NVDX vs. MSTZ

Last updated Jun 3, 2026

NVDX (T-REX 2X Long NVIDIA Daily Target ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - NVDX is a Leveraged Equities fund actively managed by REX, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, NVDX returned 99.01% vs 56.67% for MSTZ. At a correlation of -0.35, they often move in opposite directions. Both charge a 1.05% expense ratio.

Performance

NVDX vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long NVIDIA Daily Target ETF (NVDX) 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, NVDX achieves a 26.23% return, which is significantly higher than MSTZ's -53.41% return.

NVDX

• 1D: -1.37%
• 1M: 22.92%
• YTD: 26.23%
• 6M: 30.31%
• 1Y: 99.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: 18.20%
• 1M: 51.33%
• YTD: -53.41%
• 6M: -37.72%
• 1Y: 56.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDX vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVDX T-REX 2X Long NVIDIA Daily Target ETF	26.23%	26.24%	28.97%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-53.41%	-38.95%	-94.26%

Correlation

The correlation between NVDX and MSTZ is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.33
Correlation (All Time) Calculated using the full available price history since Sep 19, 2024	-0.35

Return for Risk

NVDX vs. MSTZ — Risk / Return Rank

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

NVDX

NVDX Risk / Return Rank: 40
NVDX Sharpe Ratio Rank: 41
NVDX Sortino Ratio Rank: 40
NVDX Omega Ratio Rank: 37
NVDX Calmar Ratio Rank: 48
NVDX Martin Ratio Rank: 35

MSTZ

MSTZ Risk / Return Rank: 21
MSTZ Sharpe Ratio Rank: 15
MSTZ Sortino Ratio Rank: 28
MSTZ Omega Ratio Rank: 29
MSTZ Calmar Ratio Rank: 17
MSTZ Martin Ratio Rank: 15

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.

NVDX vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long NVIDIA Daily Target ETF (NVDX) 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.

	NVDX	MSTZ	Difference
Sharpe ratio Return per unit of total volatility	1.46	0.41	+1.06
Sortino ratio Return per unit of downside risk	2.07	1.52	+0.55
Omega ratio Gain probability vs. loss probability	1.25	1.19	+0.05
Calmar ratio Return relative to maximum drawdown	2.43	0.64	+1.79
Martin ratio Return relative to average drawdown	5.53	1.35	+4.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDX vs. MSTZ - Sharpe Ratio Comparison

The current NVDX Sharpe Ratio is 1.46, which is higher than the MSTZ Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of NVDX 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

	NVDX	MSTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	0.41	+1.06
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	-0.54	+2.05

Drawdowns

NVDX vs. MSTZ - Drawdown Comparison

The maximum NVDX drawdown since its inception was -68.19%, smaller than the maximum MSTZ drawdown of -99.36%. Use the drawdown chart below to compare losses from any high point for NVDX and MSTZ.

Drawdown Indicators

	NVDX	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-68.19%	-99.36%	+31.17%
Max Drawdown (1Y) Largest decline over 1 year	-43.76%	-84.89%	+41.13%
Current Drawdown Current decline from peak	-12.08%	-98.37%	+86.29%
Average Drawdown Average peak-to-trough decline	-20.28%	-94.38%	+74.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.24%	40.08%	-20.84%

Volatility

NVDX vs. MSTZ - Volatility Comparison

The current volatility for T-REX 2X Long NVIDIA Daily Target ETF (NVDX) is 23.25%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.37%. This indicates that NVDX 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

	NVDX	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.25%	37.37%	-14.12%
Volatility (6M) Calculated over the trailing 6-month period	50.41%	125.27%	-74.86%
Volatility (1Y) Calculated over the trailing 1-year period	68.12%	139.71%	-71.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.54%	170.21%	-74.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.54%	170.21%	-74.67%

NVDX vs. MSTZ - Expense Ratio Comparison

Both NVDX and MSTZ have an expense ratio of 1.05%.

Dividends

NVDX vs. MSTZ - Dividend Comparison

NVDX's dividend yield for the trailing twelve months is around 2.65%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%
NVDX T-REX 2X Long NVIDIA Daily Target ETF	2.65%	3.35%	15.48%

Frequently Asked Questions

Can I hold both NVDX and MSTZ in my portfolio?

NVDX and MSTZ have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDX or MSTZ?

MSTZ has higher volatility (37.37%) compared to NVDX (23.25%). In terms of maximum drawdown, NVDX dropped -68.19% vs MSTZ's -99.36%.

Which ETF is better, NVDX or MSTZ?

On 1-year performance, NVDX leads with 99.01% vs 56.67% for MSTZ. Both ETFs have the same 1.05% expense ratio. On volatility, NVDX has been the lower-risk option at 23.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDX or MSTZ?

Over the 1-year period, NVDX has performed better with a 99.01% return vs 56.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDX or MSTZ?

NVDX and MSTZ have the same expense ratio: 1.05% per year.

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

NVDX has the higher dividend yield at 2.65%, compared with 0.00% for MSTZ.

What is the main difference between NVDX and MSTZ?

NVDX is categorized as Leveraged Equities, while MSTZ is Inverse Equities.

Which has better risk-adjusted returns?

NVDX currently has the higher Sharpe Ratio (1.46 vs 0.41), 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.