MSFX vs. TSMX

Last updated Apr 1, 2026

Compare and contrast key facts about T-Rex 2X Long Microsoft Daily Target ETF (MSFX) and Direxion Daily TSM Bull 2X Shares (TSMX).

MSFX and TSMX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSFX is an actively managed fund by T-Rex. It was launched on Jan 10, 2024. TSMX is an actively managed fund by Direxion. It was launched on Oct 3, 2024.

Performance

MSFX vs. TSMX - 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 TSM Bull 2X Shares (TSMX). The values are adjusted to include any dividend payments, if applicable.

MSFX vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFX T-Rex 2X Long Microsoft Daily Target ETF	-44.31%	9.84%	-1.13%
TSMX Direxion Daily TSM Bull 2X Shares	16.15%	81.48%	14.76%

Returns By Period

In the year-to-date period, MSFX achieves a -44.31% return, which is significantly lower than TSMX's 16.15% return.

MSFX

• 1D: 6.35%
• 1M: -12.12%
• YTD: -44.31%
• 6M: -54.13%
• 1Y: -19.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMX

• 1D: 13.81%
• 1M: -20.58%
• YTD: 16.15%
• 6M: 30.27%
• 1Y: 227.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFX vs. TSMX - Expense Ratio Comparison

Both MSFX and TSMX have an expense ratio of 1.05%.

MSFX

T-Rex 2X Long Microsoft Daily Target ETF

TSMX

Direxion Daily TSM Bull 2X Shares

Return for Risk

MSFX vs. TSMX — Risk / Return Rank

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

MSFX

MSFX Risk / Return Rank: 6
MSFX Sharpe Ratio Rank: 6
MSFX Sortino Ratio Rank: 7
MSFX Omega Ratio Rank: 7
MSFX Calmar Ratio Rank: 6
MSFX Martin Ratio Rank: 5

TSMX

TSMX Risk / Return Rank: 96
TSMX Sharpe Ratio Rank: 97
TSMX Sortino Ratio Rank: 95
TSMX Omega Ratio Rank: 91
TSMX Calmar Ratio Rank: 98
TSMX Martin Ratio Rank: 97

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. TSMX - 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 TSM Bull 2X Shares (TSMX). 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.

	MSFX	TSMX	Difference
Sharpe ratio Return per unit of total volatility	-0.36	2.95	-3.32
Sortino ratio Return per unit of downside risk	-0.20	3.08	-3.28
Omega ratio Gain probability vs. loss probability	0.97	1.39	-0.41
Calmar ratio Return relative to maximum drawdown	-0.34	6.59	-6.93
Martin ratio Return relative to average drawdown	-0.86	20.50	-21.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFX vs. TSMX - Sharpe Ratio Comparison

The current MSFX Sharpe Ratio is -0.36, which is lower than the TSMX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of MSFX and TSMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSFX	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.36	2.95	-3.32
Sharpe Ratio (All Time) Calculated using the full available price history	-0.39	1.01	-1.40

Correlation

The correlation between MSFX and TSMX is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MSFX vs. TSMX - Dividend Comparison

MSFX's dividend yield for the trailing twelve months is around 9.59%, more than TSMX's 7.11% yield.

	TTM	2025	2024
MSFX T-Rex 2X Long Microsoft Daily Target ETF	9.59%	5.34%	0.00%
TSMX Direxion Daily TSM Bull 2X Shares	7.11%	8.01%	0.53%

Drawdowns

MSFX vs. TSMX - Drawdown Comparison

The maximum MSFX drawdown since its inception was -60.86%, roughly equal to the maximum TSMX drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for MSFX and TSMX.

Drawdown Indicators

	MSFX	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-60.86%	-63.80%	+2.94%
Max Drawdown (1Y) Largest decline over 1 year	-60.86%	-34.93%	-25.93%
Current Drawdown Current decline from peak	-57.85%	-25.94%	-31.91%
Average Drawdown Average peak-to-trough decline	-19.07%	-16.74%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.49%	11.22%	+13.27%

Volatility

MSFX vs. TSMX - Volatility Comparison

The current volatility for T-Rex 2X Long Microsoft Daily Target ETF (MSFX) is 13.18%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 29.06%. This indicates that MSFX experiences smaller price fluctuations and is considered to be less risky than TSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFX	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.18%	29.06%	-15.88%
Volatility (6M) Calculated over the trailing 6-month period	39.27%	54.61%	-15.34%
Volatility (1Y) Calculated over the trailing 1-year period	53.16%	77.49%	-24.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.79%	81.26%	-33.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.79%	81.26%	-33.47%