SOXL vs. MSTZ

Last updated Jul 10, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while MSTZ is a Inverse Equities fund actively managed by REX. SOXL is passively managed, while MSTZ is actively managed. Over the past year, SOXL returned 622.35% vs 236.06% for MSTZ. At a correlation of -0.37, they often move in opposite directions. SOXL charges 0.75%/yr vs 1.05%/yr for MSTZ.

Performance

SOXL vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductor Bull 3X ETF (SOXL) 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, SOXL achieves a 357.89% return, which is significantly higher than MSTZ's -25.83% return.

SOXL

• 1D: 10.08%
• 1M: -4.58%
• 6M: 287.61%
• YTD: 357.89%
• 1Y: 622.35%
• 3Y*: 100.52%
• 5Y*: 36.56%
• 10Y*: 59.46%

MSTZ

• 1D: 0.08%
• 1M: 24.95%
• 6M: -8.55%
• YTD: -25.83%
• 1Y: 236.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOXL vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SOXL Direxion Daily Semiconductor Bull 3X ETF	357.89%	54.91%	-14.69%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-25.83%	-38.95%	-94.43%

Correlation

The correlation between SOXL and MSTZ is -0.36, 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	-0.36
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.37

Return for Risk

SOXL vs. MSTZ — Risk / Return Rank

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

SOXL

SOXL Risk / Return Rank: 95
SOXL Sharpe Ratio Rank: 98
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 91
SOXL Calmar Ratio Rank: 98
SOXL Martin Ratio Rank: 98

MSTZ

MSTZ Risk / Return Rank: 59
MSTZ Sharpe Ratio Rank: 61
MSTZ Sortino Ratio Rank: 62
MSTZ Omega Ratio Rank: 62
MSTZ Calmar Ratio Rank: 70
MSTZ Martin Ratio Rank: 42

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.

SOXL vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) 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.

	SOXL	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	5.11	1.60	+3.51
Sortino ratio: Return per unit of downside risk	3.33	2.32	+1.01
Omega ratio: Gain probability vs. loss probability	1.47	1.30	+0.17
Calmar ratio: Return relative to maximum drawdown	13.94	2.80	+11.14
Martin ratio: Return relative to average drawdown	41.73	5.48	+36.24

SOXL vs. MSTZ - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 5.11, which is higher than the MSTZ Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of SOXL 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

SOXL vs. MSTZ - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for SOXL and MSTZ.

Drawdown Indicators

	SOXL	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-90.46%	-99.38%	+8.92%
Max Drawdown (1Y) Largest decline over 1 year	-45.05%	-84.89%	+39.84%
Max Drawdown (3Y) Largest decline over 3 years	-87.88%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-90.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-90.46%	—	—
Current Drawdown Current decline from peak	-36.01%	-97.48%	+61.47%
Average Drawdown Average peak-to-trough decline	-34.94%	-94.52%	+59.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.02%	43.29%	-28.27%

Volatility

SOXL vs. MSTZ - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 64.97% compared to T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) at 57.99%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than MSTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXL	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	64.97%	57.99%	+6.98%
Volatility (6M) Calculated over the trailing 6-month period	107.39%	135.25%	-27.86%
Volatility (1Y) Calculated over the trailing 1-year period	122.82%	148.75%	-25.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.66%	171.36%	-59.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.19%	171.36%	-70.17%

SOXL vs. MSTZ - Expense Ratio Comparison

SOXL has a 0.75% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

SOXL vs. MSTZ - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.01%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.01%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%

Frequently Asked Questions

Can I hold both SOXL and MSTZ in my portfolio?

SOXL and MSTZ have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXL or MSTZ?

SOXL has higher volatility (64.97%) compared to MSTZ (57.99%). In terms of maximum drawdown, SOXL dropped -90.46% vs MSTZ's -99.38%.

Which ETF is better, SOXL or MSTZ?

On 1-year performance, SOXL leads with 622.35% vs 236.06% for MSTZ. On fees, SOXL is cheaper at 0.75% per year. On volatility, MSTZ has been the lower-risk option at 57.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXL or MSTZ?

Over the 1-year period, SOXL has performed better with a 622.35% return vs 236.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXL or MSTZ?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.05% for MSTZ.

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

SOXL has the higher dividend yield at 0.01%, compared with 0.00% for MSTZ.

What is the main difference between SOXL and MSTZ?

SOXL is categorized as Leveraged Equities, while MSTZ is Inverse Equities. They also come from different issuers: Direxion and REX. Their fees differ too: 0.75% for SOXL and 1.05% for MSTZ.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (5.11 vs 1.60), 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.