SPVM vs. MSTZ

Last updated Aug 2, 2026

SPVM (Invesco S&P 500 Value with Momentum ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - SPVM is a Momentum fund tracking the S&P 500 High Momentum Value Index, while MSTZ is a Inverse Equities fund actively managed by REX. SPVM is passively managed, while MSTZ is actively managed. Over the past year, SPVM returned 30.48% vs 159.07% for MSTZ. Their -0.25 correlation means they have often moved in opposite directions in the past. SPVM charges 0.39%/yr vs 1.05%/yr for MSTZ.

Performance

SPVM vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Value with Momentum ETF (SPVM) 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, SPVM achieves a 15.18% return, which is significantly higher than MSTZ's -30.44% return.

SPVM

• 1D: -0.22%
• 1M: 2.32%
• 6M: 11.82%
• YTD: 15.18%
• 1Y: 30.48%
• 3Y*: 18.09%
• 5Y*: 12.07%
• 10Y*: 12.30%
• ALL TIME*: 12.00%

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
SPVM Invesco S&P 500 Value with Momentum ETF	$1.04M	$1.14M	$1.20M

SPVM vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPVM Invesco S&P 500 Value with Momentum ETF	15.18%	20.47%	0.58%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-30.44%	-38.95%	-94.43%

Correlation

The correlation between SPVM and MSTZ is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.23
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.25

Return for Risk

SPVM vs. MSTZ — Risk / Return Rank

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

SPVM

SPVM Risk / Return Rank: 93
SPVM Sharpe Ratio Rank: 94
SPVM Sortino Ratio Rank: 94
SPVM Omega Ratio Rank: 92
SPVM Calmar Ratio Rank: 93
SPVM Martin Ratio Rank: 93

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.

SPVM vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Value with Momentum ETF (SPVM) 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.

	SPVM	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	2.58	1.38	+1.20
Sortino ratio: Return per unit of downside risk	3.73	2.22	+1.51
Omega ratio: Gain probability vs. loss probability	1.45	1.28	+0.17
Calmar ratio: Return relative to maximum drawdown	4.47	2.44	+2.02
Martin ratio: Return relative to average drawdown	17.23	4.53	+12.69

SPVM vs. MSTZ - Sharpe Ratio Comparison

The current SPVM Sharpe Ratio is 2.58, which is higher than the MSTZ Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of SPVM 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

SPVM vs. MSTZ - Drawdown Comparison

The maximum SPVM drawdown since its inception was -45.35%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for SPVM and MSTZ.

Drawdown Indicators

	SPVM	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-45.35%	-99.38%	+54.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-84.89%	+78.32%
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.35%	—	—
Current Drawdown Current decline from peak	-1.34%	-97.63%	+96.29%
Average Drawdown Average peak-to-trough decline	-4.94%	-94.63%	+89.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	45.62%	-43.92%

Volatility

SPVM vs. MSTZ - Volatility Comparison

The current volatility for Invesco S&P 500 Value with Momentum ETF (SPVM) is 3.18%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.86%. This indicates that SPVM 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

	SPVM	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	37.86%	-34.68%
Volatility (6M) Calculated over the trailing 6-month period	7.72%	134.52%	-126.80%
Volatility (1Y) Calculated over the trailing 1-year period	11.40%	150.23%	-138.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	169.87%	-153.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.51%	169.87%	-150.36%

SPVM vs. MSTZ - Expense Ratio Comparison

SPVM has a 0.39% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

SPVM vs. MSTZ - Dividend Comparison

SPVM's dividend yield for the trailing twelve months is around 1.92%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
SPVM Invesco S&P 500 Value with Momentum ETF	1.92%	2.02%	1.91%	2.45%	2.33%	1.41%	2.11%	2.40%	3.10%	1.68%	2.80%	2.67%

Frequently Asked Questions

Can I hold both SPVM and MSTZ in my portfolio?

SPVM and MSTZ have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPVM or MSTZ?

MSTZ has higher volatility (37.86%) compared to SPVM (3.18%). In terms of maximum drawdown, SPVM dropped -45.35% vs MSTZ's -99.38%.

Which ETF is better, SPVM or MSTZ?

On 1-year performance, MSTZ leads with 159.07% vs 30.48% for SPVM. On fees, SPVM is cheaper at 0.39% per year. On volatility, SPVM has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPVM or MSTZ?

Over the 1-year period, MSTZ has performed better with a 159.07% return vs 30.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPVM or MSTZ?

SPVM is cheaper with a 0.39% expense ratio, compared with 1.05% for MSTZ.

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

SPVM has the higher dividend yield at 1.92%, compared with 0.00% for MSTZ.

What is the main difference between SPVM and MSTZ?

SPVM is categorized as Momentum, while MSTZ is Inverse Equities. They also come from different issuers: Invesco and REX. Their fees differ too: 0.39% for SPVM and 1.05% for MSTZ.

Which has better risk-adjusted returns?

SPVM currently has the higher Sharpe Ratio (2.58 vs 1.38), 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.