VPC vs. MSTZ

Last updated Aug 4, 2026

VPC (Virtus Private Credit ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index, while MSTZ is a Inverse Equities fund actively managed by REX. VPC is passively managed, while MSTZ is actively managed. Over the past year, VPC returned -14.71% vs 150.38% for MSTZ. Their -0.33 correlation means they have often moved in opposite directions in the past. VPC charges 0.75%/yr vs 1.05%/yr for MSTZ.

Performance

VPC vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Private Credit ETF (VPC) 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, VPC achieves a -9.85% return, which is significantly higher than MSTZ's -32.77% return.

VPC

• 1D: 1.90%
• 1M: 0.33%
• 6M: -7.94%
• YTD: -9.85%
• 1Y: -14.71%
• 3Y*: -0.64%
• 5Y*: 1.24%
• 10Y*: —
• ALL TIME*: 3.88%

MSTZ

• 1D: -3.35%
• 1M: 3.78%
• 6M: -35.30%
• YTD: -32.77%
• 1Y: 150.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -86.70%

*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	$99.07M	$124.74M	$178.48M
VPC Virtus Private Credit ETF	$172.51K	$168.73K	$168.71K

VPC vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VPC Virtus Private Credit ETF	-9.85%	-6.75%	2.33%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-32.77%	-38.95%	-94.43%

Correlation

The correlation between VPC and MSTZ is -0.34, 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.	-0.34
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.33

Return for Risk

VPC vs. MSTZ — Risk / Return Rank

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

VPC

VPC Risk / Return Rank: 2
VPC Sharpe Ratio Rank: 1
VPC Sortino Ratio Rank: 2
VPC Omega Ratio Rank: 2
VPC Calmar Ratio Rank: 4
VPC Martin Ratio Rank: 3

MSTZ

MSTZ Risk / Return Rank: 46
MSTZ Sharpe Ratio Rank: 40
MSTZ Sortino Ratio Rank: 56
MSTZ Omega Ratio Rank: 56
MSTZ Calmar Ratio Rank: 47
MSTZ Martin Ratio Rank: 34

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.

VPC vs. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Private Credit ETF (VPC) 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.

	VPC	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	1.01	-2.08
Sortino ratio: Return per unit of downside risk	-1.46	2.01	-3.47
Omega ratio: Gain probability vs. loss probability	0.84	1.26	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.69	1.78	-2.47
Martin ratio: Return relative to average drawdown	-1.17	3.30	-4.48

VPC vs. MSTZ - Sharpe Ratio Comparison

The current VPC Sharpe Ratio is -1.07, which is lower than the MSTZ Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of VPC 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

VPC vs. MSTZ - Drawdown Comparison

The maximum VPC drawdown since its inception was -53.45%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for VPC and MSTZ.

Drawdown Indicators

	VPC	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-99.38%	+45.93%
Max Drawdown (1Y) Largest decline over 1 year	-21.55%	-84.89%	+63.34%
Max Drawdown (3Y) Largest decline over 3 years	-24.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.86%	—	—
Current Drawdown Current decline from peak	-20.16%	-97.71%	+77.55%
Average Drawdown Average peak-to-trough decline	-7.96%	-94.63%	+86.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.55%	45.77%	-33.22%

Volatility

VPC vs. MSTZ - Volatility Comparison

The current volatility for Virtus Private Credit ETF (VPC) is 3.95%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 33.58%. This indicates that VPC 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

	VPC	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	33.58%	-29.63%
Volatility (6M) Calculated over the trailing 6-month period	11.15%	134.23%	-123.08%
Volatility (1Y) Calculated over the trailing 1-year period	13.88%	149.52%	-135.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.61%	169.71%	-156.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.43%	169.71%	-149.28%

VPC vs. MSTZ - Expense Ratio Comparison

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

Dividends

VPC vs. MSTZ - Dividend Comparison

VPC's dividend yield for the trailing twelve months is around 16.16%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
VPC Virtus Private Credit ETF	16.16%	14.33%	11.26%	11.71%	10.74%	6.31%	10.06%	8.19%

Frequently Asked Questions

Can I hold both VPC and MSTZ in my portfolio?

VPC and MSTZ have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VPC or MSTZ?

MSTZ has higher volatility (33.58%) compared to VPC (3.95%). In terms of maximum drawdown, VPC dropped -53.45% vs MSTZ's -99.38%.

Which ETF is better, VPC or MSTZ?

On 1-year performance, MSTZ leads with 150.38% vs -14.71% for VPC. On fees, VPC is cheaper at 0.75% per year. On volatility, VPC has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VPC or MSTZ?

Over the 1-year period, MSTZ has performed better with a 150.38% return vs -14.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VPC or MSTZ?

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

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

VPC has the higher dividend yield at 16.16%, compared with 0.00% for MSTZ.

What is the main difference between VPC and MSTZ?

VPC is categorized as Nontraditional Bonds, while MSTZ is Inverse Equities. They also come from different issuers: Virtus and REX. Their fees differ too: 0.75% for VPC and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.01 vs -1.07), 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.