IQM vs. MSTZ

Last updated Jul 15, 2026

IQM (Franklin Intelligent Machines ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - IQM is a Large Cap Growth Equities fund actively managed by Franklin Templeton, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, IQM returned 47.04% vs 266.72% for MSTZ. At a correlation of -0.46, they often move in opposite directions. IQM charges 0.50%/yr vs 1.05%/yr for MSTZ.

Performance

IQM vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Intelligent Machines ETF (IQM) 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, IQM achieves a 27.48% return, which is significantly higher than MSTZ's -31.90% return.

IQM

• 1D: 2.19%
• 1M: -4.67%
• 6M: 16.81%
• YTD: 27.48%
• 1Y: 47.04%
• 3Y*: 30.36%
• 5Y*: 18.79%
• 10Y*: —

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)

IQM vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQM Franklin Intelligent Machines ETF	27.48%	30.76%	10.12%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-31.90%	-38.95%	-94.43%

Correlation

The correlation between IQM and MSTZ is -0.44, 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	-0.44
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.46

Return for Risk

IQM vs. MSTZ — Risk / Return Rank

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

IQM

IQM Risk / Return Rank: 57
IQM Sharpe Ratio Rank: 50
IQM Sortino Ratio Rank: 44
IQM Omega Ratio Rank: 47
IQM Calmar Ratio Rank: 78
IQM Martin Ratio Rank: 64

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.

IQM vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Intelligent Machines ETF (IQM) 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.

	IQM	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.81	-0.41
Sortino ratio: Return per unit of downside risk	1.82	2.41	-0.58
Omega ratio: Gain probability vs. loss probability	1.25	1.31	-0.06
Calmar ratio: Return relative to maximum drawdown	3.21	3.16	+0.05
Martin ratio: Return relative to average drawdown	9.10	6.14	+2.96

IQM vs. MSTZ - Sharpe Ratio Comparison

The current IQM Sharpe Ratio is 1.40, which is comparable to the MSTZ Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of IQM 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

IQM vs. MSTZ - Drawdown Comparison

The maximum IQM drawdown since its inception was -44.91%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for IQM and MSTZ.

Drawdown Indicators

	IQM	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-44.91%	-99.38%	+54.47%
Max Drawdown (1Y) Largest decline over 1 year	-14.71%	-84.89%	+70.18%
Max Drawdown (3Y) Largest decline over 3 years	-30.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.91%	—	—
Current Drawdown Current decline from peak	-11.52%	-97.68%	+86.16%
Average Drawdown Average peak-to-trough decline	-12.15%	-94.54%	+82.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	43.66%	-38.48%

Volatility

IQM vs. MSTZ - Volatility Comparison

The current volatility for Franklin Intelligent Machines ETF (IQM) is 16.19%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 57.19%. This indicates that IQM 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

	IQM	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.19%	57.19%	-41.00%
Volatility (6M) Calculated over the trailing 6-month period	28.77%	135.18%	-106.41%
Volatility (1Y) Calculated over the trailing 1-year period	33.72%	148.74%	-115.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.10%	171.04%	-140.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.38%	171.04%	-139.66%

IQM vs. MSTZ - Expense Ratio Comparison

IQM has a 0.50% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

IQM vs. MSTZ - Dividend Comparison

Neither IQM nor MSTZ has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
IQM Franklin Intelligent Machines ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	0.01%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IQM and MSTZ in my portfolio?

IQM and MSTZ have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IQM or MSTZ?

MSTZ has higher volatility (57.19%) compared to IQM (16.19%). In terms of maximum drawdown, IQM dropped -44.91% vs MSTZ's -99.38%.

Which ETF is better, IQM or MSTZ?

On 1-year performance, MSTZ leads with 266.72% vs 47.04% for IQM. On fees, IQM is cheaper at 0.50% per year. On volatility, IQM has been the lower-risk option at 16.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQM or MSTZ?

Over the 1-year period, MSTZ has performed better with a 266.72% return vs 47.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQM or MSTZ?

IQM is cheaper with a 0.50% expense ratio, compared with 1.05% for MSTZ.

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

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

What is the main difference between IQM and MSTZ?

IQM is categorized as Large Cap Growth Equities, while MSTZ is Inverse Equities. They also come from different issuers: Franklin Templeton and REX. Their fees differ too: 0.50% for IQM and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.81 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.