SMZ vs. MSTZ

Last updated Aug 1, 2026

SMZ (Tradr 2X Short SMR Daily ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both Inverse Equities funds. SMZ is passively managed, while MSTZ is actively managed. Their 0.57 correlation means they have sometimes moved together and sometimes differently. SMZ charges 1.49%/yr vs 1.05%/yr for MSTZ.

Performance

SMZ vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short SMR Daily ETF (SMZ) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMZ

• 1D: 4.06%
• 1M: 7.24%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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
SMZ Tradr 2X Short SMR Daily ETF	$795.18K	$775.91K	$1.24M

SMZ vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)
SMZ Tradr 2X Short SMR Daily ETF	-1.46%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-11.43%

Correlation

The correlation between SMZ and MSTZ is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	0.57

Return for Risk

SMZ vs. MSTZ — Risk / Return Rank

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

SMZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SMZ vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short SMR Daily ETF (SMZ) 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.

	SMZ	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.38	—
Sortino ratio: Return per unit of downside risk	—	2.22	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.44	—
Martin ratio: Return relative to average drawdown	—	4.53	—

Drawdowns

SMZ vs. MSTZ - Drawdown Comparison

The maximum SMZ drawdown since its inception was -77.30%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for SMZ and MSTZ.

Drawdown Indicators

	SMZ	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-77.30%	-99.38%	+22.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-84.89%	—
Current Drawdown Current decline from peak	-61.42%	-97.63%	+36.21%
Average Drawdown Average peak-to-trough decline	-40.92%	-94.63%	+53.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	45.62%	—

Volatility

Volatility by Period

	SMZ	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	37.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	134.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	188.99%	150.23%	+38.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	188.99%	169.87%	+19.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	188.99%	169.87%	+19.12%

SMZ vs. MSTZ - Expense Ratio Comparison

SMZ has a 1.49% expense ratio, which is higher than MSTZ's 1.05% expense ratio.

Dividends

SMZ vs. MSTZ - Dividend Comparison

Neither SMZ nor MSTZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SMZ and MSTZ in my portfolio?

SMZ and MSTZ have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMZ or MSTZ?

On fees, MSTZ is cheaper at 1.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMZ or MSTZ?

MSTZ is cheaper with a 1.05% expense ratio, compared with 1.49% for SMZ.

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

SMZ and MSTZ have nearly identical dividend yields, around 0.00%.

What is the main difference between SMZ and MSTZ?

They also come from different issuers: Tradr and REX. Their fees differ too: 1.49% for SMZ and 1.05% for MSTZ.