PEX vs. MSTZ
PEX (ProShares Global Listed Private Equity ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - PEX is a Financials Equities fund tracking the LPX Direct Listed Private Equity Index, while MSTZ is a Inverse Equities fund actively managed by REX. PEX is passively managed, while MSTZ is actively managed. Over the past year, PEX returned -10.44% vs 159.07% for MSTZ. Their -0.37 correlation means they have often moved in opposite directions in the past. PEX charges 3.13%/yr vs 1.05%/yr for MSTZ.
Performance
PEX vs. MSTZ - Performance Comparison
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Returns By Period
In the year-to-date period, PEX achieves a -6.82% return, which is significantly higher than MSTZ's -30.44% return.
PEX
- 1D
- 0.15%
- 1M
- 3.38%
- 6M
- -7.02%
- YTD
- -6.82%
- 1Y
- -10.44%
- 3Y*
- 4.37%
- 5Y*
- -0.25%
- 10Y*
- 4.91%
- ALL TIME*
- 5.23%
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 | |
| $46.71K | $56.13K | $56.35K |
PEX vs. MSTZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | -6.82% | 0.21% | 3.21% |
MSTZ T-REX 2X Inverse MSTR Daily Target ETF | -30.44% | -38.95% | -94.43% |
Correlation
The correlation between PEX and MSTZ is -0.38, 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. | -0.38 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024 | -0.37 |
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Return for Risk
PEX vs. MSTZ — Risk / Return Rank
PEX
MSTZ
PEX vs. MSTZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Global Listed Private Equity ETF (PEX) 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.
| PEX | MSTZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.09 | ||
| Sortino ratioReturn per unit of downside risk | -3.12 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.28 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 2.44 | -2.97 |
| Martin ratioReturn relative to average drawdown | -1.04 | 4.53 | -5.57 |
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Drawdowns
PEX vs. MSTZ - Drawdown Comparison
The maximum PEX drawdown since its inception was -49.17%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for PEX and MSTZ.
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Drawdown Indicators
| PEX | MSTZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.17% | -99.38% | +50.21% |
Max Drawdown (1Y)Largest decline over 1 year | -21.09% | -84.89% | +63.80% |
Max Drawdown (3Y)Largest decline over 3 years | -24.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.17% | — | — |
Current DrawdownCurrent decline from peak | -15.79% | -97.63% | +81.84% |
Average DrawdownAverage peak-to-trough decline | -8.34% | -94.63% | +86.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.79% | 45.62% | -34.83% |
Volatility
PEX vs. MSTZ - Volatility Comparison
The current volatility for ProShares Global Listed Private Equity ETF (PEX) is 3.74%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.86%. This indicates that PEX 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
| PEX | MSTZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 37.86% | -34.12% |
Volatility (6M)Calculated over the trailing 6-month period | 13.32% | 134.52% | -121.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.89% | 150.23% | -134.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 169.87% | -151.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.26% | 169.87% | -150.61% |
PEX vs. MSTZ - Expense Ratio Comparison
PEX has a 3.13% expense ratio, which is higher than MSTZ's 1.05% expense ratio.
Dividends
PEX vs. MSTZ - Dividend Comparison
PEX's dividend yield for the trailing twelve months is around 8.52%, 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% |
PEX ProShares Global Listed Private Equity ETF | 8.52% | 12.80% | 14.11% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 3.24% | 12.50% |
Frequently Asked Questions
PEX and MSTZ have a correlation of -0.38, 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 PEX (3.74%). In terms of maximum drawdown, PEX dropped -49.17% vs MSTZ's -99.38%.
On 1-year performance, MSTZ leads with 159.07% vs -10.44% for PEX. On fees, MSTZ is cheaper at 1.05% per year. On volatility, PEX has been the lower-risk option at 3.74%. 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 -10.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MSTZ is cheaper with a 1.05% expense ratio, compared with 3.13% for PEX.
PEX has the higher dividend yield at 8.52%, compared with 0.00% for MSTZ.
PEX is categorized as Financials Equities, while MSTZ is Inverse Equities. They also come from different issuers: ProShares and REX. Their fees differ too: 3.13% for PEX and 1.05% for MSTZ.
MSTZ currently has the higher Sharpe Ratio (1.38 vs -0.71), 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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