MSFX vs. SBIT

Last updated Jul 14, 2026

MSFX (T-Rex 2X Long Microsoft Daily Target ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - MSFX is a Leveraged Equities fund actively managed by T-Rex, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). MSFX is actively managed, while SBIT is passively managed. Over the past year, MSFX returned -50.30% vs 124.12% for SBIT. At a correlation of -0.26, they often move in opposite directions. MSFX charges 1.05%/yr vs 0.95%/yr for SBIT.

Performance

MSFX vs. SBIT - 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 Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFX achieves a -41.43% return, which is significantly lower than SBIT's 44.00% return.

MSFX

• 1D: 3.02%
• 1M: -1.84%
• 6M: -39.52%
• YTD: -41.43%
• 1Y: -50.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFX vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFX T-Rex 2X Long Microsoft Daily Target ETF	-41.43%	9.84%	-12.22%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-73.74%

Correlation

The correlation between MSFX and SBIT is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.26

Return for Risk

MSFX vs. SBIT — Risk / Return Rank

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

MSFX

MSFX Risk / Return Rank: 2
MSFX Sharpe Ratio Rank: 2
MSFX Sortino Ratio Rank: 2
MSFX Omega Ratio Rank: 2
MSFX Calmar Ratio Rank: 3
MSFX Martin Ratio Rank: 2

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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.

MSFX vs. SBIT - 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 Proshares Ultrashort Bitcoin ETF (SBIT). 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	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	1.41	-2.34
Sortino ratio: Return per unit of downside risk	-1.32	2.05	-3.37
Omega ratio: Gain probability vs. loss probability	0.83	1.25	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.79	2.60	-3.40
Martin ratio: Return relative to average drawdown	-1.38	5.92	-7.30

MSFX vs. SBIT - Sharpe Ratio Comparison

The current MSFX Sharpe Ratio is -0.93, which is lower than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of MSFX and SBIT, 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. SBIT - Drawdown Comparison

The maximum MSFX drawdown since its inception was -63.56%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for MSFX and SBIT.

Drawdown Indicators

	MSFX	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-63.56%	-91.35%	+27.79%
Max Drawdown (1Y) Largest decline over 1 year	-63.56%	-47.94%	-15.62%
Current Drawdown Current decline from peak	-55.66%	-77.15%	+21.49%
Average Drawdown Average peak-to-trough decline	-22.66%	-68.83%	+46.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.56%	21.04%	+15.52%

Volatility

MSFX vs. SBIT - Volatility Comparison

The current volatility for T-Rex 2X Long Microsoft Daily Target ETF (MSFX) is 20.83%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that MSFX experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFX	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.83%	22.98%	-2.15%
Volatility (6M) Calculated over the trailing 6-month period	48.82%	68.89%	-20.07%
Volatility (1Y) Calculated over the trailing 1-year period	54.37%	88.51%	-34.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.22%	96.89%	-46.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.22%	96.89%	-46.67%

MSFX vs. SBIT - Expense Ratio Comparison

MSFX has a 1.05% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

MSFX vs. SBIT - Dividend Comparison

MSFX's dividend yield for the trailing twelve months is around 9.12%, more than SBIT's 3.97% yield.

Position	TTM	2025	2024
MSFX T-Rex 2X Long Microsoft Daily Target ETF	9.12%	5.34%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both MSFX and SBIT in my portfolio?

MSFX and SBIT have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFX or SBIT?

SBIT has higher volatility (22.98%) compared to MSFX (20.83%). In terms of maximum drawdown, MSFX dropped -63.56% vs SBIT's -91.35%.

Which ETF is better, MSFX or SBIT?

On 1-year performance, SBIT leads with 124.12% vs -50.30% for MSFX. On fees, SBIT is cheaper at 0.95% per year. On volatility, MSFX has been the lower-risk option at 20.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFX or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs -50.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFX or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 1.05% for MSFX.

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

MSFX has the higher dividend yield at 9.12%, compared with 3.97% for SBIT.

What is the main difference between MSFX and SBIT?

MSFX is categorized as Leveraged Equities, while SBIT is Cryptocurrency. They also come from different issuers: T-Rex and ProShares. Their fees differ too: 1.05% for MSFX and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.41 vs -0.93), 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.