MSFX vs. MSFU

Last updated Aug 2, 2026

MSFX (T-Rex 2X Long Microsoft Daily Target ETF) and MSFU (Direxion Daily MSFT Bull 2X Shares) are both Leveraged Equities funds. MSFX is actively managed, while MSFU is passively managed. Over the past year, MSFX returned -36.75% vs -34.49% for MSFU. Their 0.99 correlation means they have historically moved very closely together. MSFX charges 1.05%/yr vs 0.98%/yr for MSFU.

Performance

MSFX vs. MSFU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Microsoft Daily Target ETF (MSFX) and Direxion Daily MSFT Bull 2X Shares (MSFU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MSFX having a -19.85% return and MSFU slightly higher at -18.87%.

MSFX

• 1D: 5.74%
• 1M: 37.34%
• 6M: 4.23%
• YTD: -19.85%
• 1Y: -36.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.75%

MSFU

• 1D: 5.90%
• 1M: 37.88%
• 6M: 4.85%
• YTD: -18.87%
• 1Y: -34.49%
• 3Y*: 3.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.80%

*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)
MSFU Direxion Daily MSFT Bull 2X Shares	$236.35M	$210.49M	$216.20M
MSFX T-Rex 2X Long Microsoft Daily Target ETF	$7.46M	$6.03M	$5.49M

MSFX vs. MSFU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFX T-Rex 2X Long Microsoft Daily Target ETF	-19.85%	9.84%	3.03%
MSFU Direxion Daily MSFT Bull 2X Shares	-18.87%	13.36%	3.22%

Correlation

The correlation between MSFX and MSFU is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.99

The correlation between MSFX and MSFU has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

MSFX vs. MSFU - Sectors Allocation Comparison

Sectors	MSFX	MSFU
Technology	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MSFX vs. MSFU — Risk / Return Rank

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

MSFX

MSFX Risk / Return Rank: 4
MSFX Sharpe Ratio Rank: 4
MSFX Sortino Ratio Rank: 4
MSFX Omega Ratio Rank: 4
MSFX Calmar Ratio Rank: 4
MSFX Martin Ratio Rank: 4

MSFU

MSFU Risk / Return Rank: 5
MSFU Sharpe Ratio Rank: 4
MSFU Sortino Ratio Rank: 5
MSFU Omega Ratio Rank: 4
MSFU Calmar Ratio Rank: 4
MSFU Martin Ratio Rank: 5

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.

MSFX vs. MSFU - 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 Direxion Daily MSFT Bull 2X Shares (MSFU). 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	MSFU	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	-0.59	-0.04
Sortino ratio: Return per unit of downside risk	-0.72	-0.63	-0.08
Omega ratio: Gain probability vs. loss probability	0.91	0.92	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.62	-0.59	-0.03
Martin ratio: Return relative to average drawdown	-1.01	-0.98	-0.03

MSFX vs. MSFU - Sharpe Ratio Comparison

The current MSFX Sharpe Ratio is -0.62, which is comparable to the MSFU Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of MSFX and MSFU, 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

MSFX vs. MSFU - Drawdown Comparison

The maximum MSFX drawdown since its inception was -63.56%, roughly equal to the maximum MSFU drawdown of -62.43%. Use the drawdown chart below to compare losses from any high point for MSFX and MSFU.

Drawdown Indicators

	MSFX	MSFU	Difference
Max Drawdown Largest peak-to-trough decline	-63.56%	-62.43%	-1.13%
Max Drawdown (1Y) Largest decline over 1 year	-63.56%	-62.43%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-62.43%	—
Current Drawdown Current decline from peak	-39.33%	-37.20%	-2.13%
Average Drawdown Average peak-to-trough decline	-23.33%	-18.02%	-5.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.70%	37.69%	+1.01%

Volatility

MSFX vs. MSFU - Volatility Comparison

T-Rex 2X Long Microsoft Daily Target ETF (MSFX) and Direxion Daily MSFT Bull 2X Shares (MSFU) have volatilities of 29.51% and 29.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFX	MSFU	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.51%	29.64%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	51.35%	51.29%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	63.33%	63.22%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.73%	49.57%	+4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.73%	49.57%	+4.16%

MSFX vs. MSFU - Expense Ratio Comparison

MSFX has a 1.05% expense ratio, which is higher than MSFU's 0.98% expense ratio.

Dividends

MSFX vs. MSFU - Dividend Comparison

MSFX's dividend yield for the trailing twelve months is around 6.66%, less than MSFU's 9.13% yield.

Position	TTM	2025	2024	2023	2022
MSFU Direxion Daily MSFT Bull 2X Shares	9.13%	8.15%	7.00%	2.11%	0.54%
MSFX T-Rex 2X Long Microsoft Daily Target ETF	6.66%	5.34%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFX and MSFU in my portfolio?

With a correlation of 0.99, MSFX and MSFU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MSFX or MSFU?

MSFU has higher volatility (29.64%) compared to MSFX (29.51%). In terms of maximum drawdown, MSFX dropped -63.56% vs MSFU's -62.43%.

Which ETF is better, MSFX or MSFU?

On 1-year performance, MSFU leads with -34.49% vs -36.75% for MSFX. On fees, MSFU is cheaper at 0.98% per year. On volatility, MSFX has been the lower-risk option at 29.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFX or MSFU?

Over the 1-year period, MSFU has performed better with a -34.49% return vs -36.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFX or MSFU?

MSFU is cheaper with a 0.98% expense ratio, compared with 1.05% for MSFX.

Which ETF pays a higher dividend yield, MSFX or MSFU?

MSFU has the higher dividend yield at 9.13%, compared with 6.66% for MSFX.

What is the main difference between MSFX and MSFU?

They also come from different issuers: T-Rex and Direxion. Their fees differ too: 1.05% for MSFX and 0.98% for MSFU.

Which has better risk-adjusted returns?

MSFU currently has the higher Sharpe Ratio (-0.59 vs -0.62), 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.