CEPI vs. MSTR

Last updated Apr 1, 2026

Compare and contrast key facts about REX Crypto Equity Premium Income ETF (CEPI) and MicroStrategy Incorporated (MSTR).

CEPI is an actively managed fund by REX. It was launched on Dec 4, 2024.

Performance

CEPI vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX Crypto Equity Premium Income ETF (CEPI) and MicroStrategy Incorporated (MSTR). The values are adjusted to include any dividend payments, if applicable.

CEPI vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CEPI REX Crypto Equity Premium Income ETF	-5.89%	10.75%	-9.02%
MSTR MicroStrategy Incorporated	-17.87%	-47.53%	-28.67%

Returns By Period

In the year-to-date period, CEPI achieves a -5.89% return, which is significantly higher than MSTR's -17.87% return.

CEPI

• 1D: 4.15%
• 1M: -4.68%
• YTD: -5.89%
• 6M: -13.56%
• 1Y: 18.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTR

• 1D: 2.77%
• 1M: -3.63%
• YTD: -17.87%
• 6M: -61.27%
• 1Y: -56.71%
• 3Y*: 62.23%
• 5Y*: 12.15%
• 10Y*: 21.18%

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

Return for Risk

CEPI vs. MSTR — Risk / Return Rank

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

CEPI

CEPI Risk / Return Rank: 33
CEPI Sharpe Ratio Rank: 33
CEPI Sortino Ratio Rank: 37
CEPI Omega Ratio Rank: 35
CEPI Calmar Ratio Rank: 33
CEPI Martin Ratio Rank: 26

MSTR

MSTR Risk / Return Rank: 13
MSTR Sharpe Ratio Rank: 10
MSTR Sortino Ratio Rank: 10
MSTR Omega Ratio Rank: 12
MSTR Calmar Ratio Rank: 16
MSTR Martin Ratio Rank: 17

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.

CEPI vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX Crypto Equity Premium Income ETF (CEPI) and MicroStrategy Incorporated (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.

	CEPI	MSTR	Difference
Sharpe ratio Return per unit of total volatility	0.59	-0.77	+1.36
Sortino ratio Return per unit of downside risk	1.01	-1.12	+2.14
Omega ratio Gain probability vs. loss probability	1.14	0.87	+0.26
Calmar ratio Return relative to maximum drawdown	0.78	-0.74	+1.52
Martin ratio Return relative to average drawdown	1.91	-1.29	+3.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEPI vs. MSTR - Sharpe Ratio Comparison

The current CEPI Sharpe Ratio is 0.59, which is higher than the MSTR Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of CEPI and MSTR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CEPI	MSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	-0.77	+1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	0.12	-0.25

Correlation

The correlation between CEPI and MSTR is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CEPI vs. MSTR - Dividend Comparison

CEPI's dividend yield for the trailing twelve months is around 55.46%, while MSTR has not paid dividends to shareholders.

	TTM	2025
CEPI REX Crypto Equity Premium Income ETF	55.46%	50.78%
MSTR MicroStrategy Incorporated	0.00%	0.00%

Drawdowns

CEPI vs. MSTR - Drawdown Comparison

The maximum CEPI drawdown since its inception was -29.48%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for CEPI and MSTR.

Drawdown Indicators

	CEPI	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-29.48%	-99.86%	+70.38%
Max Drawdown (1Y) Largest decline over 1 year	-22.47%	-76.53%	+54.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-84.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.27%	—
Current Drawdown Current decline from peak	-19.25%	-73.66%	+54.41%
Average Drawdown Average peak-to-trough decline	-9.10%	-86.60%	+77.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.13%	43.98%	-34.85%

Volatility

CEPI vs. MSTR - Volatility Comparison

The current volatility for REX Crypto Equity Premium Income ETF (CEPI) is 11.14%, while MicroStrategy Incorporated (MSTR) has a volatility of 18.69%. This indicates that CEPI 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.

Volatility by Period

	CEPI	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.14%	18.69%	-7.55%
Volatility (6M) Calculated over the trailing 6-month period	23.12%	55.56%	-32.44%
Volatility (1Y) Calculated over the trailing 1-year period	31.01%	74.10%	-43.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.66%	91.30%	-58.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.66%	73.16%	-40.50%