MSFX vs. FDL
MSFX (T-Rex 2X Long Microsoft Daily Target ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - MSFX is a Leveraged Equities fund actively managed by T-Rex, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. MSFX is actively managed, while FDL is passively managed. Over the past year, MSFX returned -50.92% vs 21.02% for FDL. At a 0.02 correlation, their price movements are largely independent. MSFX charges 1.05%/yr vs 0.43%/yr for FDL.
Performance
MSFX vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, MSFX achieves a -47.64% return, which is significantly lower than FDL's 11.33% return.
MSFX
- 1D
- -6.41%
- 1M
- -24.51%
- YTD
- -47.64%
- 6M
- -49.12%
- 1Y
- -50.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FDL
- 1D
- -0.16%
- 1M
- -3.91%
- YTD
- 11.33%
- 6M
- 11.38%
- 1Y
- 21.02%
- 3Y*
- 18.63%
- 5Y*
- 12.95%
- 10Y*
- 10.99%
MSFX vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MSFX T-Rex 2X Long Microsoft Daily Target ETF | -47.64% | 9.84% | 3.03% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 11.33% | 14.79% | 16.94% |
Correlation
The correlation between MSFX and FDL is -0.15, 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 | -0.15 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.02 |
The correlation between MSFX and FDL shifts across timeframes, from -0.15 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MSFX vs. FDL — Risk / Return Rank
MSFX
FDL
MSFX vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Microsoft Daily Target ETF (MSFX) and First Trust Morningstar Dividend Leaders Index Fund (FDL). 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.
| MSFX | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.21 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.32 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 4.94 | -5.78 |
| Martin ratioReturn relative to average drawdown | -1.50 | 11.71 | -13.21 |
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Drawdowns
MSFX vs. FDL - Drawdown Comparison
The maximum MSFX drawdown since its inception was -60.86%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for MSFX and FDL.
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Drawdown Indicators
| MSFX | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.86% | -65.93% | +5.07% |
Max Drawdown (1Y)Largest decline over 1 year | -60.86% | -4.27% | -56.59% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.24% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.40% | — |
Current DrawdownCurrent decline from peak | -60.36% | -4.24% | -56.12% |
Average DrawdownAverage peak-to-trough decline | -21.84% | -9.64% | -12.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.88% | 1.80% | +32.08% |
Volatility
MSFX vs. FDL - Volatility Comparison
T-Rex 2X Long Microsoft Daily Target ETF (MSFX) has a higher volatility of 22.23% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.52%. This indicates that MSFX's price experiences larger fluctuations and is considered to be riskier than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFX | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.23% | 3.52% | +18.71% |
Volatility (6M)Calculated over the trailing 6-month period | 46.52% | 8.03% | +38.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.28% | 11.51% | +40.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.69% | 14.30% | +35.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.69% | 17.13% | +32.56% |
MSFX vs. FDL - Expense Ratio Comparison
MSFX has a 1.05% expense ratio, which is higher than FDL's 0.43% expense ratio.
Dividends
MSFX vs. FDL - Dividend Comparison
MSFX's dividend yield for the trailing twelve months is around 10.20%, more than FDL's 3.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.74% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
MSFX T-Rex 2X Long Microsoft Daily Target ETF | 10.20% | 5.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSFX and FDL have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFX has higher volatility (22.23%) compared to FDL (3.52%). In terms of maximum drawdown, MSFX dropped -60.86% vs FDL's -65.93%.
On 1-year performance, FDL leads with 21.02% vs -50.92% for MSFX. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FDL has performed better with a 21.02% return vs -50.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDL is cheaper with a 0.43% expense ratio, compared with 1.05% for MSFX.
MSFX has the higher dividend yield at 10.20%, compared with 3.74% for FDL.
MSFX is categorized as Leveraged Equities, while FDL is Large Cap Value Equities. They also come from different issuers: T-Rex and First Trust. Their fees differ too: 1.05% for MSFX and 0.43% for FDL.
FDL currently has the higher Sharpe Ratio (1.84 vs -0.98), 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.
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