URAN vs. MSTZ

Last updated Aug 1, 2026

URAN (Themes Uranium & Nuclear ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - URAN is a Uranium fund tracking the BITA Global Uranium and Nuclear Select Index, while MSTZ is a Inverse Equities fund actively managed by REX. URAN is passively managed, while MSTZ is actively managed. Over the past year, URAN returned -0.25% vs 159.07% for MSTZ. Their -0.42 correlation means they have often moved in opposite directions in the past. URAN charges 0.35%/yr vs 1.05%/yr for MSTZ.

Performance

URAN vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Uranium & Nuclear ETF (URAN) 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, URAN achieves a -12.41% return, which is significantly higher than MSTZ's -30.44% return.

URAN

• 1D: -0.98%
• 1M: -4.79%
• 6M: -26.75%
• YTD: -12.41%
• 1Y: -0.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.93%

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
URAN Themes Uranium & Nuclear ETF	$140.10K	$486.39K	$433.21K

URAN vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URAN Themes Uranium & Nuclear ETF	-12.41%	49.05%	3.89%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-30.44%	-38.95%	-92.46%

Correlation

The correlation between URAN and MSTZ is -0.43, 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.	-0.43
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024	-0.42

Return for Risk

URAN vs. MSTZ — Risk / Return Rank

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

URAN

URAN Risk / Return Rank: 11
URAN Sharpe Ratio Rank: 10
URAN Sortino Ratio Rank: 12
URAN Omega Ratio Rank: 12
URAN Calmar Ratio Rank: 10
URAN Martin Ratio Rank: 10

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.

URAN vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Uranium & Nuclear ETF (URAN) 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.

	URAN	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.38	-1.43
Sortino ratio: Return per unit of downside risk	0.22	2.22	-2.00
Omega ratio: Gain probability vs. loss probability	1.02	1.28	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.06	2.44	-2.50
Martin ratio: Return relative to average drawdown	-0.11	4.53	-4.65

URAN vs. MSTZ - Sharpe Ratio Comparison

The current URAN Sharpe Ratio is -0.05, which is lower than the MSTZ Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of URAN 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

URAN vs. MSTZ - Drawdown Comparison

The maximum URAN drawdown since its inception was -35.21%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for URAN and MSTZ.

Drawdown Indicators

	URAN	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-35.21%	-99.38%	+64.17%
Max Drawdown (1Y) Largest decline over 1 year	-35.21%	-84.89%	+49.68%
Current Drawdown Current decline from peak	-33.51%	-97.63%	+64.12%
Average Drawdown Average peak-to-trough decline	-12.37%	-94.63%	+82.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.37%	45.62%	-28.25%

Volatility

URAN vs. MSTZ - Volatility Comparison

The current volatility for Themes Uranium & Nuclear ETF (URAN) is 9.49%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 37.86%. This indicates that URAN 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

	URAN	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.49%	37.86%	-28.37%
Volatility (6M) Calculated over the trailing 6-month period	29.24%	134.52%	-105.28%
Volatility (1Y) Calculated over the trailing 1-year period	40.04%	150.23%	-110.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.93%	169.87%	-130.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.93%	169.87%	-130.94%

URAN vs. MSTZ - Expense Ratio Comparison

URAN has a 0.35% expense ratio, which is lower than MSTZ's 1.05% expense ratio.

Dividends

URAN vs. MSTZ - Dividend Comparison

URAN's dividend yield for the trailing twelve months is around 2.93%, 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%
URAN Themes Uranium & Nuclear ETF	2.93%	2.56%	0.21%

Frequently Asked Questions

Can I hold both URAN and MSTZ in my portfolio?

URAN and MSTZ have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URAN or MSTZ?

MSTZ has higher volatility (37.86%) compared to URAN (9.49%). In terms of maximum drawdown, URAN dropped -35.21% vs MSTZ's -99.38%.

Which ETF is better, URAN or MSTZ?

On 1-year performance, MSTZ leads with 159.07% vs -0.25% for URAN. On fees, URAN is cheaper at 0.35% per year. On volatility, URAN has been the lower-risk option at 9.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URAN or MSTZ?

Over the 1-year period, MSTZ has performed better with a 159.07% return vs -0.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URAN or MSTZ?

URAN is cheaper with a 0.35% expense ratio, compared with 1.05% for MSTZ.

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

URAN has the higher dividend yield at 2.93%, compared with 0.00% for MSTZ.

What is the main difference between URAN and MSTZ?

URAN is categorized as Uranium, while MSTZ is Inverse Equities. They also come from different issuers: Themes and REX. Their fees differ too: 0.35% for URAN and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.38 vs -0.05), 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.