MSTU vs. IBIT

Last updated Jul 14, 2026

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 -98.18% vs -47.60% for IBIT. A 0.78 correlation means they provide meaningful diversification when combined. MSTU charges 1.05%/yr vs 0.25%/yr for IBIT.

Performance

MSTU vs. IBIT - 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 iShares Bitcoin Trust ETF (IBIT). 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 lower than IBIT's -29.06% return.

MSTU

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

IBIT

• 1D: -2.79%
• 1M: -2.28%
• 6M: -32.10%
• YTD: -29.06%
• 1Y: -47.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTU vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTU T-Rex 2X Long MSTR Daily Target ETF	-78.58%	-89.07%	205.47%
IBIT iShares Bitcoin Trust ETF	-29.06%	-6.41%	55.57%

Correlation

The correlation between MSTU and IBIT is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
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 0.84 - a consistent structural relationship.

Return for Risk

MSTU vs. IBIT — 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

IBIT

IBIT Risk / Return Rank: 1
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 1
IBIT Omega Ratio Rank: 1
IBIT Calmar Ratio Rank: 1
IBIT 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.

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 ratio: Return per unit of total volatility	-0.67	-1.08	+0.41
Sortino ratio: Return per unit of downside risk	-2.72	-1.65	-1.07
Omega ratio: Gain probability vs. loss probability	0.72	0.82	-0.10
Calmar ratio: Return relative to maximum drawdown	-1.00	-0.90	-0.10
Martin ratio: Return relative to average drawdown	-1.20	-1.46	+0.25

MSTU vs. IBIT - Sharpe Ratio Comparison

The current MSTU Sharpe Ratio is -0.67, which is higher than the IBIT Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of MSTU and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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.

Drawdown Indicators

	MSTU	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-99.43%	-53.30%	-46.13%
Max Drawdown (1Y) Largest decline over 1 year	-98.62%	-53.30%	-45.32%
Current Drawdown Current decline from peak	-99.31%	-50.60%	-48.71%
Average Drawdown Average peak-to-trough decline	-73.33%	-17.56%	-55.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	81.41%	32.72%	+48.69%

Volatility

MSTU vs. IBIT - Volatility Comparison

T-Rex 2X Long MSTR Daily Target ETF (MSTU) has a higher volatility of 53.18% compared to iShares Bitcoin Trust ETF (IBIT) at 11.51%. 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.

Volatility by Period

	MSTU	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	53.18%	11.51%	+41.67%
Volatility (6M) Calculated over the trailing 6-month period	120.98%	34.79%	+86.19%
Volatility (1Y) Calculated over the trailing 1-year period	146.68%	44.38%	+102.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	169.63%	49.97%	+119.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	169.63%	49.97%	+119.66%

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.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSTU and IBIT in my portfolio?

MSTU and IBIT have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTU or IBIT?

MSTU has higher volatility (53.18%) compared to IBIT (11.51%). In terms of maximum drawdown, MSTU dropped -99.43% vs IBIT's -53.30%.

Which ETF is better, MSTU or IBIT?

On 1-year performance, IBIT leads with -47.60% vs -98.18% for MSTU. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 11.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTU or IBIT?

Over the 1-year period, IBIT has performed better with a -47.60% return vs -98.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTU or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 1.05% for MSTU.

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

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

What is the main difference between MSTU and IBIT?

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.

Which has better risk-adjusted returns?

MSTU currently has the higher Sharpe Ratio (-0.67 vs -1.08), 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.