MSTU vs. MSTZ

Last updated Jun 24, 2026

MSTU (T-Rex 2X Long MSTR Daily Target ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - MSTU is a Leveraged Equities fund actively managed by T-Rex, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, MSTU returned -96.65% vs 138.79% for MSTZ. At a correlation of -1.00, they often move in opposite directions. Both charge a 1.05% expense ratio.

Performance

MSTU vs. MSTZ - 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 T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTU achieves a -70.88% return, which is significantly lower than MSTZ's -28.57% return.

MSTU

• 1D: -10.37%
• 1M: -61.22%
• YTD: -70.88%
• 6M: -73.38%
• 1Y: -96.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: 10.06%
• 1M: 102.15%
• YTD: -28.57%
• 6M: -23.10%
• 1Y: 138.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTU vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTU T-Rex 2X Long MSTR Daily Target ETF	-70.88%	-89.07%	205.47%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-28.57%	-38.95%	-94.43%

Correlation

The correlation between MSTU and MSTZ is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-1.00
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-1.00

The correlation between MSTU and MSTZ has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.

Return for Risk

MSTU vs. MSTZ — Risk / Return Rank

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

MSTU

MSTU Risk / Return Rank: 2
MSTU Sharpe Ratio Rank: 4
MSTU Sortino Ratio Rank: 0
MSTU Omega Ratio Rank: 0
MSTU Calmar Ratio Rank: 1
MSTU Martin Ratio Rank: 3

MSTZ

MSTZ Risk / Return Rank: 34
MSTZ Sharpe Ratio Rank: 28
MSTZ Sortino Ratio Rank: 41
MSTZ Omega Ratio Rank: 40
MSTZ Calmar Ratio Rank: 35
MSTZ Martin Ratio Rank: 26

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. MSTZ - 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 T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). 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	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.68	0.97	-1.65
Sortino ratio: Return per unit of downside risk	-2.29	1.98	-4.27
Omega ratio: Gain probability vs. loss probability	0.76	1.25	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.99	1.64	-2.63
Martin ratio: Return relative to average drawdown	-1.23	3.27	-4.51

MSTU vs. MSTZ - Sharpe Ratio Comparison

The current MSTU Sharpe Ratio is -0.68, which is lower than the MSTZ Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of MSTU and MSTZ, 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. MSTZ - Drawdown Comparison

The maximum MSTU drawdown since its inception was -99.06%, roughly equal to the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for MSTU and MSTZ.

Drawdown Indicators

	MSTU	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.06%	-99.38%	+0.32%
Max Drawdown (1Y) Largest decline over 1 year	-97.73%	-84.89%	-12.84%
Current Drawdown Current decline from peak	-99.06%	-97.57%	-1.49%
Average Drawdown Average peak-to-trough decline	-72.57%	-94.45%	+21.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	78.30%	42.87%	+35.43%

Volatility

MSTU vs. MSTZ - Volatility Comparison

T-Rex 2X Long MSTR Daily Target ETF (MSTU) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) have volatilities of 44.20% and 42.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTU	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	44.20%	42.31%	+1.89%
Volatility (6M) Calculated over the trailing 6-month period	114.02%	127.64%	-13.62%
Volatility (1Y) Calculated over the trailing 1-year period	142.01%	143.71%	-1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.53%	169.81%	-1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.53%	169.81%	-1.28%

MSTU vs. MSTZ - Expense Ratio Comparison

Both MSTU and MSTZ have an expense ratio of 1.05%.

Dividends

MSTU vs. MSTZ - Dividend Comparison

Neither MSTU nor MSTZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSTU and MSTZ in my portfolio?

MSTU and MSTZ have a correlation of -1.00, 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 MSTZ?

MSTU has higher volatility (44.20%) compared to MSTZ (42.31%). In terms of maximum drawdown, MSTU dropped -99.06% vs MSTZ's -99.38%.

Which ETF is better, MSTU or MSTZ?

On 1-year performance, MSTZ leads with 138.79% vs -96.65% for MSTU. Both ETFs have the same 1.05% expense ratio. On volatility, MSTZ has been the lower-risk option at 42.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTU or MSTZ?

Over the 1-year period, MSTZ has performed better with a 138.79% return vs -96.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTU or MSTZ?

MSTU and MSTZ have the same expense ratio: 1.05% per year.

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

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

What is the main difference between MSTU and MSTZ?

MSTU is categorized as Leveraged Equities, while MSTZ is Inverse Equities. They also come from different issuers: T-Rex and REX.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (0.97 vs -0.68), 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.