DON vs. MSTZ

Last updated Jul 15, 2026

DON (WisdomTree US MidCap Dividend ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - DON is a Mid Cap Value Equities fund tracking the WisdomTree U.S. MidCap Dividend Index, while MSTZ is a Inverse Equities fund actively managed by REX. DON is passively managed, while MSTZ is actively managed. Over the past year, DON returned 12.99% vs 266.72% for MSTZ. At a correlation of -0.29, they often move in opposite directions. DON charges 0.38%/yr vs 1.05%/yr for MSTZ.

Performance

DON vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree US MidCap Dividend ETF (DON) 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, DON achieves a 10.91% return, which is significantly higher than MSTZ's -31.90% return.

DON

• 1D: 0.21%
• 1M: 0.26%
• 6M: 7.07%
• YTD: 10.91%
• 1Y: 12.99%
• 3Y*: 12.49%
• 5Y*: 9.12%
• 10Y*: 9.10%

MSTZ

• 1D: -11.25%
• 1M: 29.92%
• 6M: -7.52%
• YTD: -31.90%
• 1Y: 266.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DON vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DON WisdomTree US MidCap Dividend ETF	10.91%	3.86%	2.38%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-31.90%	-38.95%	-94.43%

Correlation

The correlation between DON and MSTZ is -0.26, 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	-0.26
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.29

Return for Risk

DON vs. MSTZ — Risk / Return Rank

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

DON

DON Risk / Return Rank: 35
DON Sharpe Ratio Rank: 34
DON Sortino Ratio Rank: 36
DON Omega Ratio Rank: 32
DON Calmar Ratio Rank: 35
DON Martin Ratio Rank: 36

MSTZ

MSTZ Risk / Return Rank: 65
MSTZ Sharpe Ratio Rank: 71
MSTZ Sortino Ratio Rank: 65
MSTZ Omega Ratio Rank: 66
MSTZ Calmar Ratio Rank: 77
MSTZ Martin Ratio Rank: 46

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.

DON vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US MidCap Dividend ETF (DON) 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.

	DON	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.81	-0.79
Sortino ratio: Return per unit of downside risk	1.58	2.41	-0.83
Omega ratio: Gain probability vs. loss probability	1.18	1.31	-0.13
Calmar ratio: Return relative to maximum drawdown	1.44	3.16	-1.72
Martin ratio: Return relative to average drawdown	4.50	6.14	-1.64

DON vs. MSTZ - Sharpe Ratio Comparison

The current DON Sharpe Ratio is 1.02, which is lower than the MSTZ Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of DON 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

DON vs. MSTZ - Drawdown Comparison

The maximum DON drawdown since its inception was -61.94%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for DON and MSTZ.

Drawdown Indicators

	DON	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-99.38%	+37.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-84.89%	+75.84%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	—	—
Current Drawdown Current decline from peak	-0.28%	-97.68%	+97.40%
Average Drawdown Average peak-to-trough decline	-7.86%	-94.54%	+86.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	43.66%	-40.76%

Volatility

DON vs. MSTZ - Volatility Comparison

The current volatility for WisdomTree US MidCap Dividend ETF (DON) is 2.81%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 57.19%. This indicates that DON 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

	DON	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	57.19%	-54.38%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	135.18%	-126.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	148.74%	-135.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.62%	171.04%	-153.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	171.04%	-150.83%

DON vs. MSTZ - Expense Ratio Comparison

DON has a 0.38% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

DON vs. MSTZ - Dividend Comparison

DON's dividend yield for the trailing twelve months is around 2.25%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DON WisdomTree US MidCap Dividend ETF	2.25%	2.53%	2.27%	2.41%	2.71%	2.12%	2.77%	2.38%	2.55%	2.25%	2.48%	2.89%
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 DON and MSTZ in my portfolio?

DON and MSTZ have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DON or MSTZ?

MSTZ has higher volatility (57.19%) compared to DON (2.81%). In terms of maximum drawdown, DON dropped -61.94% vs MSTZ's -99.38%.

Which ETF is better, DON or MSTZ?

On 1-year performance, MSTZ leads with 266.72% vs 12.99% for DON. On fees, DON is cheaper at 0.38% per year. On volatility, DON has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DON or MSTZ?

Over the 1-year period, MSTZ has performed better with a 266.72% return vs 12.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DON or MSTZ?

DON is cheaper with a 0.38% expense ratio, compared with 1.05% for MSTZ.

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

DON has the higher dividend yield at 2.25%, compared with 0.00% for MSTZ.

What is the main difference between DON and MSTZ?

DON is categorized as Mid Cap Value Equities, while MSTZ is Inverse Equities. They also come from different issuers: WisdomTree and REX. Their fees differ too: 0.38% for DON and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.81 vs 1.01), 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.