MSFX vs. TERG

Last updated Aug 2, 2026

MSFX (T-Rex 2X Long Microsoft Daily Target ETF) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. Both are actively managed. Their -0.05 correlation means they have often moved in opposite directions in the past. MSFX charges 1.05%/yr vs 0.75%/yr for TERG.

Performance

MSFX vs. TERG - 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 Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFX achieves a -19.85% return, which is significantly lower than TERG's 118.24% return.

MSFX

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

TERG

• 1D: 1.38%
• 1M: -8.01%
• 6M: 44.99%
• YTD: 118.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
MSFX T-Rex 2X Long Microsoft Daily Target ETF	$7.46M	$6.03M	$5.49M
TERG Leverage Shares 2X Long TER Daily ETF	$2.08M	$2.39M	$4.94M

MSFX vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
MSFX T-Rex 2X Long Microsoft Daily Target ETF	-19.85%	-13.39%
TERG Leverage Shares 2X Long TER Daily ETF	118.24%	20.91%

Correlation

The correlation between MSFX and TERG is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	-0.05

Return for Risk

MSFX vs. TERG — 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

TERG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TERG - 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 Leverage Shares 2X Long TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	—	—
Sortino ratio: Return per unit of downside risk	-0.72	—	—
Omega ratio: Gain probability vs. loss probability	0.91	—	—
Calmar ratio: Return relative to maximum drawdown	-0.62	—	—
Martin ratio: Return relative to average drawdown	-1.01	—	—

Drawdowns

MSFX vs. TERG - Drawdown Comparison

The maximum MSFX drawdown since its inception was -63.56%, roughly equal to the maximum TERG drawdown of -60.59%. Use the drawdown chart below to compare losses from any high point for MSFX and TERG.

Drawdown Indicators

	MSFX	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-63.56%	-60.59%	-2.97%
Max Drawdown (1Y) Largest decline over 1 year	-63.56%	—	—
Current Drawdown Current decline from peak	-39.33%	-48.67%	+9.34%
Average Drawdown Average peak-to-trough decline	-23.33%	-18.83%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.70%	—	—

Volatility

Volatility by Period

	MSFX	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	51.35%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	63.33%	158.05%	-94.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.73%	158.05%	-104.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.73%	158.05%	-104.32%

MSFX vs. TERG - Expense Ratio Comparison

MSFX has a 1.05% expense ratio, which is higher than TERG's 0.75% expense ratio.

Dividends

MSFX vs. TERG - Dividend Comparison

MSFX's dividend yield for the trailing twelve months is around 6.66%, while TERG has not paid dividends to shareholders.

Position	TTM	2025
MSFX T-Rex 2X Long Microsoft Daily Target ETF	6.66%	5.34%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFX and TERG in my portfolio?

MSFX and TERG have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSFX or TERG?

On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSFX or TERG?

TERG is cheaper with a 0.75% expense ratio, compared with 1.05% for MSFX.

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

MSFX has the higher dividend yield at 6.66%, compared with 0.00% for TERG.

What is the main difference between MSFX and TERG?

They also come from different issuers: T-Rex and Leverage Shares. Their fees differ too: 1.05% for MSFX and 0.75% for TERG.