CSM vs. MSTZ

Last updated Jul 12, 2026

CSM (Proshares Large Cap Core Plus) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - CSM is a Long-Short fund tracking the Credit Suisse 130/30 Large-Cap Index, while MSTZ is a Inverse Equities fund actively managed by REX. CSM is passively managed, while MSTZ is actively managed. Over the past year, CSM returned 23.29% vs 264.10% for MSTZ. At a correlation of -0.43, they often move in opposite directions. CSM charges 0.45%/yr vs 1.05%/yr for MSTZ.

Performance

CSM vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Large Cap Core Plus (CSM) 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, CSM achieves a 9.22% return, which is significantly higher than MSTZ's -26.97% return.

CSM

• 1D: 0.69%
• 1M: 1.99%
• 6M: 7.84%
• YTD: 9.22%
• 1Y: 23.29%
• 3Y*: 20.40%
• 5Y*: 12.71%
• 10Y*: 14.09%

MSTZ

• 1D: -1.53%
• 1M: 39.32%
• 6M: -19.19%
• YTD: -26.97%
• 1Y: 264.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CSM vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CSM Proshares Large Cap Core Plus	9.22%	21.84%	4.03%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-26.97%	-38.95%	-94.43%

Correlation

The correlation between CSM and MSTZ is -0.46, 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	-0.46
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.43

Return for Risk

CSM vs. MSTZ — Risk / Return Rank

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

CSM

CSM Risk / Return Rank: 69
CSM Sharpe Ratio Rank: 73
CSM Sortino Ratio Rank: 72
CSM Omega Ratio Rank: 69
CSM Calmar Ratio Rank: 62
CSM Martin Ratio Rank: 69

MSTZ

MSTZ Risk / Return Rank: 60
MSTZ Sharpe Ratio Rank: 61
MSTZ Sortino Ratio Rank: 62
MSTZ Omega Ratio Rank: 63
MSTZ Calmar Ratio Rank: 71
MSTZ Martin Ratio Rank: 43

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.

CSM vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Large Cap Core Plus (CSM) 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.

	CSM	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.64	+0.22
Sortino ratio: Return per unit of downside risk	2.58	2.34	+0.24
Omega ratio: Gain probability vs. loss probability	1.33	1.30	+0.02
Calmar ratio: Return relative to maximum drawdown	2.44	2.86	-0.42
Martin ratio: Return relative to average drawdown	9.95	5.59	+4.37

CSM vs. MSTZ - Sharpe Ratio Comparison

The current CSM Sharpe Ratio is 1.86, which is comparable to the MSTZ Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of CSM 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

CSM vs. MSTZ - Drawdown Comparison

The maximum CSM drawdown since its inception was -36.11%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for CSM and MSTZ.

Drawdown Indicators

	CSM	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-36.11%	-99.38%	+63.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.40%	-84.89%	+75.49%
Max Drawdown (3Y) Largest decline over 3 years	-18.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.11%	—	—
Current Drawdown Current decline from peak	-0.63%	-97.51%	+96.88%
Average Drawdown Average peak-to-trough decline	-4.03%	-94.53%	+90.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	43.41%	-41.11%

Volatility

CSM vs. MSTZ - Volatility Comparison

The current volatility for Proshares Large Cap Core Plus (CSM) is 3.99%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 56.46%. This indicates that CSM 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

	CSM	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	56.46%	-52.47%
Volatility (6M) Calculated over the trailing 6-month period	9.53%	135.20%	-125.67%
Volatility (1Y) Calculated over the trailing 1-year period	12.34%	148.41%	-136.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	171.17%	-153.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.35%	171.17%	-152.82%

CSM vs. MSTZ - Expense Ratio Comparison

CSM has a 0.45% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

CSM vs. MSTZ - Dividend Comparison

CSM's dividend yield for the trailing twelve months is around 1.03%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSM Proshares Large Cap Core Plus	1.03%	1.04%	1.06%	1.17%	1.37%	0.78%	1.21%	1.41%	1.54%	1.28%	1.49%	1.67%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSM and MSTZ in my portfolio?

CSM and MSTZ have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSM or MSTZ?

MSTZ has higher volatility (56.46%) compared to CSM (3.99%). In terms of maximum drawdown, CSM dropped -36.11% vs MSTZ's -99.38%.

Which ETF is better, CSM or MSTZ?

On 1-year performance, MSTZ leads with 264.10% vs 23.29% for CSM. On fees, CSM is cheaper at 0.45% per year. On volatility, CSM has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSM or MSTZ?

Over the 1-year period, MSTZ has performed better with a 264.10% return vs 23.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSM or MSTZ?

CSM is cheaper with a 0.45% expense ratio, compared with 1.05% for MSTZ.

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

CSM has the higher dividend yield at 1.03%, compared with 0.00% for MSTZ.

What is the main difference between CSM and MSTZ?

CSM is categorized as Long-Short, while MSTZ is Inverse Equities. They also come from different issuers: ProShares and REX. Their fees differ too: 0.45% for CSM and 1.05% for MSTZ.

Which has better risk-adjusted returns?

CSM currently has the higher Sharpe Ratio (1.86 vs 1.64), 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.