MSII vs. MSTE.TO

Last updated Jun 4, 2026

MSII (REX MSTR Growth & Income ETF) and MSTE.TO (Harvest MicroStrategy Enhanced High Income Shares ETF) are both exchange-traded funds - MSII is a Leveraged Equities fund actively managed by REX, while MSTE.TO is a Derivative Income fund actively managed by Harvest. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. MSII charges 0.99%/yr vs 0.40%/yr for MSTE.TO.

Performance

MSII vs. MSTE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX MSTR Growth & Income ETF (MSII) and Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MSII is traded in USD, while MSTE.TO is traded in CAD. To make them comparable, the MSTE.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MSII achieves a -21.10% return, which is significantly lower than MSTE.TO's -13.43% return.

MSII

• 1D: -8.30%
• 1M: -32.66%
• YTD: -21.10%
• 6M: -34.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTE.TO

• 1D: 0.00%
• 1M: -27.91%
• YTD: -13.43%
• 6M: -31.21%
• 1Y: -69.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSII vs. MSTE.TO - Yearly Performance Comparison

	2026 (YTD)	2025
MSII REX MSTR Growth & Income ETF	-21.10%	-60.25%
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF	-21.31%	-63.61%

Correlation

The correlation between MSII and MSTE.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.93

Return for Risk

MSII vs. MSTE.TO — Risk / Return Rank

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

MSTE.TO

MSTE.TO Risk / Return Rank: 1
MSTE.TO Sharpe Ratio Rank: 2
MSTE.TO Sortino Ratio Rank: 1
MSTE.TO Omega Ratio Rank: 1
MSTE.TO Calmar Ratio Rank: 1
MSTE.TO Martin Ratio Rank: 2

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.

MSII vs. MSTE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX MSTR Growth & Income ETF (MSII) and Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO). 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.

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

Sharpe Ratios by Period

	MSII	MSTE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.97	-0.61	-0.36

Drawdowns

MSII vs. MSTE.TO - Drawdown Comparison

The maximum MSII drawdown since its inception was -78.73%, roughly equal to the maximum MSTE.TO drawdown of -80.39%. Use the drawdown chart below to compare losses from any high point for MSII and MSTE.TO.

Drawdown Indicators

	MSII	MSTE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.73%	-80.39%	+1.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-80.39%	—
Current Drawdown Current decline from peak	-74.38%	-74.22%	-0.16%
Average Drawdown Average peak-to-trough decline	-46.16%	-39.71%	-6.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	54.07%	—

Volatility

Volatility by Period

	MSII	MSTE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	22.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	62.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	71.20%	77.57%	-6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.20%	84.95%	-13.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.20%	84.95%	-13.75%

MSII vs. MSTE.TO - Expense Ratio Comparison

MSII has a 0.99% expense ratio, which is higher than MSTE.TO's 0.40% expense ratio.

Dividends

MSII vs. MSTE.TO - Dividend Comparison

MSII's dividend yield for the trailing twelve months is around 90.41%, less than MSTE.TO's 149.64% yield.

Position	TTM	2025
MSII REX MSTR Growth & Income ETF	90.41%	48.93%
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF	149.64%	121.40%

Frequently Asked Questions

Can I hold both MSII and MSTE.TO in my portfolio?

With a correlation of 0.93, MSII and MSTE.TO 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 ETF is better, MSII or MSTE.TO?

On fees, MSTE.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSII or MSTE.TO?

MSTE.TO is cheaper with a 0.40% expense ratio, compared with 0.99% for MSII.

What is the main difference between MSII and MSTE.TO?

MSII is categorized as Leveraged Equities, while MSTE.TO is Derivative Income. They also come from different issuers: REX and Harvest. Their fees differ too: 0.99% for MSII and 0.40% for MSTE.TO.