DIA vs. MSTZ

Last updated Jun 28, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while MSTZ is a Inverse Equities fund actively managed by REX. DIA is passively managed, while MSTZ is actively managed. Over the past year, DIA returned 20.00% vs 297.86% for MSTZ. At a correlation of -0.33, they often move in opposite directions. DIA charges 0.16%/yr vs 1.05%/yr for MSTZ.

Performance

DIA vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DIA having a 8.54% return and MSTZ slightly lower at 8.34%.

DIA

• 1D: -0.29%
• 1M: 2.39%
• YTD: 8.54%
• 6M: 7.10%
• 1Y: 20.00%
• 3Y*: 17.05%
• 5Y*: 10.41%
• 10Y*: 13.70%

MSTZ

• 1D: 7.21%
• 1M: 177.31%
• YTD: 8.34%
• 6M: 18.04%
• 1Y: 297.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIA vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	8.54%	14.71%	2.67%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	8.34%	-38.95%	-94.43%

Correlation

The correlation between DIA and MSTZ is -0.35, 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	-0.35
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.33

Return for Risk

DIA vs. MSTZ — Risk / Return Rank

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

DIA

DIA Risk / Return Rank: 55
DIA Sharpe Ratio Rank: 58
DIA Sortino Ratio Rank: 61
DIA Omega Ratio Rank: 54
DIA Calmar Ratio Rank: 49
DIA Martin Ratio Rank: 54

MSTZ

MSTZ Risk / Return Rank: 65
MSTZ Sharpe Ratio Rank: 76
MSTZ Sortino Ratio Rank: 62
MSTZ Omega Ratio Rank: 61
MSTZ Calmar Ratio Rank: 79
MSTZ Martin Ratio Rank: 48

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.

DIA vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) 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.

	DIA	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.09	-0.37
Sortino ratio: Return per unit of downside risk	2.52	2.54	-0.02
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	2.17	3.59	-1.42
Martin ratio: Return relative to average drawdown	8.40	7.12	+1.28

DIA vs. MSTZ - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.72, which is comparable to the MSTZ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of DIA 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

DIA vs. MSTZ - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for DIA and MSTZ.

Drawdown Indicators

	DIA	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-51.87%	-99.38%	+47.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-84.89%	+75.13%
Max Drawdown (3Y) Largest decline over 3 years	-15.95%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.70%	—	—
Current Drawdown Current decline from peak	-0.44%	-96.31%	+95.87%
Average Drawdown Average peak-to-trough decline	-7.13%	-94.47%	+87.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	42.75%	-40.23%

Volatility

DIA vs. MSTZ - Volatility Comparison

The current volatility for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) is 4.13%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 46.07%. This indicates that DIA 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

	DIA	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	46.07%	-41.94%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	129.69%	-119.93%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	145.81%	-133.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	170.55%	-155.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.52%	170.55%	-153.03%

DIA vs. MSTZ - Expense Ratio Comparison

DIA has a 0.16% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

DIA vs. MSTZ - Dividend Comparison

DIA's dividend yield for the trailing twelve months is around 1.39%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.39%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
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 DIA and MSTZ in my portfolio?

DIA and MSTZ have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIA or MSTZ?

MSTZ has higher volatility (46.07%) compared to DIA (4.13%). In terms of maximum drawdown, DIA dropped -51.87% vs MSTZ's -99.38%.

Which ETF is better, DIA or MSTZ?

On 1-year performance, MSTZ leads with 297.86% vs 20.00% for DIA. On fees, DIA is cheaper at 0.16% per year. On volatility, DIA has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIA or MSTZ?

Over the 1-year period, MSTZ has performed better with a 297.86% return vs 20.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIA or MSTZ?

DIA is cheaper with a 0.16% expense ratio, compared with 1.05% for MSTZ.

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

DIA has the higher dividend yield at 1.39%, compared with 0.00% for MSTZ.

What is the main difference between DIA and MSTZ?

DIA is categorized as Large Cap Blend Equities, while MSTZ is Inverse Equities. They also come from different issuers: State Street and REX. Their fees differ too: 0.16% for DIA and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (2.09 vs 1.72), 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.