DIVP vs. MSTZ

Last updated Jun 26, 2026

DIVP (Cullen Enhanced Equity Income ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - DIVP is a Derivative Income fund actively managed by Cullen, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, DIVP returned 14.17% vs 279.21% for MSTZ. At a correlation of -0.17, they often move in opposite directions. DIVP charges 0.55%/yr vs 1.05%/yr for MSTZ.

Performance

DIVP vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cullen Enhanced Equity Income ETF (DIVP) 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, DIVP achieves a 9.77% return, which is significantly higher than MSTZ's 1.05% return.

DIVP

• 1D: 0.91%
• 1M: 1.31%
• YTD: 9.77%
• 6M: 9.02%
• 1Y: 14.17%
• 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)

DIVP vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIVP Cullen Enhanced Equity Income ETF	9.77%	7.76%	-3.33%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	1.05%	-38.95%	-94.43%

Correlation

The correlation between DIVP and MSTZ is -0.18, 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	-0.18
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.17

Return for Risk

DIVP vs. MSTZ — Risk / Return Rank

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

DIVP

DIVP Risk / Return Rank: 44
DIVP Sharpe Ratio Rank: 43
DIVP Sortino Ratio Rank: 46
DIVP Omega Ratio Rank: 39
DIVP Calmar Ratio Rank: 52
DIVP Martin Ratio Rank: 39

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.

DIVP vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cullen Enhanced Equity Income ETF (DIVP) 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.

	DIVP	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.93	-0.53
Sortino ratio: Return per unit of downside risk	2.06	2.48	-0.41
Omega ratio: Gain probability vs. loss probability	1.24	1.32	-0.08
Calmar ratio: Return relative to maximum drawdown	2.27	3.31	-1.05
Martin ratio: Return relative to average drawdown	5.51	6.57	-1.07

DIVP vs. MSTZ - Sharpe Ratio Comparison

The current DIVP Sharpe Ratio is 1.40, which is comparable to the MSTZ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of DIVP 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

DIVP vs. MSTZ - Drawdown Comparison

The maximum DIVP drawdown since its inception was -12.26%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for DIVP and MSTZ.

Drawdown Indicators

	DIVP	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-12.26%	-99.38%	+87.12%
Max Drawdown (1Y) Largest decline over 1 year	-6.28%	-84.89%	+78.61%
Current Drawdown Current decline from peak	-0.09%	-96.56%	+96.47%
Average Drawdown Average peak-to-trough decline	-2.39%	-94.46%	+92.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	42.70%	-40.12%

Volatility

DIVP vs. MSTZ - Volatility Comparison

The current volatility for Cullen Enhanced Equity Income ETF (DIVP) is 2.92%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 46.08%. This indicates that DIVP 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

	DIVP	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	46.08%	-43.16%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	129.73%	-122.61%
Volatility (1Y) Calculated over the trailing 1-year period	10.21%	145.84%	-135.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.75%	170.65%	-158.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.75%	170.65%	-158.90%

DIVP vs. MSTZ - Expense Ratio Comparison

DIVP has a 0.55% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

DIVP vs. MSTZ - Dividend Comparison

DIVP's dividend yield for the trailing twelve months is around 5.60%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024
DIVP Cullen Enhanced Equity Income ETF	5.60%	6.06%	5.92%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVP and MSTZ in my portfolio?

DIVP and MSTZ have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVP or MSTZ?

MSTZ has higher volatility (46.08%) compared to DIVP (2.92%). In terms of maximum drawdown, DIVP dropped -12.26% vs MSTZ's -99.38%.

Which ETF is better, DIVP or MSTZ?

On 1-year performance, MSTZ leads with 279.21% vs 14.17% for DIVP. On fees, DIVP is cheaper at 0.55% per year. On volatility, DIVP has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVP or MSTZ?

Over the 1-year period, MSTZ has performed better with a 279.21% return vs 14.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVP or MSTZ?

DIVP is cheaper with a 0.55% expense ratio, compared with 1.05% for MSTZ.

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

DIVP has the higher dividend yield at 5.60%, compared with 0.00% for MSTZ.

What is the main difference between DIVP and MSTZ?

DIVP is categorized as Derivative Income, while MSTZ is Inverse Equities. They also come from different issuers: Cullen and REX. Their fees differ too: 0.55% for DIVP and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.93 vs 1.40), 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.