MSTZ vs. MSDD

Last updated Jun 24, 2026

MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) and MSDD (GraniteShares 2x Short MSTR Daily ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, MSTZ returned 138.79% vs 69.58% for MSDD. With a 0.97 correlation, they move nearly in lockstep. MSTZ charges 1.05%/yr vs 1.50%/yr for MSDD.

Performance

MSTZ vs. MSDD - 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 GraniteShares 2x Short MSTR Daily ETF (MSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTZ achieves a -28.57% return, which is significantly higher than MSDD's -48.72% return.

MSTZ

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

MSDD

• 1D: 0.00%
• 1M: 44.94%
• YTD: -48.72%
• 6M: -45.00%
• 1Y: 69.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTZ vs. MSDD - Yearly Performance Comparison

	2026 (YTD)	2025
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-28.57%	277.75%
MSDD GraniteShares 2x Short MSTR Daily ETF	-48.72%	274.52%

Correlation

The correlation between MSTZ and MSDD is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	0.97

The correlation between MSTZ and MSDD has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

MSTZ vs. MSDD — Risk / Return Rank

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

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

MSDD

MSDD Risk / Return Rank: 24
MSDD Sharpe Ratio Rank: 17
MSDD Sortino Ratio Rank: 32
MSDD Omega Ratio Rank: 33
MSDD Calmar Ratio Rank: 20
MSDD Martin Ratio Rank: 16

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. MSDD - 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 GraniteShares 2x Short MSTR Daily ETF (MSDD). 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.

	MSTZ	MSDD	Difference
Sharpe ratio: Return per unit of total volatility	0.97	0.50	+0.48
Sortino ratio: Return per unit of downside risk	1.98	1.61	+0.36
Omega ratio: Gain probability vs. loss probability	1.25	1.21	+0.04
Calmar ratio: Return relative to maximum drawdown	1.64	0.82	+0.82
Martin ratio: Return relative to average drawdown	3.27	1.63	+1.64

MSTZ vs. MSDD - Sharpe Ratio Comparison

The current MSTZ Sharpe Ratio is 0.97, which is higher than the MSDD Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of MSTZ and MSDD, 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

MSTZ vs. MSDD - Drawdown Comparison

The maximum MSTZ drawdown since its inception was -99.38%, which is greater than MSDD's maximum drawdown of -84.91%. Use the drawdown chart below to compare losses from any high point for MSTZ and MSDD.

Drawdown Indicators

	MSTZ	MSDD	Difference
Max Drawdown Largest peak-to-trough decline	-99.38%	-84.91%	-14.47%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	-84.91%	+0.02%
Current Drawdown Current decline from peak	-97.57%	-68.63%	-28.94%
Average Drawdown Average peak-to-trough decline	-94.45%	-31.26%	-63.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.87%	43.14%	-0.27%

Volatility

MSTZ vs. MSDD - Volatility Comparison

T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a higher volatility of 42.31% compared to GraniteShares 2x Short MSTR Daily ETF (MSDD) at 32.28%. This indicates that MSTZ's price experiences larger fluctuations and is considered to be riskier than MSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTZ	MSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	42.31%	32.28%	+10.03%
Volatility (6M) Calculated over the trailing 6-month period	127.64%	124.65%	+2.99%
Volatility (1Y) Calculated over the trailing 1-year period	143.71%	140.94%	+2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	169.81%	138.85%	+30.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	169.81%	138.85%	+30.96%

MSTZ vs. MSDD - Expense Ratio Comparison

MSTZ has a 1.05% expense ratio, which is lower than MSDD's 1.50% expense ratio.

Dividends

MSTZ vs. MSDD - Dividend Comparison

Neither MSTZ nor MSDD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSTZ and MSDD in my portfolio?

With a correlation of 0.97, MSTZ and MSDD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MSTZ or MSDD?

MSTZ has higher volatility (42.31%) compared to MSDD (32.28%). In terms of maximum drawdown, MSTZ dropped -99.38% vs MSDD's -84.91%.

Which ETF is better, MSTZ or MSDD?

On 1-year performance, MSTZ leads with 138.79% vs 69.58% for MSDD. On fees, MSTZ is cheaper at 1.05% per year. On volatility, MSDD has been the lower-risk option at 32.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTZ or MSDD?

Over the 1-year period, MSTZ has performed better with a 138.79% return vs 69.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTZ or MSDD?

MSTZ is cheaper with a 1.05% expense ratio, compared with 1.50% for MSDD.

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

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

What is the main difference between MSTZ and MSDD?

They also come from different issuers: REX and GraniteShares. Their fees differ too: 1.05% for MSTZ and 1.50% for MSDD.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (0.97 vs 0.50), 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.