MSTZ vs. PSQ

Last updated Apr 1, 2026

Compare and contrast key facts about T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) and ProShares Short QQQ (PSQ).

MSTZ and PSQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSTZ is an actively managed fund by REX. It was launched on Sep 17, 2024. PSQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-100%). It was launched on Jun 19, 2006.

Performance

MSTZ vs. PSQ - 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 ProShares Short QQQ (PSQ). The values are adjusted to include any dividend payments, if applicable.

MSTZ vs. PSQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-27.23%	-38.95%	-94.26%
PSQ ProShares Short QQQ	7.10%	-15.51%	-6.60%

Returns By Period

In the year-to-date period, MSTZ achieves a -27.23% return, which is significantly lower than PSQ's 7.10% return.

MSTZ

• 1D: -5.53%
• 1M: -4.07%
• YTD: -27.23%
• 6M: 137.26%
• 1Y: -11.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSQ

• 1D: -3.36%
• 1M: 5.19%
• YTD: 7.10%
• 6M: 5.61%
• 1Y: -17.44%
• 3Y*: -14.62%
• 5Y*: -10.93%
• 10Y*: -17.21%

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

MSTZ vs. PSQ - Expense Ratio Comparison

MSTZ has a 1.05% expense ratio, which is higher than PSQ's 0.95% expense ratio.

MSTZ

T-REX 2X Inverse MSTR Daily Target ETF

PSQ

ProShares Short QQQ

Return for Risk

MSTZ vs. PSQ — Risk / Return Rank

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

MSTZ

MSTZ Risk / Return Rank: 20
MSTZ Sharpe Ratio Rank: 10
MSTZ Sortino Ratio Rank: 36
MSTZ Omega Ratio Rank: 35
MSTZ Calmar Ratio Rank: 10
MSTZ Martin Ratio Rank: 11

PSQ

PSQ Risk / Return Rank: 3
PSQ Sharpe Ratio Rank: 1
PSQ Sortino Ratio Rank: 2
PSQ Omega Ratio Rank: 1
PSQ Calmar Ratio Rank: 4
PSQ Martin Ratio Rank: 7

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. PSQ - 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 ProShares Short QQQ (PSQ). 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	PSQ	Difference
Sharpe ratio Return per unit of total volatility	-0.08	-0.78	+0.70
Sortino ratio Return per unit of downside risk	1.02	-0.98	+1.99
Omega ratio Gain probability vs. loss probability	1.14	0.86	+0.27
Calmar ratio Return relative to maximum drawdown	-0.12	-0.51	+0.39
Martin ratio Return relative to average drawdown	-0.17	-0.64	+0.47
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. PSQ - Sharpe Ratio Comparison

The current MSTZ Sharpe Ratio is -0.08, which is higher than the PSQ Sharpe Ratio of -0.78. The chart below compares the historical Sharpe Ratios of MSTZ and PSQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSTZ	PSQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	-0.78	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	-0.72	+0.20

Correlation

The correlation between MSTZ and PSQ is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MSTZ vs. PSQ - Dividend Comparison

MSTZ has not paid dividends to shareholders, while PSQ's dividend yield for the trailing twelve months is around 4.08%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSQ ProShares Short QQQ	4.08%	4.97%	7.15%	6.01%	0.35%	0.00%	0.31%	1.75%	0.95%	0.02%

Drawdowns

MSTZ vs. PSQ - Drawdown Comparison

The maximum MSTZ drawdown since its inception was -99.36%, roughly equal to the maximum PSQ drawdown of -97.99%. Use the drawdown chart below to compare losses from any high point for MSTZ and PSQ.

Drawdown Indicators

	MSTZ	PSQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.36%	-97.99%	-1.37%
Max Drawdown (1Y) Largest decline over 1 year	-83.20%	-33.97%	-49.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-54.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-87.30%	—
Current Drawdown Current decline from peak	-97.45%	-97.76%	+0.31%
Average Drawdown Average peak-to-trough decline	-93.91%	-73.76%	-20.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	61.32%	27.21%	+34.11%

Volatility

MSTZ vs. PSQ - Volatility Comparison

T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a higher volatility of 38.43% compared to ProShares Short QQQ (PSQ) at 6.57%. This indicates that MSTZ's price experiences larger fluctuations and is considered to be riskier than PSQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTZ	PSQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	38.43%	6.57%	+31.86%
Volatility (6M) Calculated over the trailing 6-month period	122.48%	12.77%	+109.71%
Volatility (1Y) Calculated over the trailing 1-year period	147.15%	22.53%	+124.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	173.11%	22.45%	+150.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	173.11%	22.21%	+150.90%