 23
BTCZ Sharpe Ratio Rank: 19
BTCZ Sortino Ratio Rank: 26
BTCZ Omega Ratio Rank: 25
BTCZ Calmar Ratio Rank: 25
BTCZ Martin Ratio Rank: 19

CEPI

CEPI Risk / Return Rank: 32
CEPI Sharpe Ratio Rank: 35
CEPI Sortino Ratio Rank: 33
CEPI Omega Ratio Rank: 36
CEPI Calmar Ratio Rank: 31
CEPI Martin Ratio Rank: 26

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.

BTCZ vs. CEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) and REX Crypto Equity Premium Income ETF (CEPI). 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.

	BTCZ	CEPI	Difference
Sharpe ratio: Return per unit of total volatility	0.64	1.28	-0.64
Sortino ratio: Return per unit of downside risk	1.40	1.78	-0.38
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	1.14	1.52	-0.38
Martin ratio: Return relative to average drawdown	2.17	3.62	-1.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCZ vs. CEPI - Sharpe Ratio Comparison

The current BTCZ Sharpe Ratio is 0.64, which is lower than the CEPI Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of BTCZ and CEPI, 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

	BTCZ	CEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	1.28	-0.64
Sharpe Ratio (All Time) Calculated using the full available price history	-0.57	0.45	-1.02

Drawdowns

BTCZ vs. CEPI - Drawdown Comparison

The maximum BTCZ drawdown since its inception was -91.06%, which is greater than CEPI's maximum drawdown of -29.48%. Use the drawdown chart below to compare losses from any high point for BTCZ and CEPI.

Drawdown Indicators

	BTCZ	CEPI	Difference
Max Drawdown Largest peak-to-trough decline	-91.06%	-29.48%	-61.58%
Max Drawdown (1Y) Largest decline over 1 year	-49.02%	-22.47%	-26.55%
Current Drawdown Current decline from peak	-78.63%	-2.08%	-76.55%
Average Drawdown Average peak-to-trough decline	-73.72%	-8.65%	-65.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.74%	9.43%	+16.31%

Volatility

BTCZ vs. CEPI - Volatility Comparison

T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) has a higher volatility of 17.94% compared to REX Crypto Equity Premium Income ETF (CEPI) at 5.92%. This indicates that BTCZ's price experiences larger fluctuations and is considered to be riskier than CEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCZ	CEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.94%	5.92%	+12.02%
Volatility (6M) Calculated over the trailing 6-month period	68.50%	20.94%	+47.56%
Volatility (1Y) Calculated over the trailing 1-year period	87.46%	26.79%	+60.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.12%	31.57%	+65.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.12%	31.57%	+65.55%

BTCZ vs. CEPI - Expense Ratio Comparison

BTCZ has a 0.95% expense ratio, which is higher than CEPI's 0.85% expense ratio.

Dividends

BTCZ vs. CEPI - Dividend Comparison

BTCZ's dividend yield for the trailing twelve months is around 0.01%, less than CEPI's 42.71% yield.

Position	TTM	2025	2024
BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF	0.01%	0.02%	0.08%
CEPI REX Crypto Equity Premium Income ETF	42.71%	50.78%	0.00%

Frequently Asked Questions

Can I hold both BTCZ and CEPI in my portfolio?

BTCZ and CEPI have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTCZ or CEPI?

BTCZ has higher volatility (17.94%) compared to CEPI (5.92%). In terms of maximum drawdown, BTCZ dropped -91.06% vs CEPI's -29.48%.

Which ETF is better, BTCZ or CEPI?

On 1-year performance, BTCZ leads with 55.67% vs 34.07% for CEPI. On fees, CEPI is cheaper at 0.85% per year. On volatility, CEPI has been the lower-risk option at 5.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCZ or CEPI?

Over the 1-year period, BTCZ has performed better with a 55.67% return vs 34.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCZ or CEPI?

CEPI is cheaper with a 0.85% expense ratio, compared with 0.95% for BTCZ.

Which ETF pays a higher dividend yield, BTCZ or CEPI?

CEPI has the higher dividend yield at 42.71%, compared with 0.01% for BTCZ.

What is the main difference between BTCZ and CEPI?

They also come from different issuers: T-Rex and REX. Their fees differ too: 0.95% for BTCZ and 0.85% for CEPI.

Which has better risk-adjusted returns?

CEPI currently has the higher Sharpe Ratio (1.28 vs 0.64), 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.