QQDN vs. MSTZ

Last updated Aug 2, 2026

QQDN (ProShares UltraShort QQQ Mega) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both Inverse Equities funds. QQDN is passively managed, while MSTZ is actively managed. Over the past year, QQDN returned -33.23% vs 159.07% for MSTZ. Their 0.45 correlation means their historical movements had little consistent relationship. QQDN charges 0.95%/yr vs 1.05%/yr for MSTZ.

Performance

QQDN vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort QQQ Mega (QQDN) 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, QQDN achieves a -13.18% return, which is significantly higher than MSTZ's -30.44% return.

QQDN

• 1D: -5.15%
• 1M: -7.09%
• 6M: -15.46%
• YTD: -13.18%
• 1Y: -33.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -39.24%

MSTZ

• 1D: 8.95%
• 1M: 7.38%
• 6M: -24.16%
• YTD: -30.44%
• 1Y: 159.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -86.57%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	$101.73M	$133.33M	$177.41M
QQDN ProShares UltraShort QQQ Mega	$29.10K	$31.97K	$57.01K

QQDN vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025
QQDN ProShares UltraShort QQQ Mega	-13.18%	-34.51%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-30.44%	270.41%

Correlation

The correlation between QQDN and MSTZ is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.45

Return for Risk

QQDN vs. MSTZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQDN

QQDN Risk / Return Rank: 4
QQDN Sharpe Ratio Rank: 3
QQDN Sortino Ratio Rank: 4
QQDN Omega Ratio Rank: 4
QQDN Calmar Ratio Rank: 4
QQDN Martin Ratio Rank: 3

MSTZ

MSTZ Risk / Return Rank: 61
MSTZ Sharpe Ratio Rank: 58
MSTZ Sortino Ratio Rank: 68
MSTZ Omega Ratio Rank: 68
MSTZ Calmar Ratio Rank: 70
MSTZ Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQDN vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ Mega (QQDN) 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.

	QQDN	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	1.38	-2.08
Sortino ratio: Return per unit of downside risk	-0.87	2.22	-3.09
Omega ratio: Gain probability vs. loss probability	0.91	1.28	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.68	2.44	-3.12
Martin ratio: Return relative to average drawdown	-1.18	4.53	-5.72

QQDN vs. MSTZ - Sharpe Ratio Comparison

The current QQDN Sharpe Ratio is -0.70, which is lower than the MSTZ Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of QQDN 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

QQDN vs. MSTZ - Drawdown Comparison

The maximum QQDN drawdown since its inception was -50.19%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for QQDN and MSTZ.

Drawdown Indicators

	QQDN	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-50.19%	-99.38%	+49.19%
Max Drawdown (1Y) Largest decline over 1 year	-43.68%	-84.89%	+41.21%
Current Drawdown Current decline from peak	-44.25%	-97.63%	+53.38%
Average Drawdown Average peak-to-trough decline	-31.57%	-94.63%	+63.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.92%	45.62%	-20.70%

Volatility

QQDN vs. MSTZ - Volatility Comparison

The current volatility for ProShares UltraShort QQQ Mega (QQDN) is 14.41%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.86%. This indicates that QQDN 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

	QQDN	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.41%	37.86%	-23.45%
Volatility (6M) Calculated over the trailing 6-month period	32.99%	134.52%	-101.53%
Volatility (1Y) Calculated over the trailing 1-year period	42.40%	150.23%	-107.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.84%	169.87%	-129.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.84%	169.87%	-129.03%

QQDN vs. MSTZ - Expense Ratio Comparison

QQDN has a 0.95% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

QQDN vs. MSTZ - Dividend Comparison

QQDN's dividend yield for the trailing twelve months is around 5.67%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%
QQDN ProShares UltraShort QQQ Mega	5.67%	3.42%

Frequently Asked Questions

Can I hold both QQDN and MSTZ in my portfolio?

QQDN and MSTZ have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQDN or MSTZ?

MSTZ has higher volatility (37.86%) compared to QQDN (14.41%). In terms of maximum drawdown, QQDN dropped -50.19% vs MSTZ's -99.38%.

Which ETF is better, QQDN or MSTZ?

On 1-year performance, MSTZ leads with 159.07% vs -33.23% for QQDN. On fees, QQDN is cheaper at 0.95% per year. On volatility, QQDN has been the lower-risk option at 14.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQDN or MSTZ?

Over the 1-year period, MSTZ has performed better with a 159.07% return vs -33.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQDN or MSTZ?

QQDN is cheaper with a 0.95% expense ratio, compared with 1.05% for MSTZ.

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

QQDN has the higher dividend yield at 5.67%, compared with 0.00% for MSTZ.

What is the main difference between QQDN and MSTZ?

They also come from different issuers: ProShares and REX. Their fees differ too: 0.95% for QQDN and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.38 vs -0.70), 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.