TSLZ vs. MSTZ

Last updated Jun 3, 2026

TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, TSLZ returned -64.61% vs 56.67% for MSTZ. At a 0.41 correlation, their price movements are largely independent. Both charge a 1.05% expense ratio.

Performance

TSLZ vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) 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, TSLZ achieves a -5.60% return, which is significantly higher than MSTZ's -53.41% return.

TSLZ

• 1D: -3.70%
• 1M: -18.37%
• YTD: -5.60%
• 6M: -16.90%
• 1Y: -64.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: 18.20%
• 1M: 51.33%
• YTD: -53.41%
• 6M: -37.72%
• 1Y: 56.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLZ vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	-5.60%	-75.98%	-81.82%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-53.41%	-38.95%	-94.26%

Correlation

The correlation between TSLZ and MSTZ is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Sep 19, 2024	0.41

Return for Risk

TSLZ vs. MSTZ — Risk / Return Rank

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

TSLZ

TSLZ Risk / Return Rank: 3
TSLZ Sharpe Ratio Rank: 3
TSLZ Sortino Ratio Rank: 3
TSLZ Omega Ratio Rank: 3
TSLZ Calmar Ratio Rank: 2
TSLZ Martin Ratio Rank: 3

MSTZ

MSTZ Risk / Return Rank: 21
MSTZ Sharpe Ratio Rank: 15
MSTZ Sortino Ratio Rank: 28
MSTZ Omega Ratio Rank: 29
MSTZ Calmar Ratio Rank: 17
MSTZ Martin Ratio Rank: 15

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.

TSLZ vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) 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.

	TSLZ	MSTZ	Difference
Sharpe ratio Return per unit of total volatility	-0.71	0.41	-1.11
Sortino ratio Return per unit of downside risk	-0.96	1.52	-2.48
Omega ratio Gain probability vs. loss probability	0.89	1.19	-0.30
Calmar ratio Return relative to maximum drawdown	-0.83	0.64	-1.47
Martin ratio Return relative to average drawdown	-1.06	1.35	-2.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLZ vs. MSTZ - Sharpe Ratio Comparison

The current TSLZ Sharpe Ratio is -0.71, which is lower than the MSTZ Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of TSLZ 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.

Sharpe Ratios by Period

	TSLZ	MSTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.71	0.41	-1.11
Sharpe Ratio (All Time) Calculated using the full available price history	-0.67	-0.54	-0.13

Drawdowns

TSLZ vs. MSTZ - Drawdown Comparison

The maximum TSLZ drawdown since its inception was -99.11%, roughly equal to the maximum MSTZ drawdown of -99.36%. Use the drawdown chart below to compare losses from any high point for TSLZ and MSTZ.

Drawdown Indicators

	TSLZ	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.11%	-99.36%	+0.25%
Max Drawdown (1Y) Largest decline over 1 year	-76.62%	-84.89%	+8.27%
Current Drawdown Current decline from peak	-99.01%	-98.37%	-0.64%
Average Drawdown Average peak-to-trough decline	-75.32%	-94.38%	+19.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.42%	40.08%	+20.34%

Volatility

TSLZ vs. MSTZ - Volatility Comparison

The current volatility for T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) is 24.08%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.37%. This indicates that TSLZ 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

	TSLZ	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.08%	37.37%	-13.29%
Volatility (6M) Calculated over the trailing 6-month period	54.94%	125.27%	-70.33%
Volatility (1Y) Calculated over the trailing 1-year period	91.67%	139.71%	-48.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	117.13%	170.21%	-53.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	117.13%	170.21%	-53.08%

TSLZ vs. MSTZ - Expense Ratio Comparison

Both TSLZ and MSTZ have an expense ratio of 1.05%.

Dividends

TSLZ vs. MSTZ - Dividend Comparison

TSLZ's dividend yield for the trailing twelve months is around 0.73%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%	0.00%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.73%	0.69%	2.08%	12.15%

Frequently Asked Questions

Can I hold both TSLZ and MSTZ in my portfolio?

TSLZ and MSTZ have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLZ or MSTZ?

MSTZ has higher volatility (37.37%) compared to TSLZ (24.08%). In terms of maximum drawdown, TSLZ dropped -99.11% vs MSTZ's -99.36%.

Which ETF is better, TSLZ or MSTZ?

On 1-year performance, MSTZ leads with 56.67% vs -64.61% for TSLZ. Both ETFs have the same 1.05% expense ratio. On volatility, TSLZ has been the lower-risk option at 24.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLZ or MSTZ?

Over the 1-year period, MSTZ has performed better with a 56.67% return vs -64.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLZ or MSTZ?

TSLZ and MSTZ have the same expense ratio: 1.05% per year.

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

TSLZ has the higher dividend yield at 0.73%, compared with 0.00% for MSTZ.

What is the main difference between TSLZ and MSTZ?

They also come from different issuers: T-Rex and REX.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (0.41 vs -0.71), 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.