MSTU vs. IBIT
MSTU (T-Rex 2X Long MSTR Daily Target ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - MSTU is a Leveraged Equities fund actively managed by T-Rex, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. MSTU is actively managed, while IBIT is passively managed. Over the past year, MSTU returned -97.30% vs -43.69% for IBIT. Their 0.78 correlation means they have sometimes moved together and sometimes differently. MSTU charges 1.05%/yr vs 0.25%/yr for IBIT.
Performance
MSTU vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, MSTU achieves a -78.22% return, which is significantly lower than IBIT's -27.17% return.
MSTU
- 1D
- 2.84%
- 1M
- -15.81%
- 6M
- -72.32%
- YTD
- -78.22%
- 1Y
- -97.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -75.33%
IBIT
- 1D
- 1.46%
- 1M
- 3.70%
- 6M
- -18.23%
- YTD
- -27.17%
- 1Y
- -43.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.33B | $1.34B | $1.65B | |
| $200.96M | $178.85M | $198.52M |
MSTU vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MSTU T-Rex 2X Long MSTR Daily Target ETF | -78.22% | -89.07% | 205.47% |
IBIT iShares Bitcoin Trust ETF | -27.17% | -6.41% | 55.57% |
Correlation
The correlation between MSTU and IBIT is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024 | 0.78 |
The correlation between MSTU and IBIT has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.
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Return for Risk
MSTU vs. IBIT — Risk / Return Rank
MSTU
IBIT
MSTU vs. IBIT - 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 iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 0.84 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.82 | -0.17 |
| Martin ratioReturn relative to average drawdown | -1.20 | -1.26 | +0.05 |
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Drawdowns
MSTU vs. IBIT - Drawdown Comparison
The maximum MSTU drawdown since its inception was -99.43%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for MSTU and IBIT.
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Drawdown Indicators
| MSTU | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.43% | -53.30% | -46.13% |
Max Drawdown (1Y)Largest decline over 1 year | -98.15% | -53.30% | -44.85% |
Current DrawdownCurrent decline from peak | -99.29% | -49.28% | -50.01% |
Average DrawdownAverage peak-to-trough decline | -74.16% | -18.29% | -55.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.83% | 34.80% | +46.03% |
Volatility
MSTU vs. IBIT - Volatility Comparison
T-Rex 2X Long MSTR Daily Target ETF (MSTU) has a higher volatility of 32.84% compared to iShares Bitcoin Trust ETF (IBIT) at 8.98%. This indicates that MSTU's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTU | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.84% | 8.98% | +23.86% |
Volatility (6M)Calculated over the trailing 6-month period | 119.27% | 33.79% | +85.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 147.80% | 44.48% | +103.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 168.37% | 49.57% | +118.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 168.37% | 49.57% | +118.80% |
MSTU vs. IBIT - Expense Ratio Comparison
MSTU has a 1.05% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
MSTU vs. IBIT - Dividend Comparison
Neither MSTU nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
MSTU and IBIT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTU has higher volatility (32.84%) compared to IBIT (8.98%). In terms of maximum drawdown, MSTU dropped -99.43% vs IBIT's -53.30%.
On 1-year performance, IBIT leads with -43.69% vs -97.30% for MSTU. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 8.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIT has performed better with a -43.69% return vs -97.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 1.05% for MSTU.
MSTU and IBIT have nearly identical dividend yields, around 0.00%.
MSTU is categorized as Leveraged Equities, while IBIT is Cryptocurrency. They also come from different issuers: T-Rex and iShares. Their fees differ too: 1.05% for MSTU and 0.25% for IBIT.
MSTU currently has the higher Sharpe Ratio (-0.66 vs -0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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