MSTZ vs. ELIS

Last updated Jun 4, 2026

MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) and ELIS (Direxion Daily LLY Bear 1X Shares) are both Inverse Equities funds. Both are actively managed. At a 0.08 correlation, their price movements are largely independent. MSTZ charges 1.05%/yr vs 0.97%/yr for ELIS.

Performance

MSTZ vs. ELIS - 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 Direxion Daily LLY Bear 1X Shares (ELIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSTZ

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

ELIS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTZ vs. ELIS - Yearly Performance Comparison

	2026 (YTD)	2025
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-46.88%	53.81%
ELIS Direxion Daily LLY Bear 1X Shares	11.37%	-29.46%

Correlation

The correlation between MSTZ and ELIS is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.08

Return for Risk

MSTZ vs. ELIS — 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

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. ELIS - 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 Direxion Daily LLY Bear 1X Shares (ELIS). 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	ELIS	Difference
Sharpe ratio Return per unit of total volatility	0.68	—	—
Sortino ratio Return per unit of downside risk	1.74	—	—
Omega ratio Gain probability vs. loss probability	1.23	—	—
Calmar ratio Return relative to maximum drawdown	1.12	—	—
Martin ratio Return relative to average drawdown	2.35	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MSTZ	ELIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	—	—

Drawdowns

Drawdown Indicators

	MSTZ	ELIS	Difference
Max Drawdown Largest peak-to-trough decline	-99.36%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	—	—
Current Drawdown Current decline from peak	-98.14%	—	—
Average Drawdown Average peak-to-trough decline	-94.39%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	40.30%	—	—

Volatility

Volatility by Period

	MSTZ	ELIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	37.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	125.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	140.34%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	170.37%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	170.37%	—	—

MSTZ vs. ELIS - Expense Ratio Comparison

MSTZ has a 1.05% expense ratio, which is higher than ELIS's 0.97% expense ratio.

Dividends

MSTZ vs. ELIS - Dividend Comparison

MSTZ has not paid dividends to shareholders, while ELIS's dividend yield for the trailing twelve months is around 5.26%.

Position	TTM	2025
ELIS Direxion Daily LLY Bear 1X Shares	5.26%	5.86%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSTZ and ELIS in my portfolio?

MSTZ and ELIS have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSTZ or ELIS?

On fees, ELIS is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSTZ or ELIS?

ELIS is cheaper with a 0.97% expense ratio, compared with 1.05% for MSTZ.

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

ELIS has the higher dividend yield at 5.26%, compared with 0.00% for MSTZ.

What is the main difference between MSTZ and ELIS?

They also come from different issuers: REX and Direxion. Their fees differ too: 1.05% for MSTZ and 0.97% for ELIS.