MSTU vs. BMNG

Last updated Jul 14, 2026

MSTU (T-Rex 2X Long MSTR Daily Target ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. MSTU charges 1.05%/yr vs 0.75%/yr for BMNG.

Performance

MSTU vs. BMNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long MSTR Daily Target ETF (MSTU) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTU achieves a -78.58% return, which is significantly higher than BMNG's -83.14% return.

MSTU

• 1D: -5.07%
• 1M: -49.43%
• 6M: -80.82%
• YTD: -78.58%
• 1Y: -98.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNG

• 1D: -4.71%
• 1M: -22.33%
• 6M: -86.67%
• YTD: -83.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTU vs. BMNG - Yearly Performance Comparison

	2026 (YTD)	2025
MSTU T-Rex 2X Long MSTR Daily Target ETF	-78.58%	-76.59%
BMNG Leverage Shares 2X Long BMNR Daily ETF	-83.14%	-80.50%

Correlation

The correlation between MSTU and BMNG is 0.81, 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 Oct 27, 2025	0.81

Return for Risk

MSTU vs. BMNG — Risk / Return Rank

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

MSTU

MSTU Risk / Return Rank: 1
MSTU Sharpe Ratio Rank: 4
MSTU Sortino Ratio Rank: 0
MSTU Omega Ratio Rank: 0
MSTU Calmar Ratio Rank: 0
MSTU Martin Ratio Rank: 3

BMNG

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

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.

MSTU vs. BMNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long MSTR Daily Target ETF (MSTU) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). 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.

	MSTU	BMNG	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	—	—
Sortino ratio: Return per unit of downside risk	-2.72	—	—
Omega ratio: Gain probability vs. loss probability	0.72	—	—
Calmar ratio: Return relative to maximum drawdown	-1.00	—	—
Martin ratio: Return relative to average drawdown	-1.20	—	—

Drawdowns

MSTU vs. BMNG - Drawdown Comparison

The maximum MSTU drawdown since its inception was -99.43%, roughly equal to the maximum BMNG drawdown of -97.32%. Use the drawdown chart below to compare losses from any high point for MSTU and BMNG.

Drawdown Indicators

	MSTU	BMNG	Difference
Max Drawdown Largest peak-to-trough decline	-99.43%	-97.32%	-2.11%
Max Drawdown (1Y) Largest decline over 1 year	-98.62%	—	—
Current Drawdown Current decline from peak	-99.31%	-96.86%	-2.45%
Average Drawdown Average peak-to-trough decline	-73.33%	-83.13%	+9.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	81.41%	—	—

Volatility

Volatility by Period

	MSTU	BMNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	53.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	120.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	146.68%	185.89%	-39.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	169.63%	185.89%	-16.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	169.63%	185.89%	-16.26%

MSTU vs. BMNG - Expense Ratio Comparison

MSTU has a 1.05% expense ratio, which is higher than BMNG's 0.75% expense ratio.

Dividends

MSTU vs. BMNG - Dividend Comparison

Neither MSTU nor BMNG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSTU and BMNG in my portfolio?

MSTU and BMNG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSTU or BMNG?

On fees, BMNG 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, MSTU or BMNG?

BMNG is cheaper with a 0.75% expense ratio, compared with 1.05% for MSTU.

Which ETF pays a higher dividend yield, MSTU or BMNG?

MSTU and BMNG have nearly identical dividend yields, around 0.00%.

What is the main difference between MSTU and BMNG?

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