TSMY vs. MSTZ

Last updated Jun 26, 2026

TSMY (YieldMax TSM Option Income Strategy ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - TSMY is a Derivative Income fund actively managed by YieldMax, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, TSMY returned 76.34% vs 279.21% for MSTZ. At a correlation of -0.31, they often move in opposite directions. TSMY charges 0.99%/yr vs 1.05%/yr for MSTZ.

Performance

TSMY vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax TSM Option Income Strategy ETF (TSMY) 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, TSMY achieves a 37.34% return, which is significantly higher than MSTZ's 1.05% return.

TSMY

• 1D: -0.42%
• 1M: 5.31%
• YTD: 37.34%
• 6M: 39.44%
• 1Y: 76.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: 19.27%
• 1M: 186.45%
• YTD: 1.05%
• 6M: 9.89%
• 1Y: 279.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSMY vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMY YieldMax TSM Option Income Strategy ETF	37.34%	41.00%	9.14%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	1.05%	-38.95%	-94.43%

Correlation

The correlation between TSMY and MSTZ is -0.31, 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	-0.31
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.31

Return for Risk

TSMY vs. MSTZ — Risk / Return Rank

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

TSMY

TSMY Risk / Return Rank: 85
TSMY Sharpe Ratio Rank: 87
TSMY Sortino Ratio Rank: 79
TSMY Omega Ratio Rank: 79
TSMY Calmar Ratio Rank: 91
TSMY Martin Ratio Rank: 90

MSTZ

MSTZ Risk / Return Rank: 62
MSTZ Sharpe Ratio Rank: 69
MSTZ Sortino Ratio Rank: 60
MSTZ Omega Ratio Rank: 59
MSTZ Calmar Ratio Rank: 74
MSTZ Martin Ratio Rank: 45

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.

TSMY vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax TSM Option Income Strategy ETF (TSMY) 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.

	TSMY	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	2.47	1.93	+0.54
Sortino ratio: Return per unit of downside risk	3.05	2.48	+0.58
Omega ratio: Gain probability vs. loss probability	1.40	1.32	+0.09
Calmar ratio: Return relative to maximum drawdown	4.95	3.31	+1.64
Martin ratio: Return relative to average drawdown	17.86	6.57	+11.29

TSMY vs. MSTZ - Sharpe Ratio Comparison

The current TSMY Sharpe Ratio is 2.47, which is comparable to the MSTZ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of TSMY 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

TSMY vs. MSTZ - Drawdown Comparison

The maximum TSMY drawdown since its inception was -31.15%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for TSMY and MSTZ.

Drawdown Indicators

	TSMY	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-31.15%	-99.38%	+68.23%
Max Drawdown (1Y) Largest decline over 1 year	-15.50%	-84.89%	+69.39%
Current Drawdown Current decline from peak	-4.90%	-96.56%	+91.66%
Average Drawdown Average peak-to-trough decline	-5.43%	-94.46%	+89.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	42.70%	-38.41%

Volatility

TSMY vs. MSTZ - Volatility Comparison

The current volatility for YieldMax TSM Option Income Strategy ETF (TSMY) is 13.57%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 46.08%. This indicates that TSMY 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

	TSMY	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.57%	46.08%	-32.51%
Volatility (6M) Calculated over the trailing 6-month period	25.04%	129.73%	-104.69%
Volatility (1Y) Calculated over the trailing 1-year period	31.03%	145.84%	-114.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.89%	170.65%	-136.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.89%	170.65%	-136.76%

TSMY vs. MSTZ - Expense Ratio Comparison

TSMY has a 0.99% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

TSMY vs. MSTZ - Dividend Comparison

TSMY's dividend yield for the trailing twelve months is around 52.37%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%
TSMY YieldMax TSM Option Income Strategy ETF	52.37%	56.76%	13.71%

Frequently Asked Questions

Can I hold both TSMY and MSTZ in my portfolio?

TSMY and MSTZ have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSMY or MSTZ?

MSTZ has higher volatility (46.08%) compared to TSMY (13.57%). In terms of maximum drawdown, TSMY dropped -31.15% vs MSTZ's -99.38%.

Which ETF is better, TSMY or MSTZ?

On 1-year performance, MSTZ leads with 279.21% vs 76.34% for TSMY. On fees, TSMY is cheaper at 0.99% per year. On volatility, TSMY has been the lower-risk option at 13.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMY or MSTZ?

Over the 1-year period, MSTZ has performed better with a 279.21% return vs 76.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMY or MSTZ?

TSMY is cheaper with a 0.99% expense ratio, compared with 1.05% for MSTZ.

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

TSMY has the higher dividend yield at 52.37%, compared with 0.00% for MSTZ.

What is the main difference between TSMY and MSTZ?

TSMY is categorized as Derivative Income, while MSTZ is Inverse Equities. They also come from different issuers: YieldMax and REX. Their fees differ too: 0.99% for TSMY and 1.05% for MSTZ.

Which has better risk-adjusted returns?

TSMY currently has the higher Sharpe Ratio (2.47 vs 1.93), 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.