T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) Performance
MSTZ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −84.2% since Dec 31, 2025
- 1 year
- −56.4% total return
- Since first price
- −99.4% since 2024
MSTZ trailing returns vs SPY, QQQ, AGG
| Period | MSTZ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +11.5% | +11.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −77.9% | −77.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −52.9% | −52.9% | +7.8% | +8.4% | −1.5% |
| YTD | −84.2% | −84.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −56.4% | −56.4% | +14.4% | +15.9% | −1.1% |
| Since inceptionSep 18, 2024 | −99.4% | −99.4% | — | — | — |
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: MSTZ vs SPY
From Sep 18, 2024: MSTZ grew to $55, SPY to $13,892.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MSTZ returns by calendar year
0 of 1 full years positive. Best 2025 (−38.9%), worst 2025 (−38.9%). 2026 is year to date.
MSTZ annual returns table
| Year | MSTZ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −84.2% | −91.8% | +12.3% | +15.1% | −1.0% |
| 2025 | −38.9% | −89.4% | +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.
MSTZ largest drawdowns
Now 99.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Sep 18, 2024 | −99.5% | Sep 21, 2026 | not yet | 2.0 years | 2.1 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MSTZ risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −90.1% |
| Volatility (annualized) | 189.1% |
| Sharpe ratio | -0.26 |
| Sortino ratio | -0.42 |
| Best month | +157.1% |
| Worst month | −80.1% |
| Best 12 months | +271.5% |
| Worst 12 months | −98.1% |
| Positive months | 33% |
| 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.
MSTZ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 14 | −98.1% | −22.5% | +271.5% | 29% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
MSTZ performance overview
T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) returned −56.4% over the past year, with distributions reinvested. Since its first recorded price on Sep 18, 2024 it has returned −99.4%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.5%, from Sep 18, 2024 to Sep 21, 2026; the fund has not yet regained that high. Volatility has been 189.1% a year.
Related: MSTZ chart. See the MSTZ overview for the latest quote and fund facts.
MSTZ performance FAQ
What is the MSTZ return over the past year?
MSTZ returned −56.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 56.4%.
How much would $10,000 invested in MSTZ be worth?
$10,000 invested in MSTZ at its first recorded close on September 18, 2024 would be worth about $55 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of MSTZ?
The largest peak-to-trough decline was −99.5% between September 18, 2024 and September 21, 2026. It has not yet recovered to that high; it is 99.4% below its peak.
How volatile is MSTZ?
Over the past history MSTZ had an annualized volatility of 189.1% and a Sharpe ratio of -0.26 (excess return over 1–3 month T-bills per unit of risk).