CWEB vs. MSTZ
CWEB (Direxion Daily CSI China Internet Index Bull 2x Shares) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - CWEB is a China Equities fund tracking the CSI China Overseas Internet Index (200%), while MSTZ is a Inverse Equities fund actively managed by REX. CWEB is passively managed, while MSTZ is actively managed. Over the past year, CWEB returned -33.46% vs 159.07% for MSTZ. Their -0.30 correlation means they have often moved in opposite directions in the past. CWEB charges 1.30%/yr vs 1.05%/yr for MSTZ.
Performance
CWEB vs. MSTZ - Performance Comparison
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Returns By Period
In the year-to-date period, CWEB achieves a -36.03% return, which is significantly lower than MSTZ's -30.44% return.
CWEB
- 1D
- 3.09%
- 1M
- 28.79%
- 6M
- -39.78%
- YTD
- -36.03%
- 1Y
- -33.46%
- 3Y*
- -15.58%
- 5Y*
- -34.28%
- 10Y*
- —
- ALL TIME*
- -19.66%
MSTZ
- 1D
- 8.95%
- 1M
- 7.38%
- 6M
- -24.16%
- YTD
- -30.44%
- 1Y
- 159.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -86.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.22M | $13.80M | $17.15M | |
| $101.73M | $133.33M | $177.41M |
CWEB vs. MSTZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | -36.03% | 29.04% | 22.70% |
MSTZ T-REX 2X Inverse MSTR Daily Target ETF | -30.44% | -38.95% | -94.43% |
Correlation
The correlation between CWEB and MSTZ is -0.37, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.37 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024 | -0.30 |
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Return for Risk
CWEB vs. MSTZ — Risk / Return Rank
CWEB
MSTZ
CWEB vs. MSTZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) 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.
| CWEB | MSTZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.28 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 2.44 | -2.98 |
| Martin ratioReturn relative to average drawdown | -0.92 | 4.53 | -5.45 |
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Drawdowns
CWEB vs. MSTZ - Drawdown Comparison
The maximum CWEB drawdown since its inception was -98.18%, roughly equal to the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for CWEB and MSTZ.
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Drawdown Indicators
| CWEB | MSTZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.18% | -99.38% | +1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -69.36% | -84.89% | +15.53% |
Max Drawdown (3Y)Largest decline over 3 years | -69.36% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -92.51% | — | — |
Current DrawdownCurrent decline from peak | -97.39% | -97.63% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -66.00% | -94.63% | +28.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.38% | 45.62% | -5.24% |
Volatility
CWEB vs. MSTZ - Volatility Comparison
The current volatility for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) is 15.76%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.86%. This indicates that CWEB 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.
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Volatility by Period
| CWEB | MSTZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.76% | 37.86% | -22.10% |
Volatility (6M)Calculated over the trailing 6-month period | 41.53% | 134.52% | -92.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 150.23% | -94.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 93.18% | 169.87% | -76.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.32% | 169.87% | -89.55% |
CWEB vs. MSTZ - Expense Ratio Comparison
CWEB has a 1.30% expense ratio, which is higher than MSTZ's 1.05% expense ratio.
Dividends
CWEB vs. MSTZ - Dividend Comparison
CWEB's dividend yield for the trailing twelve months is around 5.68%, while MSTZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 5.68% | 2.77% | 4.59% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% |
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% |
Frequently Asked Questions
CWEB and MSTZ have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTZ has higher volatility (37.86%) compared to CWEB (15.76%). In terms of maximum drawdown, CWEB dropped -98.18% vs MSTZ's -99.38%.
On 1-year performance, MSTZ leads with 159.07% vs -33.46% for CWEB. On fees, MSTZ is cheaper at 1.05% per year. On volatility, CWEB has been the lower-risk option at 15.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MSTZ has performed better with a 159.07% return vs -33.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MSTZ is cheaper with a 1.05% expense ratio, compared with 1.30% for CWEB.
CWEB has the higher dividend yield at 5.68%, compared with 0.00% for MSTZ.
CWEB is categorized as China Equities, while MSTZ is Inverse Equities. They also come from different issuers: Direxion and REX. Their fees differ too: 1.30% for CWEB and 1.05% for MSTZ.
MSTZ currently has the higher Sharpe Ratio (1.38 vs -0.67), 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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