KURE vs. MSTZ

Last updated Jul 12, 2026

KURE (KraneShares MSCI All China Health Care Index ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - KURE is a China Equities fund tracking the MSCI China All Shares Health Care 10/40 Index, while MSTZ is a Inverse Equities fund actively managed by REX. KURE is passively managed, while MSTZ is actively managed. Over the past year, KURE returned 1.18% vs 264.10% for MSTZ. At a correlation of -0.25, they often move in opposite directions. KURE charges 0.65%/yr vs 1.05%/yr for MSTZ.

Performance

KURE vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares MSCI All China Health Care Index ETF (KURE) 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, KURE achieves a -0.31% return, which is significantly higher than MSTZ's -26.97% return.

KURE

• 1D: 3.17%
• 1M: 11.92%
• 6M: -10.07%
• YTD: -0.31%
• 1Y: 1.18%
• 3Y*: -0.30%
• 5Y*: -13.65%
• 10Y*: —

MSTZ

• 1D: -1.53%
• 1M: 39.32%
• 6M: -19.19%
• YTD: -26.97%
• 1Y: 264.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KURE vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KURE KraneShares MSCI All China Health Care Index ETF	-0.31%	24.87%	7.00%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-26.97%	-38.95%	-94.43%

Correlation

The correlation between KURE and MSTZ is -0.29, 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	-0.29
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.25

Return for Risk

KURE vs. MSTZ — Risk / Return Rank

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

KURE

KURE Risk / Return Rank: 10
KURE Sharpe Ratio Rank: 10
KURE Sortino Ratio Rank: 11
KURE Omega Ratio Rank: 10
KURE Calmar Ratio Rank: 10
KURE Martin Ratio Rank: 10

MSTZ

MSTZ Risk / Return Rank: 60
MSTZ Sharpe Ratio Rank: 61
MSTZ Sortino Ratio Rank: 62
MSTZ Omega Ratio Rank: 63
MSTZ Calmar Ratio Rank: 71
MSTZ Martin Ratio Rank: 43

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.

KURE vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI All China Health Care Index ETF (KURE) 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.

	KURE	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	0.05	1.64	-1.59
Sortino ratio: Return per unit of downside risk	0.26	2.34	-2.07
Omega ratio: Gain probability vs. loss probability	1.03	1.30	-0.27
Calmar ratio: Return relative to maximum drawdown	0.04	2.86	-2.82
Martin ratio: Return relative to average drawdown	0.08	5.59	-5.50

KURE vs. MSTZ - Sharpe Ratio Comparison

The current KURE Sharpe Ratio is 0.05, which is lower than the MSTZ Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of KURE 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

KURE vs. MSTZ - Drawdown Comparison

The maximum KURE drawdown since its inception was -68.53%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for KURE and MSTZ.

Drawdown Indicators

	KURE	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-68.53%	-99.38%	+30.85%
Max Drawdown (1Y) Largest decline over 1 year	-30.88%	-84.89%	+54.01%
Max Drawdown (3Y) Largest decline over 3 years	-34.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-66.27%	—	—
Current Drawdown Current decline from peak	-56.59%	-97.51%	+40.92%
Average Drawdown Average peak-to-trough decline	-38.31%	-94.53%	+56.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.51%	43.41%	-27.90%

Volatility

KURE vs. MSTZ - Volatility Comparison

The current volatility for KraneShares MSCI All China Health Care Index ETF (KURE) is 10.31%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 56.46%. This indicates that KURE 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

	KURE	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.31%	56.46%	-46.15%
Volatility (6M) Calculated over the trailing 6-month period	19.65%	135.20%	-115.55%
Volatility (1Y) Calculated over the trailing 1-year period	27.67%	148.41%	-120.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.91%	171.17%	-139.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.42%	171.17%	-138.75%

KURE vs. MSTZ - Expense Ratio Comparison

KURE has a 0.65% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

KURE vs. MSTZ - Dividend Comparison

KURE's dividend yield for the trailing twelve months is around 4.21%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
KURE KraneShares MSCI All China Health Care Index ETF	4.21%	4.19%	1.29%	0.65%	0.05%	14.12%	0.00%	0.25%	0.21%
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%

Frequently Asked Questions

Can I hold both KURE and MSTZ in my portfolio?

KURE 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, KURE or MSTZ?

MSTZ has higher volatility (56.46%) compared to KURE (10.31%). In terms of maximum drawdown, KURE dropped -68.53% vs MSTZ's -99.38%.

Which ETF is better, KURE or MSTZ?

On 1-year performance, MSTZ leads with 264.10% vs 1.18% for KURE. On fees, KURE is cheaper at 0.65% per year. On volatility, KURE has been the lower-risk option at 10.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KURE or MSTZ?

Over the 1-year period, MSTZ has performed better with a 264.10% return vs 1.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KURE or MSTZ?

KURE is cheaper with a 0.65% expense ratio, compared with 1.05% for MSTZ.

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

KURE has the higher dividend yield at 4.21%, compared with 0.00% for MSTZ.

What is the main difference between KURE and MSTZ?

KURE is categorized as China Equities, while MSTZ is Inverse Equities. They also come from different issuers: CICC and REX. Their fees differ too: 0.65% for KURE and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.64 vs 0.05), 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.