FLYU vs. MSTZ

Last updated Aug 2, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - FLYU is a Leveraged Equities fund tracking the MerQube MicroSectors U.S. Travel Index, while MSTZ is a Inverse Equities fund actively managed by REX. FLYU is passively managed, while MSTZ is actively managed. Over the past year, FLYU returned -4.05% vs 159.07% for MSTZ. Their -0.35 correlation means they have often moved in opposite directions in the past. FLYU charges 0.95%/yr vs 1.05%/yr for MSTZ.

Performance

FLYU vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) 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, FLYU achieves a -14.35% return, which is significantly higher than MSTZ's -30.44% return.

FLYU

• 1D: -2.10%
• 1M: -9.79%
• 6M: -1.73%
• YTD: -14.35%
• 1Y: -4.05%
• 3Y*: 0.98%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.94%

MSTZ

• 1D: 8.95%
• 1M: 7.38%
• 6M: -24.16%
• YTD: -30.44%
• 1Y: 159.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -86.57%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLYU MicroSectors Travel 3X Leveraged ETNs	$41.17K	$39.32K	$61.70K
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	$101.73M	$133.33M	$177.41M

FLYU vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLYU MicroSectors Travel 3X Leveraged ETNs	-14.35%	-2.29%	50.09%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-30.44%	-38.95%	-94.43%

Correlation

The correlation between FLYU and MSTZ is -0.29, 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.	-0.29
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.35

Return for Risk

FLYU vs. MSTZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLYU

FLYU Risk / Return Rank: 10
FLYU Sharpe Ratio Rank: 9
FLYU Sortino Ratio Rank: 14
FLYU Omega Ratio Rank: 13
FLYU Calmar Ratio Rank: 8
FLYU Martin Ratio Rank: 8

MSTZ

MSTZ Risk / Return Rank: 61
MSTZ Sharpe Ratio Rank: 58
MSTZ Sortino Ratio Rank: 68
MSTZ Omega Ratio Rank: 68
MSTZ Calmar Ratio Rank: 70
MSTZ Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLYU vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) 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.

	FLYU	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	1.38	-1.52
Sortino ratio: Return per unit of downside risk	0.34	2.22	-1.87
Omega ratio: Gain probability vs. loss probability	1.04	1.28	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.21	2.44	-2.65
Martin ratio: Return relative to average drawdown	-0.41	4.53	-4.94

FLYU vs. MSTZ - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is -0.14, which is lower than the MSTZ Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of FLYU 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

FLYU vs. MSTZ - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for FLYU and MSTZ.

Drawdown Indicators

	FLYU	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-99.38%	+30.38%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-84.89%	+32.56%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	—	—
Current Drawdown Current decline from peak	-32.06%	-97.63%	+65.57%
Average Drawdown Average peak-to-trough decline	-26.65%	-94.63%	+67.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.23%	45.62%	-19.39%

Volatility

FLYU vs. MSTZ - Volatility Comparison

The current volatility for MicroSectors Travel 3X Leveraged ETNs (FLYU) is 21.04%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.86%. This indicates that FLYU 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

	FLYU	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.04%	37.86%	-16.82%
Volatility (6M) Calculated over the trailing 6-month period	61.81%	134.52%	-72.71%
Volatility (1Y) Calculated over the trailing 1-year period	76.03%	150.23%	-74.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.98%	169.87%	-86.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.98%	169.87%	-86.89%

FLYU vs. MSTZ - Expense Ratio Comparison

FLYU has a 0.95% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

FLYU vs. MSTZ - Dividend Comparison

Neither FLYU nor MSTZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLYU and MSTZ in my portfolio?

FLYU and MSTZ have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or MSTZ?

MSTZ has higher volatility (37.86%) compared to FLYU (21.04%). In terms of maximum drawdown, FLYU dropped -69.00% vs MSTZ's -99.38%.

Which ETF is better, FLYU or MSTZ?

On 1-year performance, MSTZ leads with 159.07% vs -4.05% for FLYU. On fees, FLYU is cheaper at 0.95% per year. On volatility, FLYU has been the lower-risk option at 21.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or MSTZ?

Over the 1-year period, MSTZ has performed better with a 159.07% return vs -4.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or MSTZ?

FLYU is cheaper with a 0.95% expense ratio, compared with 1.05% for MSTZ.

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

FLYU and MSTZ have nearly identical dividend yields, around 0.00%.

What is the main difference between FLYU and MSTZ?

FLYU is categorized as Leveraged Equities, while MSTZ is Inverse Equities. Their fees differ too: 0.95% for FLYU and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.38 vs -0.14), 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.