MSTZ vs. CEPI

Last updated Jun 4, 2026

MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) and CEPI (REX Crypto Equity Premium Income ETF) are both exchange-traded funds - MSTZ is a Inverse Equities fund actively managed by REX, while CEPI is a Cryptocurrency fund actively managed by REX. Both are actively managed. Over the past year, MSTZ returned 94.24% vs 34.07% for CEPI. At a correlation of -0.70, they often move in opposite directions. MSTZ charges 1.05%/yr vs 0.85%/yr for CEPI.

Performance

MSTZ vs. CEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) and REX Crypto Equity Premium Income ETF (CEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTZ achieves a -46.88% return, which is significantly lower than CEPI's 20.71% return.

MSTZ

• 1D: 14.02%
• 1M: 86.49%
• YTD: -46.88%
• 6M: -23.06%
• 1Y: 94.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CEPI

• 1D: -1.35%
• 1M: 7.21%
• YTD: 20.71%
• 6M: 18.40%
• 1Y: 34.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTZ vs. CEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-46.88%	-38.95%	52.66%
CEPI REX Crypto Equity Premium Income ETF	20.71%	10.75%	-9.02%

Correlation

The correlation between MSTZ and CEPI is -0.70, 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	-0.70
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	-0.70

The correlation between MSTZ and CEPI has been stable across timeframes, ranging from -0.70 to -0.70 - a consistent structural relationship.

Return for Risk

MSTZ vs. CEPI — Risk / Return Rank

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

MSTZ

MSTZ Risk / Return Rank: 26
MSTZ Sharpe Ratio Rank: 20
MSTZ Sortino Ratio Rank: 32
MSTZ Omega Ratio Rank: 34
MSTZ Calmar Ratio Rank: 24
MSTZ Martin Ratio Rank: 20

CEPI

CEPI Risk / Return Rank: 32
CEPI Sharpe Ratio Rank: 35
CEPI Sortino Ratio Rank: 33
CEPI Omega Ratio Rank: 36
CEPI Calmar Ratio Rank: 31
CEPI 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.

MSTZ vs. CEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) and REX Crypto Equity Premium Income ETF (CEPI). 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.

	MSTZ	CEPI	Difference
Sharpe ratio Return per unit of total volatility	0.68	1.28	-0.61
Sortino ratio Return per unit of downside risk	1.74	1.78	-0.04
Omega ratio Gain probability vs. loss probability	1.23	1.24	-0.01
Calmar ratio Return relative to maximum drawdown	1.12	1.52	-0.41
Martin ratio Return relative to average drawdown	2.35	3.62	-1.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTZ vs. CEPI - Sharpe Ratio Comparison

The current MSTZ Sharpe Ratio is 0.68, which is lower than the CEPI Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of MSTZ and CEPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSTZ	CEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	1.28	-0.61
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	0.45	-0.98

Drawdowns

MSTZ vs. CEPI - Drawdown Comparison

The maximum MSTZ drawdown since its inception was -99.36%, which is greater than CEPI's maximum drawdown of -29.48%. Use the drawdown chart below to compare losses from any high point for MSTZ and CEPI.

Drawdown Indicators

	MSTZ	CEPI	Difference
Max Drawdown Largest peak-to-trough decline	-99.36%	-29.48%	-69.88%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	-22.47%	-62.42%
Current Drawdown Current decline from peak	-98.14%	-2.08%	-96.06%
Average Drawdown Average peak-to-trough decline	-94.39%	-8.65%	-85.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.30%	9.43%	+30.87%

Volatility

MSTZ vs. CEPI - Volatility Comparison

T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a higher volatility of 37.49% compared to REX Crypto Equity Premium Income ETF (CEPI) at 5.92%. This indicates that MSTZ's price experiences larger fluctuations and is considered to be riskier than CEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTZ	CEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	37.49%	5.92%	+31.57%
Volatility (6M) Calculated over the trailing 6-month period	125.82%	20.94%	+104.88%
Volatility (1Y) Calculated over the trailing 1-year period	140.34%	26.79%	+113.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	170.37%	31.57%	+138.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	170.37%	31.57%	+138.80%

MSTZ vs. CEPI - Expense Ratio Comparison

MSTZ has a 1.05% expense ratio, which is higher than CEPI's 0.85% expense ratio.

Dividends

MSTZ vs. CEPI - Dividend Comparison

MSTZ has not paid dividends to shareholders, while CEPI's dividend yield for the trailing twelve months is around 42.71%.

Position	TTM	2025
CEPI REX Crypto Equity Premium Income ETF	42.71%	50.78%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSTZ and CEPI in my portfolio?

MSTZ and CEPI have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTZ or CEPI?

MSTZ has higher volatility (37.49%) compared to CEPI (5.92%). In terms of maximum drawdown, MSTZ dropped -99.36% vs CEPI's -29.48%.

Which ETF is better, MSTZ or CEPI?

On 1-year performance, MSTZ leads with 94.24% vs 34.07% for CEPI. On fees, CEPI is cheaper at 0.85% per year. On volatility, CEPI has been the lower-risk option at 5.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTZ or CEPI?

Over the 1-year period, MSTZ has performed better with a 94.24% return vs 34.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTZ or CEPI?

CEPI is cheaper with a 0.85% expense ratio, compared with 1.05% for MSTZ.

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

CEPI has the higher dividend yield at 42.71%, compared with 0.00% for MSTZ.

What is the main difference between MSTZ and CEPI?

MSTZ is categorized as Inverse Equities, while CEPI is Cryptocurrency. Their fees differ too: 1.05% for MSTZ and 0.85% for CEPI.

Which has better risk-adjusted returns?

CEPI currently has the higher Sharpe Ratio (1.28 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.