PBW vs. MSTZ
PBW (Invesco WilderHill Clean Energy ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - PBW is a Alternative Energy Equities fund tracking the The WilderHill Clean Energy Index (AMEX), while MSTZ is a Inverse Equities fund actively managed by REX. PBW is passively managed, while MSTZ is actively managed. Over the past year, PBW returned 46.40% vs 159.07% for MSTZ. Their -0.45 correlation means they have often moved in opposite directions in the past. PBW charges 0.61%/yr vs 1.05%/yr for MSTZ.
Performance
PBW vs. MSTZ - Performance Comparison
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Returns By Period
In the year-to-date period, PBW achieves a 5.86% return, which is significantly higher than MSTZ's -30.44% return.
PBW
- 1D
- 0.16%
- 1M
- -12.22%
- 6M
- -4.18%
- YTD
- 5.86%
- 1Y
- 46.40%
- 3Y*
- -7.64%
- 5Y*
- -15.46%
- 10Y*
- 7.09%
- ALL TIME*
- -2.58%
MSTZ
- 1D
- 8.95%
- 1M
- 7.38%
- 6M
- -24.16%
- YTD
- -30.44%
- 1Y
- 159.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -86.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $101.73M | $133.33M | $177.41M | |
| $37.14M | $32.16M | $36.05M |
PBW vs. MSTZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PBW Invesco WilderHill Clean Energy ETF | 5.86% | 53.96% | 3.86% |
MSTZ T-REX 2X Inverse MSTR Daily Target ETF | -30.44% | -38.95% | -94.43% |
Correlation
The correlation between PBW and MSTZ is -0.50, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024 | -0.45 |
The correlation between PBW and MSTZ has been stable across timeframes, ranging from -0.50 to -0.45 - a consistent structural relationship.
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Return for Risk
PBW vs. MSTZ — Risk / Return Rank
PBW
MSTZ
PBW vs. MSTZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco WilderHill Clean Energy ETF (PBW) 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.
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.
| PBW | MSTZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.28 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 2.44 | -1.25 |
| Martin ratioReturn relative to average drawdown | 3.64 | 4.53 | -0.89 |
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Drawdowns
PBW vs. MSTZ - Drawdown Comparison
The maximum PBW drawdown since its inception was -89.02%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for PBW and MSTZ.
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Drawdown Indicators
| PBW | MSTZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.02% | -99.38% | +10.36% |
Max Drawdown (1Y)Largest decline over 1 year | -36.09% | -84.89% | +48.80% |
Max Drawdown (3Y)Largest decline over 3 years | -65.32% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -84.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.02% | — | — |
Current DrawdownCurrent decline from peak | -73.32% | -97.63% | +24.31% |
Average DrawdownAverage peak-to-trough decline | -62.94% | -94.63% | +31.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.82% | 45.62% | -33.80% |
Volatility
PBW vs. MSTZ - Volatility Comparison
The current volatility for Invesco WilderHill Clean Energy ETF (PBW) is 14.90%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.86%. This indicates that PBW 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.
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Volatility by Period
| PBW | MSTZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.90% | 37.86% | -22.96% |
Volatility (6M)Calculated over the trailing 6-month period | 33.63% | 134.52% | -100.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.14% | 150.23% | -106.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.61% | 169.87% | -126.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.25% | 169.87% | -130.62% |
PBW vs. MSTZ - Expense Ratio Comparison
PBW has a 0.61% expense ratio, which is lower than MSTZ's 1.05% expense ratio.
Dividends
PBW vs. MSTZ - Dividend Comparison
PBW's dividend yield for the trailing twelve months is around 1.47%, while MSTZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
PBW Invesco WilderHill Clean Energy ETF | 1.47% | 0.79% | 2.84% | 3.68% | 4.21% | 1.71% | 0.44% | 1.45% | 2.04% | 1.28% | 2.68% | 1.53% |
Frequently Asked Questions
PBW and MSTZ have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTZ has higher volatility (37.86%) compared to PBW (14.90%). In terms of maximum drawdown, PBW dropped -89.02% vs MSTZ's -99.38%.
On 1-year performance, MSTZ leads with 159.07% vs 46.40% for PBW. On fees, PBW is cheaper at 0.61% per year. On volatility, PBW has been the lower-risk option at 14.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MSTZ has performed better with a 159.07% return vs 46.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBW is cheaper with a 0.61% expense ratio, compared with 1.05% for MSTZ.
PBW has the higher dividend yield at 1.47%, compared with 0.00% for MSTZ.
PBW is categorized as Alternative Energy Equities, while MSTZ is Inverse Equities. They also come from different issuers: Invesco and REX. Their fees differ too: 0.61% for PBW and 1.05% for MSTZ.
MSTZ currently has the higher Sharpe Ratio (1.38 vs 0.98), 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.
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