T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) Performance
BTCZ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −26.7% since Dec 31, 2025
- 1 year
- +4.2% total return
- Since first price
- −87.8% since 2024
BTCZ trailing returns vs SPY, QQQ, AGG
| Period | BTCZ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +7.5% | +7.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −42.6% | −42.6% | +3.2% | +1.9% | −0.4% |
| 6 months | −24.2% | −24.2% | +7.8% | +8.4% | −1.5% |
| YTD | −26.7% | −26.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +4.2% | +4.2% | +14.4% | +15.9% | −1.1% |
| Since inceptionJul 10, 2024 | −87.8% | −87.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BTCZ vs SPY
From Jul 10, 2024: BTCZ grew to $1,217, SPY to $13,894.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BTCZ returns by calendar year
0 of 1 full years positive. Best 2025 (−29.1%), worst 2025 (−29.1%). 2026 is year to date.
BTCZ annual returns table
| Year | BTCZ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −26.7% | −61.4% | +12.3% | +15.1% | −1.0% |
| 2025 | −29.1% | −68.6% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BTCZ largest drawdowns
Now 88.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 5, 2024 | −91.1% | Oct 6, 2025 | not yet | 1.2 years | 2.2 years so far |
| Jul 10, 2024 | −32.4% | Jul 26, 2024 | Aug 5, 2024 | 16 days | 26 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BTCZ risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −57.3% |
| Volatility (annualized) | 86.1% |
| Sharpe ratio | -0.57 |
| Sortino ratio | -0.77 |
| Best month | +47.6% |
| Worst month | −54.8% |
| Best 12 months | +98.0% |
| Worst 12 months | −84.6% |
| Positive months | 42% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BTCZ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 16 | −84.6% | −9.2% | +98.0% | 38% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
BTCZ performance overview
T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) returned +4.2% over the past year, with distributions reinvested. Since its first recorded price on Jul 10, 2024 it has returned −87.8%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −91.1%, from Aug 5, 2024 to Oct 6, 2025; the fund has not yet regained that high. Volatility has been 86.1% a year.
Related: BTCZ chart, BTCZ dividends. See the BTCZ overview for the latest quote and fund facts.
BTCZ performance FAQ
What is the BTCZ return over the past year?
BTCZ returned +4.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.2%.
How much would $10,000 invested in BTCZ be worth?
$10,000 invested in BTCZ at its first recorded close on July 10, 2024 would be worth about $1,217 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of BTCZ?
The largest peak-to-trough decline was −91.1% between August 5, 2024 and October 6, 2025. It has not yet recovered to that high; it is 88.2% below its peak.
How volatile is BTCZ?
Over the past history BTCZ had an annualized volatility of 86.1% and a Sharpe ratio of -0.57 (excess return over 1–3 month T-bills per unit of risk).