CARU vs. MSTZ

Last updated Jun 26, 2026

CARU (Max Auto Industry 3X Leveraged ETN) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - CARU is a Leveraged Equities fund tracking the Prime Auto Industry Index - Benchmark TR Net (--300%), while MSTZ is a Inverse Equities fund actively managed by REX. CARU is passively managed, while MSTZ is actively managed. Over the past year, CARU returned -16.37% vs 279.21% for MSTZ. At a correlation of -0.44, they often move in opposite directions. CARU charges 0.95%/yr vs 1.05%/yr for MSTZ.

Performance

CARU vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Max Auto Industry 3X Leveraged ETN (CARU) 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, CARU achieves a -31.25% return, which is significantly lower than MSTZ's 1.05% return.

CARU

• 1D: -0.50%
• 1M: -8.37%
• YTD: -31.25%
• 6M: -38.91%
• 1Y: -16.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: 19.27%
• 1M: 186.45%
• YTD: 1.05%
• 6M: 9.89%
• 1Y: 279.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CARU vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CARU Max Auto Industry 3X Leveraged ETN	-31.25%	7.29%	29.15%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	1.05%	-38.95%	-94.43%

Correlation

The correlation between CARU and MSTZ is -0.41, 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	-0.41
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.44

Return for Risk

CARU vs. MSTZ — Risk / Return Rank

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

CARU

CARU Risk / Return Rank: 7
CARU Sharpe Ratio Rank: 7
CARU Sortino Ratio Rank: 9
CARU Omega Ratio Rank: 9
CARU Calmar Ratio Rank: 7
CARU Martin Ratio Rank: 6

MSTZ

MSTZ Risk / Return Rank: 62
MSTZ Sharpe Ratio Rank: 69
MSTZ Sortino Ratio Rank: 60
MSTZ Omega Ratio Rank: 59
MSTZ Calmar Ratio Rank: 74
MSTZ Martin Ratio Rank: 45

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.

CARU vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) 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.

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.

	CARU	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	1.93	-2.17
Sortino ratio: Return per unit of downside risk	0.13	2.48	-2.35
Omega ratio: Gain probability vs. loss probability	1.02	1.32	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.32	3.31	-3.64
Martin ratio: Return relative to average drawdown	-0.64	6.57	-7.21

CARU vs. MSTZ - Sharpe Ratio Comparison

The current CARU Sharpe Ratio is -0.24, which is lower than the MSTZ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of CARU 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.

Drawdowns

CARU vs. MSTZ - Drawdown Comparison

The maximum CARU drawdown since its inception was -66.44%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for CARU and MSTZ.

Drawdown Indicators

	CARU	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-66.44%	-99.38%	+32.94%
Max Drawdown (1Y) Largest decline over 1 year	-50.87%	-84.89%	+34.02%
Current Drawdown Current decline from peak	-45.71%	-96.56%	+50.85%
Average Drawdown Average peak-to-trough decline	-35.99%	-94.46%	+58.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.77%	42.70%	-16.93%

Volatility

CARU vs. MSTZ - Volatility Comparison

The current volatility for Max Auto Industry 3X Leveraged ETN (CARU) is 23.23%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 46.08%. This indicates that CARU 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

	CARU	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.23%	46.08%	-22.85%
Volatility (6M) Calculated over the trailing 6-month period	52.56%	129.73%	-77.17%
Volatility (1Y) Calculated over the trailing 1-year period	69.88%	145.84%	-75.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.32%	170.65%	-90.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.32%	170.65%	-90.33%

CARU vs. MSTZ - Expense Ratio Comparison

CARU has a 0.95% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

CARU vs. MSTZ - Dividend Comparison

Neither CARU nor MSTZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CARU and MSTZ in my portfolio?

CARU and MSTZ have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CARU or MSTZ?

MSTZ has higher volatility (46.08%) compared to CARU (23.23%). In terms of maximum drawdown, CARU dropped -66.44% vs MSTZ's -99.38%.

Which ETF is better, CARU or MSTZ?

On 1-year performance, MSTZ leads with 279.21% vs -16.37% for CARU. On fees, CARU is cheaper at 0.95% per year. On volatility, CARU has been the lower-risk option at 23.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CARU or MSTZ?

Over the 1-year period, MSTZ has performed better with a 279.21% return vs -16.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CARU or MSTZ?

CARU is cheaper with a 0.95% expense ratio, compared with 1.05% for MSTZ.

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

CARU and MSTZ have nearly identical dividend yields, around 0.00%.

What is the main difference between CARU and MSTZ?

CARU is categorized as Leveraged Equities, while MSTZ is Inverse Equities. They also come from different issuers: Max and REX. Their fees differ too: 0.95% for CARU and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.93 vs -0.24), 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.