PVAL vs. MSTZ

Last updated Jul 14, 2026

PVAL (Putnam Focused Large Cap Value ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - PVAL is a Large Cap Value Equities fund actively managed by Putnam, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, PVAL returned 28.14% vs 282.56% for MSTZ. At a correlation of -0.34, they often move in opposite directions. PVAL charges 0.55%/yr vs 1.05%/yr for MSTZ.

Performance

PVAL vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Focused Large Cap Value ETF (PVAL) 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, PVAL achieves a 14.45% return, which is significantly higher than MSTZ's -23.27% return.

PVAL

• 1D: 0.10%
• 1M: 1.22%
• 6M: 11.34%
• YTD: 14.45%
• 1Y: 28.14%
• 3Y*: 22.37%
• 5Y*: 16.78%
• 10Y*: —

MSTZ

• 1D: 5.07%
• 1M: 46.38%
• 6M: -9.68%
• YTD: -23.27%
• 1Y: 282.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PVAL vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PVAL Putnam Focused Large Cap Value ETF	14.45%	24.13%	-0.23%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-23.27%	-38.95%	-94.43%

Correlation

The correlation between PVAL and MSTZ is -0.37, 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	-0.37
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.34

Return for Risk

PVAL vs. MSTZ — Risk / Return Rank

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

PVAL

PVAL Risk / Return Rank: 90
PVAL Sharpe Ratio Rank: 92
PVAL Sortino Ratio Rank: 92
PVAL Omega Ratio Rank: 90
PVAL Calmar Ratio Rank: 87
PVAL Martin Ratio Rank: 88

MSTZ

MSTZ Risk / Return Rank: 68
MSTZ Sharpe Ratio Rank: 76
MSTZ Sortino Ratio Rank: 67
MSTZ Omega Ratio Rank: 68
MSTZ Calmar Ratio Rank: 80
MSTZ Martin Ratio Rank: 49

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.

PVAL vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Focused Large Cap Value ETF (PVAL) 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.

	PVAL	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.92	+0.63
Sortino ratio: Return per unit of downside risk	3.58	2.45	+1.12
Omega ratio: Gain probability vs. loss probability	1.46	1.32	+0.14
Calmar ratio: Return relative to maximum drawdown	3.91	3.35	+0.56
Martin ratio: Return relative to average drawdown	14.73	6.53	+8.20

PVAL vs. MSTZ - Sharpe Ratio Comparison

The current PVAL Sharpe Ratio is 2.55, which is higher than the MSTZ Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of PVAL 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.

Drawdowns

PVAL vs. MSTZ - Drawdown Comparison

The maximum PVAL drawdown since its inception was -16.64%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for PVAL and MSTZ.

Drawdown Indicators

	PVAL	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-16.64%	-99.38%	+82.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-84.89%	+77.67%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.64%	—	—
Current Drawdown Current decline from peak	0.00%	-97.39%	+97.39%
Average Drawdown Average peak-to-trough decline	-2.97%	-94.53%	+91.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	43.51%	-41.59%

Volatility

PVAL vs. MSTZ - Volatility Comparison

The current volatility for Putnam Focused Large Cap Value ETF (PVAL) is 3.11%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 56.56%. This indicates that PVAL 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

	PVAL	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	56.56%	-53.45%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	135.11%	-126.61%
Volatility (1Y) Calculated over the trailing 1-year period	11.12%	148.53%	-137.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.26%	171.02%	-155.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	171.02%	-155.84%

PVAL vs. MSTZ - Expense Ratio Comparison

PVAL has a 0.55% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

PVAL vs. MSTZ - Dividend Comparison

PVAL's dividend yield for the trailing twelve months is around 0.93%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PVAL Putnam Focused Large Cap Value ETF	0.93%	1.00%	1.34%	1.33%	0.59%	0.47%

Frequently Asked Questions

Can I hold both PVAL and MSTZ in my portfolio?

PVAL and MSTZ have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PVAL or MSTZ?

MSTZ has higher volatility (56.56%) compared to PVAL (3.11%). In terms of maximum drawdown, PVAL dropped -16.64% vs MSTZ's -99.38%.

Which ETF is better, PVAL or MSTZ?

On 1-year performance, MSTZ leads with 282.56% vs 28.14% for PVAL. On fees, PVAL is cheaper at 0.55% per year. On volatility, PVAL has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PVAL or MSTZ?

Over the 1-year period, MSTZ has performed better with a 282.56% return vs 28.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PVAL or MSTZ?

PVAL is cheaper with a 0.55% expense ratio, compared with 1.05% for MSTZ.

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

PVAL has the higher dividend yield at 0.93%, compared with 0.00% for MSTZ.

What is the main difference between PVAL and MSTZ?

PVAL is categorized as Large Cap Value Equities, while MSTZ is Inverse Equities. They also come from different issuers: Putnam and REX. Their fees differ too: 0.55% for PVAL and 1.05% for MSTZ.

Which has better risk-adjusted returns?

PVAL currently has the higher Sharpe Ratio (2.55 vs 1.92), 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.