SMHX vs. MSTZ

Last updated Jul 16, 2026

SMHX (VanEck Fabless Semiconductor ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - SMHX is a Semiconductors fund tracking the MarketVector™ US Listed Fabless Semiconductor Index, while MSTZ is a Inverse Equities fund actively managed by REX. SMHX is passively managed, while MSTZ is actively managed. Over the past year, SMHX returned 84.03% vs 252.57% for MSTZ. At a correlation of -0.41, they often move in opposite directions. SMHX charges 0.35%/yr vs 1.05%/yr for MSTZ.

Performance

SMHX vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Fabless Semiconductor ETF (SMHX) 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, SMHX achieves a 55.01% return, which is significantly higher than MSTZ's -31.95% return.

SMHX

• 1D: -1.24%
• 1M: -9.81%
• 6M: 51.58%
• YTD: 55.01%
• 1Y: 84.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: -0.09%
• 1M: 46.79%
• 6M: 0.09%
• YTD: -31.95%
• 1Y: 252.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMHX vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMHX VanEck Fabless Semiconductor ETF	55.01%	30.00%	19.67%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-31.95%	-38.95%	-94.43%

Correlation

The correlation between SMHX and MSTZ is -0.40, 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	-0.40
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.41

Return for Risk

SMHX vs. MSTZ — Risk / Return Rank

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

SMHX

SMHX Risk / Return Rank: 81
SMHX Sharpe Ratio Rank: 86
SMHX Sortino Ratio Rank: 73
SMHX Omega Ratio Rank: 74
SMHX Calmar Ratio Rank: 93
SMHX Martin Ratio Rank: 81

MSTZ

MSTZ Risk / Return Rank: 61
MSTZ Sharpe Ratio Rank: 65
MSTZ Sortino Ratio Rank: 62
MSTZ Omega Ratio Rank: 64
MSTZ Calmar Ratio Rank: 73
MSTZ Martin Ratio Rank: 43

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.

SMHX vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) 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.

	SMHX	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.71	+0.50
Sortino ratio: Return per unit of downside risk	2.62	2.37	+0.25
Omega ratio: Gain probability vs. loss probability	1.34	1.31	+0.04
Calmar ratio: Return relative to maximum drawdown	4.95	3.00	+1.96
Martin ratio: Return relative to average drawdown	12.24	5.79	+6.44

SMHX vs. MSTZ - Sharpe Ratio Comparison

The current SMHX Sharpe Ratio is 2.21, which is comparable to the MSTZ Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of SMHX 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

SMHX vs. MSTZ - Drawdown Comparison

The maximum SMHX drawdown since its inception was -38.53%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for SMHX and MSTZ.

Drawdown Indicators

	SMHX	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-38.53%	-99.38%	+60.85%
Max Drawdown (1Y) Largest decline over 1 year	-17.06%	-84.89%	+67.83%
Current Drawdown Current decline from peak	-13.13%	-97.68%	+84.55%
Average Drawdown Average peak-to-trough decline	-7.45%	-94.55%	+87.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.89%	43.81%	-36.92%

Volatility

SMHX vs. MSTZ - Volatility Comparison

The current volatility for VanEck Fabless Semiconductor ETF (SMHX) is 16.00%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 56.66%. This indicates that SMHX 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

	SMHX	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.00%	56.66%	-40.66%
Volatility (6M) Calculated over the trailing 6-month period	31.78%	135.05%	-103.27%
Volatility (1Y) Calculated over the trailing 1-year period	38.21%	148.51%	-110.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.74%	170.85%	-129.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.74%	170.85%	-129.11%

SMHX vs. MSTZ - Expense Ratio Comparison

SMHX has a 0.35% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

SMHX vs. MSTZ - Dividend Comparison

SMHX's dividend yield for the trailing twelve months is around 0.02%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%
SMHX VanEck Fabless Semiconductor ETF	0.02%	0.02%	0.04%

Frequently Asked Questions

Can I hold both SMHX and MSTZ in my portfolio?

SMHX and MSTZ have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMHX or MSTZ?

MSTZ has higher volatility (56.66%) compared to SMHX (16.00%). In terms of maximum drawdown, SMHX dropped -38.53% vs MSTZ's -99.38%.

Which ETF is better, SMHX or MSTZ?

On 1-year performance, MSTZ leads with 252.57% vs 84.03% for SMHX. On fees, SMHX is cheaper at 0.35% per year. On volatility, SMHX has been the lower-risk option at 16.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMHX or MSTZ?

Over the 1-year period, MSTZ has performed better with a 252.57% return vs 84.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMHX or MSTZ?

SMHX is cheaper with a 0.35% expense ratio, compared with 1.05% for MSTZ.

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

SMHX has the higher dividend yield at 0.02%, compared with 0.00% for MSTZ.

What is the main difference between SMHX and MSTZ?

SMHX is categorized as Semiconductors, while MSTZ is Inverse Equities. They also come from different issuers: VanEck and REX. Their fees differ too: 0.35% for SMHX and 1.05% for MSTZ.

Which has better risk-adjusted returns?

SMHX currently has the higher Sharpe Ratio (2.21 vs 1.71), 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.