SNOU vs. MSTU

Last updated Jul 17, 2026

SNOU (T-Rex 2X Long SNOW Daily Target ETF) and MSTU (T-Rex 2X Long MSTR Daily Target ETF) are both Leveraged Equities funds from T-Rex. Both are actively managed. Over the past year, SNOU returned -1.21% vs -98.28% for MSTU. At a 0.28 correlation, their price movements are largely independent. SNOU charges 1.50%/yr vs 1.05%/yr for MSTU.

Performance

SNOU vs. MSTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long SNOW Daily Target ETF (SNOU) and T-Rex 2X Long MSTR Daily Target ETF (MSTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNOU achieves a 8.92% return, which is significantly higher than MSTU's -77.92% return.

SNOU

• 1D: -2.33%
• 1M: 24.47%
• 6M: 22.78%
• YTD: 8.92%
• 1Y: -1.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTU

• 1D: -7.32%
• 1M: -46.50%
• 6M: -82.03%
• YTD: -77.92%
• 1Y: -98.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SNOU vs. MSTU - Yearly Performance Comparison

	2026 (YTD)	2025
SNOU T-Rex 2X Long SNOW Daily Target ETF	8.92%	63.07%
MSTU T-Rex 2X Long MSTR Daily Target ETF	-77.92%	-87.97%

Correlation

The correlation between SNOU and MSTU is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Apr 24, 2025	0.28

Return for Risk

SNOU vs. MSTU — Risk / Return Rank

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

SNOU

SNOU Risk / Return Rank: 15
SNOU Sharpe Ratio Rank: 10
SNOU Sortino Ratio Rank: 22
SNOU Omega Ratio Rank: 22
SNOU Calmar Ratio Rank: 10
SNOU Martin Ratio Rank: 9

MSTU

MSTU Risk / Return Rank: 1
MSTU Sharpe Ratio Rank: 4
MSTU Sortino Ratio Rank: 0
MSTU Omega Ratio Rank: 0
MSTU Calmar Ratio Rank: 0
MSTU Martin Ratio Rank: 3

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.

SNOU vs. MSTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long SNOW Daily Target ETF (SNOU) and T-Rex 2X Long MSTR Daily Target ETF (MSTU). 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.

	SNOU	MSTU	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	-0.67	+0.66
Sortino ratio: Return per unit of downside risk	1.03	-2.76	+3.79
Omega ratio: Gain probability vs. loss probability	1.13	0.72	+0.41
Calmar ratio: Return relative to maximum drawdown	-0.01	-1.00	+0.98
Martin ratio: Return relative to average drawdown	-0.03	-1.20	+1.17

SNOU vs. MSTU - Sharpe Ratio Comparison

The current SNOU Sharpe Ratio is -0.01, which is higher than the MSTU Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of SNOU and MSTU, 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

SNOU vs. MSTU - Drawdown Comparison

The maximum SNOU drawdown since its inception was -84.17%, smaller than the maximum MSTU drawdown of -99.43%. Use the drawdown chart below to compare losses from any high point for SNOU and MSTU.

Drawdown Indicators

	SNOU	MSTU	Difference
Max Drawdown Largest peak-to-trough decline	-84.17%	-99.43%	+15.26%
Max Drawdown (1Y) Largest decline over 1 year	-84.17%	-98.60%	+14.43%
Current Drawdown Current decline from peak	-35.80%	-99.29%	+63.49%
Average Drawdown Average peak-to-trough decline	-33.47%	-73.50%	+40.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.47%	82.11%	-34.64%

Volatility

SNOU vs. MSTU - Volatility Comparison

The current volatility for T-Rex 2X Long SNOW Daily Target ETF (SNOU) is 23.67%, while T-Rex 2X Long MSTR Daily Target ETF (MSTU) has a volatility of 51.51%. This indicates that SNOU experiences smaller price fluctuations and is considered to be less risky than MSTU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNOU	MSTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.67%	51.51%	-27.84%
Volatility (6M) Calculated over the trailing 6-month period	103.74%	120.28%	-16.54%
Volatility (1Y) Calculated over the trailing 1-year period	133.40%	146.77%	-13.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	125.47%	169.36%	-43.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	125.47%	169.36%	-43.89%

SNOU vs. MSTU - Expense Ratio Comparison

SNOU has a 1.50% expense ratio, which is higher than MSTU's 1.05% expense ratio.

Dividends

SNOU vs. MSTU - Dividend Comparison

SNOU's dividend yield for the trailing twelve months is around 5.48%, while MSTU has not paid dividends to shareholders.

Position	TTM	2025
MSTU T-Rex 2X Long MSTR Daily Target ETF	0.00%	0.00%
SNOU T-Rex 2X Long SNOW Daily Target ETF	5.48%	5.97%

Frequently Asked Questions

Can I hold both SNOU and MSTU in my portfolio?

SNOU and MSTU have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNOU or MSTU?

MSTU has higher volatility (51.51%) compared to SNOU (23.67%). In terms of maximum drawdown, SNOU dropped -84.17% vs MSTU's -99.43%.

Which ETF is better, SNOU or MSTU?

On 1-year performance, SNOU leads with -1.21% vs -98.28% for MSTU. On fees, MSTU is cheaper at 1.05% per year. On volatility, SNOU has been the lower-risk option at 23.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNOU or MSTU?

Over the 1-year period, SNOU has performed better with a -1.21% return vs -98.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNOU or MSTU?

MSTU is cheaper with a 1.05% expense ratio, compared with 1.50% for SNOU.

Which ETF pays a higher dividend yield, SNOU or MSTU?

SNOU has the higher dividend yield at 5.48%, compared with 0.00% for MSTU.

What is the main difference between SNOU and MSTU?

Their fees differ too: 1.50% for SNOU and 1.05% for MSTU.

Which has better risk-adjusted returns?

SNOU currently has the higher Sharpe Ratio (-0.01 vs -0.67), 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.