SH vs. MSTZ
Compare and contrast key facts about ProShares Short S&P500 (SH) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ).
SH and MSTZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SH is a passively managed fund by ProShares that tracks the performance of the S&P 500 (-100%). It was launched on Jun 19, 2006. MSTZ is an actively managed fund by REX. It was launched on Sep 17, 2024.
Performance
SH vs. MSTZ - Performance Comparison
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SH vs. MSTZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SH ProShares Short S&P500 | 4.94% | -11.35% | -2.92% |
MSTZ T-REX 2X Inverse MSTR Daily Target ETF | -24.90% | -38.95% | -94.26% |
Returns By Period
In the year-to-date period, SH achieves a 4.94% return, which is significantly higher than MSTZ's -24.90% return.
SH
- 1D
- -0.79%
- 1M
- 4.70%
- YTD
- 4.94%
- 6M
- 4.06%
- 1Y
- -11.88%
- 3Y*
- -10.10%
- 5Y*
- -7.71%
- 10Y*
- -11.91%
MSTZ
- 1D
- 3.21%
- 1M
- 12.49%
- YTD
- -24.90%
- 6M
- 172.88%
- 1Y
- 4.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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SH vs. MSTZ - Expense Ratio Comparison
SH has a 0.90% expense ratio, which is lower than MSTZ's 1.05% expense ratio.
Return for Risk
SH vs. MSTZ — Risk / Return Rank
SH
MSTZ
SH vs. MSTZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P500 (SH) 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.
| SH | MSTZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.66 | 0.03 | -0.69 |
Sortino ratioReturn per unit of downside risk | -0.82 | 1.17 | -1.99 |
Omega ratioGain probability vs. loss probability | 0.88 | 1.16 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | -0.46 | -0.10 | -0.36 |
Martin ratioReturn relative to average drawdown | -0.56 | -0.13 | -0.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SH | MSTZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 0.03 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.46 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.56 | -0.53 | -0.04 |
Correlation
The correlation between SH and MSTZ is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SH vs. MSTZ - Dividend Comparison
SH's dividend yield for the trailing twelve months is around 3.95%, while MSTZ has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SH ProShares Short S&P500 | 3.95% | 4.49% | 6.20% | 5.37% | 1.08% | 0.00% | 0.16% | 1.76% | 1.01% | 0.06% |
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% |
Drawdowns
SH vs. MSTZ - Drawdown Comparison
The maximum SH drawdown since its inception was -94.26%, smaller than the maximum MSTZ drawdown of -99.36%. Use the drawdown chart below to compare losses from any high point for SH and MSTZ.
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Drawdown Indicators
| SH | MSTZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.26% | -99.36% | +5.10% |
Max Drawdown (1Y)Largest decline over 1 year | -26.61% | -83.20% | +56.59% |
Max Drawdown (5Y)Largest decline over 5 years | -40.35% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -74.31% | — | — |
Current DrawdownCurrent decline from peak | -93.87% | -97.37% | +3.50% |
Average DrawdownAverage peak-to-trough decline | -67.50% | -93.92% | +26.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.86% | 61.41% | -39.55% |
Volatility
SH vs. MSTZ - Volatility Comparison
The current volatility for ProShares Short S&P500 (SH) is 5.36%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 38.01%. This indicates that SH 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
| SH | MSTZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 38.01% | -32.65% |
Volatility (6M)Calculated over the trailing 6-month period | 9.45% | 122.49% | -113.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.18% | 147.18% | -129.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.86% | 172.91% | -156.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.99% | 172.91% | -154.92% |