MSTZ vs. SEF

Last updated Apr 1, 2026

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

MSTZ and SEF 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. SEF is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Financials Index (-100%). It was launched on Jun 12, 2008.

Performance

MSTZ vs. SEF - 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 Financials (SEF). The values are adjusted to include any dividend payments, if applicable.

MSTZ vs. SEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-27.23%	-38.95%	-94.26%
SEF ProShares Short Financials	11.27%	-9.82%	-5.81%

Returns By Period

In the year-to-date period, MSTZ achieves a -27.23% return, which is significantly lower than SEF's 11.27% return.

MSTZ

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

SEF

• 1D: -2.13%
• 1M: 3.96%
• YTD: 11.27%
• 6M: 10.38%
• 1Y: 2.76%
• 3Y*: -10.01%
• 5Y*: -6.70%
• 10Y*: -11.67%

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

MSTZ vs. SEF - Expense Ratio Comparison

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

MSTZ

T-REX 2X Inverse MSTR Daily Target ETF

SEF

ProShares Short Financials

Return for Risk

MSTZ vs. SEF — 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

SEF

SEF Risk / Return Rank: 15
SEF Sharpe Ratio Rank: 15
SEF Sortino Ratio Rank: 16
SEF Omega Ratio Rank: 16
SEF Calmar Ratio Rank: 13
SEF Martin Ratio Rank: 13

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. SEF - 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 Financials (SEF). 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	SEF	Difference
Sharpe ratio Return per unit of total volatility	-0.08	0.14	-0.22
Sortino ratio Return per unit of downside risk	1.02	0.36	+0.66
Omega ratio Gain probability vs. loss probability	1.14	1.05	+0.09
Calmar ratio Return relative to maximum drawdown	-0.12	0.08	-0.20
Martin ratio Return relative to average drawdown	-0.17	0.11	-0.27
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. SEF - Sharpe Ratio Comparison

The current MSTZ Sharpe Ratio is -0.08, which is lower than the SEF Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of MSTZ and SEF, 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	SEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	0.14	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.37	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	-0.49	-0.04

Correlation

The correlation between MSTZ and SEF is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MSTZ vs. SEF - Dividend Comparison

MSTZ has not paid dividends to shareholders, while SEF's dividend yield for the trailing twelve months is around 3.27%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
SEF ProShares Short Financials	3.27%	4.33%	5.72%	4.43%	0.39%	0.00%	0.12%	1.25%	0.41%

Drawdowns

MSTZ vs. SEF - Drawdown Comparison

The maximum MSTZ drawdown since its inception was -99.36%, roughly equal to the maximum SEF drawdown of -96.51%. Use the drawdown chart below to compare losses from any high point for MSTZ and SEF.

Drawdown Indicators

	MSTZ	SEF	Difference
Max Drawdown Largest peak-to-trough decline	-99.36%	-96.51%	-2.85%
Max Drawdown (1Y) Largest decline over 1 year	-83.20%	-20.21%	-62.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-41.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.66%	—
Current Drawdown Current decline from peak	-97.45%	-96.00%	-1.45%
Average Drawdown Average peak-to-trough decline	-93.91%	-82.58%	-11.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	61.32%	14.44%	+46.88%

Volatility

MSTZ vs. SEF - Volatility Comparison

T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a higher volatility of 38.43% compared to ProShares Short Financials (SEF) at 4.86%. This indicates that MSTZ's price experiences larger fluctuations and is considered to be riskier than SEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTZ	SEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	38.43%	4.86%	+33.57%
Volatility (6M) Calculated over the trailing 6-month period	122.48%	11.37%	+111.11%
Volatility (1Y) Calculated over the trailing 1-year period	147.15%	19.28%	+127.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	173.11%	17.99%	+155.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	173.11%	20.55%	+152.56%