The fund aims to replicate twice the daily performance of MicroStrategy (MSTR) common stock. It builds its leverage by allocating most of its assets to swap contracts and cash equivalents, and it rebalances its portfolio every day.

It suits experienced full-time investors who want to use the clear upward momentum of MSTR to pursue high short-term returns.

It is an actively managed ETF launched by T-Rex in 2024.

The fund secures 2x exposure to the MSTR share price through a total return swap contract. Because leverage is reset on a daily basis, compounding effects and volatility decay can cause performance to diverge significantly from the underlying asset when the fund is held over the long term.

• Provides 2x leverage on MSTR
• Manages exposure through daily rebalancing

Assets under management (AUM) stand at $536.1M, and the expense ratio is 1.05% per year.

It responds more sensitively to the volatility of a single stock than index leveraged ETFs such as TQQQ or SOXL shown in the table, and its expense ratio is also set at a somewhat high level to reflect its specialized strategy.

Driven by rising Bitcoin prices and news of MSTR's fundraising, the fund has shown extremely steep volatility and attracted market attention. The leverage effect was magnified during periods of sharp short-term price surges.

As optimism spreads across the cryptocurrency market, speculative capital seeking an indirect way to gain leveraged Bitcoin exposure has been flowing in actively. Daily trading value has surged, and the fund maintains high liquidity.

It can maximize expected returns when the MSTR share price rises, but it is an ultra-high-risk product in which a substantial portion of principal can be lost in a short time when the price falls.

TQQQ, SOXL, and QLD, which appear in the table, are leveraged alternatives that track broad indexes, and investing in the underlying asset MSTR itself is the more common choice. In addition, the competing product MSTX also offers the same 2x leverage, so it is advisable to compare expense ratios and liquidity before choosing. The short-term Treasury ETF TLDR is also sometimes mentioned alongside these for cash management purposes.

MSTU differs greatly in nature from ordinary investment products, so before investing you should carefully check for yourself that you fully understand the following critical risk factors and can bear them, and then make your decision.

This is an ultra-high-risk strategy in which most of your invested capital can be lost if the underlying asset MSTR plunges in a single day. It should be approached only as a short-term market tactic, not as a long-term investment.

It can be an effective tool for professional investors who want to actively exploit the volatility of MSTR. However, because investors must accept high risk and costs, it is recommended to hold it only as a very small portion of the portfolio.