NFXS vs. MSTZ

Last updated Apr 17, 2026

NFXS (Direxion Daily NFLX Bear 1X Shares) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, NFXS returned -13.57% vs -17.18% for MSTZ. At 0.32, their price movements are largely independent. NFXS charges 1.03%/yr vs 1.05%/yr for MSTZ.

Performance

NFXS vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NFLX Bear 1X Shares (NFXS) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFXS achieves a -15.14% return, which is significantly higher than MSTZ's -62.62% return.

NFXS

• 1D: -0.14%
• 1M: -12.63%
• YTD: -15.14%
• 6M: 5.45%
• 1Y: -13.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: -23.78%
• 1M: -36.47%
• YTD: -62.62%
• 6M: 5.25%
• 1Y: -17.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NFXS vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFXS Direxion Daily NFLX Bear 1X Shares	-15.14%	-8.56%	-21.19%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-62.62%	-38.95%	-90.53%

Correlation

The correlation between NFXS and MSTZ is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.32

Return for Risk

NFXS vs. MSTZ — Risk / Return Rank

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

NFXS

NFXS Risk / Return Rank: 3
NFXS Sharpe Ratio Rank: 3
NFXS Sortino Ratio Rank: 3
NFXS Omega Ratio Rank: 3
NFXS Calmar Ratio Rank: 3
NFXS Martin Ratio Rank: 2

MSTZ

MSTZ Risk / Return Rank: 8
MSTZ Sharpe Ratio Rank: 5
MSTZ Sortino Ratio Rank: 13
MSTZ Omega Ratio Rank: 13
MSTZ Calmar Ratio Rank: 4
MSTZ Martin Ratio Rank: 4

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.

NFXS vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bear 1X Shares (NFXS) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). 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.

	NFXS	MSTZ	Difference
Sharpe ratio Return per unit of total volatility	-0.43	-0.13	-0.30
Sortino ratio Return per unit of downside risk	-0.41	0.83	-1.24
Omega ratio Gain probability vs. loss probability	0.95	1.11	-0.16
Calmar ratio Return relative to maximum drawdown	-0.53	-0.27	-0.26
Martin ratio Return relative to average drawdown	-0.95	-0.52	-0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFXS vs. MSTZ - Sharpe Ratio Comparison

The current NFXS Sharpe Ratio is -0.43, which is lower than the MSTZ Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of NFXS and MSTZ, 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

	NFXS	MSTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.43	-0.13	-0.30
Sharpe Ratio (All Time) Calculated using the full available price history	-0.80	-0.54	-0.26

Drawdowns

NFXS vs. MSTZ - Drawdown Comparison

The maximum NFXS drawdown since its inception was -50.37%, smaller than the maximum MSTZ drawdown of -99.36%. Use the drawdown chart below to compare losses from any high point for NFXS and MSTZ.

Drawdown Indicators

	NFXS	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-50.37%	-99.36%	+48.99%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	-77.04%	+45.73%
Current Drawdown Current decline from peak	-40.48%	-98.69%	+58.21%
Average Drawdown Average peak-to-trough decline	-32.72%	-94.03%	+61.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.38%	39.99%	-22.61%

Volatility

NFXS vs. MSTZ - Volatility Comparison

The current volatility for Direxion Daily NFLX Bear 1X Shares (NFXS) is 7.70%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 39.84%. This indicates that NFXS experiences smaller price fluctuations and is considered to be less risky than MSTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFXS	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.70%	39.84%	-32.14%
Volatility (6M) Calculated over the trailing 6-month period	27.32%	125.09%	-97.77%
Volatility (1Y) Calculated over the trailing 1-year period	32.14%	135.99%	-103.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.49%	172.39%	-137.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.49%	172.39%	-137.90%

NFXS vs. MSTZ - Expense Ratio Comparison

NFXS has a 1.03% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

NFXS vs. MSTZ - Dividend Comparison

NFXS's dividend yield for the trailing twelve months is around 3.68%, while MSTZ has not paid dividends to shareholders.

	TTM	2025	2024
NFXS Direxion Daily NFLX Bear 1X Shares	3.68%	3.53%	0.87%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%