MSTE.TO vs. MSTU

Last updated Apr 2, 2026

Compare and contrast key facts about Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO) and T-Rex 2X Long MSTR Daily Target ETF (MSTU).

MSTE.TO and MSTU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSTE.TO is an actively managed fund by Harvest. It was launched on Mar 5, 2025. MSTU is an actively managed fund by T-Rex. It was launched on Sep 18, 2024.

Performance

MSTE.TO vs. MSTU - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO) and T-Rex 2X Long MSTR Daily Target ETF (MSTU). The values are adjusted to include any dividend payments, if applicable.

MSTE.TO vs. MSTU - Yearly Performance Comparison

	2026 (YTD)	2025
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF	-16.99%	-55.56%
MSTU T-Rex 2X Long MSTR Daily Target ETF	-48.17%	-88.64%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, MSTE.TO achieves a -16.99% return, which is significantly higher than MSTU's -48.17% return.

MSTE.TO

• 1D: -1.59%
• 1M: -8.15%
• YTD: -16.99%
• 6M: -67.61%
• 1Y: -63.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTU

• 1D: 0.00%
• 1M: -20.97%
• YTD: -48.17%
• 6M: -91.70%
• 1Y: -93.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTE.TO vs. MSTU - Expense Ratio Comparison

MSTE.TO has a 0.40% expense ratio, which is lower than MSTU's 1.05% expense ratio.

MSTU

T-Rex 2X Long MSTR Daily Target ETF

MSTE.TO

Harvest MicroStrategy Enhanced High Income Shares ETF

Return for Risk

MSTE.TO vs. MSTU — 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: 1
MSTE.TO Sortino Ratio Rank: 1
MSTE.TO Omega Ratio Rank: 1
MSTE.TO Calmar Ratio Rank: 1
MSTE.TO Martin Ratio Rank: 2

MSTU

MSTU Risk / Return Rank: 1
MSTU Sharpe Ratio Rank: 2
MSTU Sortino Ratio Rank: 1
MSTU Omega Ratio Rank: 1
MSTU Calmar Ratio Rank: 0
MSTU Martin Ratio Rank: 1

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.

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

This table presents a comparison of risk-adjusted performance metrics for Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO) and T-Rex 2X Long MSTR Daily Target ETF (MSTU). 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.

	MSTE.TO	MSTU	Difference
Sharpe ratio Return per unit of total volatility	-0.79	-0.65	-0.14
Sortino ratio Return per unit of downside risk	-1.24	-1.65	+0.41
Omega ratio Gain probability vs. loss probability	0.86	0.82	+0.04
Calmar ratio Return relative to maximum drawdown	-0.77	-0.96	+0.19
Martin ratio Return relative to average drawdown	-1.34	-1.43	+0.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTE.TO vs. MSTU - Sharpe Ratio Comparison

The current MSTE.TO Sharpe Ratio is -0.79, which is comparable to the MSTU Sharpe Ratio of -0.65. The chart below compares the historical Sharpe Ratios of MSTE.TO and MSTU, 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

	MSTE.TO	MSTU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.79	-0.65	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.71	-0.40	-0.31

Correlation

The correlation between MSTE.TO and MSTU is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MSTE.TO vs. MSTU - Dividend Comparison

MSTE.TO's dividend yield for the trailing twelve months is around 165.16%, while MSTU has not paid dividends to shareholders.

	TTM	2025
MSTE.TO Harvest MicroStrategy Enhanced High Income Shares ETF	165.16%	121.40%
MSTU T-Rex 2X Long MSTR Daily Target ETF	0.00%	0.00%

Drawdowns

MSTE.TO vs. MSTU - Drawdown Comparison

The maximum MSTE.TO drawdown since its inception was -80.35%, smaller than the maximum MSTU drawdown of -98.61%. Use the drawdown chart below to compare losses from any high point for MSTE.TO and MSTU.

Drawdown Indicators

	MSTE.TO	MSTU	Difference
Max Drawdown Largest peak-to-trough decline	-80.35%	-98.58%	+18.23%
Max Drawdown (1Y) Largest decline over 1 year	-80.35%	-96.58%	+16.23%
Current Drawdown Current decline from peak	-75.21%	-98.40%	+23.19%
Average Drawdown Average peak-to-trough decline	-35.03%	-69.09%	+34.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.92%	65.01%	-19.09%

Volatility

MSTE.TO vs. MSTU - Volatility Comparison

The current volatility for Harvest MicroStrategy Enhanced High Income Shares ETF (MSTE.TO) is 18.71%, while T-Rex 2X Long MSTR Daily Target ETF (MSTU) has a volatility of 36.30%. This indicates that MSTE.TO experiences smaller price fluctuations and is considered to be less risky than MSTU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTE.TO	MSTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.71%	36.30%	-17.59%
Volatility (6M) Calculated over the trailing 6-month period	63.62%	109.73%	-46.11%
Volatility (1Y) Calculated over the trailing 1-year period	81.64%	144.71%	-63.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.48%	170.48%	-85.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.48%	170.48%	-85.00%